Animal Health Market Size To Reach $112 Billion By 2030

February 2024 | Report Format: Electronic (PDF)

Animal Health Market Growth & Trends

The global animal health market is expected to reach USD 112 billion by 2030, registering a CAGR of 9.0% over the forecast period, according to a new report by Grand View Research, Inc. The market is driven by increased investments in animal health, product approvals, diagnostic rates, initiatives by key companies, and increased animal health expenditure. The market has also remained largely resilient during the COVID-19 pandemic. In November 2023, MSD Animal Health received European Commission approval for BOVILIS CRYPTIUM— a vaccine to protect cattle against Cryptosporidium parvum (C. parvum) infection. This enabled the company to commercialize the product across all European Union countries.

The threat of zoonotic infections spreading through 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 animal health market. Also, MediLabSecure, a laboratory network project, was initiated with an aim of identifying emerging viruses and pathogens in 19 countries in the Mediterranean region. 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.

Key market participants employ various strategies, such as expanding their product portfolio, to gain a competitive advantage. For instance, in January 2021, Zoetis launched the Poulvac Procerta HVT-IBD vaccine for poultry to protect against Infectious Bursal Disease (IBD). This added to Zoetis’ product portfolio of recombinant vector vaccines. The market especially for the companion animal segment was positively impacted during late 2020 and 2021, due to increased pet adoption rates, pet humanization trends, and improved overall diagnostics business sales with increased awareness among pet parents. During 2022 and 2023 however, macroeconomic uncertainties, such as global recession and inflation, notably impacted market revenues for a short period.

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Animal Health Market Report Highlights

  • By product, the pharmaceutical segment dominated the market with a share of about 43% in 2023. The others segment comprising veterinary telehealth, veterinary software, and livestock monitoring solutions is expected to grow the fastest at a rate of about 12% in the near future.

  • In 2023, the production animal segment dominated the market and accounted for the largest revenue share. The companion animal segment is projected to grow at a lucrative rate during the forecast period.

  • The hospital/ clinic pharmacy segment accounted for the largest revenue share in 2023 in terms of distribution channel. The e-commerce segment is anticipated to witness fastest growth rate throughout the forecast period.

  • By end use, the veterinary hospitals and clinics segment accounted for the largest revenue share of the market in 2023. The Point-of-care Testing/In-house Testing segment on the other hand, is projected to grow at the highest CAGR from 2024 to 2030.

  • By region, North America held the highest share of about 32% of the market in 2023. Asia Pacific Region is anticipated to grow the fastest a rate of over 10% in the coming years.

  • Zoonotic diseases, which can be transmitted between animals and humans, highlight the interconnectedness of animal and human health. The increasing awareness of zoonotic risks drives the demand for pharmaceuticals that can prevent and treat diseases with potential public health implications.

Animal Health Market Segmentation

Grand View Research has segmented the global Animal Health market on the basis of product, animal type, distribution channel, end use, and region:

Animal Health Animal Type Outlook (Revenue, USD Million, 2018 - 2030)

  • Production Animals

    • Poultry

    • Swine

    • Cattle

    • Sheep & Goats

    • Fish

  • Companion Animals

    • Dogs

    • Cats

    • Horses

    • Others

Animal Health Product Outlook (Revenue, USD Million, 2018 - 2030)

  • Biologics

    • Vaccines

      • Modified/ Attenuated Live

      • Inactivated (Killed)

      • Other Vaccines

    • Other Biologics

  • Pharmaceuticals

    • Parasiticides

    • Anti-infectives

    • Anti-inflammatory

    • Analgesics

    • Others

  • Medicinal Feed Additives

  • Diagnostics

    • Consumables, reagents and kits

    • Instruments and devices

  • 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, 2018 - 2030)

  • Retail

  • E-commerce

  • Hospital/ Clinic Pharmacy

Animal Health End-use Outlook (Revenue, USD Million, 2018 - 2030)

  • Veterinary Reference Laboratories

  • Point-of-care Testing/In-house Testing

  • Veterinary Hospitals & Clinics

  • Others

Animal Health Regional Outlook (Revenue, USD Million, 2018 - 2030)

  • North America

    • U.S.

    • Canada

  • Europe

    • UK

    • Germany

    • France

    • Italy

    • Spain

    • Netherlands

    • Switzerland

    • Sweden

    • Denmark

    • Norway

    • Russia

    • Ireland

    • Poland

    • Rest of Europe

  • Asia Pacific

    • Japan

    • China

    • India

    • Indonesia

    • Thailand

    • Australia

    • South Korea

    • Philippines

    • Malaysia

    • Singapore

    • Rest of Asia Pacific

  • Latin America

    • Brazil

    • Mexico

    • Argentina

    • Rest of Latin America

  • Middle East & Africa

    • South Africa

    • Saudi Arabia

    • Turkey

    • UAE

    • Kuwait

    • Egypt

    • Iran

    • Israel

    • Rest of MEA

List of Key Players of Animal Health Market

  • Zoetis

  • Ceva Santé Animale

  • Merck & Co., Inc.

  • Vetoquinol S.A.

  • Boehringer Ingelheim Gmbh

  • Elanco

  • Virbac

  • Mars Inc.

  • Dechra Pharmaceuticals Plc

  • Idexx Laboratories, Inc.

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