Global Animal Healthcare Market

Animal Healthcare Market: Overview

According to Custom Market Insights (CMI), The Global Animal Healthcare Market  Size was valued at USD 44.76 billion in 2021 and is expected to reach USD 67.12 billion in 2022 and is estimated to reach USD 94.8 billion by the end of 2030 at a CAGR of approximately 10.7% during the forecast period 2022-2030.

The rapid increase in the demand for various food products and protein in the global market has boosted the need for a better animal healthcare system. The increasing number of diseases prevalent among animals has encouraged the key market players to introduce modern medicines into the market for treating animals. The pharmaceutical sector has introduced various vaccinations to prevent several animal diseases. Several industries have taken multiple steps to prevent infection among animals by controlling the pathogens and risk of food-borne illnesses. The outbreak of the pandemic had a considerable impact on the animal healthcare system. Steady growth was noticed during the course of the pandemic.

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Animal Healthcare Market: Growth Drivers

The rapidly increasing demand for various animal products among people has boosted the market for animal healthcare to a great extent. The vast number of benefits obtained from animal products have also made people aware of them, and hence a considerable demand is experienced in the market. In addition, the rapidly increasing number of animal diseases has boosted the need for better healthcare facilities to prevent the spread of diseases in society.

The increasing number of research and development programs carried out by the key market players to introduce modern medicines that have a better effect on the health of the animals with minimum side effects has boosted the animal healthcare market economy. These multiple reasons have emerged as the driving forces for the growth of the animal healthcare market during the forecast period.

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Animal Healthcare Market: Regional Analysis

The region of North America has emerged as the largest market for animal healthcare due to the extensive use of modern technology for various services and diagnoses, which helps the physician decide on a suitable line of treatment with modern medicines. In addition, increasing demand for technological advancement and advanced therapies for animal healthcare has boosted the economy for animal healthcare to a great extent.

The key market players in this region have also emerged as major growth factors for the animal healthcare market. Various research and development programs which are carried out in this region with the help of the initiatives taken up by the government have boosted the demand for animal healthcare systems. In addition, many other animal benefits and services emerge as significant growth factors for this market.

The geographical region of Asia Pacific has emerged as a significant market for the animal healthcare system growth due to the rapid advancements in medicine. The vast number of people who have adopted pets in this region has also boosted the economy of the animal healthcare market to a greater extent. In addition, the various therapies which are carried out in this region by using animals have increased the healthcare system to a great time.

Animal Healthcare Market: Recent Developments

• Bayer has taken over Elanco limited, aiming to develop the distribution channel of the numerous materials manufactured by the company. This acquisition has enabled pharmaceutical products to produce more turnover over the period.
• In April 2021 – Hester Biosciences manufactured various herbal veterinary products in the market.

Key Players:

• Merck Animal Health
• Vetoquinol S.A.
• Zoetis
• Ceva Santé Animale
• BoehringerIngelheim GmbH
• IDEXX
• Heska Corporation
• Virbac
• Elanco
• B.Braun Vet Care
• Televet
• Mars Inc.
• Covetrus
• DRE Veterinary
• Phibro Animal Health Corporation
• Dechra Pharmaceuticals PLC
• Thermo Fisher Scientific Inc.
• IDVet
• Bimeda Inc.
• Midmark Corporation

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The global Animal Healthcare market is segmented as follows:

By Animal Type

• Companion animal
• Production animal

By Product

• Pharmaceuticals
• Vaccines
• Medical feed additives
• Equipment and disposables
• Diagnostics
• Others

By Distribution Channel

• Ecommerce
• Retail
• Veterinary hospitals and clinics

By End User

• Reference laboratories
• Veterinary hospitals and clinics
• Point of care testing
• Others

On the basis of Geography

North America

• The U.S.
• Canada
• Mexico

Europe

• France
• The UK
• Spain
• Germany
• Italy
• Rest of Europe

Asia Pacific

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

The Middle East & Africa

• Saudi Arabia
• UAE
• Egypt
• Kuwait
• South Africa
• Rest of the Middle East & Africa

Latin America

• Brazil
• Argentina
• Rest of Latin America

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