Animal health refers to the overall healthcare services and products associated with the care of animals. Rising pet ownership and growing spending on animal healthcare are forecasted to be prime factors driving animal health demand outlook. Growing use of companion animals and rising investments in the development of new veterinary care products are also slated to provide new opportunities for animal health companies going forward. The global animal health market is segmented into animal type, product, distribution channel, end use, and region.
| Report Coverage | Details |
| Market Revenue in 2023 | $ 63 Billion |
| Estimated Value by 2031 | $ 117.48 Billion |
| Growth Rate | Poised to grow at a CAGR of 8.1% |
| Forecast Period | 2024–2031 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Animal Type, Product, Distribution Channel, End Use, and Region |
| Geographies Covered | North America, Europe, Asia Pacific, and the Rest of the world |
| Report Highlights | Animal health awareness remains prime focus for all market players |
| Key Market Opportunities | Adoption of precision animal husbandry practices |
| Key Market Drivers | Growing demand for preventive healthcare measures for animals will drive animal health market |
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Pharmaceutical Products to Promote Animal Health Estimated to Bring in Major Revenue
Pharmaceuticals and drugs play a crucial role in the regulation of animal health, and this is why this segment is the most lucrative for all companies. The growing diversity of animal diseases and rising demand for better treatment options are projected to bolster the demand for animal health pharmaceutical products in the future. High investments in the development of novel animal health drugs and pharmaceuticals are also estimated to help market growth via this segment going forward.
Meanwhile, rising awareness regarding animal health and the growing demand for preventive healthcare among pet owners is projected to make the diagnostic segment a highly attractive one. Development of novel animal health diagnostic solutions and services to promote preventive healthcare adoption among animals should be the prime focus of new companies entering the animal health market.
Global Animal Health Market is segmented By Animal Type, By Product, By Distribution Channel, By End Use and By Region. Based on Animal Type, the market can be segmented in Production Animals (Poultry, Swine, Cattle, Sheep & Goats, Fish), Companion Animal (Dog, Cat, Horse, Others). Based on Product, the market can be segmented in to Biologics (Vaccines [Modified/ Attenuated Live, Inactivated(Killed), Other Vaccines], Other Biologics), Pharmaceuticals (Parasiticides, Anti-Infectives, Anti -Inflammatory, Analgesics, other), Medicinal Feed Additives, Diagnostics (Consumables, Reagents and Kits, Instruments and Devices), Equipment & Disposables (Critical care Consumables, Anesthesia equipment, Temperature Management Equipment, Rescue & Resuscitation Equipment, Research Equipment, Patient Monitoring Equipment), Others (Veterinary Telehealth, Veterinary Software, Livestock Monitoring. Based on Distribution Channel, the market can be segmented in to Retail, E-Commerce, Hospital/Clinic Pharmacy. Based on End Use, the market can be segmented Veterinary Reference Laboratories, Point-of-care Testing/In-house Testing, Veterinary Hospitals & Clinics and Others . Based on region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
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Adoption of Precision Animal Husbandry Practices to Promote Demand of Animal Health
Rapidly increasing global population has led to a high demand for food products and animal-based food products are a key part of people’s diet. Growing number of people moving toward livestock farming to satisfy the surging demand for meat, dairy, and other animal-based food products will also bolster the importance of animal health among livestock farmers. Livestock segment is estimated to emerge as the most opportune one for new as well as established animal health companies in the future.
Veterinary Hospitals and Clinics Forecasted to Spearhead Animal Health Demand
Most pet owners take their animals to veterinary clinics and hospitals for their primary as well as tertiary animal health needs. Growing number of veterinary hospitals and clinics around the world is expected to help this segment account for a dominant share of the global animal health market.
New companies should focus on the diagnostics and veterinary clinics/hospitals segments to maximize their business scope and compete with leading animal health providers.
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Animal Health Market Top Players Company Profiles
- Zoetis Inc.
- Merck Animal Health
- Elanco Animal Health
- Boehringer Ingelheim Animal Health
- Bayer Animal Health
- Virbac
- Ceva Santé Animale
- IDEXX Laboratories, Inc.
- Vetoquinol S.A.
- Dechra Pharmaceuticals PLC
- Neogen Corporation
- Phibro Animal Health Corporation
- Kindred Biosciences, Inc.
- Norbrook Holdings Limited
- Heska Corporation
- Nutreco N.V.
- AniCura AB
- PetIQ, Inc.
- Idexx Laboratories
- Petmed Express, Inc.
