The animal health market size has grown strongly in recent years. It will grow from $50.99 billion in 2023 to $55.73 billion in 2024 at a compound annual growth rate (CAGR) of 9.3%. The growth observed during the historical period in the field of animal health can be attributed to several factors. These include the globalization of food supply chains, the intensification of livestock farming practices, a rise in zoonotic diseases (diseases that can be transmitted between animals and humans), a heightened emphasis on regulatory compliance and standards within the industry, and an increased focus on preventive healthcare measures for animals. These factors collectively contributed to the development and expansion of the animal health sector during the historic period.
The animal health market size is expected to see strong growth in the next few years. It will grow to $76.07 billion in 2028 at a compound annual growth rate (CAGR) of 8.1%. The anticipated growth in the forecast period in the field of animal health can be attributed to various factors, including a heightened focus on aquaculture health, the adoption of a one health approach (considering the interconnectedness of animal, human, and environmental health), global efforts in disease surveillance, the expansion of pet insurance coverage, increased crisis preparedness in animal agriculture, and the globalization of animal health products. Key trends expected in the forecast period encompass the integration of technology in diagnostics, advancements in biotechnology and genomics, the adoption of telehealth services for animals, digitalization of supply chain and distribution processes, and collaborative research initiatives within the animal health industry. These trends collectively contribute to the continued growth and evolution of the animal health sector.
The escalating prevalence of zoonotic diseases is poised to bolster the expansion of the animal health market in the foreseeable future. Zoonotic diseases, transmissible between different animal species and humans or vice versa, pose significant health risks. Ensuring robust animal health monitoring and protection methodologies aids in controlling zoonosis and safeguarding public health. For example, as per the World Health Organization, Africa witnessed a 63% surge in zoonotic outbreaks from 2012-2022 compared to the previous decade. Globally, these diseases account for 2.5 billion human illness cases and 2.7 million human deaths annually. Consequently, the growing prevalence of zoonotic diseases will act as a catalyst propelling the animal health market.
The increasing traction for pet insurance is projected to propel the expansion of the animal health market. Pet insurance serves as a financial safeguard covering a portion of veterinary expenses related to pet care, aiding pet owners in managing their healthcare costs. It promotes animal health by offering financial support, encouraging preventive care measures, and fostering responsible pet ownership. For instance, data from the North American Pet Health Insurance Association indicates that the number of insured pets in North America surged to 5.36 million in 2022, marking a notable 21.7% increase from 2021's 4.4 million. Hence, the rising demand for pet insurance emerges as a significant driver propelling the growth of the animal health market.
Technological advancements represent a pivotal trend gaining momentum within the animal health market. Key industry players are intensifying their focus on introducing innovative and sophisticated technologies to fortify their market positions. For instance, in April 2022, Elanco Animal Health Incorporated and Ginkgo Bioworks collaborated to introduce a groundbreaking product named Animo GPS under the Merck Animal Health portfolio. Animo GPS, designed for dogs, integrates GPS tracking with activity and behavior monitoring. Equipped with smart technology, this device tracks individual canine activity levels and behaviors, offering real-time updates through an intuitive mobile application. Notably, the device records behaviors such as barking, scratching, shaking, and sleep duration, utilizing an adaptive algorithm to analyze deviations and promptly alert pet owners through the app. This technological innovation embodies a significant stride toward enhancing pet care and underscores the market's orientation toward cutting-edge solutions.
Leading companies within the animal health market are forging ahead with innovative products such as the Lactate Scout Vet, aiming to secure a competitive edge. This particular product serves as a point-of-care lactate analyzer, significantly enhancing animal health by delivering rapid and precise lactate measurements. For example, in December 2022, EKF Diagnostics, a UK-based healthcare company, introduced the Lactate Scout Vet. Tailored specifically for veterinarians and animal welfare professionals, this device furnishes accurate lactate measurements within a mere 10 seconds. Notably, it features an e-paper display designed to augment result readability. The Lactate Scout Vet caters to various animals such as dogs, horses, pigs, and cattle, aiding in the prognosis and diagnosis of a wide array of animal health conditions, including shock, severe sepsis, low cardiac output, liver failure, poisoning, and drug therapy.
