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Title:-Animal Health Care Industry in India: An analysis of Strength, Weakness,
Opportunity and Threats
K.S.Niranjan
(Senior Researcher & Consultant at Public &
Private Value Added Marketing
Cattle
1400
Buffalo
195
Poultry
22000
Goat
875
Sheep
1043
Pigs
963
Pets
260
Source: FAOSTAT
World Livestock Population (in Mn. Heads)-2011
2K.S.Niranjan
0
5000
10000
15000
20000
25000
Global Animal Healthcare Market :2005-2011
2005 2006 2007 2008 2009 2010 2011
Year
USDMillion
3
K.S.Niranjan
North America
33%
Latin America
14%
Europe
32%
Asia-Rest of
World
21%
Total Market: 22 Billion USD
Geographical Segmentation: Global Animal Health Market-2011
4
K.S.Niranjan
62%
Pharmaceutical
26%
Biologicals
12%
Medicinal Feed
Additive
Global Animal Healthcare Market by Product:2011
•Anti-infective
•Paraciticides
•Others
5
K.S.Niranjan
60%
Food
Animals
40%
Companion
Animal/
Others
-Cattle
-Poultry
-Pigs
-Sheep
-Goat
Global:- Species-wise Market Share: 2011
6
K.S.Niranjan
Companion
Animal
39%
Ruminants.
30%
Swine.
18%
Poultry
11%
Aquaculture
2%
13%
Global Animal Health Market -(22Bn)
Global Animal Healthcare Market by Species:2011
7
K.S.Niranjan
0
1000
2000
3000
4000
5000
6000
7000
8000
9000
10000
2007 2008 2009 2010 2011
Global AH Market trend: 2007 to 2011
Companion Animals Cattle Pigs Poultry Sheep Aqua
Sales in Mn.USD Source: Vetnosis
8K.S.Niranjan
Company Revenue-2011( $ Mn.) % share Growth %
Over 2010
Pfizer Animal Health Ltd. 4170 18.9 8.7%
Merck 3195 14.5 10.6%
Sanofi Aventis (Merial) 2783 12.7 7.4%
Elanco 1729 7.9 13.1%
Bayer Healthcare 1500 6.8 7.4%
Boehringer Ingelheim 1319 6.0 11.8%
Novartis 1187 5.4 7.0%
Virbac 811 3.7 12.5%
Ceva 740 3.4 12.3%
Vetoquinol 398 1.8 4.3%
All others 4260 19.4 11.3%
Total 22092 100.0 9.7%
Market Share of Major Players of Global Animal Healthcare Industry -2011
9K.S.Niranjan
Pfizer 18.9%
Merck
14.5%
Merial
12.6%
Elanco 7.8%
Bayer
6.8%
Boehringer
6%
Novartis
5.4%
Virbac 3.7%
Ceva 3.3%
Vetoquinol 1.8%
All others
19.3%
MarketShare
GlobalAnimal
HealthcareCompany
10
K.S.Niranjan
Mega
Trends
$ 22 billion Market in 2011
7% CAGR ( 2005-2011)
Growing global affluence drives protein consumption.
Continuing growth in largest segment companion animals.
 The general trend in animal health is towards quality, safer
and more efficacious products.
Growth
Drivers
Focus R&D investment on innovation and state of the-art
&science.
 Capitalize on rapid growth of companion animals segment
and geographical expansion in developing nations.
Transformation from many disease control and prevention
through bio-security and usage of biological products.
Global Animal Healthcare Market:
Snapshots
11K.S.Niranjan
 AHC
Industry
Highly
Fragmented
 Largest
Animal
population
Heads.
 Large
Untapped
Potential
 Political
factors
Moderately
favourable
 Economic
condition
poor
 Used
traditional
medicine
 Superstitiou
s belief
 Companion
animals &
aqua
segment set
to grow
 Trend of
therapeutics
and
Medicinal
feed
Supplement
 Price
Competitive
 Copy cat
Brands
 Regional
Players in
Many
Products
 Moderate
competition
 Emergence
of new
Diseases
 Entrance of
MNC
 Expansion
of Field
Force
 Awareness
Campaign
Market
Structure
Long Term
Trend
Majors
Growth
Drivers
Evaluate
• Strengthen
the Rural
Markets
• Diverse
products
Portfolio
• Optimal
Utilization of
Human
Resources
Environmental
Scanning
Future
Objective &
Strategies
Intensity of
Competition
Conceptual
Framework
Indian Animal
Healthcare
12
K.S.Niranjan
Conceptual
Framework
Indian
AHC
1
2
3
4
6
5
Market Structure
• Highly Fragmented, Untapped
• Largest Animals Population
heads
1
Environmental Scanning
• Political factors: Moderate
• Economy: Poor, Traditional
Medicine, Superstitious
2
Long Term Trend
• Therapeutics, Feed Supplement
• Pets & Aqua Segment
3
Competition Intensity
• Price: Competitive, Copy Cat
Brands, Moderate competition
• Regional Players,
4
Majors Growth Drivers
• Emerging New Diseases
• MNC,Field force Expansion
5
Future Objectives & Strategy
• Strengthen Rural Market
• Diverse Products Portfolio
• Optimal Utilization of HR
6
13
K.S.Niranjan
Indian
Animal
Healthcare
Market
14K.S.Niranjan
Cattle
210
Buffalo
113
Poultry
968
Goat
157
Sheep
75
Pigs
9.5
Pets
14
Aqua-80,000
Hectares
Source: FAOSTAT
Indian Livestock population: 2011(in Million Heads
15K.S.Niranjan
Sheep-75 Million Heads
Goat-139 Million Heads
Pigs -26 Million Heads
Pets-14 Million Heads
India Biological Market:2011
Source: Complied from
CLFMA, Govt. of India, American
Soya bean Association
Total Cattle: 592 Million Heads
