The global animal health market size is expected to reach USD 92.8 billion by 2030, registering a CAGR of 10.0% during the forecast period, according to a new report by Grand View Research, Inc. The market is driven by technological advancements in veterinary care, which are anticipated to offer the market future growth opportunities. For instance, MediLabSecure, a laboratory network project, was initiated with an aim of identifying emerging viruses and pathogens in 19 countries in the Mediterranean regions. In addition, the emergence of veterinary health information systems, specifically in developed economies, is expected to provide high growth potential in the future.
With the help of these systems, data generated in veterinary clinics can be uploaded on the internet, which can be further shared with other researchers and clinicians. The incorporation of this technology will facilitate real-time analysis for fluctuations in disease prevalence. As a consequence of the aforementioned factors, it is presumed that there will be a significant improvement in the overall penetration rate of veterinary health products, which is anticipated to fuel market demand as well as revenue. The threat of zoonotic infections spreading through mosquitoes, ticks, and fleas or through contact with animals is high. The WHO is involved in various cross-sectoral activities for the purpose of addressing health threats at the human-animal-ecosystem interface.
Food-borne zoonoses, antimicrobial resistance, and emerging zoonoses are some of the threats in the market. The implementation of a wide range of technologies for the detection and monitoring of various animal diseases is one of the major growth contributing factors. North America captured a substantial share in the global market, owing to a wide range of definitive measures adopted by welfare organizations, technological advancements, rising incidence of zoonotic diseases, and an increasing number of pet owners. Asia Pacific is expected to exhibit lucrative growth over the coming years as a consequence of consistent R&D investments deployed by prominent players and their efforts to commercialize branded and generic therapeutics at a relatively inexpensive price.
Key market participants employ sustainability strategies, such as expanding product portfolio, to gain a competitive advantage. For instance, in January 2021, Zoetis launched the Poulvac Procerta HVT-IBD vaccine for the protection of poultry against Infectious Bursal Disease (IBD). This added to Zoetis’ product portfolio of recombinant vector vaccines.
Request a free sample copy or view report summary: Animal Health Market Report
By product, diagnostics are expected to dominate the market due to a significant increase in the adoption of pets, which demands long-term health plans
Based on animal type, the companion animal segment is anticipated to witness a lucrative rate of 10.5% during the forecast period owing to associated health benefits for humans such as lower blood pressure, greater psychological stability, and reduced anxiety attacks
By distribution channel, retail channels and e-commerce platforms accounted for a notable share owing to factors such as convenience associated with online pharmacies and the increasing number of retail pharmacies
The point-of-care testing segment is expected to witness a CAGR of 12.4% over the forecast period due to an increase in demand for highly productive animals and growing investments in R&D for novel animal products
In 2021, North America accounted for the largest revenue share in the market owing to the local presence of established pharmaceutical companies, consistently striving for extensive commercialization of their products
In Asia Pacific, the market is anticipated to witness a CAGR of 10.5% over the forecast period owing to the high clinical urgency to curb incidence of zoonotic diseases and management of disease outbreaks, such as swine influenza and Ebola.
Industry rivalry for the market is expected to remain at a higher level over the forecast period. Market players are involved in adopting extensive growth strategies such as entering strategic alliances, increasing product differentiation, and expansion of product portfolios in an attempt to capture a larger share of the market.
The market is consolidated in nature. The market growth remains steady regardless of disruption in the supply chain due to pandemic
In February 2021, Ceva and INRAE signed an agreement to collaborate in animal health. This partnership is expected to accelerate the innovation and development of products
Animal healthcare is rebounding faster as compared to others post-pandemic. Large animal health companies are focusing on innovative strategies to gain a competitive edge
Grand View Research has segmented the global animal health market on the basis of animal type, product, distribution channel, end use, and region:
Animal Health Type Outlook (Revenue, USD Million, 2017 - 2030)
Production Animal
Poultry
Swine
Cattle
Sheep & Goats
Fish
Companion Animal
Dogs
Cats
Horses
Others
Animal Health Product Outlook (Revenue, USD Million, 2017 - 2030)
Vaccines
Live Attenuated Vaccines
DNA Vaccines
Recombinant Vaccines
Inactivated Vaccines
Others
Pharmaceuticals
Parasiticides
Anti-infectives
Anti-inflammatory
Analgesics
Others
Medicinal Feed Additives
Diagnostics
Instruments
Consumables
Equipment & Disposables
Critical Care Consumables
Anesthesia Equipment
Fluid Management Equipment
Temperature Management Equipment
Rescue & Resuscitation Equipment
Research Equipment
Patient Monitoring Equipment
Others
Veterinary Telehealth
Veterinary Software
Livestock Monitoring
Animal Health Distribution Channel Outlook (Revenue, USD Million, 2017 - 2030)
E-commerce
Retail
Veterinary Hospitals & Clinics
Animal Health End-use Outlook (Revenue, USD Million, 2017 - 2030)
Point-of-care Testing/In-house Testing
Reference Laboratories
Veterinary Hospitals & Clinics
Others
Animal Health Regional Outlook (Revenue, USD Million, 2017 - 2030)
North America
U.S.
Canada
Europe
U.K.
Germany
France
Italy
Russia
Spain
Netherlands
Switzerland
Sweden
Ireland
Poland
Asia Pacific
Japan
China
India
Indonesia
Thailand
Australia
South Korea
Philippines
Malaysia
Singapore
Latin America
Brazil
Mexico
Argentina
Middle East & Africa
South Africa
Saudi Arabia
Turkey
Iran
United Arab Emirates
Israel
List of Key Players of Animal Health Market
Merck Animal Health
Ceva Sante Animale
Vetoquinol S.A.
Zoetis
Boehringer Ingelheim GmbH
Elanco
IDEXX
Heska Corporation
Covetrus
DRE Veterinary
Mars Inc.
Virbac
Televet
Phibro Animal Health Corporation
Vetoquinol S.A
B. Braun Vet Care
This report has a service guarantee. We stand by our report quality.
Your transaction & personal information is safe and secure.
Design an exclusive study to serve your research needs.
Get your queries resolved from an industry expert.
Avail customized purchase options to meet your research needs:
"The quality of research they have done for us has been excellent..."