In July 2022, Dechra Pharmaceuticals plc, a UK-based enterprise specializing in the development and marketing of veterinary products, completed the acquisition of Piedmont Animal Health for $210 million. Through this strategic acquisition, Dechra Pharmaceuticals plc will pivot its focus towards the expansion of its human health business. Piedmont Animal Health, a US-based specialty pharmaceutical company, is renowned for its contributions in therapeutics for both human and animal health. This acquisition marks a strategic shift for Dechra Pharmaceuticals, signaling a concentrated effort to steer its growth trajectory towards the human health sector, further consolidating its position and diversification within the pharmaceutical industry.
Major companies operating in the animal health market report are Elanco Animal Health Incorporated, Merck Animal Health, Zoetis Inc., Boehringer Ingelheim International GmbH, Ceva Sante Animale, Heska Corporation, Vetoquinol SA, Virbac, Bayer AG, Novartis AG, Biogenesis Bago, Intervet International BV, IDEXX Laboratories Inc., Hester Biosciences Ltd., Intas Pharmaceutucals Ltd., Dechra Pharmaceuticals, Kindred Biosciences, Phibro Animal Health Corporation, Neogen Corporation, Norbrook Laboratories, Huvepharma EOOD, Abaxis Inc., ECO Animal Health Group, Hipra, Zoetis Inc., Kemin Industries, DeLaval, Troy Laboratories, Parnell Pharmaceuticals, Ceva Sante Animale, Bimeda Inc., Animalcare Group, PetIQ, AdvaVet Inc..
North America was the largest region in the animal health market in 2023. The regions covered in the animal health market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the animal health market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The primary products within the animal health market include vaccines, pharmaceuticals, medicinal feed additives, diagnostics, equipment and disposables, and other related items. Commercial animals or livestock refer to living animals grown or raised for commercial purposes. Animal health products are employed to enhance the productivity of commercial animals, generate income, and maintain overall disease-free conditions. These products are administered through various routes, including oral, parenteral, and topical methods, and are utilized by both commercial and companion animal types. End users of animal health products include veterinary hospitals and clinics, animal care and rehabilitation centers, as well as diagnostic centers.
The animal health market research report is one of a series of new reports that provides animal health market statistics, including animal health industry global market size, regional shares, competitors with an animal health market share, detailed animal health market segments, market trends, and opportunities, and any further data you may need to thrive in the animal health industry. This animal health market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
This product will be delivered within 3-5 business days.
The animal health market size is expected to see strong growth in the next few years. It will grow to $76.07 billion in 2028 at a compound annual growth rate (CAGR) of 8.1%. The anticipated growth in the forecast period in the field of animal health can be attributed to various factors, including a heightened focus on aquaculture health, the adoption of a one health approach (considering the interconnectedness of animal, human, and environmental health), global efforts in disease surveillance, the expansion of pet insurance coverage, increased crisis preparedness in animal agriculture, and the globalization of animal health products. Key trends expected in the forecast period encompass the integration of technology in diagnostics, advancements in biotechnology and genomics, the adoption of telehealth services for animals, digitalization of supply chain and distribution processes, and collaborative research initiatives within the animal health industry. These trends collectively contribute to the continued growth and evolution of the animal health sector.
The escalating prevalence of zoonotic diseases is poised to bolster the expansion of the animal health market in the foreseeable future. Zoonotic diseases, transmissible between different animal species and humans or vice versa, pose significant health risks. Ensuring robust animal health monitoring and protection methodologies aids in controlling zoonosis and safeguarding public health. For example, as per the World Health Organization, Africa witnessed a 63% surge in zoonotic outbreaks from 2012-2022 compared to the previous decade. Globally, these diseases account for 2.5 billion human illness cases and 2.7 million human deaths annually. Consequently, the growing prevalence of zoonotic diseases will act as a catalyst propelling the animal health market.
