According to the recent research report titled ‘Asia Pacific Animal Healthcare Market Share By Product, Animal Type, Distribution Channel, Industry Analysis Report, Regional Outlook, Application Potential, Competitive Market Share & Forecast, 2020 – 2026’, available with Market Study Report, Asia Pacific animal healthcare market is projected to reach USD 56 billion by the year 2026.
 

Favorable government initiatives towards pet care and surging demand for online veterinary pharmacies are the primary growth drivers of Asia Pacific animal healthcare market. In addition, appealing insurance schemes in Asian economies such as Nepal, Sri Lanka, and Thailand among others will also contribute to the market outlook.
 

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Notably, pet care has become easier with advancements in healthcare devices such as automated feeders and pet cams. Applications such as DogVacay and Wag offer features that help pet sitters and walkers, while also aiding in reunion of lost pets using facial recognition.
 

Moreover, veterinary online pharmacies like VETINDIA, SAVAVet, Marshalls Pet Zone, and Alva Animal Care among others offer pet care products, drugs, injections, supplements, and vaccinations, hence boosting the popularity of animal healthcare market in Asia Pacific.
 

As per product terrain, pharmaceuticals segment held majority share of Asia Pacific animal healthcare market in 2019 and is projected to record a CAGR of 5.5% over the analysis period. Extensive usage of antibiotics as growth promoters and therapeutic veterinary drugs will propel the market growth. Besides, growing production of livestock animals and rising cognizance regarding animal well-being will also foster the segmental growth.
 

Based on animal type, companion animals segment was worth USD 32,000 million in the year 2019. The segmental growth is credited to surging adoption of animals to remedy loneliness and for security purposes across the region. Further, increasing emphasis on animal healthcare as well as vaccination and rising disposable income are complementing APAC animal healthcare market trends.
 

In term of distribution channels, Asia Pacific animal healthcare market from distributors segment is likely to amass USD 24,500 by the year 2026, owing to growing trend of animal care & nutrition across the region. Additionally, wide-ranging product and service portfolio provided by the distributors will contribute to the segmental share.
 

Citing the regional landscape, India animal healthcare market is projected to expand at 5.7% CAGR during the analysis period. The growth is attributable to increasing government initiatives, for instance, AWBI (Animal Welfare Board of India) encourages animal welfare. It offers grants which are used for construction of shelter houses, animal rescue, birth control & immunization, and maintenance of sheltered animals.
 

Leading organizations in Asia Pacific animal healthcare market are IDEXX Laboratories, Elanco, B. Braun Melsungen AG, and Bayer AG among others.