What Does the Historical and Current Animal Health Market Size Trend Indicate?
The animal health market has seen considerable growth due to a variety of factors.
• In recent times, significant growth has been observed in the size of the animal health market. The market, which had a value of $55.26 billion in 2024, is forecasted to expand to $59.91 billion in 2025, with a compound annual growth rate (CAGR) of 8.4%. The growth observed during the historic period was primarily owing to factors such as the globalization of food supply chains, increased intensity of livestock farming, a rise in zoonotic diseases, compliance with regulations and standards, and focus on preventive healthcare.
What Is the Forecasted Market Size and Growth Rate for The Animal Health Market?
The Animal Health market is expected to maintain its strong growth trajectory in upcoming years.
• Over the following years, a substantial increase in the size of the animal health market is projected. It is predicted to expand to $82.04 billion by 2029, showing a compound annual growth rate (CAGR) of 8.2%.
The surge during the forecast period can be credited to an emphasis on aquatic animal health, integrated health approach, global endeavors in disease surveillance, wider reach of pet insurance, emergency readiness in animal agriculture, and the internationalization of animal health products. Key trends for the forecast period involve the assimilation of technology in diagnostics, advancements in biotechnology and genomics, uptake of telehealth services, digitization of supply chain and distribution networks, and combined research efforts.
What Factors Are Driving Growth In The Animal Health Market?
The upward trend in zoonotic diseases will bolster the expansion of the animal health market. These diseases can be described as infectious illnesses transferable between various animal species and humans, or vice versa. The application of diverse methods to monitor and secure animal health is instrumental in controlling zoonosis, thereby defending public health. For example, data from the US-based National Library of Medicine in June 2023 indicated that zoonotic diseases accounted for about 2.5 billion human infections worldwide and approximately 2.7 million fatalities annually. As such, the escalating incidence of zoonotic diseases will drive the growth of the animal health market.
What Are The Main Segments Of The Global Animal Health Market?
The animal health market covered in this report is segmented –
1) By Product: Vaccines, Pharmaceuticals, Medicinal Feed Additives, Diagnostics , Equipment And Disposables, Other Products
2) By Animal Type: Commercial, Companion
3) By Route Of Administration: Oral, Parenteral, Topical
4) By End-User: Veterinary Hospitals And Clinics, Animal Care And Rehabilitation Centers, Diagnostic Centers
Subsegments:
1) By Vaccines: Live Attenuated Vaccines, Inactivated Vaccines, Recombinant Vaccines, DNA Vaccines
2) By Pharmaceuticals: Anti-Infective Agents, Anti-Inflammatory Drugs, Parasiticides, Pain Management Medications
3) By Medicinal Feed Additives: Probiotics, Prebiotics, Antimicrobials, Enzymes
4) By Diagnostics: Laboratory Diagnostic Tests, Point-Of-Care Testing Devices, Imaging Equipment
5) By Equipment And Disposables: Surgical Instruments, Monitoring Devices, Disposable Syringes And Needles
6) By Other Products: Nutraceuticals, Supplements, Herbal Medicines
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What Emerging Trends Are Influencing The Growth Of The Animal Health Market?
Key innovations in technology are becoming a significant trend in the animal health market. Prominent market participants are focusing on introducing groundbreaking technologies to solidify their market positions. For example, in April 2022, the US-based Elanco Animal Health Incorporated and Ginkgo Bioworks, engaged in biotechnology, unveiled innovative solutions. Further, in October 2022, Merck Animal Health, another US-based enterprise that produces, manufactures, and sells a wide array of veterinary medicines and services introduced the Animo GPS. This product, an activity and behavior tracker for dogs, includes GPS tracking capacity. It offers real-time tracking and updates every five seconds during 'Lost Dog Mode.' It could alert pet owners in 20 seconds if their pet leaves the designated 'Safe Zone.' Animo GPS uses intelligent technology to track a pet's specific activity and behavior, which can be monitored via a user-friendly mobile application. The device captures data on barking, scratching, shaking, and sleeping duration. In case of substantial variations in these behaviors, the adaptive algorithm of the device analyzes this data and issues an alert through the application.
Who Are the Key Players In The Animal Health Market?
Major companies operating in the animal health market include:
• Elanco Animal Health Incorporated
• Merck Animal Health
• Boehringer Ingelheim International GmbH
• Heska Corporation
• Vetoquinol SA
• Virbac
• Bayer AG
• Novartis AG
• Biogenesis Bago
• Intervet International BV
• IDEXX Laboratories Inc.
• Hester Biosciences Ltd.
• Intas Pharmaceutucals Ltd.
• Dechra Pharmaceuticals
• Kindred Biosciences
• Phibro Animal Health Corporation
• Neogen Corporation
• Norbrook Laboratories
• Huvepharma EOOD
• Abaxis Inc.
• ECO Animal Health Group
• Hipra
• Zoetis Inc.
• Kemin Industries
• DeLaval
• Troy Laboratories
• Parnell Pharmaceuticals
• Ceva Sante Animale
• Bimeda Inc.
• Animalcare Group
• PetIQ
• AdvaVet Inc.
What Is The Most Dominant Region In The Animal Health Market?
North America was the largest region in the animal health market in 2024. The regions covered in the animal health market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
