Mexico Veterinary Healthcare Market
Mexico Veterinary Healthcare Market Overview:
During the forecast period 2019 to 2025, the Mexico Veterinary Healthcare market is anticipated to be approximately 8% CAGR.
Veterinary drugs are related to animal treatment, diagnosis and disease prevention. It includes a range of wild and domestic animal species.
Increase in Ownership of Pet Animals:
There is a powerful link between people and their animals in Mexico. Nearly 58% of homes in the nation have animal families, of which 80% have dogs and 30% have cats National Institute of Statistics and Geography states. As part of the family, 18 million types of pet pets live in homes.
The demand for multiple goods and services in animal health stems from the will of animal owners to maintain their animals healthy and happy.
The propensity to develop animal diseases or disorders also contributes to the generation of demand due to the harsh circumstances.
The owners of urban animals are the main clients of animal health goods due to their elevated revenues and availability to animal nursing centers.
Due to the increasing number of bachelors and childless couples in the nation, livestock ownership in the nation is anticipated to continue to boost.
This elevated amount of unmarried/non-child homes increases the market in pet care.
In addition, the growing middle class can spend more on animal health.
In view of the trend towards increased ownership of pets in the nation, demand for health facilities and expenses for pets will also rise in multiple goods and services for veterinary health.
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The threat of emergent zoonosis, sophisticated technology leading to inventions and increasing sensitivity to animal health also contributes to the development of Mexico s market in veterinary healthcare.
Scarcity of Arable Land and Water:
Arable land and water scarcity are one of the main constraints in the Mexican animal health industry.
According to the World Bank, the nation accounts for less than 12% of agricultural property, 57% of pasture and fallow land, 26% of forest use and 6% of other use.
More than 70% of Mexico s water is used for agricultural purposes, leaving a lower share for industrial and household use.
Water usage is a significant problem for the Mexican Government other than for these three reasons.
Arable land scarcity is the consequence of a variety of human and environment considerations, including soil degradation, climate change, land restrictions, urban invasion and unequal land allocation.
The country s main food manufacturing systems have been threatened by widespread degradation and a scarcity of soil and water resources.
Reduction in arable soil and water creates issues with the provision of animal health resources. Water competition between food production and other uses such as animal husbandry intensifies pressure on the country s resource allocators.
As a consequence, animal production in many areas of the nation is small, limiting the market in animal health products and services with a declining veterinary population.
Increased costs of animal testing and veterinary services as well as the use of counterfeit drugs are curbing the development of the Mexico veterinary healthcare market.
Vaccines to lead the Market:
The Vaccines segment in Mexico veterinary healthcare market is expected to register a healthy CAGR during the forecasted period due to the presence of good healthcare infrastructure in the country, and it is also experiencing positive trends in the R&D developments.
Mexico Veterinary Healthcare Market Key Developments:
June 2018: Elanco Animal Health Introduced a new respiratory PRRS Vaccine, a modified-lived respiratory vaccine, efficient at reducing respiratory and piglet reproductive syndrome PRRS , two weeks or more.
Mexico Veterinary Healthcare Market Key Players:
- Abaxis Inc.
- Bayer healthcare
- Boehringer Ingelheim
- Ceva Animal Health Inc.
- Elanco Eli lilly and company
- Merck Animal Health
- Virbac Corporation
- Zoetis animal healthcare
- others
Reasons to Purchase Mexico Veterinary Healthcare Report:
- Current and future perspective for veterinary health in Spain.
- Analysis of different market views using Porter s five forces analysis.
- The segment that will dominate the market.
- Regions expected to experience the highest development over the prediction era.
- Identify the recent trends, market share and tactics used by key players in the industry.
- 3-month analyst support, together with the market estimate.
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