USD 54.01 billion
Global Animal Health Market Size, Share, Growth Analysis, By Product(Drugs, Vaccines), By Animal(Livestock Animals, Companion Animals), By End User(Veterinary Hospitals & Clinics, Animal Care & Rehabilitation Centers) - Industry Forecast 2024-2031
Report ID:
SQMIG35D2005 |
Region:
Global |
Published Date: April, 2024
Pages:
157
|
Tables:
91 |
Figures:
58
Global Animal Health Market Insights
Animal Health Market size was valued at USD 54.01 billion in 2019 and is poised to grow from USD 58.66 billion in 2023 to USD 112.36 billion by 2031, growing at a CAGR of 8.8% in the forecast period (2024-2031).
Animal healthcare involves treating medical conditions in animals with the appropriate use of drugs, vaccines, medicated animal feeds, and diagnostic products. Animals are extremely important in human life. They provide humans with food, protection, and companionship. Furthermore, animals are used as models in biological research fields such as genetics and drug testing. Growing awareness of animal diseases, stricter regulations, and a greater emphasis on disease prevention from animal epidemics are expected to drive demand for animal healthcare products. As a result of these factors, the veterinary healthcare Animal Health Market is expanding rapidly across all regions.
US Animal Health Market is poised to grow at a sustainable CAGR for the next forecast year.
Market snapshot - 2024-2031
Global Market Size
Largest Segment
Drugs
Fastest Growth
Drugs
Growth Rate
8.8% CAGR
Global Animal Health Market, 2021-2028 ($ Bn)
Country Share for North America Region- 2021 (%)
Global Animal Health Market Size By Product, 2021-2028 ($ Bn)
Global Animal Health Market Size By Product, 2021-2028 (%)
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Global Animal Health Market Segmental Analysis
The Global Animal Health Market is segmented on the basis of Product, Animal, End-User and Region. Based on Product, the market is segmented into Drugs, Vaccines, Feed, and Diagnostics. Based on Animal, the Animal Health Market is segmented into: Livestock Animals and Companion Animals. Based on End User, the market is segmented into Veterinary Hospitals & Clinics, Animal Care & Rehabilitation Centers, Diagnostic Centers, Others. Based on Region, the Animal Health Market is segmented into North America, Europe, Asia-Pacific, South America, and MEA.
Animal Health Market Analysis by Product
In the year 2021, the drugs segment held the largest Animal Health Market share. The segment is expected to maintain its dominance over the forecast period. This is due to the increasing prevalence of various diseases in animals, as well as the increasing number of prescriptions for their treatment. The drugs are needed for disease prevention, control, and eradication in animals. Animal diseases continue to be a concern, primarily due to the economic losses they cause and the possibility of transmission of the causative agents present in their bodies to humans. The diagnostics segment is expected to grow at a significantly high rate during the forecast period, owing to the market's introduction of a large number of new products and techniques.
Animal Health Market Analysis by End User
In 2021, the veterinary hospitals and clinics segment held the largest Animal Health Market share. The segment's growth was aided by an increase in the number of pet hospitals and clinics, as well as increased awareness about the spread of zoonotic diseases. The diagnostic centers segment is expected to grow rapidly during the forecast period as pet owners become more aware of the importance of preventive care for their pets. Furthermore, the introduction of molecular diagnostic tests such as ELISA and PCR, which now account for a significant portion of the animal healthcare centre, is driving the market.
Global Animal Health Market By Product, 2021 (%), 2023 (%)
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Global Animal Health Market Regional Insights
In 2021, North America held the largest share of the global animal health market. North America, which is technologically advanced in terms of therapeutic and diagnostic research and development, demonstrates dominant geography. Furthermore, the region is experiencing a significant increase in pet adoption as well as an increase in zoonotic disease incidences. Europe is expected to hold the second position in this market due to consistent growth over the long term. Increased consumption of animal-based foods, as well as strict animal health regulations, are driving Animal Health Market growth. Animal health care products are expected to grow strongly in Asia Pacific. Asia Pacific countries such as China, Japan, and India have diverse economic development, resulting in an increasing number of biopharma companies focusing on animal health to modernize the drug discovery process.
