Positive prognosis: Rising pet ownership helps revenue recover from declines in livestock

The Veterinary Pharmaceutical and Medicinal Product Manufacturing industry has posted a mixed performance over the past five years. Falling demand from agricultural industries has been countered by rising expenditure on pet health care. Industry revenue is expected to increase by 1.0% in 2018-19 as real household discretionary income increases, leading to demand for veterinary services. Overall, industry revenue is expected to decline at an annualised 1.7% over the five years through 2018-19, to reach $467.2 million.Rising pet ownership, use of pet insurance and expenditure per capita on pet health care have contributed to greater demand for animal vaccines, booster shots and nutritional supplements...read more.

Industry Statistics & Market Size
Revenue
$467m
Annual Growth 14-19
-1.7%
Forecast Growth 19-24
Profit
Employment
1,035
Businesses
36

Industry Threats & Opportunities

  • While pet ownership and insurance has risen, lower herd numbers have constrained revenue growth
  • Pet ownership has been increasing, with 64% of households found to own a pet in 2017
  • The companion animal market is expected to be the primary source of growth over the next five years
  • Industry Report - Industry Products Chapter

    Industry products are principally developed for the prevention, treatment and control of disease in livestock and companion animal species. Industry products also include nutritional supplements, reproductive management items and pain relief medications.ParasiticidesThis product segment is typically used for the treatment of parasites in animals. Parasites can occur internally, such as tapeworms, or externally, such as fleas. Parasites are often transferred among animals easily, requiring more frequent treatment than other illnesses. Over the past five years, growing uptake of pet insurance policies that cover parasiticide treatments has lifted consumer demand for these products. As a result, this segment has increased as a share of revenue over the period...purchase to read more.

    Additional Insights for the Veterinary Pharmaceutical and Medicinal Product Manufacturing Industry

    IBISWorld has determined the most important Key Success Factors for the Veterinary Pharmaceutical and Medicinal Product Manufacturing are:

  • Having a good reputation
  • Having marketing expertise
  • Use of specialist equipment or facilities
  • IBISWorld analysts also discuss how external factors such as Demand from beef cattle farming and Demand from sheep farming in the Veterinary Pharmaceutical and Medicinal Product Manufacturing industry impact industry performance..

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    What's in this report

    What is the Veterinary Pharmaceutical and Medicinal Product Manufacturing in New Zealand Industry?

    Operators in this industry primarily manufacture drugs, medicines, medicinal chemicals, vaccines, serums and other pharmaceutical products for veterinary use.

    Industry Products
  • Parasiticides
  • Vaccines and immunology products
  • Antibiotics
  • Industry Activities
  • Parasiticides
  • Immunotherapy product (including vaccines)
  • Nutritional and metabolism product
  • Antibiotics
  • Other animal healthcare product
  • Table of Contents

    Industry Definition
    Main Activities
    Similar Industries
    Additional Resources
    Industry Statistics Snapshot
    Industry Structure
    Executive Summary
    Executive Summary
    Key External Drivers
  • Demand from beef cattle farming
  • Demand from sheep farming
  • Number of households
  • Real household discretionary income

  • Current Performance
  • Pets and vets
  • Livestock and farmers
  • Cost structure
  • Industry structure
  • Chart: Revenue Growth

  • Industry Outlook
  • Companion animals
  • Livestock animals
  • Cost structure
  • Industry structure
  • Table: Veterinary Pharmaceutical and Medicinal Product Manufacturing Industry Revenue Outlook

  • Industry Life Cycle
  • Life cycle reasons
  • Chart: Benchmarking - Veterinary Pharmaceutical and Medicinal Product Manufacturing Industry Lifecycle vs The Economy

  • Supply Chains
    Key Buying Industries
  • Horse Farming in New Zealand
  • Veterinary Services in New Zealand
  • Pharmaceutical and Toiletry Goods Wholesaling in New Zealand
  • Deer, Pig and Other Livestock Farming in New Zealand
  • Sheep-Beef Cattle Farming in New Zealand

  • Key Selling Industries
  • Corrugated Paperboard and Paperboard Container Manufacturing in New Zealand
  • Medical, Surgical and Scientific Equipment Manufacturing in New Zealand

