Animal Healthcare Market Size
With a value above USD 150.6 billion in 2022, animal healthcare market is expected to show 4.7% CAGR between 2023 and 2032. This notable market expansion is mostly related to numerous elements including the expanding pet adoption worldwide, rising meat and dairy product consumption, increasing zoonotic and foodborne disease frequency, and rising pet adoption for companionship.
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For example, WHO zoonoses explain over 60% of newly identified infectious diseases globally. Over thirty different human infections have been found in the previous thirty years; 75% of them have animal sources. Rising zoonoses in the Eastern Mediterranean Region of the WHO cause a public health concern. Emerging zoonotic illnesses have been documented from 18 of 22 countries in the previous 20 years, usually with fast outbreaks and great death rate. Therefore, the elements listed above are destined to drive the expansion of the worldwide animal healthcare market.
Animal healthcare refers to the branch of medicine concerned with the prevention, management, diagnosis, and treatment of sickness, disorder, and injury in animals. Furthermore, it is involved in animal husbandry, breeding, nutrition research, and product creation.
The lack of consistency, rising worries about consequences, and the high cost of animal diagnostics, however, could further limit the expansion of the animal healthcare sector. For example, a dogs' average routine check-up runs USD 50 to USD 250. From USD 700 to USD 1,500 veterinarian treatment—including wellness visits, dental work, blood testing, and vaccinations—can run in total. Location, kind o animal, and disease type all affect the cost of diagnosing any kind of animal.
| Report Attribute | Details |
|---|---|
| Base Year | 2022 |
| Animal Healthcare Market Size in 2022 | USD 150 Billion |
| Forecast Period | 2023 to 2032 |
| Forecast Period 2023 to 2032 CAGR | 4.5% |
| 2032 Value Projection | USD 238 Billion |
| Historical Data for | 2018 to 2022 |
| No. of Pages | 306 |
| Tables, Charts & Figures | 641 |
| Segments covered | Product, Animal Type, Distribution Channel, and Region. |
| Growth Drivers |
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| Pitfalls & Challenges |
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What are the growth opportunities in this market?
Advancements in the pet healthcare industry is anticipated to amplify the market statistics
For both humans and our animal companions, thanks to technology life has improved. Once solely accessible to humans, from medical imaging including MRIs and ultrasounds to procedures like laparoscopy, they are now assisting pets and animals too. Not to mention those digital tools either! Old-fashioned X-rays have been replaced by digital radiography, and clever dental instruments and digital dental X-rays are helping vets maintain the smiles of our dogs. Still, technology is changing things not only in clinics. Everywhere we are, new ideas abound that enable us to address health problems in our pets and prevent them.
Animal Healthcare Market Analysis
Learn more about the key segments shaping this market
Product-wise, the animal healthcare market is broken out as veterinarian services, medical equipment, and medications. By 2032, the section on veterinary services is predicted to be USD 76 billion. The various benefits veterinarian services provide in animal healthcare help to explain this great market income. Furthermore, veterinary clinics offer several services to prevent and control veterinary infectious diseases as the risk of zoonotic infections increases.
Animal type guides the segmentation of the animal healthcare market into companion animals and livestock animals. Comprising around USD 93.4 billion in 2022, the category of companion animals is expected to have a CAGR of more than 4.4% through 2032. This is so because companion animals are shown to lower blood pressure, promote psychological stability, and lessen the incidence of cardiac arrhythmias and anxiety symptoms—all of which enhance human well-being.
Three main outlets— pharmacy, internet stores, and distributors—sell the drugs made by the pharmaceutical sector. From 2023 to 2032, distributors are predicted to develop at a respectable rate of 3.8% annually. This expansion is much influenced by veterinary distributors. They market goods from animal health companies to veterinarians. Many times, these distributors include sales teams of their own that assist vets in learning about new goods and services. Things like whether a product needs to be prescribed by a veterinarian can influence its distribution method. Certain items can be sold straight to consumers at pet supply stores.
Learn more about the key segments shaping this market
Due to a range of clear policies taken by government animal welfare groups, who are always striving to improve general animal health, North America animal healthcare market accounted for 39.4% revenue share in 2022. Moreover predicted to fuel market growth in the region are technology developments, growing zoonotic disease prevalence, and more pet owners. Demand in this area is expected to be much larger driven by several cooperative initiatives by big companies to enhance their R&D capacities and guarantee high-quality standards. Moreover, the great illness load in this area can help to explain most of the share.
Animal Healthcare Market Share
Some of the major market players operating in the animal healthcare industry are
- Boehringer Ingelheim International GmbH
- Ceva Sante Animal
- Dechra Pharmaceuticals
- Elanco Animal Health
- Merck & Co
- Symrise
These market players concentrate on strategic developments such as partnerships, new product launch & commercialization, vertical integration for business expansion. Furthermore, these players are heavily investing in R&D activities that enables them to innovate & capitalize on these products that further helps to garner maximum revenue in the market.
Impact of COVID-19 Pandemic
"Hey there! So, the COVID-19 pandemic really shook things up for the veterinary medicine world. Lockdowns closed factories that make meds for animals, countries started restricting exports, and everyone needed COVID-19 treatments more than ever. That led to big shortages of medicine for our furry friends. Governments stepped in and said, "Whoa, we need to do something!" They started taking steps to reduce the shortage. And the CDC even gave vets some advice in July 2020 on how to care for pets with COVID-19. It was a rollercoaster, but the pandemic actually had a big impact on how we use and produce veterinary meds. Farmers and pet owners had trouble getting the stuff they needed. But now, things are starting to get back to normal. We're seeing demand for veterinary medicines go back up to pre-pandemic levels. And experts predict that the market for these meds is going to grow like crazy in the near future."
Animal healthcare market research report includes an in-depth coverage of the industry with estimates & forecast in terms of revenue in USD from 2018 to 2032, for the following segments
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By Product
- Pharmaceuticals
- Drugs
- Antiparasitic
- Anti-inflammatory
- Anti-infectives
- Others
- Vaccines
- Modified Live Vaccines (MLV)
- Killed Inactivated Vaccines
- Others
- Medicated Feed Additives
- Antibiotics
- Vitamins
- Amino acids
- Enzymes
- Antioxidants
- Prebiotics and probiotics
- Minerals
- Others
- Drugs
- Medical Devices
- Veterinary Diagnostic Equipment
- Veterinary Anesthesia Equipment
- Veterinary Patient Monitoring Equipment
- Veterinary Surgical Equipment
- Veterinary Consumables
- Others
- Veterinary Services
By Animal Type
- Livestock Animals
- Poultry
- Swine
- Cattle
- Fish
- Others
- Companion Animals
- Dogs
- Cats
- Horses
- Others
By Distribution Channel
- Pharmacies
- Online
- Distributors
The above in production is provided for the following regions and countries
- North America
- U.S.
- Canada
- Europe
- Germany
- UK
- France
- Spain
- Italy
- Poland
- The Netherlands
- Asia Pacific
- Japan
- China
- India
- South Korea
- Australia
- Taiwan
- Latin America
- Brazil
- Mexico
- Argentina
- Middle East & Africa
- South Africa
- GCC Countries
- Israel
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