Animal Drugs Market Size
Animal Drugs Market size crossed USD 35 billion in 2022 and is projected to expand at a 5.4% CAGR from 2023-2032.
Rising obesity rates in companion animals will influence the dynamics of animal pharmaceuticals sector. Pet owners and in animal care are mostly concerned about obesity since it lowers quality of life, shortens life span, and increases the risk of diabetes mellitus and osteoarthritis.
To get key market trends
Rising rates of animal obesity mean that demand for animal medications is expected to pick up speed in not too distant future. According to Veterinary Centers of America (VCA) statistics, 40%–45% of dogs between the ages of 5–11 weigh more than the optimum body mass index (BMI), while 25% to 30% of the overall canine population in the United States is obese.
| Report Attribute | Details |
|---|---|
| Base Year | 2022 |
| Animal Drugs Market Size in 2022 | USD 35 Billion |
| Forecast Period | 2023 to 2032 |
| Forecast Period 2023 to 2032 CAGR | 5.4% |
| 2032 Value Projection | USD 59.5 Billion |
| Historical Data for | 2018 to 2022 |
| No. of Pages | 344 |
| Tables, Charts & Figures | 588 |
| Segments covered | Product, Animal Type, Route of Administration, Distribution Channel and Region. |
| Growth Drivers |
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| Pitfalls & Challenges |
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What are the growth opportunities in this market?
High cost of animal drugs to hamper industry progress
Veterinary medications are sometimes costly and entail more treatment and service expenses. According to a recent poll, preventative canine health care—including the expense of parasite prevention, vaccinations, and other basics—is thought to be annually spent in the United States between USD 220–700. Therefore, the great expense of these therapeutic treatments and services may reduce product demand in underdeveloped and developing areas with low socioeconomic capacity, thereby limiting general company success.
Animal Drugs Market Analysis
Learn more about the key segments shaping this market
Animal drugs market from drugs segment is expected to record over 4.5% CAGR from 2023-2032. High prevalence of veterinary diseases and obesity among livestock and companion animals will propel the demand for associated treatment and drugs. According to the 2021 article by VCA, bovine respiratory disease (BRD) accounted for nearly 80% of herd-level morbidity and approximately 50% of mortality among feedlot cattle in the U.S. These diseases being highly fatal require appropriate preventative care and treatment to limit the outbreak of diseases and loss of animal life, thus offering lucrative scope for animal drug manufacturers.
Animal drugs market share from livestock animals accounted for more than USD 22 billion in 2022. Growing demand for animal-based protein for human consumption has led to a rise in awareness regarding livestock health. Furthermore, the high risk of zoonotic diseases such as bovine diarrhea virus, anthrax, campylobacter, and swine fever virus represents the robust need for preventative care for animals. For instance, in 2020, the prevalence of classical swine fever in Japan stood at 48% in pig farms and 20% in boar farms. Hence increasing focus on maintaining animal health and livestock quality will propel the need for animal drugs among livestock farmers.
Animal drugs market valuation from the topical route of administration is estimated to surpass USD 10.2 billion by 2032. Topical drugs are applied to the skin of animals and pets to treat a spectrum of veterinary illnesses. Drug delivery via topical route offers a myriad of benefits starting with better and faster recovery, followed by easy administration, and cost-effectiveness, along with improved therapeutic results. This form of drug application plays a crucial role in animal husbandry, allowing producers to deal with bacterial and yeast overgrowth or SIBO, allergic dermatitis, and other undesired conditions.
Learn more about the key segments shaping this market
From veterinary clinics segment, the size of animal pharmaceuticals market is expected to show a 5.5% CAGR over 2023–2032. Fast corporatization of veterinary clinics in recent years has enabled big chains of clinics all around to improve animal access to high-quality healthcare. Furthermore, an increase in veterinary clinic investment is giving pet owners access to modern treatments. For example, Boston Veterinary Clinic (BVC) said intentions to open two new primary care veterinary clinics in Greater Boston after acquiring a Series A minority investment from Denali Growth Partners. Like investments and expansions will help animal medications to spread widely.
Looking for region specific data?
By 2032 North America's animal medication market is expected to reach USD 21 billion. The area boasts a large veterinary industry with rising pet adoption rates, high pet care costs, and zoonotic disease incidence rising. The 2021–22 National Pet Owners Survey by American Pet Products Association (APPA) shows that, at 70% of homes in the United States, around 90.5 million families own a pet. For animal medicine producers, high disposable income and rising trend toward pet adoption in wealthy nations like the United States offer great business opportunities.
Animal Drugs Market Share
Some of the leading companies in the global animal drugs market include
- Elanco Animal Ceva Sante Animale
- Boehringer Ingelheim International GmbH
- Dechra Pharmaceuticals Ltd
- Durvet, Inc
- Merck & Co., Inc
- Neogen Corporation, Inc
- Virbac S.A
- Vetoquinol SA
- Zoetis, Inc
To spur creativity, these businesses are emphasizing strategic alliances, deals, and joint ventures. For example, Elanco Animal Health started BiomEdit, a microbiome innovation company in association with Gingko Bioworks, in April 2022 to support the development, design, and release of fresh goods.
COVID-19 Impact
The start of COVID-19 epidemic has a bad effect on the world economy. During the first phase, the epidemic produced extremely severe lockdown rules that caused several veterinary companies all around to close. This also had a bad impact on the post- epidemic pet ownership rate. Nonetheless, the increased demand for companionship is expected to have a favorable impact on market developments as numerous nations are seeing a noteworthy increase in pet adoption. Moreover, numerous governments are enabling manufacturers of animal medicine by means of encouraging projects. For example, the EU adopted the Veterinary Medicinal Products Regulation in January 2022, therefore introducing fresh policies meant to increase creativity in premium veterinary medications.
The industry with estimations and projection in terms of revenue in USD Million from 2018 to 2032 is thoroughly covered in-depth in the animal medicines market research report for the following segments
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By Product
- 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
By Animal Type
- Livestock animals
- Poultry
- Swine
- Cattle
- Fish
- Others
- Companion animals
- Dogs
- Cats
- Horses
- Others
By Route of Administration
- Oral
- Injectable
- Topical
- Others
By Distribution Channel
- Veterinary hospitals
- Veterinary clinics
- Pharmacy and drug stores
- E-commerce
The above information is provided for the following regions and countries
- North America
- U.S.
- Canada
- Europe
- Germany
- UK
- France
- Spain
- Italy
- Poland
- The Netherlands
- Asia Pacific
- China
- Japan
- India
- Australia
- South Korea
- Taiwan
- Latin America
- Brazil
- Mexico
- Argentina
- Middle East & Africa
- South Africa
- GCC Countries
- Israel
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