In a new report from Animal Pharm and Stonehaven Consulting – Growth Drivers 2020-2030 – industry expert Joseph Burkett outlines the evolution of the traditional animal health industry into what is now being described as the modern animal care industry.
The author analyzes the forces that have led to an increased emphasis on new approaches to accessing innovation via partnerships and acquisitions. The report also dives into several potentially transformational technologies and trends that hold promise for driving the sales growth of the animal care industry to 2030.
These include: acceleration of the adoption of telemedicine; online shopping and home delivery; digital solutions such as trackers; wearables that monitor vital health signs; implantable devices; artificial intelligence; and Big Data.
The report also highlights animal care’s likely transition over the next decade in the wake of the COVID-19 pandemic. It is important to note that most of this report was researched, developed and written prior to the emergence and the known scope of the COVID-19 crisis. As such, an introductory ‘Chapter Zero’ has been added to acknowledge the many implications that have become apparent for the animal care industry due to the virus.
The added chapter attempts to outline several short-term, mid-term and longer-term effects that have the potential to fundamentally alter various aspects of the animal care ecosystem for certain stakeholders in both the companion animal and food animal sectors. Readers are encouraged to consider the ongoing evolution of the COVID-19 scenarios as the dynamics change over time.
However, the basic premise of this report – the animal care industry will continue working to drive growth in the coming decade by endeavoring to leverage transformational technologies and trends – has ongoing relevance. This message remains an important element for industry growth.
As a result, Animal Pharm and Stonehaven Consulting still see the industry growing by 5-7% per annum to reach $90 billion by 2025.
The report gives an overview of the animal care market that developed after decades of consolidation – a sector that is witnessing a move toward adjacent and synergistic segments such as nutrition, diagnostics and digital technologies. The report also includes a focus on the latest large transaction in the form of Elanco’s pending acquisition of Bayer’s animal health business.
Numerous high potential areas for animal health are highlighted in the report, including:
*Nutrition and diagnostics – with emphasis on how some of the major competitors in animal care are finding and capitalizing on the synergies these segments bring to their core businesses;
*The digital revolution, including technologies/wearables and their place in the animal care segment;
*The role of data and artificial intelligence in the animal care market;
*How classical innovation will continue to grow and prosper as the central mechanism for meeting unmet medical needs in animal health; and
*The human health/animal health crossover, including technologies like cell and gene therapy and precision medicine.
The last section of this report describes how the start-up ecosystem and its role in bringing new technologies to the forefront of animal care will support the wider market’s evolution over the next decade.
Lire la suite: animalpharm.agribusinessintelligence.informa.com
