The global Animal Health Market size was valued at USD 41,256 Million in 2021 and is predicted to be worth USD 67,330 Million by 2030, with a CAGR of 5.8% during the Forthcoming Period from 2022 to 2030.

Animal Health Market Dynamics

Market Drivers

• Rising rates of zoonotic diseases
• Increasing research and development in veterinary medicine
• Continuing to rising consumption of meat and milk
• Growing government efforts to improve animal health have resulted in a boom in veterinary vaccination sales

Market Restraints

• Stringent Government Regulations
• Lack of infrastructure development

Market Opportunities

• Rising trend of pet adoption
• Acceptance of cutting-edge technologies by prominent players

Animal Health Market Statistics

Rising disposable income, high spending capacity of consumers on pet health and nutrition is a major factor expected to drive the growth of the global market. There is gradual increase in number of consumer adopting pet. They are spending high on pet health and wellness which is resulting in demand for nutritional food and supplementary product. Manufactures are focused of providing various innovative products.

High spending by the major players for R&D activities, coupled with innovative product offerings is another factors expected to further augment the growth of target market. Major players are investing high for product development their approach towards providing various vaccines, painkillers, and antibiotics. Players approach towards innovative product offerings and high spending on strengthening the distribution channel is supporting the target market growth.

In 2020, Zoetis received approval from FDA for Simparica TrioTM (sarolaner, moxidectin, and pyrantel chewable tablets), the first once-monthly, chewable tablet in the U.S. that delivers all-in-one protection from heartworm disease, ticks and fleas, roundworms and hookworms. This will help the company to strengthen their position in the US market.

In addition, strategic mergers and acquisitions activity by the players in order to increase the customer base and enhance the product portfolio is another factor expected to further impact the target market growth.

In 2021, Zoetis acquired Ethos Diagnostic Science, a veterinary reference lab business that is dedicated to serve leading specialty animal hospitals, the greater veterinary community and researchers with accurate, reliable results. This will help the company to strengthen its position in diagnostics and offer comprehensive and enhanced value to veterinarians in the US market.

However, stringent government regulation related to product approval and lack of standard regulations related to drugs is factor expected to hamper the growth of the global market. In addition, lack of developed infrastructure for R&D activities in developing countries is expected to challenge the growth of target market.

High spending by the players for R&D activities and innovative product offerings are factors expected to create new opportunities for players over the forecast period. In addition, consumer inclination towards point-of-care testing/in-house testing is resulting in introduction of innovative product further supporting the revenue traction of the target market.

Animal Health Market Segmentation

The global animal health market segmentation is based on the animal type, product type, distribution channel, end use, and geographical region.

Market by Animal Type

• Production Animal
  • Poultry
  • Swine
  • Cattle
  • Sheep & Goats
  • Fish
• Companion Animal
  • Dogs
  • Cats
  • Horses
  • Others

Based on the Animal Type, the production animal segment will dominate the global market in 2021. The production animal segment is further subdivided into the poultry, swine, sheep & goats, cattle, and fish categories. Due to the widespread concern for food health and sustainability on the part of government healthcare institutions, the segment holds a sizable market share.

Market by Product Type

• Vaccines
  • Live Attenuated Vaccines
  • DNA Vaccines
  • Recombinant Vaccines
  • Inactivated Vaccines
  • Others
• Pharmaceuticals
  • Parasiticides
  • Anti-infectives
  • Anti-inflammatory
  • Analgesics
  • Others
• Feed Additives
  • Nutritional
  • Medicinal
• Diagnostics
  • Instruments
  • Consumables
• Others

In terms of product, the pharmaceutical segment is predicted to increase significantly in the market over the next few years. It is anticipated that it will hold onto its leading position throughout the projected period due to ongoing advancements in veterinary medications. The most often used pharmaceuticals are anti-inflammatory drugs, parasiticides, antibiotics, and other drugs.

Market by Distribution Channel

• Retail
• E-commerce
• Veterinary Hospitals & Clinics

The distribution channel segment is bifurcated into retail, e-commerce, and veterinary hospitals & clinics. Among the end use the point-of-care testing/in-house testing is expected to witness faster growth over the forecast period.

Market by End Use

• Reference Laboratories
• Point-of-care Testing/In-house Testing
• Veterinary Hospitals & Clinics
• Others

In terms of end use, veterinary hospitals and clinics will account for more than two-thirds of the market in 2021. Due to a number of applications, comprising toxicological tests, clinical pathology, and therapy, the segment holds the largest market share. The accessibility of a broad range of both therapeutic and diagnostic treatments in veterinary hospitals and clinics is a high-impact key growth engine for this industry.

Animal Health Market Regional Outlook

North America

• U.S.
• Canada

Europe

• U.K.
• Germany
• France
• Spain
• Rest of Europe

Latin America

• Mexico
• Brazil
• Rest of Latin America

Asia-Pacific

• India
• Japan
• China
• Australia
• South Korea
• Rest of Asia-Pacific

The Middle East & Africa (MEA)

• Gulf Cooperation Council (GCC)
• South Africa
• Rest of the Middle East & Africa