16
K.S.Niranjan
9%
5%
35%
10%
12%
8%
7%
0%
5%
10%
15%
20%
25%
30%
35%
40%
0
5000
10000
15000
20000
25000
2005 2006 2007 2008 2009 2010 2011
Rs.Million
Years
Indian Animal Healthcare Market Growth 2005-2011
%Growth
17
K.S.Niranjan
GrowthSales(Rs.Mn)
Years 18
K.S.Niranjan
Pharmaceuticals
46%
Medicinal feed
Additive
26%
Biological /Bio-
Security
28%
Indian Animal Health Market By Products- 2011
0
2000
4000
6000
8000
10000
12000
10050 5800 6150
Market(Rs.Mn)
19
K.S.Niranjan
Indian Animal Healthcare Market by Segment :2011
Cattle
51%
Poultry
36%
Companion
Animal
6%
Aqua
4%
Sheep & Goat
3%
0
2000
4000
6000
8000
10000
12000
11220
7920
1320 880 660
Cattle Poultry Companion Animal Aqua Sheep & Goat
Market Share in (mn.INR)
20K.S.Niranjan
0
2000
4000
6000
8000
10000
12000
2007 2008 2009 2010 2011
SalesinMillionINR
Indian Animal Health Market Trend: 2007 to 2011
Cattle Poultry Companion Animal Aqua Sheep & Goat 21K.S.Niranjan
Shift towards increase milk production
Focus on cross breeds & high yielding animals
Professionalization of poultry industry, treating
to prevention
Advance feed production Pelleted to Global std.
Changing structure of farming more towards
integration
Willingness of pet owner to spend more on their
health
Development of growing Aqua (fisheries) segment
Emerging Trend: India
AHC
22
K.S.Niranjan
Pfizer Animal Health
Virbac Animal Health(I) Pvt. Ltd.
Venky,s India Ltd
Provimi Animal Nutrition (I) Pvt.Ltd
Zydus Animal Health
MSD Animal Health I Pvt. Ltd
Intas Pharmaceuticals Ltd
Alembic Veterinary
Novartis Animal Health
Vetoquinol Animal Health
Top 10 Major Players in Indian Animal Healthcare Industry 2011 (Not Ranked)
23
K.S.Niranjan
GLOBAL
Species-wise
Pharmaceuticals
62%
Biological
26%
Feed Additive
12%
Products
INDIA
Cattle 52%
Poultry 37%
Pets 6%
Others 5%
Species-wise
Pharmaceuticals
46%
Biological/
Bio-security
28%
Feed Additive
26%
Products
Cattle 30%
Pets 39%
Poultry 11%
Swine 18%
Aquaculture 2%
Glocal Animal Health Market:2011
24
K.S.Niranjan
0
5000
10000
15000
20000
25000
30000
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015
Sales ( Rs.million)
India Animal Health Market Estimated Sales: 2006-2015
25
K.S.Niranjan
Livestock industry contributes 6% to GDP next to
agriculture
2nd largest contributor to GDP – the future food
factory of the world
India is world largest milk produced 122 million
ton.
Poultry 3rd largest egg and meat producers in the
world
Ranks 4th in Sheep & 6th in Fish production in the
world
Has 58% of World buffalo heads.
Per capita consumption levels
Milk: 265 gm
Tgt: 400 gm
Meat: 2.6 kg
Tgt: 3.5 kg
What's Makes India
Attractive
pet owners to spend more on the health of the
animals
26
K.S.Niranjan
Concern (Main Barrier) of Indian Animal HealthCare Industry
Lack of Official Market Data
Lack of linkage between industries and academician for
marketing research and advance drugs discovery
Lack of Growth : Value Vs Volume
Unethical Marketing Practices
Low Export Opportunity
Direct Selling by Sales Staff/ Handling Cash
High Attrition Rate of the Sales personnel's
Very High Territory Development Cost
Varying Customers Perception
No New Products (Copy Cat Branding)
Classification of Feed Supplements
(No Stringent Law)
Unclear Value of Rx from Veterinarian/Para/Customers
High WC: Cattle: 21 - 120 days, Poultry : >120 days
Parallel Manufacturing & Marketing by 3rd party
Formulators
27
K.S.Niranjan
PEST Analysis: India Animal Healthcare Industry
Socio-cultural Factors
Poverty and associated inadequate nutrition
exacerbate the incidence of many disease.
India farmers prefer using household treatments
handed down for generations for common
ailments.
The use of magic/tantrics/ozhas/hakims is
prevalent in India.
Ignorance of inoculation and vaccination has
prevented the eradication of diseases like
FMD,HSBQ,Anthrax,RD,IBD and others.
Superstitious beliefs and any sort of ailment is
Political Factors
Industry threatening to impose even more
stringent price control.
DPCO nullifies the market forces from
encouraging competitive pricing of goods
dictated by the market.
2005 the country goes in for the IPR (Intellectual
Property Rights)regime, popularly known as the
Patent Act.
Excise Duty on the cost of manufacturing to the
MRP thereby making the finished products more
costly.
Subsides in specific area, others place are not
suitable for Mfg.
Technological Factors
Advanced automated machines have
increased the output and reduced the cost.
Computerization has increased the efficiency
of the animal Pharmaceuticals Industry.
