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Animal Health Market Size is valued at USD 62.3 Bn in 2024 and is predicted to reach USD 128.7 Bn by the year 2034 at an 7.5% CAGR during the forecast period for 2025-2034.
Global Animal Health Market 2025-2034 full Research Repot latest version is now available.
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Animal healthcare involves the proper application of medications, vaccines, medicated animal diets, and diagnostic tools to treat medical diseases affecting animals. Animals play a crucial role in human existence by providing companionship, food, and protection, and they are also widely used as models in biological research, including drug testing and genetics.
The demand for animal healthcare products is expected to rise due to increased awareness of animal diseases, stricter regulations, and a greater focus on preventing disease outbreaks caused by animal epidemics. As a result, the animal health market is experiencing significant growth worldwide. The increasing global demand for protein and other food products has further emphasized the need for an improved animal healthcare system.
Major market players are developing modern medications to address the rising number of animal ailments, and the pharmaceutical industry has introduced various immunizations to prevent numerous animal diseases. Additionally, several industries have implemented measures to reduce the risk of foodborne illnesses and pathogens, thereby preventing animal infections. The COVID-19 pandemic also had a notable impact on the animal healthcare system, leading to a steady increase in demand throughout the outbreak.
In April 2024, Zoetis Inc. and Phibro Animal Health Corporation announced that Phibro Animal Health would acquire Zoetis’ medicated feed additive (MFA) product portfolio, along with some water-soluble products and related assets, for $350 million, subject to usual closing adjustments. This deal is expected to be finalized in the second half of 2024.
According to data from the animal health sector, there is a growing trend toward preventative healthcare for both livestock and companion animals, as pet owners and livestock producers recognize the importance of early detection and proactive health management to enhance animal well-being and reduce disease risks. Meanwhile, rapid advancements in biotechnology and pharmaceuticals are transforming the diagnosis and treatment of animal diseases.
Cutting-edge research and innovative technologies are driving the development of customized treatments, vaccines, and precision medications for specific animal species and medical conditions. Breakthroughs in biotechnology, including DNA sequencing, polymerase chain reaction (PCR), gene editing, and cell therapies, offer promising solutions for complex illnesses. Additionally, pharmaceutical companies continue to invest in research and development (R&D) to create safer and more effective medications for animals.
List of Prominent Players in the Animal Health Market:
Virbac S.A.
NEOGEN Corporation
Zoetis Inc.
Vetoquinol S.A.
Dechra Pharmaceuticals plc
Mars Inc.
Animalcare Group plc
Bimeda
Biognesis Bag
Bioveta
China Animal Husbandry Industry Company
Chanelle
ImmuCell Corporation
Laboratorios CALIER, S.A
HIPRA, S.A.
Norbrook Laboratories
Alembic Animal Health
Boehringer Ingelheim GmbH
Elanco
IDEXX Laboratories, Inc.
Ceva Santé Animale
Merck & Co Inc.
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Animal Health Market Report Scope
Report Attribute Specifications
Market Size Value In 2023 USD 59.0 Bn
Revenue Forecast In 2031 USD 128.7 Bn
Growth Rate CAGR CAGR of 7.5% from 2024 to 2031
Quantitative Units Representation of revenue in US$ Bn and CAGR from 2024 to 2031
Historic Year 2019 to 2023
Forecast Year 2024-2031
Report Coverage The forecast of revenue, the position of the company, the competitive market structure, growth prospects, and trends
Segments Covered
Regional Scope North America; Europe; Asia Pacific; Latin America; Middle East & Africa
Market Dynamics:
Drivers:
The rising number of pet owners, particularly among Millennials and Gen Z, is driving the growth of the the market, with increasing demand for innovative tools to enhance pet care, safety, and health management. Simultaneously, the growing global demand for meat, milk, and eggs is fueling investments in livestock health through vaccines, feed additives, and disease prevention measures.
Additionally, governments and regulatory bodies are enforcing stricter animal welfare and food safety regulations, promoting the adoption of vaccines, antimicrobial alternatives, and effective disease management strategies.
