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Special Report: Animal Health Growth Drivers 2020 to 2030 from Stonehaven Consulting and IHS Markit says the quest for innovation in the animal health industry has accelerated over the past few years. The leading companies in animal care have developed strategies to offset the maturation of their product portfolios and worked to diversify the ways they offer complete health solutions to veterinarians, livestock producers, aquaculture professionals and pet owners.
The report follows last year’s popular publication, The New World of Innovation in Animal Care, which introduced the concept of top companies in animal care beginning to converge technologies in animal nutrition, diagnostics, vaccines and therapeutics in their ongoing effort to generate dynamic growth for their overall businesses.
“The potential benefits of investing in the animal care market today have never been stronger, and the related potential breakthroughs in animal medicine have never been more exciting,” said report author Joseph Burkett.
“Most importantly, as company growth strategies have shifted to include a significant emphasis on external opportunities to supplement internal development, the increase in demand for external innovation has been dramatic,” he said.
“The availability of new technologies in animal care and a proliferation of partnership opportunities in recent years have rapidly expanded the sources of innovation for the industry’s leading competitors."
“At present, virtually all the top players are proactively inviting collaborations with related industries and with startup companies to potentially create synergies with their current core research programs.”
The report suggests that for decades, consolidation has been a huge avenue for climbing the industry rankings in terms of sheer size, and that approach will continue to be a large factor in that quest. Today, however, industry elements like the emergence of an exciting startup company ecosystem, strategic moves into adjacent and synergistic market areas, and increasing investments in an evolving biotechnology sector are adding significantly to the ways companies are working to maximise the value they bring to customers.
“The report describes the new animal care industry that is emerging as a result of the broader view companies are taking in their research and development programs, and in the ways they are defining and addressing their customer bases in the various market segments where they compete,” said Mr Burkett.
Finally, the new publication looks at how the startup company investment ecosystem and its role in bringing new technologies to the forefront of animal care – in addition to the ongoing investments in all of these technologies, trends, and factors – will support the animal care market’s evolution over the next decade.
The report was researched, developed and written before the emergence and known scope of the COVID-19 crisis, so an introductory chapter has been added to acknowledge the many implications that have become apparent for the animal care industry due to the virus.
The added chapter outlines 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 throughout both the companion animal and farm animal sectors. Readers are encouraged to consider the ongoing evolution of the COVID-19 scenarios as the dynamics change over time.
Special Report: Animal Health Growth Drivers 2020 to 2030 is available here.
June 1, 2020 - Stonehaven Consulting