Ayurveda is a well recognized science and it is
providing the industry with a cutting edge.
Advances in Bio-technology, Biological
research have given India a step forward
Economic Factors
Customers spend a very small proportion of
its income on animal health, until severely
sick.
Per capita income of farmers is very low.
The incidence of Taxes are very high. There is
Excise Duty (State & Central), Custom
Duty, Service Tax, Profession Tax, License
Fees, Royalty, Pollution Clearance
Tax, Hazardous substance (Storage &
Handling licenses) income tax.
High interest rate regime cost of funds is
double
Adequate storage and transportation facilities
for animal health drugs is lacking.
Poor infrastructure like roads & rail network
28
K.S.Niranjan
Porter’s Five Forces Model(AHC)
29
K.S.Niranjan
Porter’s Five Force Analysis: India Veterinary
Pharmaceuticals
– Bottlers
INDUSTRY
COMPETITORS
Rivalry among
existing firms
BUYERS – High, Moderate
• In oral nutritional supplement the buyer
power is very high, implying strong
downward pressure on prices
•The treatment products such as
antibiotics which is prescribed by
veterinarian leads to compulsion for buyer.
•Switching cost is somewhat low
•Rivalry between one company to another
is heavily severe.
•processes are similar as human
pharma, creating similar high costs to
develop and release new drugs.
ENTRANTS -Moderate
•Primary threat for entrance from generic
drug.
• Making products available to all the
retailers is hard and time taken.
•Animal drug competition is less
susceptible to generic influence except
some oral supplement as well as nutritional
products.
• Large economies of scale that create high
barriers to entry. Small scale start-ups
require a large amount of capital and face
many risks,
SUBSTITUTES - High
•Retailers can be easily replaced by other
products.
• Generic manufacturer and local company
create substitute for pioneer drugs, these
represent a copy cat strategy in feed
supplement and anthelmintics.
• High margin and high promotional
discount is also another reason for
substitutes.
• In pets products and biological products
there is less substitute as compare to large
animal products.
SUPPLIERS - Moderate
• Feed Supplement- Low
• Therapeutic- Moderate
•Biological & Hormonal preparation- High.
•The animal health industry is a primary
manufacturer and has few and diversified
suppliers.
• Some chemical and other ingredients
used by pharmaceuticals company has
very high quality standard ,this can lead to
a form of market power so there are
relatively few supplier of a products who
can provide those quality assurance
Bargaining
power of
suppliers
Threat of
new entrants
Bargaining
power of
buyers
Threat of
substitutes
30K.S.Niranjan
Porters Five Forces Model:- Indian Animal Healthcare Industry
Buyer Power: High, Moderate
Buyers: Stockist,Retailers, Veterinarian, Dairy & Poultry
Farmers
Medicinal feed supplement the buyer power is very high.
•In Therapeutics, customers have very little bargaining
power. Most of the medication is prescribed by the Vet.
practitioners. Customers will have to buy the drug at
any given price if they need it.
More educated customers may buy a generic alternative
(which have the same impact but less expensive) if
available in the market.
Switching cost is somewhat low and customer can
easily switch from one products to another cost
effective products, with the influence of the retailers.
Retailers buyer power is very high, because of the
regional company and some new entrants who offer
high promotional discount and credit facility to make
availability of the products.
Governments in most of the state are generally the
important customers, and therefore, enjoy substantial
pricing leverage.
Pricing pressure – The India remains one of the few
developing markets where drug manufacturers have
significant pricing flexibility, and this is in jeopardy due
to increasing pressures from consumers and legislators
to control health care costs.
Bargaining Power of
31K.S.Niranjan
Supplier Power: Moderate
Suppliers: Chemicals, Raw materials, Bulk Drugs
Medicinal Feed Supplement-Low
Therapeutics- Moderate
Biological & Hormonal-High
There are few supplier because of less number of
companies in the market.
The Switching cost is high then company cant easily
switch from one to another's
The product is not standardized so that they don’t
have many choices.
Animal healthcare industry is a primary manufacturer
and have few & diversified suppliers.
Some chemical and other ingredients used by
pharmaceuticals company has very high quality
standard ,this can lead to a form of market power so
there are relatively few supplier of a products who can
provide those quality assurance.
Suppliers generally have little room for negotiation.
Large AH pharmaceutical companies generally enjoy
significant buying power.
Bargaining Power of
32
K.S.Niranjan
Substitutes Power: High
The switching cost is low.
Customers can find substitute medicine if
the original product is more expensive.
However, if it is a new product the
consumer generally will have no choice for
an alternative.
Retailers can be easily replaced by
other high margin products.
Generic manufacturer and regional players
create substitute for pioneer drugs, these
represent a copy cat strategy in feed
supplement and anthelmintics.
High margin and high promotional discount is
also another reason for substitutes. In Pets
products and Biological products there is less
substitute as compare to large animal products
Threats of
33
K.S.Niranjan
Threats of New Entrants: Moderate
Primary threat of entrance from regional
company as well as generic.
Very low barrier to entry
Govt. Policy supportive(100% FDI)
Making products available at all the retail
outlets is expensive and time taken.
Animal drug competition is less susceptible to
generic influence except some oral supplement
as well as nutritional products.
Large economies of scale that create high
barriers to entry. Small scale start-ups
require a large amount of capital and face
many risks
Heavy invest capital required
Threat of
34
K.S.Niranjan
Highly competitive top 10 players have
mere 80% market share
The exist barriers are very high
Industry growth is slow and time taken.