Challenges:
Strict government regulations on animal drug approvals pose a challenge to market growth, with all drugs requiring approval from the U.S. Food and Drug Administration before being sold in the U.S. According to the Animal Health Institute, developing a new animal drug can take up to 10 years and cost over USD 100 million.
Additionally, the high costs of advanced treatments, diagnostics, and veterinary services further limit access to quality animal healthcare, especially in developing regions.
Regional Trends:
North America has the largest market share during the forecast period. The government animal care agencies’ broad variety of decisive initiatives, which continuously aim for overall improvement, are responsible for the dominating share. For example, the existence of Animal Health Emergency Management (AHEM) focuses on quality, safety, and affordability issues related to animal products to guarantee food security.
Furthermore, these groups concentrate on managing unexpected illness outbreaks, preventing harmful agents, and developing effective methods for disease eradication and control. However, The Asia-Pacific region is the fastest-growing in the animal health market.
Increasing disposable income and changing lifestyles, especially in countries like China, India, and Japan, are fueling pet adoption and demand for veterinary services. Growing consumption of meat, dairy, and poultry products has led to increased investments in livestock health, including vaccines, feed additives, and disease prevention solutions.
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Recent Developments:
In Dec 2024, Zoetis Inc., introduced the Vetscan OptiCellTM, a novel screenless point-of-care hematological analyzer, to the world at the Veterinary Meeting & Expo (VMX) in January in Orlando, Florida. It is the first veterinary hematology diagnostic instrument that uses a cartridge and artificial intelligence (AI) to provide accurate insights in minutes through full blood count (CBC) analysis.
In January 2024, Neogen Corporation declared the Provecta Pro Flea & Tick Collar for Dogs to be available. For dogs and pups 12 weeks of age and up, Provecta Pro provides easy and mess-free protection. Containing two active ingredients, Deltamethrin and the IGR (S)-Methoprene, Provecta Pro provides long-lasting, full-body protection against fleas, ticks, and mosquitoes* for six months.
In November 2023, Virbac completed the acquisition of Globion’s majority interest. By expanding Virbac India’s current poultry offering into the expanding field of avian vaccines, this deal will strengthen position as India’s leader in animal health. The development, production, and marketing of live and inactivated vaccines that target a wide range of avian infections are areas in which Globion has established strong knowledge and competence.
Segmentation of Animal Health Market.
Global Animal Health Market- By Product
Pharmaceuticals
o Parasiticides
o Anti-infectives
o Anti-inflammatory
o Analgesic
o Others
Biologics
o Vaccines
Modified/ Attenuated Live
Inactivated (Killed)
Others
o Other Biologics
Medicinal Feed Additives
Diagnostics
o Consumables
o Instruments
Equipment & Disposables
o Critical Care Consumables
o Anesthesia Equipment
o Fluid Management Equipment
o Temperature Management Equipment
o Rescue & Resuscitation Equipment
o Research Equipment
o Patient Monitoring Equipment
Others
o Veterinary Software
o Veterinary Telehealth
o Livestock Monitoring
Global Animal Health Market By Animal
Companion Animals
o Dogs
o Cats
o Horses
o Others
Production Animals
o Cattle
o Swine
o Poultry
o Sheep & Goats
o Fish
Global Animal Health Market By Distribution Channel
Hospital/ Clinic Pharmacy
Retail
E-commerce
Global Animal Health Market By End User
Veterinary Hospitals & Clinics
Veterinary Reference Laboratories
Home Use
Others
Global Animal Health Market By Region
North America-
The US
Canada
Mexico
Europe-
Germany
The UK
France
Italy
Spain
Rest of Europe
Asia-Pacific-
China
Japan
India
South Korea
Southeast Asia
Rest of Asia Pacific
Latin America-
Brazil
Argentina
Rest of Latin America
Middle East & Africa-
GCC Countries
South Africa
Rest of the Middle East and Africa
Why should buy this report:
To receive a comprehensive analysis of the prospects for global Animal Health market
To receive industry overview and future trends of global Animal Health market
To analyze the Animal Health market drivers and challenges
To get information on the Animal Health market size value (US$ Mn) forecast till 2031
Major Investments, Mergers & Acquisition in global Animal Health industry
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