USD 63.3 billion
Report ID:
SQMIG35D2005 |
Region:
Global |
Published Date: April, 2025
Pages:
157
|Tables:
91
|Figures:
79
Animal Health Market size was valued at USD 63.3 billion in 2023 and is poised to grow from USD 67.92 billion in 2024 to USD 119.34 billion by 2032, growing at a CAGR of 7.3% during the forecast period (2025-2032).
The animal health market represents manufacturers and producers of animal health products, including vaccines, diagnostics, vaccines, antibiotics, digital technology, and other equipment. It has been observed that worldwide, livestock production has increased. Animals provide food, security and companionship. Furthermore, animal health needs to be monitored as experts estimate that at least 60% of all human diseases can be transmitted from humans to animals and vice versa of course new human diseases emerging in three decades of the past 75% are of animal or zoonotic origin. The animal health industry researches, develops and distributes licenses and vaccines for companion animals (pet) and food animals is a dynamic and innovative industry delivering high quality, safe and effective products for.
Furthermore, animals are used as models in areas of biological research such as genetics and drug testing. Increasing awareness of animal diseases, stringent regulations and greater emphasis on prevention of diseases from animal epidemics are expected to fuel the demand for animal health products These factors lead to the expansion of the animal health products market rapidly in all areas.
US Animal Health Market is poised to grow at a sustainable CAGR for the next forecast year.
Market snapshot - 2025-2032
Global Market Size
USD 63.3 billion
Largest Segment
Poultry
Fastest Growth
Pet
Growth Rate
7.3% CAGR
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Global Animal Health Market is segmented by Animal Type, Product Type, Distribution Channel, End User and region. Based on Animal Type, the market is segmented into Production Animals and Companion Animals. Based on Product Type, the market is segmented into Biologics, Pharmaceuticals, Medicinal Feed Additives, Diagnostics, Equipment & Disposables and Others. Based on Distribution Channel, the market is segmented into Retail, E-Commerce and Hospital/ Clinic Pharmacy. Based on End User, the market is segmented into 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, Latin America and Middle East & Africa.
Analysis by Product
In the year 2023, the pharmaceutical segment had the largest market share. The segment is expected to remain dominant over the forecast period. The occurrence of animal diseases imposes significant economic and social costs due to the increasing diversity of diseases in livestock and the increasing number of treatments, procedures, and stimulates capital investment and public support in animal health. For instance, the 2019 African swine flu outbreak cost $112.5 billion, and cattle foot and mouth disease cost about $21 billion annually. Thus, drugs are needed to prevent, control and eradicate diseases from animals.
However, the diagnostic segment is the fastest growing segment with the highest growth rate during the forecast period, as the market introduces many new products and new processes The product type accounts for 21.5% of the global market share. Animal research is a rapidly growing market. The rise of 'welfare-monitoring' especially in pets is increasingly followed by screening to identify an animal's health patterns and identify hidden problems before they become serious later. To identify disease diagnosis as a key preventive tool for prevention, not just the diagnosis of serious issues, but will provide better overall health for animals.
Analysis by Animal
In 2023, the livestock animal segment is the dominant segment and is expected to grow during the forecast period. For instance, based on our in-depth analysis the majority of livestock farming comes from cattles which contributes 25% of overall livestock animal health market, follwed by pig with 18% and poultry with 11%. As livestock production modernizes to meet global human food demand, market participants will increasingly adopt precision animal husbandry techniques, biosecurity programs, annual vaccination, etc. It is anticipated that this will help the segment remain dominant over the forecast period.
However, the companion animal segment is expected to be the fastest growing during the forecast period. This segment contributes about 40% in sales of animal health market. This is due to the rise in pet insurance, pet socialization, pet costs, and increased medical rates. The trend toward humanizing companion animals as primarily family members has led to increased spending on their health care. Added to this trend is the willingness of pet owners to invest in advanced veterinary medicine and treatment.
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In 2023, North America will hold the largest share of the Animal Health market with around 35%. Technologically advanced North America presents a geography of great potential in medical and diagnostic research and development. The livestock industry is important in North America, including cattle, poultry, hogs, and more. The need to look after the health and welfare of these animals drives the demand for veterinary products and services. The area is experiencing a sharp increase in adoption of pets and disease-carrying animals. In addition, North American companies invest heavily in R&D to develop new products and improve existing ones. This continuous innovation helps maintain the industry's dominance in the global animal health market.
