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Mexico Veterinary Healthcare Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Mexico Veterinary Healthcare Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

  • October 2022
  • 106 pages
  • ID: 6360536
  • Format: PDF
  • Mordor Intelligence LLP

Summary

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Mexico veterinary healthcare market is projected to lead an increasing demand for various animal healthcare products and services, as the pet owners are essentially focusing on keeping their pets healthy. Furthermore, a growing number of pet adoptions and concern related to animal health in Mexico is anticipated to fuel the market growth over the forecast period.

According to USDA’s Foreign Agricultural Service (FAS) Report 2017, cattle production is increased from 7.1 million in 2016 to 7.3 million in 2017 in Mexico. This increase in the number of cattle can be directly attributed to the increased export of beef by Mexico. ?Additionally, the risk of emerging zoonosis, advanced technology leading to innovations, and increased awareness about animal health are the factors responsible for the growth of the market studied.

However, scarcity of arable land and water is leading to problems, primarily in terms of the provision of resources for animal health. Thus, these factors are restraining the growth of the market studied.

Key Market Trends

Molecular Diagnostics Projected to Hold Significant Share

Increasing incidence of animal diseases is the major factor driving the growth of the Mexican veterinary molecular diagnostics segment, as these diseases can be diagnosed easily with the help of molecular diagnostics.
According to the estimates of the Food and Agriculture Organization (FAO), in 2017, 6,801 thousand metric ton of meat was produced and 2,167 thousand metric ton of meat were imported to the country. Thus, the increasing consumption of animal-based products is expected to create a huge demand for veterinary molecular diagnostics.
The Mexican cattle and beef industry evolved rapidly in the past decade. For Mexico, the United States is the most significant market, which accounted for 89% of the total exports in 2017. In Mexico, the growing beef industry is expected to create a wide range of opportunities for the players in the molecular diagnostics segment. Furthermore, there are various initiatives to curb the rising incidences of animal diseases in Mexico.
For instance, the US Meat Export Federation (USMEF) and the US Poultry and Egg Export Council are leading a one-year project to help Mexico, in developing systems, procedures, and infrastructure, mainly to control and eradicate two key animal diseases impacting the Mexican pork and poultry industries.
In Mexico, there are various diagnostic laboratories, and the rising need for diagnostic techniques, in order to protect the animals from various diseases, is expected to drive the market’s growth.

Competitive Landscape

The Mexican veterinary healthcare market is primarily dominated by few players. However, currently, some of the companies are focusing on penetrating the market and are expected to hold a substantial market share. Major Players are Zoetis Animal Healthcare, Merck Animal Health, Bayer Animal Health, Ceva Animal Health Inc., Virbac Corporation, Boehringer Ingelheim, and Elanco Animal Health, among others.

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