Inquire Before Buying
Speak to an Analyst
Request Brochure
IMARC made the whole process easy. Everyone I spoke with via email was polite, easy to deal with, kept their promises regarding delivery timelines and were solutions focused. From my first contact, I was grateful for the professionalism shown by the whole IMARC team. I recommend IMARC to all that need timely, affordable information and advice. My experience with IMARC was excellent and I can not fault it.
Read More- Home
- |
- Press Release
- |
- Global Animal Health Market
Global Animal Health Market to Reach US$ 49.5 Billion by 2032, Propelled by Rapid Expansion of Veterinary Healthcare Facilities
March 24, 2023
| Healthcare
According to the latest report by IMARC Group, titled “Animal Health Market Report by Animal Type (Commercial, Companion), Product Type (Pharmaceuticals, Biologicals, Medicinal Feed Additives, Diagnostics), and Region 2024-2032”, the global animal health market size reached US$ 37.8 Billion in 2023. Animal health encompasses the overall physical, mental, and social well-being of animals and has significant implications for human health and well-being. In addition to preventing disease and illness, it also promotes general health and guards against health problems. Achieving optimal animal health involves preventing illness and disease, providing appropriate shelter, nutrition, and timely veterinary care. Ensuring proper animal healthcare results in animals that are more productive and able to produce higher-quality animal products, which is vital to the agriculture and food production industries. Additionally, by limiting the spread of disease among animals, the risk of zoonotic diseases is significantly reduced, which can adversely affect human health. Therefore, ensuring proper animal health is a practical necessity for protecting animal welfare, safeguarding public health, and increasing productivity.
Global Animal Health Market Trends:
The global market is majorly driven by the augmenting demand for animal protein among the masses. This can be attributed to the paradigm shift in the dietary preferences of individuals toward protein-rich foods, such as fish, eggs, and meat. In line with this, the increasing prevalence of zoonotic infections that can be transmitted from animals to humans is resulting in a higher demand for animal health services to control and prevent these diseases. Moreover, continual technological advancements, such as the introduction of biotechnology and genomics-based vaccines and diagnostics for animal diseases, are providing an impetus to the market. Furthermore, the expansion of veterinary hospitals is creating lucrative growth opportunities in the market. The increasing number of pet owners across the globe is resulting in an increasing expenditure on pet healthcare, which, in turn, is driving the demand for animal health products and services for companion animals. The market is further fueled by the augmenting understanding regarding the advantages of timely detection and preventative measures, along with the convenient access to animal healthcare services and products. Some of the other factors contributing to the market include favorable government initiatives to improve animal health and welfare, growing consolidation in the animal health industry in the form of merger and acquisitions (M&As), easy product availability across online and offline organized retail channels, numerous product innovations, and extensive research and development (R&D) activities. On account of the aforementioned factors, the market is anticipated to reach a value of US$ 49.5 Billion by 2032, exhibiting a CAGR of 2.9% during 2024-2032.
Market Summary:
- Based on the animal type, the market has been segmented into commercial and companion. Among these, commercial represent the largest market segment.
- On the basis of the product type, the market has been divided into pharmaceuticals, biologicals, medicinal feed additives, and diagnostics. Among these, pharmaceuticals represent the largest market segment.
- On the geographical front, the market has been segregated into North America, Asia-Pacific, Europe, Latin America and Middle East and Africa. At present, North America holds the leading position in the market.
- The competitive landscape of the market has been studied in the report with the detailed profiles of the key players. Some of these players include Bayer, Elanco, Merck, Merial, Zoetis Inc., Biogenesis Bago, Boehringer Ingelheim, Ceva Sante Animale, Heska, Neogen, Novartis, Thermo Fisher Scientific, Vetoquinol, and Virbac.
Report Scope:
| Report Features | Details |
|---|---|
| Base Year of the Analysis | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| 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: US$ 2499 Five User License: US$ 3499 Corporate License: US$ 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) |
About Us:
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
Contact Us:
IMARC Group
30 N A
Email: Sales@imarcgroup.com
Tel No:(D) +91 120 433 0800
Americas:- +1 631 791 1145 | Africa and Europe :- +44-753-713-2163 | Asia: +91-120-433-0800
Need more help?
- Speak to our experienced analysts for insights on the current market scenarios.
- Include additional segments and countries to customize the report as per your requirement.
- Gain an unparalleled competitive advantage in your domain by understanding how to utilize the report and positively impacting your operations and revenue.
- For further assistance, please connect with our analysts.
Purchase options
Benefits of Customization
Personalize this research
Triangulate with your data
Get data as per your format and definition
Gain a deeper dive into a specific application, geography, customer, or competitor
Any level of personalization
Get in Touch With Us
UNITED STATES
Phone: +1-631-791-1145
INDIA
Phone: +91-120-433-0800
UNITED KINGDOM
Phone: +44-753-714-6104
Email: sales@imarcgroup.com
Client Testimonials
The IMARC team was very reactive and flexible with regard to our requests. A very good overall experience. We are happy with the work that IMARC has provided, very complete and detailed. It has contributed to our business needs and provided the market visibility that we required
Read More
We were very happy with the collaboration between IMARC and Colruyt. Not only were your prices competitive, IMARC was also pretty fast in understanding the scope and our needs for this project. Even though it was not an easy task, performing a market research during the COVID-19 pandemic, you were able to get us the necessary information we needed. The IMARC team was very easy to work with and they showed us that it would go the extra mile if we needed anything extra
Read More
Last project executed by your team was as per our expectations. We also would like to associate for more assignments this year. Kudos to your team.
Read More.webp)
We would be happy to reach out to IMARC again, if we need Market Research/Consulting/Consumer Research or any associated service. Overall experience was good, and the data points were quite helpful.
Read More
The figures of market study were very close to our assumed figures. The presentation of the study was neat and easy to analyse. The requested details of the study were fulfilled. My overall experience with the IMARC Team was satisfactory.
Read More
The overall cost of the services were within our expectations. I was happy to have good communications in a timely manner. It was a great and quick way to have the information I needed.
Read More
My questions and concerns were answered in a satisfied way. The costs of the services were within our expectations. My overall experience with the IMARC Team was very good.
Read More
I agree the report was timely delivered, meeting the key objectives of the engagement. We had some discussion on the contents, adjustments were made fast and accurate. The response time was minimum in each case. Very good. You have a satisfied customer.
Read More.webp){kind=logo}
We would be happy to reach out to IMARC for more market reports in the future. The response from the account sales manager was very good. I appreciate the timely follow ups and post purchase support from the team. My overall experience with IMARC was good.
Read More
IMARC was a good solution for the data points that we really needed and couldn't find elsewhere. The team was easy to work, quick to respond, and flexible to our customization requests.
Read More
IMARC did an outstanding job in preparing our study. They were punctual and precise, delivering all the data we required in a clear and well-organized format. Their attention to detail and ability to meet deadlines was impressive, making them a reliable partner for our project.
Read More