The increasing traction for pet insurance is projected to propel the expansion of the animal health market. Pet insurance serves as a financial safeguard covering a portion of veterinary expenses related to pet care, aiding pet owners in managing their healthcare costs. It promotes animal health by offering financial support, encouraging preventive care measures, and fostering responsible pet ownership. For instance, data from the North American Pet Health Insurance Association indicates that the number of insured pets in North America surged to 5.36 million in 2022, marking a notable 21.7% increase from 2021's 4.4 million. Hence, the rising demand for pet insurance emerges as a significant driver propelling the growth of the animal health market.
Technological advancements represent a pivotal trend gaining momentum within the animal health market. Key industry players are intensifying their focus on introducing innovative and sophisticated technologies to fortify their market positions. For instance, in April 2022, Elanco Animal Health Incorporated and Ginkgo Bioworks collaborated to introduce a groundbreaking product named Animo GPS under the Merck Animal Health portfolio. Animo GPS, designed for dogs, integrates GPS tracking with activity and behavior monitoring. Equipped with smart technology, this device tracks individual canine activity levels and behaviors, offering real-time updates through an intuitive mobile application. Notably, the device records behaviors such as barking, scratching, shaking, and sleep duration, utilizing an adaptive algorithm to analyze deviations and promptly alert pet owners through the app. This technological innovation embodies a significant stride toward enhancing pet care and underscores the market's orientation toward cutting-edge solutions.
Leading companies within the animal health market are forging ahead with innovative products such as the Lactate Scout Vet, aiming to secure a competitive edge. This particular product serves as a point-of-care lactate analyzer, significantly enhancing animal health by delivering rapid and precise lactate measurements. For example, in December 2022, EKF Diagnostics, a UK-based healthcare company, introduced the Lactate Scout Vet. Tailored specifically for veterinarians and animal welfare professionals, this device furnishes accurate lactate measurements within a mere 10 seconds. Notably, it features an e-paper display designed to augment result readability. The Lactate Scout Vet caters to various animals such as dogs, horses, pigs, and cattle, aiding in the prognosis and diagnosis of a wide array of animal health conditions, including shock, severe sepsis, low cardiac output, liver failure, poisoning, and drug therapy.
In July 2022, Dechra Pharmaceuticals plc, a UK-based enterprise specializing in the development and marketing of veterinary products, completed the acquisition of Piedmont Animal Health for $210 million. Through this strategic acquisition, Dechra Pharmaceuticals plc will pivot its focus towards the expansion of its human health business. Piedmont Animal Health, a US-based specialty pharmaceutical company, is renowned for its contributions in therapeutics for both human and animal health. This acquisition marks a strategic shift for Dechra Pharmaceuticals, signaling a concentrated effort to steer its growth trajectory towards the human health sector, further consolidating its position and diversification within the pharmaceutical industry.
Major companies operating in the animal health market report are Elanco Animal Health Incorporated, Merck Animal Health, Zoetis Inc., Boehringer Ingelheim International GmbH, Ceva Sante Animale, Heska Corporation, Vetoquinol SA, Virbac, Bayer AG, Novartis AG, Biogenesis Bago, Intervet International BV, IDEXX Laboratories Inc., Hester Biosciences Ltd., Intas Pharmaceutucals Ltd., Dechra Pharmaceuticals, Kindred Biosciences, Phibro Animal Health Corporation, Neogen Corporation, Norbrook Laboratories, Huvepharma EOOD, Abaxis Inc., ECO Animal Health Group, Hipra, Zoetis Inc., Kemin Industries, DeLaval, Troy Laboratories, Parnell Pharmaceuticals, Ceva Sante Animale, Bimeda Inc., Animalcare Group, PetIQ, AdvaVet Inc..