Lower fixed cost and high working
capital
Rivalry between one company to
another is heavily severe.
Processes are similar as human
pharmaceuticals, creating similar high
costs to develop and release new
drugs.
Huge competition based on the price of
the product among the various
companies
Competitor Rivalry: High
35K.S.Niranjan
Competitors
SWOT Analysis: Indian Animal Healthcare
Industry:
Strength
Animal healthcare drugs are similar to human
pharmaceuticals drugs and no specialized
machinery is required for manufacturing them.
Sizeable population of high yielding cows and
buffalo; large domestic market for milk and milk
products.
Animal-health research and development is much
faster, less expensive and more predictable than
human pharmaceuticals.
India’s large number of
9527 Veterinary Hospitals/Polyclinic
20897 Veterinary Dispensaries,
24482 Veterinary Aid Centre/Mobile dispensaries,
335 Disease Diagnostic Labs
28 Veterinary Vaccines Production Units.
36K.S.Niranjan
India with a largest animal population heads is a
largely untapped market.
The penetration of animal health products is less
than 15% in India.
Indian manufacturer are one of the lowest cost
producers of drugs in the world, drug
manufacturing in India is up to 50 percent
cheaper than in western industrial countries, and
well developed industry with strong
manufacturing base.
Animal healthcare companies promotional
strategy is based on direct contacts with
customer like dairy farmers, poultry farmers and
indirect selling through veterinarians, livestock
supervisor etc.
Animal drug competition is less susceptible to
generic influence except some oral supplement
as well as nutritional products. 37
K.S.Niranjan
There is no any stringent law for nutritional products so
that most of the mall practices are using by the regional
and local player.
Distribution channel are highly fragmented, difficult to
make availability of products and increasing
distribution costs for animal health products.
Industry is highly dependence on import from China
due to unmatched costs of power and high capacity
build up leading to low cost of production.
Inadequate Infrastructure like power, roads and cold
chains lack of advance labs and related infrastructure
for drug testing and appropriate treatment method.
There is a conspicuous lack of strong linkage between
industries and academician for marketing research and
advance drugs discovery.
Low capability and motivation for cutting edge
research, diagnosis labs, drug sensitivity and platform
Weakness
38
K.S.Niranjan
Fragmented nature of cattle population mostly non-
descript animals in rural India, it’s more expensive to
penetrate the market by the sales force and time
taken, which increase the sales and distribution costs to
the animal health companies.
Price Regulation-Reduce the pricing ability of
companies, leads to lower profitability for the companies.
Lack of products patent-prevent global pharmaceuticals
companies to introduce new drugs in the country, but this
has provided on upper hand to the Indian
pharmaceuticals companies.
Very low barrier to entry , animal healthcare pharma is
highly fragmented, leads to increasing competition and
price competitive.
Negligible expenditure on animal healthcare research &
development.
Lack of appropriate marketing research before
39
K.S.Niranjan
Key opportunities for growth are the willingness of
pet owners to spend more on the health of their
animals and the ability of veterinarians to meet that
need.
Very lucrative high profit making market with the
high chances of growth, increase awareness among
people about nutrition, vaccination, bio-
security, animal health and productivity.
Future trends include product development for
growing segments like parasitic ides and biological
products for companion animals, increased
shopping at retail outlets and through internet and
over-the-counter (OTC) products posing stiff
competition to prescription.
The professionalization of poultry
industry, changing focus of farmers from treating to
preventing disease are other factors will drive
Opportunities
40
K.S.Niranjan
Emergence of new diseases, changes in animal
production practices, high yielding cattle’s and
new product introductions and ongoing food
safety concerns.
The companion animal and Aqua (fisheries)
segment would be tomorrow market, while
poultry will remain at the centre of animal health
industry, as the functional food market is likely
to grow in India.
Frequent outbreaks of animal diseases such as
avian influenza, anthrax, and other viral and
bacterial infections, animal healthcare
companies has gained tremendous significance
across the Indian Territory.
There is a large unorganized sector, estimated
at Rs 40,000 million, comprising regional
players and local importers of animal health
products from others Asian countries.
Opportunities
41K.S.Niranjan
Increasing the feed cost of poultry as well as
cattle, and inflationary pressure continue to be
areas of concern.
Inadequate infrastructure and cold storage
facilities, impact prospects for export and cause
price fluctuation in the poultry segment.
Marketing in the village include some unplanned
taxi tour and non availability of public/ private
transport as well as travelling by two-wheeler is
highly expensive to the companies.
Poorly educated rural population, lack of adequate
qualified veterinarian, lack of awareness of ailments
or symptoms, cultural gaps in urban marketers and
rural dairy farmers, scant availability of marketing
research.
Increase competition to country like India from
emerging manufacturer in China and east Europe
Threats
42K.S.Niranjan
and not increasing the milk, eggs and meat in the same
manner as compare to feeds and drugs.
High cost of sales and marketing, competition
particularly from regional players in the feed
supplement products.
Unregulated competition from generics as well as
local and regional veterinary pharmaceuticals
companies.
Diversion from dairy farming, poultry farming to
agri-business nearby tier-2 & tier-3 cities due to
increase the land prices.
Drug Price Control Order puts unrealistic ceiling on
product prices and profitability and prevent
veterinary pharmaceuticals companies from
generating investible surplus.
