The Global Veterinary Healthcare Product Market size reached a value of nearly $170.9 billion in 2020, and is expected to grow at a CAGR of 11.78% to nearly $234.7 billion by 2024.
Major Key Players in the market includes Pfizer, Merck, Sanofi-Aventis, Bayer HealthCare, Virbac, Novartis, Boehringer Ingelheim, Heska Corporation, Bioniche Animal Health Canada, Inc., Ceva, Johnson & Johnson, MedFly, Zoetis and 3M.
Trianni, Inc. and Zoetis announced on July 2020 collaboration for the development of transgenic monoclonal antibody platforms for the discovery of new veterinary treatments. TRIANNI's experience in the development of therapeutic antibody platform capabilities and look forward to working with them on innovations for animal health. This collaboration will enhance our internally-developed pipeline of novel monoclonal antibodies and hasten the development of therapeutics that could transform the way veterinarians treat a range of diseases in animals.
Zoetis A.L.P.H.A.-June 2020 Initiative Accelerates Sustainable Livestock Production and Improves Livelihoods for Farmers in Sub-Saharan Africa. They co-funded with a $14 million grant from the Bill & Melinda Gates Foundation continues to improve livestock health and positively impact farmers’ livelihoods by increasing access to quality veterinary medicines and services, diagnostic laboratory networks, and animal health training in sub-Saharan Africa.
Pfizer and BioNTech SE announced to an agreement with the European Commission to supply 200 million doses of their investigational BNT162b2 mRNA-based vaccine candidate against SARS-coV-2 to European Union member States, with an option for the European commission to request an additional 100 million dose.
Sanofi and Kiadis- Nov 2020 a clinical-stage biopharmaceutical company developing innovative ‘off the shelf’ natural killer (NK) cell based medicines for the treatment of life-threatening diseases, entered into a definitive agreement under which Sanofi will make a public offer (subject to satisfaction of certain customary conditions) to acquire the entire share capital of Kiadis for EUR 5.45 per share, representing an aggregate adjusted equity value of €308m1.
Market Segmentation is divided by type, application and region. By Type it has vaccines, paraciticides, Anti-infective; Medicinal feed additives and others. By application it splits into Pet, Poultry and Other. Geographically it divided on North America, Europe, Asia-Pacific and Middle East & Africa. North America is having a lucrative growth during the forecast period. Veterinary healthcare is an integral part of the US economy. It is among the most innovative industries in the United States. Mexico and Canada are among the largest export markets for meat and dairy products for the United States, each year. Apart from the economic benefits, the social benefits of the animals are far-reaching and highly recognized by several communities. Thus, with several factors aiding to develop a better environment, the North American region plays a vital role in the growth of the market.