Middle East And Africa Veterinary Pharmaceutical Market Size, Share, Opportunities, And Trends By Type (Oral, Injectables, Topical, Auricular, Ophthalmic, And Nasal), By Animal Type (Production Animals (Poultry, Cattle, Others), Companion Animals (Canine, Feline, Equine And Others)), By End User (Vet Hospitals And Clinics, Animal Farms, Others), And By Country - Forecasts From 2023 To 2028
- Published : Oct 2023
- Report Code : KSI061616078
- Pages : 98
The Middle East and Africa veterinary pharmaceuticals market is estimated to grow at a CAGR of 6.14%, reaching US$392.695 million in 2028 from US$258.827 million in 2021.
The Middle East and Africa veterinary pharmaceuticals industry is experiencing significant growth, driven by a confluence of factors that underscore its pivotal role in the region's agricultural and companion animal sectors.
Growing drivers for Middle East and Africa veterinary pharmaceutical market
The MEA region has witnessed a remarkable surge in demand for animal-derived protein products, primarily fueled by population growth and evolving dietary preferences. This dynamic has heightened the need for veterinary pharmaceuticals to ensure the health and productivity of livestock. Moreover, on the other hand, the MEA region is susceptible to periodic outbreaks of animal diseases that can have severe repercussions on agriculture and food security. Veterinary pharmaceuticals play a pivotal role in both preventing and managing these diseases, positioning them as indispensable components of the region's agricultural sector.
Increase in pet ownership
The surge in pet ownership across South Africa is playing a pivotal role in driving the growth of the Middle East and African veterinary pharmaceuticals market. As an increasing number of South Africans embrace companion animals as cherished members of their families, there is a notable increase in demand for veterinary healthcare products and services. This heightened demand encompasses a wide spectrum of veterinary pharmaceuticals, including vaccines, prescription medications, dietary supplements, and parasite control solutions, which are essential for ensuring the health and well-being of pets. According to Wisconsin Economic Development Corporation in the year 2022, the rise in in pet ownership in South Africa boosted the sales of pet care products in an an industry with revenue of USD 460 million (R7.1 billion) in South Africa.
Growth in disposable income
Economic factors also come into play as South Africa's economic development has translated into rising disposable incomes for many households. This economic stability empowers individuals and families to afford the associated costs of pet ownership, including veterinary pharmaceuticals and medical care which is boosting the Middle East and African veterinary pharmaceuticals industry. Beyond economic considerations, there has been a notable cultural shift towards viewing pets as integral members of the family in South Africa. This cultural transformation has instilled a stronger emphasis on the well-being of pets, fostering a greater willingness among pet owners to invest in their animals' health and happiness through veterinary pharmaceuticals. In tandem with the cultural shift, access to information and education about pet care and health has improved, leading to heightened awareness among pet owners regarding the pivotal role of veterinary pharmaceuticals in maintaining their pets' overall well-being. This educational aspect further propels Middle East and Africa veterinary pharmaceuticals market growth.
South African veterinary pharmaceutical is projected to propel
As the livestock industry expands to meet growing consumer demand, there is a greater need for pharmaceuticals to maintain the health and well-being of animals. To add to that, the presence of various livestock diseases, such as foot-and-mouth disease and avian influenza, necessitates the use of vaccines, antibiotics, and other pharmaceuticals to prevent and manage these diseases. Moreover, advances in pharmaceutical research and development have led to more effective and efficient veterinary drugs, which can drive Middle East and Africa veterinary pharmaceuticals market growth as farmers seek better solutions. For example, Bupo Animal Health launched BACTEFORT® in 2020, an effective treatment for poultry bacterial respiratory diseases, boasting improved sensitivity, absorption, and low toxicity compared to conventional oxytetracycline.
Scarcity of veterinary drug production in the region
The Middle East and African veterinary pharmaceuticals market exhibit growth potential due to the scarcity of veterinary drug production in Sub-Saharan Africa. Only select nations possess private drug manufacturers, primarily tertiary producers like Bupo Animal Health (formerly Bedson) in South Africa and Cooper-K in Kenya. The production of veterinary drugs typically relies on public veterinary organizations, emphasizing the production of straightforward generic medications. These efforts are geared towards supporting veterinary public health endeavors, such as vaccination campaigns and parasite control, particularly for small-scale farmers. This situation presents growth opportunities for South African veterinary pharmaceutical companies.
