Animal Health: Top 5 Trends in 2015
As we enter into New Year and pat ourselves for a reasonably successful 2014, we at animalhealthindia.com have sifted through a number of clues to piece together a few trends which we believe could play out in New Year 2015.
Animal Health organizations may ill afford to ignore some of these trends as few of these trends have potential to alter the way we do business in Animal Health industry.
It’s not appropriate for us to make any recommendations on the adoption and increased allocation of investments in any of these potential trends, since this is best left to the pros in the industry, but companies may do well to consider these trends in their strategic business plans.
The Top 5 Trends for 2015 that may pan out are:
Like all other industries, Animal Health is also witnessing an increased importance and adoption of innovative technologies and computing devices.
As mobile devices and tablets continue to proliferate and mobiles become the “first screen”, many an applications are moving to mobile devices for quick decision making.
From a plethora of apps for dairy and poultry farmers to “wearables” for companion animals and dairy cows connected to mobiles, technology is increasingly at the disposal of our customers in bringing high value solutions at heightened convenience.
Leading organizations will need to plan and adapt to the changing habits and needs of the end users.
This may also involve increased adoption of the analytics to decipher vast amounts of structured and unstructured data from diverse set of customers and other sources.
Invisible analytics may well become all pervasive so as to decipher and deliver the right information to the right individual at right time for right decision making
Marketing budget reallocations
Another trend we envisage for 2015 and beyond is the evolution of the marketing mix and consequent re-allocation of marketing resources.
Interactions with our customers and veterinarians now encompass a variety of avenues ranging from emails to texts to instant messaging to dedicated web portals to increasingly “occasional” detailing.
As competition intensifies and customers and veterinarians become increasingly glued to their always on, anywhere and everywhere devices – marketers have a new challenge as well an opportunity to engage with their customers.
Traditional marketing long back gave way to “omnichannel” marketing creating unique opportunity to engage with customers seamlessly across channels but as well a challenge in determining the appropriate spends across channels.
As highly aware and connected customers become knowledgeable to seek out necessary information, marketers will have to evolve and alter their marketing mixes and budgets to best serve such customers
Acutely aware and knowledgeable customers and proliferation of technology is bringing “Prevention” into focus once again.
From treatments to timely interventions to eventually proactive prevention, things are turning a full circle and AH Organizations will have to lead customers on the “path to prevention”.
Innovative vaccines, convenient and compliant dosing schedules, precision nutrition & supplements & increased sharing of knowledge with customers will be a key in higher customer satisfaction and retention.
Increased consumer awareness on food safety concerns, visibly active regulatory authorities and demanding processors will only ensure that both producers and animal health organizations evolve their practices and offerings on the path towards prevention.
Hyper-competition visible across will only ensure “survival of the smartest”
From Bolt-on to Strategic, mergers and acquisitions that shaped our industry in 2014 across animal healthcare companies as well as feed & feed supplement companies, in all likelihood will continue in New Year 2015 as well and possibly with same vigor.
2015 may witness further re-alignments among Top 10 Animal Health companies as organizations redraw their strategies to remain competitive and “focus” on increased shareholder value.
Interestingly a new breed of smarter and savvier companies with relatively innovative ideas is fast emerging and a few of these have the potential to hit the radars of bigger AH players.
From activist investors to investor activism, listed Animal Health companies were the “new flavor” of investors in 2014 and in our opinion this love affair will not only continue but will strengthen further in 2015.
For non-listed and upcoming companies too, investors were more than willing to open “fund (flood) gates” for the right ideas as a new breed of companies is witness to this increased benevolence of PE investors.
As discussed in the beginning, a few of these trends have the potential to alter the way we do business, leading to evolution of new business models, focusing on twin corporate objectives of increased customer value while optimizing shareholder value.
We are sure 2015 will usher in “acche din (good days)” for Animal Health Industry globally.
For any suggestions or comments, get in touch with us at: firstname.lastname@example.org