The uncertainty in the pricing policy ( Governed by
the national pharmaceuticals pricing committee % 43
K.S.Niranjan
Integration
Merger &
Acquisition
New
Product
Line
Increase
Pet owner
Awareness
Consistent Animal
healthcare Market
Size
Market
Size
2007 2011+
44
K.S.Niranjan
Current Situation
Demanding customers
Unethical Marketing
Practices
Proliferation of Generics
Price War
Customer Knowledge >
Sales Force
Target
Branding & Marketing
Excellence
Strong Brand & Product
Range
 Efficiency in Procurement to
Compete Generics
 Vaccines, Bio-security & New
Drug Delivery System
Current Situation Holding From Reaching
the Target
45
K.S.Niranjan
(Medicinal Feed
Supplement, Antibiotics &
Antiparaciticides)
(Bio-security/
Preventive products
(Biological,
Hormonal Products)
(Rumen-tonics/DPCO Products/
Others)
Low
HighLow
High
Invest
Select a Few Remainder
Divested
Liquidate
Market
Growth
Market
Share
BCG Matrix: Indian Animal Healthcare Industry
Star
Dog
46
K.S.Niranjan
THANK YOU
47
K.S.Niranjan
48
K.S.Niranjan

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SWOT Analysis Indian Veterinary Pharmaceuticals Industry

  • 1. Title:-Animal Health Care Industry in India: An analysis of Strength, Weakness, Opportunity and Threats K.S.Niranjan (Senior Researcher & Consultant at Public & Private Value Added Marketing
  • 3. 0 5000 10000 15000 20000 25000 Global Animal Healthcare Market :2005-2011 2005 2006 2007 2008 2009 2010 2011 Year USDMillion 3 K.S.Niranjan
  • 4. North America 33% Latin America 14% Europe 32% Asia-Rest of World 21% Total Market: 22 Billion USD Geographical Segmentation: Global Animal Health Market-2011 4 K.S.Niranjan
  • 5. 62% Pharmaceutical 26% Biologicals 12% Medicinal Feed Additive Global Animal Healthcare Market by Product:2011 •Anti-infective •Paraciticides •Others 5 K.S.Niranjan
  • 7. Companion Animal 39% Ruminants. 30% Swine. 18% Poultry 11% Aquaculture 2% 13% Global Animal Health Market -(22Bn) Global Animal Healthcare Market by Species:2011 7 K.S.Niranjan
  • 8. 0 1000 2000 3000 4000 5000 6000 7000 8000 9000 10000 2007 2008 2009 2010 2011 Global AH Market trend: 2007 to 2011 Companion Animals Cattle Pigs Poultry Sheep Aqua Sales in Mn.USD Source: Vetnosis 8K.S.Niranjan
  • 9. Company Revenue-2011( $ Mn.) % share Growth % Over 2010 Pfizer Animal Health Ltd. 4170 18.9 8.7% Merck 3195 14.5 10.6% Sanofi Aventis (Merial) 2783 12.7 7.4% Elanco 1729 7.9 13.1% Bayer Healthcare 1500 6.8 7.4% Boehringer Ingelheim 1319 6.0 11.8% Novartis 1187 5.4 7.0% Virbac 811 3.7 12.5% Ceva 740 3.4 12.3% Vetoquinol 398 1.8 4.3% All others 4260 19.4 11.3% Total 22092 100.0 9.7% Market Share of Major Players of Global Animal Healthcare Industry -2011 9K.S.Niranjan
  • 10. Pfizer 18.9% Merck 14.5% Merial 12.6% Elanco 7.8% Bayer 6.8% Boehringer 6% Novartis 5.4% Virbac 3.7% Ceva 3.3% Vetoquinol 1.8% All others 19.3% MarketShare GlobalAnimal HealthcareCompany 10 K.S.Niranjan
  • 11. Mega Trends $ 22 billion Market in 2011 7% CAGR ( 2005-2011) Growing global affluence drives protein consumption. Continuing growth in largest segment companion animals.  The general trend in animal health is towards quality, safer and more efficacious products. Growth Drivers Focus R&D investment on innovation and state of the-art &science.  Capitalize on rapid growth of companion animals segment and geographical expansion in developing nations. Transformation from many disease control and prevention through bio-security and usage of biological products. Global Animal Healthcare Market: Snapshots 11K.S.Niranjan
  • 12.  AHC Industry Highly Fragmented  Largest Animal population Heads.  Large Untapped Potential  Political factors Moderately favourable  Economic condition poor  Used traditional medicine  Superstitiou s belief  Companion animals & aqua segment set to grow  Trend of therapeutics and Medicinal feed Supplement  Price Competitive  Copy cat Brands  Regional Players in Many Products  Moderate competition  Emergence of new Diseases  Entrance of MNC  Expansion of Field Force  Awareness Campaign Market Structure Long Term Trend Majors Growth Drivers Evaluate • Strengthen the Rural Markets • Diverse products Portfolio • Optimal Utilization of Human Resources Environmental Scanning Future Objective & Strategies Intensity of Competition Conceptual Framework Indian Animal Healthcare 12 K.S.Niranjan
  • 13. Conceptual Framework Indian AHC 1 2 3 4 6 5 Market Structure • Highly Fragmented, Untapped • Largest Animals Population heads 1 Environmental Scanning • Political factors: Moderate • Economy: Poor, Traditional Medicine, Superstitious 2 Long Term Trend • Therapeutics, Feed Supplement • Pets & Aqua Segment 3 Competition Intensity • Price: Competitive, Copy Cat Brands, Moderate competition • Regional Players, 4 Majors Growth Drivers • Emerging New Diseases • MNC,Field force Expansion 5 Future Objectives & Strategy • Strengthen Rural Market • Diverse Products Portfolio • Optimal Utilization of HR 6 13 K.S.Niranjan
  • 16. Sheep-75 Million Heads Goat-139 Million Heads Pigs -26 Million Heads Pets-14 Million Heads India Biological Market:2011 Source: Complied from CLFMA, Govt. of India, American Soya bean Association Total Cattle: 592 Million Heads 16 K.S.Niranjan
  • 17. 9% 5% 35% 10% 12% 8% 7% 0% 5% 10% 15% 20% 25% 30% 35% 40% 0 5000 10000 15000 20000 25000 2005 2006 2007 2008 2009 2010 2011 Rs.Million Years Indian Animal Healthcare Market Growth 2005-2011 %Growth 17 K.S.Niranjan
  • 19. Pharmaceuticals 46% Medicinal feed Additive 26% Biological /Bio- Security 28% Indian Animal Health Market By Products- 2011 0 2000 4000 6000 8000 10000 12000 10050 5800 6150 Market(Rs.Mn) 19 K.S.Niranjan
  • 20. Indian Animal Healthcare Market by Segment :2011 Cattle 51% Poultry 36% Companion Animal 6% Aqua 4% Sheep & Goat 3% 0 2000 4000 6000 8000 10000 12000 11220 7920 1320 880 660 Cattle Poultry Companion Animal Aqua Sheep & Goat Market Share in (mn.INR) 20K.S.Niranjan
