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The global animal health market reached a value of US$ 34.9 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 43.7 Billion by 2027, exhibiting at a CAGR of 3.6% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic. These insights are included in the report as a major market contributor.
Animal health comprises conserving and safeguarding animals from various diseases and providing essential veterinary treatments. It also involves regular monitoring of animals to prevent disease outbreaks by using proper medications and diagnostic products. It ensures a safe food supply and protects public health from animal-borne diseases. Besides this, maintaining proper animal health aids in providing adequate control and preventive measures to curb the spread of zoonotic diseases among animals and humans.
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The increasing prevalence of zoonotic diseases, including animal flu, tick infestation, and Lyme disease represents one of the key factors positively influencing the market. The emerging trend of adopting pets for companionship is resulting in the spread of animal-borne diseases, which, in turn, is driving the need for proper animal health. In addition, rising awareness among the masses about the benefits of early diagnosis and preventive measures and the easy availability of animal healthcare products and services is propelling market growth. Apart from this, the increasing health consciousness among individuals is catalyzing the demand for protein-rich foods, such as chicken, fish, beef, and meat. Furthermore, the expansion of veterinary hospitals and offline and online distribution channels across the globe is offering a favorable market outlook. Besides this, the development of advanced technological systems through which essential data produced in veterinary clinics are uploaded on the internet and shared with clinicians is supporting the market growth. In line with this, key players are focusing on strategic collaborations to expand their product portfolio by launching veterinary health products in distinctive flavors and tastes. Moreover, increasing research and development (R&D) activities in the healthcare industry for testing the efficacy of drugs and medical devices are driving the market. The growing use of animals in drug discovery to perform research on several genetic and prolonged diseases of humans is strengthening the market growth.
IMARC Group provides an analysis of the key trends in each sub-segment of the global animal health market, along with forecasts at the global, regional, and country level from 2022-2027. Our report has categorized the market based on animal type and product type.
Breakup by Animal Type:
Commercial animals currently account for the majority of the market share as they support global trade, agricultural stability, and other economical sectors.
Breakup by Product Type:
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Pharmaceuticals represent the largest product type due to the rising prevalence of various animal diseases and the expansion of offline and online distribution channels.
Regional Insights:
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North America exhibits a clear dominance in the market as there are various initiatives undertaken by governing agencies and animal welfare organizations for overall improvement of animal health.
Competitive Landscape:
The market is highly fragmented in nature with the presence of several small as well as large players who compete in terms of prices and quality. Some of the major players operating in the market include:
Report Coverage:
| Report Features | Details |
|---|---|
| Base Year of the Analysis | 2021 |
| Historical Period | 2016-2021 |
| Forecast Period | 2022-2027 |
| Units | US$ Billion |
| Segment Coverage | Animal Type, Product Type, Region |
| Region Covered | Asia Pacific, Europe, North America, Latin America, Middle East and Africa |
| Companies Covered | Bayer, Elanco, Merck, Merial, Zoetis Inc., Biogenesis Bago, Boehringer Ingelheim, Ceva Sante Animale, Heska, Neogen, Novartis, Thermo Fisher Scientific, Vetoquinol and Virbac |
| Customization Scope | 10% Free Customization |
| Report Price and Purchase Option | Single User License $ 2499 Five User License $ 3499 Corporate License $ 4499 |
| Post-Sale Analyst Support | 10-12 Weeks |
| Delivery Format | PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request) |
The global animal health market was valued at US$ 34.9 Billion in 2021.
We expect the global animal health market to exhibit a CAGR of 3.6% during 2022-2027.
The rising prevalence of numerous zoonotic diseases, along with the increasing R&D activities in the
veterinary pharmaceutical industry, are currently driving the global animal health market.
The sudden outbreak of the COVID-19 pandemic has led to an increased attention towards the animal
health to monitor the symptoms of coronavirus infection on animals and conduct necessary clinical
research activities.
Based on the animal type, the global animal health market has been segmented into commercial and
companion. Currently, commercial animals hold the majority of the total market share.
Based on the product type, the global animal health market can be divided into pharmaceuticals,
biologicals, medicinal feed additives, and diagnostics. Among these, pharmaceuticals currently represent
the largest market share.
On a regional level, the market has been classified into North America, Asia Pacific, Europe, Latin
America, and Middle East and Africa, where North America currently dominates the global market.
Some of the major players in the global animal health market include Bayer, Elanco, Merck, Merial,
Zoetis Inc., Biogenesis Bago, Boehringer Ingelheim, Ceva Sante Animale, Heska, Neogen, Novartis,
Thermo Fisher Scientific, Vetoquinol, Virbac, etc.
10% Free customization
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