According to the report by Expert Market Research (EMR), the global animal health market size is projected to grow at a CAGR of 6.4% between 2024 and 2032. Aided by the increasing focus on animal welfare, rising demand for animal-derived products, and advancements in veterinary care., the market is expected to grow significantly by 2032.
Animal health involves a wide array of products and services aimed at maintaining and improving the health of animals. It encompasses pharmaceuticals, vaccines, feed additives, and diagnostic services, catering to various animals including companion animals (pets), livestock, and other animal species.
The global animal health market growth is largely attributed to the rising awareness and concern for the health and well-being of animals. As the bond between humans and animals strengthens, especially with pets, there is a growing demand for advanced veterinary care and products to ensure their health and longevity.
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The livestock sector also plays a significant role in propelling the market. With the global increase in consumption of animal-derived products like meat, milk, and eggs, there is an escalating demand for animal health products to ensure the health and productivity of livestock. As per the animal health market analysis, this demand is crucial for preventing diseases that can impact both animals and humans, thereby ensuring food safety and security.
Advancements in veterinary medicine and technology are major driving factors for the market. Innovations in vaccines, pharmaceuticals, and diagnostic tools have revolutionised animal healthcare, leading to more effective treatment and prevention of a wide range of animal diseases.
Moreover, the rise in zoonotic diseases, which are transmitted from animals to humans, has highlighted the importance of animal health, further contributing to the animal health market size. This has led to increased investments in research and development for new vaccines and therapeutics.
The market also benefits from the increasing government initiatives and regulations focusing on animal health and welfare. These initiatives promote responsible use of antibiotics, vaccinations, and other health products, thereby supporting market growth. With ongoing research and development, coupled with supportive government initiatives, the future of the animal health market looks promising, aiming for a healthier and more productive animal population worldwide.
Animal Health Market Segmentation
The market can be divided based on animal type, product type, end use, and region.
Market Breakup by Animal Type
- Commercial Animals
- Poultry
- Swine
- Cattle
- Sheep and Goat
- Others
- Companion Animals
- Dogs
- Cats
- Others
Market Breakup by Product Type
- Vaccines
- Pharmaceuticals
- Feed Additives
- Diagnostics
- Others
Market Breakup by End Use
- Veterinary Hospitals and Clinics
- Animal Care and Rehabilitation Centres
- Diagnostics Centres
- Others
Market Breakup by Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
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Competitive Landscape of Animal Health Market
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the global animal health market. Some of the major players explored in the report by Expert Market Research are as follows:
- Elanco Animal Health Incorporated
- Merck Animal Health
- Zoetis Inc.
- Biogenesis Bago
- Boehringer Ingelheim International GmbH
- Ceva Sante Animale
- Heska Corporation
- IDEXX Laboratories, Inc.
- Virbac S.A.
- Vetoquinol SA
- Others
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