Rising demand for meat and dairy products in South Africa
The rising demand for meat and dairy products in South Africa's growing population drives the need for healthy and disease-free livestock, leading to a higher demand for veterinary pharmaceuticals. South Africa's agricultural exports, including meat and dairy products, depend on the health and quality of livestock. Meeting international health and safety standards necessitates the use of veterinary pharmaceuticals. For instance, according to the USDA, South Africa's chicken meat exports in 2023 are expected to grow by 4% due to improved animal health conditions and sustained demand from Southern African markets. Meanwhile, the relatively high beef consumption at 17.4 kilograms indicates the need for pharmaceutical products and services to ensure the health and productivity of cattle. Additionally, the moderate consumption of sheep, lamb, and goats at 2.8 kilograms and lower pork consumption at 5.4 kilograms also suggest demand for veterinary pharmaceuticals to safeguard the health of these livestock populations. This diverse meat consumption landscape reflects a varied market demand, reinforcing the veterinary pharmaceutical sector's significance in South Africa's agricultural industry.
Market Product Offerings
- United Company for Veterinary Medicines Industry (UNIVET), Bravecto vaccine, Frontline Plus spot-on treatment, Heartgard Plus chewable tablets, and Nexgard Spectra chewable tablets among others.
- Montajat Company, Advantage Multi cat topical solution, Milbemax tablets, Canine distemper vaccine, Nobivac Lepto vaccine tablets among others.
- MSD Animal Health, Convenia injection, Zymox ear cleaner, Apoquel tablets, Revolution topical solution tablets.
- By Type
- Auricular, Ophthalmic, and Nasal
- By Animal Type
- Production Animals
- Companion Animals
- Equine and Others
- Production Animals
- By End User
- Vet Hospitals and Clinics
- Animal Farms
- By Country
- Saudi Arabia
- South Africa
1.1. Market Overview
1.2. Market Definition
1.3. Scope of the Study
1.4. Market Segmentation
1.7. Base, and Forecast Years Timeline
2. RESEARCH METHODOLOGY
2.1. Research Data
3. EXECUTIVE SUMMARY
3.1. Research Highlights
4. MARKET DYNAMICS
4.1. Market Drivers
4.2. Market Restraints
4.3. Porter’s Five Force Analysis
4.3.1. Bargaining Power of Suppliers
4.3.2. Bargaining Power of Buyers
4.3.3. Threat of New Entrants
4.3.4. Threat of Substitutes
4.3.5. Competitive Rivalry in the Industry
4.4. Industry Value Chain Analysis
5. MIDDLE EAST AND AFRICA VETERINARY PHARMACEUTICAL MARKET, BY TYPE
5.5. Auricular, Ophthalmic, and Nasal
6. MIDDLE EAST AND AFRICA VETERINARY PHARMACEUTICAL MARKET, BY ANIMAL TYPE
6.2. Production Animals
6.3. Companion Animals
6.3.3. Equine and Others
7. MIDDLE EAST AND AFRICA VETERINARY PHARMACEUTICAL MARKET, BY END-USER
7.2. Vet Hospitals and Clinics
7.3. Animal Farms
8. MIDDLE EAST AND AFRICA VETERINARY PHARMACEUTICAL MARKET, BY COUNTRY
8.2. Saudi Arabia
8.9. South Africa
9. COMPETITIVE ENVIRONMENT AND ANALYSIS
9.1. Major Players and Strategy Analysis
9.2. Mergers, Acquisitions, Agreements, and Collaborations
9.3. Vendor Competitiveness Matrix
10. COMPANY PROFILES
10.1. United Company For Veterinary Medicines Industry (UNIVET)
10.2. Montajat Company
10.3. MSD Animal Health?
10.4. Vetoquinol India Animal Health Pvt Ltd.
10.5. VAPCO Manufacturing CO. Ltd.
10.6. Saudi Pharmaceutical Industries SPI
10.7. Pharma Care Leading Manufacturing Co. Ltd.
10.8. The Arab Pesticides and Veterinary Drugs Mfg.Co (Mobedco)
10.10. Merck & Co., Inc
United Company For Veterinary Medicines Industry (UNIVET)
MSD Animal Health?
Vetoquinol India Animal Health Pvt Ltd.
VAPCO Manufacturing CO. Ltd.
Pharma Care Leading Manufacturing Co. Ltd.
The Arab Pesticides and Veterinary Drugs Mfg.Co (Mobedco)
Merck & Co., Inc
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