  • 21. 0 2000 4000 6000 8000 10000 12000 2007 2008 2009 2010 2011 SalesinMillionINR Indian Animal Health Market Trend: 2007 to 2011 Cattle Poultry Companion Animal Aqua Sheep & Goat 21K.S.Niranjan
  • 22. Shift towards increase milk production Focus on cross breeds & high yielding animals Professionalization of poultry industry, treating to prevention Advance feed production Pelleted to Global std. Changing structure of farming more towards integration Willingness of pet owner to spend more on their health Development of growing Aqua (fisheries) segment Emerging Trend: India AHC 22 K.S.Niranjan
  • 23. Pfizer Animal Health Virbac Animal Health(I) Pvt. Ltd. Venky,s India Ltd Provimi Animal Nutrition (I) Pvt.Ltd Zydus Animal Health MSD Animal Health I Pvt. Ltd Intas Pharmaceuticals Ltd Alembic Veterinary Novartis Animal Health Vetoquinol Animal Health Top 10 Major Players in Indian Animal Healthcare Industry 2011 (Not Ranked) 23 K.S.Niranjan
  • 24. GLOBAL Species-wise Pharmaceuticals 62% Biological 26% Feed Additive 12% Products INDIA Cattle 52% Poultry 37% Pets 6% Others 5% Species-wise Pharmaceuticals 46% Biological/ Bio-security 28% Feed Additive 26% Products Cattle 30% Pets 39% Poultry 11% Swine 18% Aquaculture 2% Glocal Animal Health Market:2011 24 K.S.Niranjan
  • 25. 0 5000 10000 15000 20000 25000 30000 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 Sales ( Rs.million) India Animal Health Market Estimated Sales: 2006-2015 25 K.S.Niranjan
  • 26. Livestock industry contributes 6% to GDP next to agriculture 2nd largest contributor to GDP – the future food factory of the world India is world largest milk produced 122 million ton. Poultry 3rd largest egg and meat producers in the world Ranks 4th in Sheep & 6th in Fish production in the world Has 58% of World buffalo heads. Per capita consumption levels Milk: 265 gm Tgt: 400 gm Meat: 2.6 kg Tgt: 3.5 kg What's Makes India Attractive pet owners to spend more on the health of the animals 26 K.S.Niranjan
  • 27. Concern (Main Barrier) of Indian Animal HealthCare Industry Lack of Official Market Data Lack of linkage between industries and academician for marketing research and advance drugs discovery Lack of Growth : Value Vs Volume Unethical Marketing Practices Low Export Opportunity Direct Selling by Sales Staff/ Handling Cash High Attrition Rate of the Sales personnel's Very High Territory Development Cost Varying Customers Perception No New Products (Copy Cat Branding) Classification of Feed Supplements (No Stringent Law) Unclear Value of Rx from Veterinarian/Para/Customers High WC: Cattle: 21 - 120 days, Poultry : >120 days Parallel Manufacturing & Marketing by 3rd party Formulators 27 K.S.Niranjan
  • 28. PEST Analysis: India Animal Healthcare Industry Socio-cultural Factors Poverty and associated inadequate nutrition exacerbate the incidence of many disease. India farmers prefer using household treatments handed down for generations for common ailments. The use of magic/tantrics/ozhas/hakims is prevalent in India. Ignorance of inoculation and vaccination has prevented the eradication of diseases like FMD,HSBQ,Anthrax,RD,IBD and others. Superstitious beliefs and any sort of ailment is Political Factors Industry threatening to impose even more stringent price control. DPCO nullifies the market forces from encouraging competitive pricing of goods dictated by the market. 2005 the country goes in for the IPR (Intellectual Property Rights)regime, popularly known as the Patent Act. Excise Duty on the cost of manufacturing to the MRP thereby making the finished products more costly. Subsides in specific area, others place are not suitable for Mfg. Technological Factors Advanced automated machines have increased the output and reduced the cost. Computerization has increased the efficiency of the animal Pharmaceuticals Industry. Ayurveda is a well recognized science and it is providing the industry with a cutting edge. Advances in Bio-technology, Biological research have given India a step forward Economic Factors Customers spend a very small proportion of its income on animal health, until severely sick. Per capita income of farmers is very low. The incidence of Taxes are very high. There is Excise Duty (State & Central), Custom Duty, Service Tax, Profession Tax, License Fees, Royalty, Pollution Clearance Tax, Hazardous substance (Storage & Handling licenses) income tax. High interest rate regime cost of funds is double Adequate storage and transportation facilities for animal health drugs is lacking. Poor infrastructure like roads & rail network 28 K.S.Niranjan
  • 29. Porter’s Five Forces Model(AHC) 29 K.S.Niranjan
  • 30. Porter’s Five Force Analysis: India Veterinary Pharmaceuticals – Bottlers INDUSTRY COMPETITORS Rivalry among existing firms BUYERS – High, Moderate • In oral nutritional supplement the buyer power is very high, implying strong downward pressure on prices •The treatment products such as antibiotics which is prescribed by veterinarian leads to compulsion for buyer. •Switching cost is somewhat low •Rivalry between one company to another is heavily severe. •processes are similar as human pharma, creating similar high costs to develop and release new drugs. ENTRANTS -Moderate •Primary threat for entrance from generic drug. • Making products available to all the retailers is hard and time taken. •Animal drug competition is less susceptible to generic influence except some oral supplement as well as nutritional products. • Large economies of scale that create high barriers to entry. Small scale start-ups require a large amount of capital and face many risks, SUBSTITUTES - High •Retailers can be easily replaced by other products. • Generic manufacturer and local company create substitute for pioneer drugs, these represent a copy cat strategy in feed supplement and anthelmintics. • High margin and high promotional discount is also another reason for substitutes. • In pets products and biological products there is less substitute as compare to large animal products. SUPPLIERS - Moderate • Feed Supplement- Low • Therapeutic- Moderate •Biological & Hormonal preparation- High. •The animal health industry is a primary manufacturer and has few and diversified suppliers. • Some chemical and other ingredients used by pharmaceuticals company has very high quality standard ,this can lead to a form of market power so there are relatively few supplier of a products who can provide those quality assurance Bargaining power of suppliers Threat of new entrants Bargaining power of buyers Threat of substitutes 30K.S.Niranjan
