May 22, 2024

Middle East And Africa Animal Healthcare Market Is Estimated to Witness High Growth Owing to Increasing Demand for Protein Foods

Growing meat and dairy consumption has prompted farmers to focus on animal welfare through proper healthcare. The demand for animal-derived protein foods has been on the rise owing to population growth and improving economic conditions in the Middle East and Africa region.

The 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 2030.

Key Takeaways

Key players operating in the Middle East And Africa Animal Healthcare 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 market provides significant opportunities for companies engaged in the research and development of advanced animal health products. Growing population, rising awareness about animal welfare and demand for protein foods will drive the need for quality animal healthcare products.

Key players are expanding their presence across Africa and the Middle East through collaborations with regional animal producer associations and distributors. International companies see potential in these untapped markets and are introducing affordable products tailored to the regional requirements. Leveraging the strengths of local players, companies aim to improve disease management practices and livestock productivity.

Market drivers

The increasing demand for protein foods is a major driver spurring the growth of the Middle East And Africa Animal Healthcare Market Size. Meat and dairy products see strong demand attributed to rising incomes, urbanization, and changing diets. Farmers are prompted to adopt preventive animal care to ensure optimum health and productivity of livestock, thereby fulfilling the surging protein demand through quality meat and milk supplies. Adoption of advanced animal healthcare products allows early disease identification and treatment, contributing to increased yields.

PEST Analysis
Political: The government policies play a crucial role in regulating the animal healthcare market. Regulations regarding animal welfare practices and stringent laws to ensure quality standards will impact the market growth.
Economic: Growth of the livestock industry and rising pet adoption are fueling the demand for animal healthcare products in the region. Higher disposable incomes enable larger investments towards preventive animal care.
Social: Rising awareness about animal welfare and companion animals is shifting trends. People are increasingly willing to spend more on premium pet food and preventive animal care.
Technological: e-commerce is enabling wider access to animal healthcare products. Tech innovations in disease diagnostics, vaccines, and veterinary software solutions are helping improve standards of animal care.

The geographical region that accounts for a major share of the Middle East and Africa animal healthcare market value is Gulf Cooperation Council (GCC) countries. Countries like Saudi Arabia, UAE and Qatar have seen substantial growth in livestock production and companion animal ownership. Better economic conditions support higher spending on livestock and pet care.

The fastest growing region within the Middle East and Africa animal healthcare market is Sub-Saharan Africa. There is rising beef and poultry consumption along with increasing pet ownership in countries like Kenya, South Africa and Nigeria. Investments towards development of veterinary infrastructure and awareness programs are helping expand animal healthcare access in the region. Diseases like African swine fever also drive the need for preventive veterinary solutions.

Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it