Global Animal Health Market By Geography, 2021 - 2028, 2024-2031
- Largest
- Fastest
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Global Animal Health Market Dynamics
Animal Health Market Driver
- The animal health market is likely to be driven by an increase in the incidence of zoonotic diseases. The increased adoption of pets for companionship is resulting in increased contact with disease-spreading animal-borne diseases around the world. Increased awareness of preventive measures and the increasing availability of treatment options are expected to drive demand for animal care products during the forecast period.
- The Animal Health Market is primarily driven by an increase in pet adoption, an increase in the incidence of zoonotic diseases, and food-borne diseases, and an increase in global demand for protein-rich food. Furthermore, technological advancements in the Animal Health Market and the introduction of information systems are boosting the growth of the animal health market.
Animal Health Market Restraint
- Strict government regulations on animal drug approval are likely to constrain Animal Health Market growth. For sale in the United States, all animal drugs must be approved by the Food and Drug Administration. The Animal Health Institute estimates that developing a new animal drug can take up to ten years and cost more than USD 100 million before approval. It takes three to five years to develop a new vaccine and costs around USD 80 million. Manufacturers of animal health products contribute to the FDA approval process by charging user fees authorized by the Animal Drug User Fees Act (ADUF) and the Animal Generic Drug User Fee Act.
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Global Animal Health Market Competitive Landscape
The Global Animal Health Market is highly competitive, with the existence of numerous major firms operating in both domestic and international markets. The industry's top players are embracing strategic collaboration initiatives to improve Animal Health Market share and profitability. Some of the major players in the Animal Health Market are Zoetis, Intervet International B.V., Elanco, Ceva, Virbac, Merck & Co., Inc., Novartis AG, Bayer AG among others.
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.
Animal Health Market Recent Developments
- In May 2022, Apiam Animal Health, a group of veterinary offices in Australia, is buying the assets of Victorian Equine Group (VEG) and Romsey Veterinary Surgery for a total of A$13.75 million (US$9.89 million), split A$9.8 million in cash and A$4.0 million in shares.
- In May 2022, MSD Animal Health, a division of Merck & Co., Inc., announced the launch of the DNA TRACEBACK Fisheries platform, a new DNA-based analytical tool that assists governments and fishery agencies in determining the sustainable yield of wild fish stocks and the total allowable catch for fishermen in their region.
Global Animal Health Key Market Trends
- Pet adoption is a significant Animal Health Market trend. People primarily adopt pets for companionship, and there has been a significant shift in the trend from pet owners to pet parentages. According to the American Pet Products Association (APPA) 2019, 67% of households in the United States own a pet. As a result, the growing pet owner population is propelling the animal health market forward.
- Increased awareness and availability of the products, public-private partnerships continue to strengthen growth demand for animal care products. According to the 2017 OIE-World Organization of Animal Health survey, public-private partnerships (PPPs) in veterinary health have the potential to improve the quality of veterinary services globally. This is most likely due to the restructuring of dynamic and sustainable systems that contribute to human health and welfare.
Global Animal Health Market SkyQuest Analysis
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.
To get a free trial access to our platform which is a one stop solution for all your data requirements for quicker decision making. This platform allows you to compare markets, competitors who are prominent in the market, and mega trends that are influencing the dynamics in the market. Also, get access to detailed SkyQuest exclusive matrix.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 54.01 billion |
| Market size value in 2031 | USD 112.36 billion |
| Growth Rate | 8.8% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| 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 |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
| Historical Year | 2019 |
To get a free trial access to our platform which is a one stop solution for all your data requirements for quicker decision making. This platform allows you to compare markets, competitors who are prominent in the market, and mega trends that are influencing the dynamics in the market. Also, get access to detailed SkyQuest exclusive matrix.
Buy The Complete Report to read the analyzed strategies adopted by the top vendors either to retain or gain market share
Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Global Animal Health Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Global Animal Health Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Global 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 Global 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 Global Animal Health Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Global 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.
Global Animal Health Market Report Snapshots
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