  • 31. Porters Five Forces Model:- Indian Animal Healthcare Industry Buyer Power: High, Moderate Buyers: Stockist,Retailers, Veterinarian, Dairy & Poultry Farmers Medicinal feed supplement the buyer power is very high. •In Therapeutics, customers have very little bargaining power. Most of the medication is prescribed by the Vet. practitioners. Customers will have to buy the drug at any given price if they need it. More educated customers may buy a generic alternative (which have the same impact but less expensive) if available in the market. Switching cost is somewhat low and customer can easily switch from one products to another cost effective products, with the influence of the retailers. Retailers buyer power is very high, because of the regional company and some new entrants who offer high promotional discount and credit facility to make availability of the products. Governments in most of the state are generally the important customers, and therefore, enjoy substantial pricing leverage. Pricing pressure – The India remains one of the few developing markets where drug manufacturers have significant pricing flexibility, and this is in jeopardy due to increasing pressures from consumers and legislators to control health care costs. Bargaining Power of 31K.S.Niranjan
  • 32. Supplier Power: Moderate Suppliers: Chemicals, Raw materials, Bulk Drugs Medicinal Feed Supplement-Low Therapeutics- Moderate Biological & Hormonal-High There are few supplier because of less number of companies in the market. The Switching cost is high then company cant easily switch from one to another's The product is not standardized so that they don’t have many choices. Animal healthcare industry is a primary manufacturer and have few & diversified suppliers. Some chemical and other ingredients used by pharmaceuticals company has very high quality standard ,this can lead to a form of market power so there are relatively few supplier of a products who can provide those quality assurance. Suppliers generally have little room for negotiation. Large AH pharmaceutical companies generally enjoy significant buying power. Bargaining Power of 32 K.S.Niranjan
  • 33. Substitutes Power: High The switching cost is low. Customers can find substitute medicine if the original product is more expensive. However, if it is a new product the consumer generally will have no choice for an alternative. Retailers can be easily replaced by other high margin products. Generic manufacturer and regional players create substitute for pioneer drugs, these represent a copy cat strategy in feed supplement and anthelmintics. High margin and high promotional discount is also another reason for substitutes. In Pets products and Biological products there is less substitute as compare to large animal products Threats of 33 K.S.Niranjan
  • 34. Threats of New Entrants: Moderate Primary threat of entrance from regional company as well as generic. Very low barrier to entry Govt. Policy supportive(100% FDI) Making products available at all the retail outlets is expensive and time taken. Animal drug competition is less susceptible to generic influence except some oral supplement as well as nutritional products. Large economies of scale that create high barriers to entry. Small scale start-ups require a large amount of capital and face many risks Heavy invest capital required Threat of 34 K.S.Niranjan
  • 35. Highly competitive top 10 players have mere 80% market share The exist barriers are very high Industry growth is slow and time taken. Lower fixed cost and high working capital Rivalry between one company to another is heavily severe. Processes are similar as human pharmaceuticals, creating similar high costs to develop and release new drugs. Huge competition based on the price of the product among the various companies Competitor Rivalry: High 35K.S.Niranjan Competitors
  • 36. SWOT Analysis: Indian Animal Healthcare Industry: Strength Animal healthcare drugs are similar to human pharmaceuticals drugs and no specialized machinery is required for manufacturing them. Sizeable population of high yielding cows and buffalo; large domestic market for milk and milk products. Animal-health research and development is much faster, less expensive and more predictable than human pharmaceuticals. India’s large number of 9527 Veterinary Hospitals/Polyclinic 20897 Veterinary Dispensaries, 24482 Veterinary Aid Centre/Mobile dispensaries, 335 Disease Diagnostic Labs 28 Veterinary Vaccines Production Units. 36K.S.Niranjan
  • 37. India with a largest animal population heads is a largely untapped market. The penetration of animal health products is less than 15% in India. Indian manufacturer are one of the lowest cost producers of drugs in the world, drug manufacturing in India is up to 50 percent cheaper than in western industrial countries, and well developed industry with strong manufacturing base. Animal healthcare companies promotional strategy is based on direct contacts with customer like dairy farmers, poultry farmers and indirect selling through veterinarians, livestock supervisor etc. Animal drug competition is less susceptible to generic influence except some oral supplement as well as nutritional products. 37 K.S.Niranjan
