CATEGORY

Veterinary Healthcare Services

Trials on Animal Health for the vertirinary market.

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Veterinary Healthcare Services Industry Benchmarks


Savings Achieved

(in %)

The average annual savings achieved in Veterinary Healthcare Services category is 5.40%

Payment Terms

(in days)

The industry average payment terms in Veterinary Healthcare Services category for the current quarter is 73.4 days

Compare your category performance against peers and industry benchmarks across 20+ parameters on Beroe LiVE.Ai™

Category Strategy and Flexibility

Engagement Model

Supply Assurance

Sourcing Process

Supplier Type

Pricing Model

Contract Length

SLAs/KPIs

Lead Time

Supplier Diversity

Targeted Savings

Risk Mitigation

Financial Risk

Sanctions

AMEs

Geopolitical Risk

Cost Optimization

Price per Unit Competitiveness

Specification Leanness

Minimum Order Quality

Payment Terms

Inventory Control

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    Veterinary Healthcare Services Suppliers


    1,753
    Total Suppliers
    72
    Diverse Suppliers
    73
    Normalized Supplier Rating
    Veterinary Healthcare Services Supplier

    Find the right-fit veterinary healthcare services supplier for your specific business needs and filter by location, industry, category, revenue, certifications, and more on Beroe LiVE.Ai™.

    Sample Supplier
    Company
    IQVIA HOLDINGS INC.
    Location
    Jackson, Mississipi
    Duns number
    3862211

    D&B SER Rating

    dnb logo

    Up to 3 months

    1 9
    4
    Low Risk High Risk

    The Supplier Evaluation Risk (SER) Rating is Dun & Bradstreet’s proprietary scoring system used to assess the probability that a business will seek relief from creditors or cease operations within the next 12 months. SER ratings range from 1 to 9, with 9 indicating the highest risk of failure. We’ve prepared an infographic to help business owners better understand what influences their SER Rating.

    Moody`s ESG Solution
    ESG Profile

    Company and Sector Performance
    36

    100
    Limited (1)
    ESG Perfomance (/100)
    Environment
    41
    Social
    30
    Governance
    43
    6 Domains Performance (/100)
    Business behaviour
    48
    Human rights
    39
    Community Environment
    31
    Corporate governance
    40
    Human resources
    22
    Security Scorecard
    77

    Threat indicators
    C
    75
    Network Security
    Detecting insecure network settings
    A
    100
    Hacker Chatter
    Monitoring hacker sites for chatter about your company
    D
    63
    DNS Health
    Detecting DNS insecure configuration and vulnerabilities
    C
    70
    Application Security
    Detecting common website application vulnerbilities
    C
    77
    Endpoint Security
    Detecting unprotected enpoints or entry points of user tools, such as desktops, laptops mobile devices, and virtual desktops
    A
    100
    Cubic Score
    Proprietary algorithms checking for implementation of common security best practices
    D
    60
    Patching Cadence
    Out of date company assets which may contain vulnerabilities of risk
    A
    100
    Social Engineering
    Measuring company awareness to a social engineering or phising attack
    A
    100
    IP Reputation
    Detecting suspecious activity, such as malware or spam, within your company network
    A
    100
    Information Leak
    Potentially confidential company information which may have been inadvertently leaked

    Industry Comparison
    iqvia.com
    Industry average
    Adverse Media Appearances
    Environmental Issues
    0
    Workforce Health Safety Issues
    0
    Product Service Issues
    1
    Human Rights Issues
    0
    Production Supply Chain Issues
    0
    Environmental Non Compliance Flags
    1
    Corruption Issues
    0
    Regulatory Non Compliance Flags
    2
    Fraud Issues
    0
    Labor Health Safety Flags
    0
    Regulatory Issues
    2
    Workforce Disputes
    0
    Sanctions
    0
    esg energy transition
    28
    Discrimination Workforce Rights Issues
    0
    esg controversies critical severity
    No

    Veterinary Healthcare Services market report transcript


    Global Market Outlook on Veterinary Healthcare Services

    Market Revenue (2020E): $40.1 Billion
    CAGR Growth Rate: 8 percent between 2020 and 2025

    • The evolution of new diseases offers untapped opportunities for the animal healthcare market. To find enhanced solutions for the prevailing and new diseases, the companies in the animal health market are increasing their research and development activities

    • Customers of this market are predominantly distributed in the west

    • Major growth is expected to arise from APAC, LATAM, MEA, and some East European countries. APAC, which is one of the highest producers of animal meat in the world, is expected to consume the highest amount of feed additive, followed by North America

