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India Animal Health Market to Reach INR 114.12 Billion by 2027, Catalyzed by Rising Incidences of Zoonotic Diseases

Published on Apr 18, 2022

IMARC Group’s latest report, titled “India Animal Health Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,” finds that the India animal health market size reached INR 67.83 Billion in 2021. Animal health refers to various practices and solutions used to treat and protect animals against various diseases and conditions. Some commonly available animal health products include veterinary drugs, vaccines, pesticides, feed additives, pharmaceuticals, biologics, and diagnostic products. Animal health involves routine monitoring of the health of livestock and domesticated animals to ensure their good health and a constant food supply. It also includes veterinary services to enhance the animal yield and lifespan. In recent years, animal health products have gained immense popularity in India as they also help minimize the risks of inter-species infection among animals.

We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.

India Animal Health Market Trends:

Animal health solutions assist in treating and preventing numerous diseases, such as feline leukemia, Lyme diseases, tick infestation, and animal flu. As a result, the rising incidences of zoonotic diseases in India represent the primary factor driving the market growth. Besides this, the growing awareness regarding animal health has escalated the demand for animal health products among pet and livestock owners. Additionally, various government and non-governmental organizations (NGOs) across the country are taking favorable initiatives to spread awareness about animal disease control and effective treatments. In line with this, the increasing usage of feed additives to improve animal health and enhance the quality of the produce, including milk, meat, and eggs, has catalyzed market growth. Furthermore, recent product innovations, such as the integration of animal health monitoring solutions with the Internet of Things (IoT) and the development of advanced mobile sensors and wearables to monitor animal health and behavior, have accelerated product adoption rates. Other factors, including the expanding veterinary pharmaceutical industry, emerging pet humanization trends, inflating consumer expenditure capacities, ongoing research and development (R&D) activities, and technological advancements, are also creating a positive market outlook. Looking forward, IMARC Group expects the market value to reach INR 114.12 Billion by 2027, growing at a CAGR of 9.52% during the forecast period (2022-2027).

Market Summary:

  • Based on the animal type, the market has been bifurcated into commercial and companion, wherein commercial animals account for the majority of the market share. 
  • On the basis of the product type, the market has been divided into anti-bacterial/antibiotic, anti-chronic respiratory, anticoccidials, dewormers/anthelmintics, disinfectants, enzymes, fly-binder/control, growth promoters, gut health (also includes probiotics, prebiotics), liver tonics, nutritional supplements, toxin binders/immunomodulators/mold inhibitors, vaccines, vitamins/minerals/amino acids, and diagnostics. Amongst these, vaccines represent the largest segment. 
  • The market has been classified based on the distribution channel into veterinary hospitals, veterinary clinics, pharmacies and drug stores, and others. Presently, pharmacies and drug stores exhibit a clear dominance in the market. 
  • Region-wise, Uttar Pradesh holds the leading position in the market. Other major regions include Rajasthan, Madhya Pradesh, Bihar, Andhra Pradesh, Gujarat, and others. 
  • The competitive landscape of the market has also been examined, with some of the key players being Bayer CropScience Limited, Boehringer Ingelheim Animal Health, Cargill India Pvt. Ltd., Merck & Co. Inc., Ceva Sante Animale, Elanco India Private Limited, and Virbac Animal Health India Pvt Ltd.

 

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