  • 38. There is no any stringent law for nutritional products so that most of the mall practices are using by the regional and local player. Distribution channel are highly fragmented, difficult to make availability of products and increasing distribution costs for animal health products. Industry is highly dependence on import from China due to unmatched costs of power and high capacity build up leading to low cost of production. Inadequate Infrastructure like power, roads and cold chains lack of advance labs and related infrastructure for drug testing and appropriate treatment method. There is a conspicuous lack of strong linkage between industries and academician for marketing research and advance drugs discovery. Low capability and motivation for cutting edge research, diagnosis labs, drug sensitivity and platform Weakness 38 K.S.Niranjan
  • 39. Fragmented nature of cattle population mostly non- descript animals in rural India, it’s more expensive to penetrate the market by the sales force and time taken, which increase the sales and distribution costs to the animal health companies. Price Regulation-Reduce the pricing ability of companies, leads to lower profitability for the companies. Lack of products patent-prevent global pharmaceuticals companies to introduce new drugs in the country, but this has provided on upper hand to the Indian pharmaceuticals companies. Very low barrier to entry , animal healthcare pharma is highly fragmented, leads to increasing competition and price competitive. Negligible expenditure on animal healthcare research & development. Lack of appropriate marketing research before 39 K.S.Niranjan
  • 40. Key opportunities for growth are the willingness of pet owners to spend more on the health of their animals and the ability of veterinarians to meet that need. Very lucrative high profit making market with the high chances of growth, increase awareness among people about nutrition, vaccination, bio- security, animal health and productivity. Future trends include product development for growing segments like parasitic ides and biological products for companion animals, increased shopping at retail outlets and through internet and over-the-counter (OTC) products posing stiff competition to prescription. The professionalization of poultry industry, changing focus of farmers from treating to preventing disease are other factors will drive Opportunities 40 K.S.Niranjan
  • 41. Emergence of new diseases, changes in animal production practices, high yielding cattle’s and new product introductions and ongoing food safety concerns. The companion animal and Aqua (fisheries) segment would be tomorrow market, while poultry will remain at the centre of animal health industry, as the functional food market is likely to grow in India. Frequent outbreaks of animal diseases such as avian influenza, anthrax, and other viral and bacterial infections, animal healthcare companies has gained tremendous significance across the Indian Territory. There is a large unorganized sector, estimated at Rs 40,000 million, comprising regional players and local importers of animal health products from others Asian countries. Opportunities 41K.S.Niranjan
  • 42. Increasing the feed cost of poultry as well as cattle, and inflationary pressure continue to be areas of concern. Inadequate infrastructure and cold storage facilities, impact prospects for export and cause price fluctuation in the poultry segment. Marketing in the village include some unplanned taxi tour and non availability of public/ private transport as well as travelling by two-wheeler is highly expensive to the companies. Poorly educated rural population, lack of adequate qualified veterinarian, lack of awareness of ailments or symptoms, cultural gaps in urban marketers and rural dairy farmers, scant availability of marketing research. Increase competition to country like India from emerging manufacturer in China and east Europe Threats 42K.S.Niranjan
  • 43. and not increasing the milk, eggs and meat in the same manner as compare to feeds and drugs. High cost of sales and marketing, competition particularly from regional players in the feed supplement products. Unregulated competition from generics as well as local and regional veterinary pharmaceuticals companies. Diversion from dairy farming, poultry farming to agri-business nearby tier-2 & tier-3 cities due to increase the land prices. Drug Price Control Order puts unrealistic ceiling on product prices and profitability and prevent veterinary pharmaceuticals companies from generating investible surplus. The uncertainty in the pricing policy ( Governed by the national pharmaceuticals pricing committee % 43 K.S.Niranjan
  • 44. Integration Merger & Acquisition New Product Line Increase Pet owner Awareness Consistent Animal healthcare Market Size Market Size 2007 2011+ 44 K.S.Niranjan
  • 45. Current Situation Demanding customers Unethical Marketing Practices Proliferation of Generics Price War Customer Knowledge > Sales Force Target Branding & Marketing Excellence Strong Brand & Product Range  Efficiency in Procurement to Compete Generics  Vaccines, Bio-security & New Drug Delivery System Current Situation Holding From Reaching the Target 45 K.S.Niranjan
  • 46. (Medicinal Feed Supplement, Antibiotics & Antiparaciticides) (Bio-security/ Preventive products (Biological, Hormonal Products) (Rumen-tonics/DPCO Products/ Others) Low HighLow High Invest Select a Few Remainder Divested Liquidate Market Growth Market Share BCG Matrix: Indian Animal Healthcare Industry Star Dog 46 K.S.Niranjan