The Middle East and Africa animal healthcare market involves products like biologics, pharmaceuticals, medicinal feed additives and vaccines that prevent and treat diseases in companion animals and livestock. Biologics segment includes therapeutic antibodies, recombinant proteins, growth factors and cytokines. Pharmaceuticals involve parasiticides, anti-infectives, anti-inflammatory, analgesics and others. The needs for animal healthcare products are growing owing to rising prevalence of zoonotic diseases, increasing reliance on animal protein and rising pet adoption. The market is witnessing rising demand for advanced therapies like stem cell therapy and gene therapy for chronic conditions.
Global Middle East and Africa Animal Healthcare Market is estimated to be valued at US$ 5478.77 Bn in 2024 and is expected to exhibit a CAGR of 14% over the forecast period 2024 To 2031.
Key Takeaways:
Key players operating in the Middle East And Africa Animal Healthcare Market Growth are Siegfried, Sanofi, Johnson Matthey, Mallinckrodt, Noramco, Unichem Laboratories, Arevipharma GmbH, Resonance-labs, Sun Pharmaceutical Industries Ltd., Rusan Pharma, Micro Orgo Chem, and Faran Shimi Pharmaceutical Co.. The key players are focusing on new product launches and geographical expansion to gain leading position in the market.
The demand for animal healthcare products in the region is growing owing rising pet adoption and increasing awareness about pet healthcare among owners. pets are now considered as companions, and pet owners are willing to spend more on pet healthcare needs. According to data, over 50% of households own a pet in major countries like South Africa, UAE and Saudi Arabia.
Technological advancements like 3D printing, AI and big data analytics are helping manufacturers develop novel biologics rapidly and customization of diagnostics and treatment. Mobile apps for remote monitoring of pets and electronic medical records are enabling on-demand access to veterinary services driving demand and compliance.
Market Trends:
- Growing preference for online channels: E-commerce platforms are gaining traction in the region for purchasing animal healthcare products owing to convenience and discounts. Major players are focusing on strengthening their online presence.
- Adoption of stem cell therapy: Stem cell therapy holds potential to treat chronic conditions in animals and research is ongoing to validate its efficacy. Increased investments are being made in this area to develop new applications.
Market Opportunities:
- Focus on livestock healthcare: With growing meat consumption, focus on livestock health and productive farming will increase. Opportunities exist for novel vaccines, feed additives and reproductive management products.
- Pet insurance: Pet healthcare insurance is still in nascent stage but has high growth prospects with rising pet humanization trend. Insurers can partner with veterinary clinics and pet product manufacturers.
Impact of COVID-19 on Middle East and Africa Animal Healthcare Market
The COVID-19 pandemic has significantly impacted the growth of the Middle East and Africa animal healthcare market. During the initial lockdown periods, veterinary practices had to temporarily shut down non-critical services. Supply chains were disrupted leading to shortages of key drugs and medical devices. This hampered the timely treatment and vaccination of animals. Post lockdown, practices had to implement strict safety and hygiene protocols like temperature checks, social distancing and increased sanitization which drove up operational costs.
However, with businesses and industries resuming operations, the demand for animal foods and livestock products has increased once more. This has boosted the need for animal healthcare and nutrition to ensure productivity and quality outputs. Manufacturers are focusing on teleconsultation and home delivery of medications to compensate for the reduction in clinic visits. The pandemic has highlighted the importance of zoonotic disease surveillance and prevention. More funding is being directed towards innovative research for developing vaccines, diagnostics and therapeutics. Overall, while facing initial setbacks, the animal healthcare market is projecting optimistic growth over the forecast period backed by increasing livestock importance and preparedness for future epidemics.
The Middle East and Africa animal healthcare market in terms of value is highly concentrated in Gulf Cooperation Council countries especially Saudi Arabia, UAE and Kuwait. This is due to rising meat consumption, large livestock populations and strategic investments in advanced animal facilities and technology. According to industry analysts, Egypt is emerging as the fastest growing regional market driven by population increments, growing pet care awareness and expansion of poultry and dairy industries. The government is supporting private players through subsidies, training programs and import duty relaxations to modernize the animal sector.
Get more insights on Middle East And Africa Animal Healthcare Market
Comments
0 comment