Seattle, WA -- (SBWIRE) -- 02/27/2020 -- Animal healthcare focuses on effective animal health management by diagnosing and treating the diseases. Outbreak of animal diseases restrict trading of animal protein and increases cost of disease management, which subsequently hampers economy of country's in Middle East and Africa region.
The Middle East and Africa animal healthcare market size was valued at US$ 3,332.0 million in 2017 and is expected to exhibit a CAGR of 5.5% over the forecast period (2018–2026).
Increasing incidence of zoonotic viral pathogens is expected to drive growth of the Middle East and Africa animal healthcare market over the forecast period. According to the World Health Organization (WHO) statistics published in 2018, over ten thousand death cases caused by rabies virus are reported annually in parts of Africa and Asia Pacific region. To address the increasing prevalence of these zoonotic diseases, regional governments are focused on initiatives to improve animal health and collaboration with manufacturers to promote research & development activities for new drug treatment.
Request Sample Copy for Industry Insights @ https://www.coherentmarketinsights.com/insight/request-sample/3019
Moreover, increasing number of expansion strategies adopted by manufacturers to expand their product portfolio and market presence is expected to propel growth of the market over the forecast period. In May 2017, Ceva Sante Animale launched Cevac Ibird vaccine in Egypt for active immunization of chickens from infectious bronchitis.
However, high cost of animal healthcare services and lack of pet insurance is expected to hinder growth of the Middle East and African animal healthcare market over the forecast period. Veterinary care for domestic pets in Saudi Arabia is expensive and can cost more than medical care for humans. The average cost of vaccinations, vet visits, medication, and supplies for a dog in UAE is approximately US$ 1000, annually. In case the animal is diagnosed with diseases, the overall cost is expected to increase. Therefore high animal healthcare cost is expected to restrain the growth of market in the Middle East and Africa
The Middle East is expected to hold dominant position in the Middle East and Africa animal healthcare market over the forecast period due to increasing demand for protein from animal source and increasing awareness about animal healthcare. According to the United States Department of Agriculture (USDA), the chicken meat production in Saudi Arabia reached 650,000 MT in 2018 and is expected to reach 700,000 MT in 2019. The local authorities in the Middle East and Africa regions regularly organize workshops to provide information about improving poultry production in the country.
Major manufacturers and research institutes are constantly investing in research & development activities to cater to rising demand for animal healthcare products and are collaborating with local authorities to increase awareness for animal healthcare in the region, are major factors that are expected to drive growth of the market over the forecast period. In February 2019, the Ministry of Environment & Agriculture of Saudi Arabia launched vaccination drive against foot and mouth disease (FMD) for cows and sheep in Saudi Arabia to prevent and control epidemic of these zoonotic diseases.
Get PDF Brochure of Research Report @ https://www.coherentmarketinsights.com/insight/request-pdf/3019
Major players operating in the Middle East and Africa animal healthcare market include Merck & Co., Inc., Zoetis, Boehringer Ingelheim International GmbH, Ceva, Bayer AG, Elanco, Evonik Industries AG, and Archer Daniels Midland Company.
About Coherent Market Insights
Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity.
Press Release: https://www.coherentmarketinsights.com/press-release/middle-east-and-africa-animal-healthcare-market-to-surpass-us-53815-million-by-2026-2474
Contact Us:
Mr. Shah
Coherent Market Insights 1001 4th Ave,
#3200 Seattle, WA 98154,U.S.
Phone: US +1-206-701-6702/UK +44-020 8133 4027
Email: sales@coherentmarketinsights.com
Research Insights: https://www.coherentmarketinsights.com/market-insight/middle-east-and-africa-animal-healthcare-market-3019