    • North America and Western Europe is a potential market for companion animal products whether it be pharmaceuticals or vaccines

    • Japanese companies haven't performed as well in the last few years, they seem to have quite flat growth, while the Chinese companies are seeing a big double-digit rise in their annual revenues

    Regional Analysis

    Buyers can leverage low country labor advantage by engaging with suppliers that have presence across the globe, as this would also ensure method transfer from advanced country lab to low cost country lab smoothly

    • Pharma companies prefer engaging with contract labs closer to their manufacturing facilities, as they can avoid delay in transportation
    • Contract testing service providers (e.g., Catalent) are expanding their facilities in emerging markets, such as China and India

    Global Market Share by Application Area

    Market Scenario

    • The global demand for both commercial and companion animals is increasing and many AH solutions are relevant to both markets. E.g., the growing middle classes in China are increasingly after a protein-rich diet that includes meat, eggs, and milk
    • But to meet demand, this often entails problematic farming practices, such as cramming animals into smaller spaces, which inevitably leads to the spreading of contagious diseases
    • To increase their margins, farmers are heavily reliant on feed additives and administering vaccines
    • That's why finding innovative solutions to AH have become vital for combatting the drawbacks of modern industrial farming
    • Pet adoption rates are increasing, as people are increasingly opting for animal companionship. This may lead to the growth of the pet animal market over the coming years
    • Indian market growth is propelled by animal husbandry. About 10 percent of global livestock population belongs to India and India is among the largest producer of cattle, chicken, and fish

    Outsourcing Adoption and Drivers

    • The scale of outsourcing is increasing in AH R&D, as innovation outpaces internal research capabilities
    • A large portion of the functions are outsourced to functional CROs, who specialize in various phases, such as field studies and discovery R&D
    • Off-shoring to emerging markets, unlike human health R&D, is restricted, owing to that fact that field studies ought to be done in the target commercial markets and the poor track record of discovery/innovation in developing markets
    • Hence, the US and EU would be the leading destinations for contracted work and are likely to account for over 50 percent of the AH CRO market

    Growth Drivers and Constraints

    Drivers

    • Consumers' demand for natural products and food processor's demand for transparent labeling would drive the demand of Animal Healthcare categories
    • Development in micro-encapsulation techniques and packaging innovation would give thrust to carotenoid market
    • The growing number of foodborne and zoonotic diseases is also fueling the animal healthcare market
    • Extensive implementation of animal vaccination programs and mandatory animal vaccination in some countries will propel the market growth
    • Growing pet adoption and spend on their healthcare by people, due to favorable government initiatives and increasing disposable incomes in emerging economies

    Constraints

    • Regulations against the excess use of antibiotics in production animals, and legislations and protest of animal activists and institutions against animal research
    • Declining veterinarian population is also posing a challenge to the animal healthcare industry

    Market Trends

    The animal healthcare market remains highly competitive and fragmented albeit leading companies continuing to consolidate their market position through high-profile and strategic acquisitions. Innovation: A competitive landscape between the top companies has led to the introduction of new products and vaccines with a view to strengthen their position in the market. Companies yearly invest around 10–12 percent of their sales on innovations in animal health. However, the low research and development returns might shift their focus into mergers and acquisitions, leading to market consolidation. E.g., Virbac launched Speed Reader, a range of biomarker tests for the used for the detection of parasitic and infectious diseases in companion animals and cattle in January 2018.

    • The Animal Healthcare (AH) market is currently fragmented with the top 10 AH companies accounting for less than ~75 percent of the global sales. Industry consolidation over the last decade has resulted in high market share concentration
    • However, the market is volatile because of the large number of mergers and acquisitions taking place in the market. The on-going M&A trend in the AH market will create a strong sellers market
    • Approximately 3.2 million shelter animals are adopted each year in the U.S.
    • Globally, the adoption of animals has increased, thereby fueling the growth of AH market
    • Zoonotic diseases in humans are mostly transferred through livestock. Thus, there is a widespread implementation of animal vaccination programs. Some countries are also adopting mandatory animal vaccination, which might propel business growth
    • The increase in zoonotic diseases and compulsory animal immunization by regulatory authorities might fuel growth of the companion animal market
    • Harmonization with other countries is the sole focus in the U.S. regulatory systems with regards to the animal healthcare sector
    • Vision 2025 by IFAH focuses on maximizing innovation, removing unnecessary administrative burden. As countries, like Finland, do not have many authorized vet medicines, this Vision will improve available drugs in the market.