However, Europe is expected to occupy the second position in this market due to its consistent growth over the long term. Increasing consumption of animal products, and stringent animal health regulations are the main driving factors in the market growth. Moreover, the characteristics of European pet owners, characterized by increased affinity for companion animals and increased expenditure on their healthcare contribute to the market expansion especially the peak demand period of veterinary survey witnesses with pet owners prioritizing preventative care and early detection of disease for their beloved pets.
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Rising Zoonotic Concerns and Pet Ownership Fueling Growth in Animal Health Market
Emergence of Novel Disease Conditions
Navigating Regulatory Hurdles
High-Cost Concerns could hamper the growth of Animal Health Market
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Global Animal Health market is highly competitive, with many leading companies vying for dominance in both domestic and international sectors. To strengthen their market presence and increase profitability, business leaders are increasingly turning to strategic collaboration. Major players such as Zoetis, Intervet International B.V., Elanco, Seva, Wirbach, Merck & Co, Inc., Novartis AG and Bayer AG are among the top players. These companies invest heavily in research and development to develop new products and expand their businesses. Focusing on leveraging alliances and expanding their geographic reach that these companies are poised to maintain their stronghold in the dynamic animal health market.
SkyQuest's ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research. SQ identified the key dominating segments of the Animal Health Market by offerings and verticals.
According to our analysis, the field of animal health is shifting toward the development of smart health monitoring devices that can keep track of health remotely. Because of the Internet of Things (IoT) trend, technology is advancing in every sector, including animal health. Private and public partnerships could make this technology more affordable and animal-friendly.
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Report Metric | Details |
---|---|
Market size value in 2023 | USD 63.3 billion |
Market size value in 2032 | USD 119.34 billion |
Growth Rate | 7.3% |
Base year | 2024 |
Forecast period | 2025-2032 |
Forecast Unit (Value) | USD Billion |
Segments covered |
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Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
Companies covered |
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Customization scope | Free report customization with purchase. Customization includes:-
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Table Of Content
Executive Summary
Market overview
Parent Market Analysis
Market overview
Market size
KEY MARKET INSIGHTS
COVID IMPACT
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
Methodology
For the Animal Health Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Animal Health Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Animal Health Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Animal Health Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
Animal Health Market size was valued at USD 63 Billion in 2023 and is poised to grow from USD 68.1 Billion in 2024 to USD 127 Billion by 2032, growing at a CAGR of 8.1% during the forecast period (2025-2032).
Global Animal Health market is highly competitive, with many leading companies vying for dominance in both domestic and international sectors. To strengthen their market presence and increase profitability, business leaders are increasingly turning to strategic collaboration. Major players such as Zoetis, Intervet International B.V., Elanco, Seva, Wirbach, Merck & Co, Inc., Novartis AG and Bayer AG are among the top players. These companies invest heavily in research and development to develop new products and expand their businesses. Focusing on leveraging alliances and expanding their geographic reach that these companies are poised to maintain their stronghold in the dynamic animal health market. '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.'
The animal health market is likely to be driven by the growth of zoonotic diseases. The increasing trend of adopting pets as companions is contributing to the spread of animal-borne diseases, which are the most contagious diseases worldwide. This increased risk underscores the importance of raising awareness of prevention strategies. At the same time, increasing therapeutic options are expected to drive the demand for veterinary care products in the near future. Zoonotic diseases, which can be transmitted between animals and humans, pose significant public health concerns, underscoring the need for proactive measures to reduce their spread.
Tech-Driven Transformation is Revolutionizing the Animal Health Industry: Technological advances are transforming the animal health industry, driving unprecedented growth and innovation. The emergence of sophisticated tools such as gene editing, precision medicine and digital health monitoring are bringing about a paradigm shift in this sector According to our analysis, the animal health market is expected to reach US$ 12.6 billion by 2025, at a rate of 8.8%. From wearable devices that track vital signs to AI-powered diagnostic tools, these technologies are advancing disease prevention, recovery and treatment, ultimately improving animal welfare and crops production at both farm and household levels.
In 2023, North America will hold the largest share of the Animal Health market with around 35%. Technologically advanced North America presents a geography of great potential in medical and diagnostic research and development. The livestock industry is important in North America, including cattle, poultry, hogs, and more. The need to look after the health and welfare of these animals drives the demand for veterinary products and services. The area is experiencing a sharp increase in adoption of pets and disease-carrying animals. In addition, North American companies invest heavily in R&D to develop new products and improve existing ones. This continuous innovation helps maintain the industry’s dominance in the global animal health market.
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