North America was the largest region in the animal health market in 2023. The regions covered in the animal health market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the animal health market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The primary products within the animal health market include vaccines, pharmaceuticals, medicinal feed additives, diagnostics, equipment and disposables, and other related items. Commercial animals or livestock refer to living animals grown or raised for commercial purposes. Animal health products are employed to enhance the productivity of commercial animals, generate income, and maintain overall disease-free conditions. These products are administered through various routes, including oral, parenteral, and topical methods, and are utilized by both commercial and companion animal types. End users of animal health products include veterinary hospitals and clinics, animal care and rehabilitation centers, as well as diagnostic centers.
The animal health market research report is one of a series of new reports that provides animal health market statistics, including animal health industry global market size, regional shares, competitors with an animal health market share, detailed animal health market segments, market trends, and opportunities, and any further data you may need to thrive in the animal health industry. This animal health market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
This product will be delivered within 3-5 business days.
Table of Contents
1. Executive Summary2. Animal Health Market Characteristics3. Animal Health Market Trends and Strategies31. Global Animal Health Market Competitive Benchmarking32. Global Animal Health Market Competitive Dashboard33. Key Mergers and Acquisitions in the Animal Health Market
4. Animal Health Market - Macro Economic Scenario
5. Global Animal Health Market Size and Growth
6. Animal Health Market Segmentation
7. Animal Health Market Regional and Country Analysis
8. Asia-Pacific Animal Health Market
9. China Animal Health Market
10. India Animal Health Market
11. Japan Animal Health Market
12. Australia Animal Health Market
13. Indonesia Animal Health Market
14. South Korea Animal Health Market
15. Western Europe Animal Health Market
16. UK Animal Health Market
17. Germany Animal Health Market
18. France Animal Health Market
19. Italy Animal Health Market
20. Spain Animal Health Market
21. Eastern Europe Animal Health Market
22. Russia Animal Health Market
23. North America Animal Health Market
24. USA Animal Health Market
25. Canada Animal Health Market
26. South America Animal Health Market
27. Brazil Animal Health Market
28. Middle East Animal Health Market
29. Africa Animal Health Market
30. Animal Health Market Competitive Landscape and Company Profiles
34. Animal Health Market Future Outlook and Potential Analysis
35. Appendix
Executive Summary
Animal Health Global Market Report 2024 provides strategists, marketers and senior management with the critical information they need to assess the market.This report focuses on animal health market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
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- All data from the report will also be delivered in an excel dashboard format.
Description
Where is the largest and fastest growing market for animal health? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? This animal health market global report answers all of these questions and many more.The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography.
Scope
Markets Covered:1) By Product: Vaccines; Pharmaceuticals; Medicinal Feed Additives; Diagnostics ; Equipment and Disposables; Other Products
2) By Animal Type: Commercial; Companion
3) By Route of Administration: Oral; Parenteral; Topical
4) By End-User: Veterinary Hospitals and Clinics; Animal Care and Rehabilitation Centers; Diagnostic Centers
Companies Mentioned: Elanco Animal Health Incorporated; Merck Animal Health; Zoetis Inc.; Boehringer Ingelheim International GmbH; Ceva Sante Animale
Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,
Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
Delivery format: PDF, Word and Excel Data Dashboard.
Companies Mentioned
- Elanco Animal Health Incorporated
- Merck Animal Health
- Zoetis Inc.
- Boehringer Ingelheim International GmbH
- Ceva Sante Animale
- Heska Corporation
- Vetoquinol SA
- Virbac
- Bayer AG
- Novartis AG
- Biogenesis Bago
- Intervet International BV
- IDEXX Laboratories Inc.
- Hester Biosciences Ltd.
- Intas Pharmaceutucals Ltd.
- Dechra Pharmaceuticals
- Kindred Biosciences
- Phibro Animal Health Corporation
- Neogen Corporation
- Norbrook Laboratories
- Huvepharma EOOD
- Abaxis Inc.
- ECO Animal Health Group
- Hipra
- Zoetis Inc.
- Kemin Industries
- DeLaval
- Troy Laboratories
- Parnell Pharmaceuticals
- Ceva Sante Animale
- Bimeda Inc.
- Animalcare Group
- PetIQ
- AdvaVet Inc.