  • Products & Services
  • Parasiticides
  • Other
  • Vaccines and immunology products
  • Antibiotics
  • Chart: Veterinary Pharmaceutical and Medicinal Product Manufacturing Industry Products and Services Segmentation

  • Demand Determinants
    Major Markets
  • Veterinary practices
  • Agriculture sector
  • Retailers and other
  • Wholesalers
  • Export markets
  • Chart: Major Market Segmentation for the Veterinary Pharmaceutical and Medicinal Product Manufacturing Industry

  • International Trade
    Business Locations
    Chart: Business Locations by State
    Market Share Concentration
    Key Success Factors
    Cost Structure Benchmarks
  • Chart: Cost Structure Benchmarking – Sector vs Veterinary Pharmaceutical and Medicinal Product Manufacturing

  • Basis of Competition
  • Internal competition
  • External competition

  • Barriers to Entry
  • Table: Barrier to Entry Checklist for the Veterinary Pharmaceutical and Medicinal Product Manufacturing Industry

  • Industry Globalization
    Schering-Plough Animal Health Limited, Zoetis New Zealand Limited, Virbac New Zealand Limited,
  • Table: Schering-Plough Animal Health Limited - financial performance
  • Table: Zoetis New Zealand Limited - financial performance
  • Table: Virbac New Zealand Limited - financial performance

  • Capital Intensity
  • Chart: Level of Capital Intensity for the Veterinary Pharmaceutical and Medicinal Product Manufacturing Industry
  • Chart: Tools of the Trade: Growth Strategies for Success

  • Technology & Systems
    Revenue Volatility
  • Chart: Volatility vs Industry Growth

  • Regulation & Policy
    Industry Assistance
    Table: Industry Data for the Veterinary Pharmaceutical and Medicinal Product Manufacturing Industry
    Includes:
  • Industry Revenue (2010-2024)
  • Industry Gross Product (2010-2024)
  • Establishments (2010-2024)
  • Businesses (2010-2024)
  • Employment (2010-2024)
  • Exports (2010-2024)
  • Imports (2010-2024)
  • Wages (2010-2024)

  • Table: Annual Percentage Change for Key Industry Data
    Table: Key Ratios for Industry Key Data
    Anaesthetics
  • Medications that create a complete or partial loss of feeling for a short time period. Anaesthetics are classified as general, regional or local.
  • Analgesics
  • Temporary pain relief medication. This can be administered internally or externally.
  • Companion Animal
  • Animals that are not owned for breeding, performance or agriculture purposes, such as dogs, cats, rabbits, birds and seeing-eye dogs.
  • Dermatology
  • The branch of medicine concerned with diagnosing and treating ailments in the skin, hair and nails.
  • What Our Customers Say

    Why buy this report?

    IBISWorld’s Veterinary Pharmaceutical and Medicinal Product Manufacturing in New Zealand market research report offers insightful industry analysis and research into the market at the national level. IBISWorld’s in-depth industry market research is presented in a logical and consistent format. The industry report contains key industry statistics, market size, industry trends, and growth and profit forecasts for a 5-year outlook period.

    IBISWorld industry market research reports enable you to:
    • Find out about key industry trends
    • Identify threats and opportunities
    • Inform your decisions for marketing, strategy and planning
    • Quickly build competitive intelligence
    This report on Veterinary Pharmaceutical and Medicinal Product Manufacturing in New Zealand:
    • Provides Market Size information to assist with planning and strategic decisions.
    • Includes the necessary information to perform SWOT, PEST and STEER analysis.
    • Helps you understand market dynamics to give you a deeper understanding of industry competition and the supply chain.
    • Analyses key performance and operational metrics so that you can benchmark against your own business, that of your customers’ businesses, or your competitors’ businesses.
    The Veterinary Pharmaceutical and Medicinal Product Manufacturing in New Zealand market research report includes:
    • Historical data and analysis for the key drivers of this industry
    • A five-year forecast of the market and noted trends
    • Detailed research and segmentation for the main products and markets
    • An assessment of the competitive landscape and market shares for major companies
    • And of course, much more

    IBISWorld reports on thousands of industries around the world. Our clients rely on our information and data to stay up-to-date on industry trends across all industries. With this IBISWorld Industry Research Report on Veterinary Pharmaceutical and Medicinal Product Manufacturing in New Zealand, you can expect thoroughly researched, reliable and current information that will help you to make faster, better business decisions.

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