The Business Research Company’s report on the Animal Health Market provides insights into the global market size, growth rate, regional distribution, competitive landscape, key segments, emerging trends, and strategic opportunities.
What are the primary drivers fueling the growth of the animal health market in recent years?
The increasing prevalence of zoonotic diseases will support the growth of the animal health market going forward. Zoonotic diseases can be defined as infectious diseases that can be transmitted between different animal species to humans or from humans to animals. Monitoring and safeguarding animal health using different methods helps in controlling zoonosis and can help in protecting public health. For instance, in June 2023, according to the National Library of Medicine, a US-based National Library of Medicine, operated by the United States federal government, zoonotic diseases are responsible for 2.5 billion human cases globally and approximately 2.7 million deaths annually. Therefore, the increasing prevalence of zoonotic diseases will propel the animal health market.
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What is the projected market size of the animal health industry, and how is it expected to grow?
The animal health market size has grown strongly in recent years. It will grow from $55.26 billion in 2024 to $59.91 billion in 2025 at a compound annual growth rate (CAGR) of 8.4%. The growth in the historic period can be attributed to globalization of food supply chains, intensification of livestock farming, increase in zoonotic diseases, regulatory compliance and standards, preventive healthcare emphasis.
The animal health market size is expected to see strong growth in the next few years. It will grow to $82.04 billion in 2029 at a compound annual growth rate (CAGR) of 8.2%. The growth in the forecast period can be attributed to focus on aquaculture health, one health approach, global efforts in disease surveillance, expansion of pet insurance, crisis preparedness in animal agriculture, globalization of animal health products. Major trends in the forecast period include technological integration in diagnostics, biotechnology and genomics, adoption of telehealth services, digitalization of supply chain and distribution, collaborative research initiatives.
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Who are the key players driving competition 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 key trends are expected to drive the animal feed testing service market during the forecast period?
Technological advancements are the key trends gaining popularity in the animal health market. Major market players are concentrating their efforts on introducing new and advanced technologies to strengthen their position in the market. For instance, in April 2022, Elanco Animal Health Incorporated, a US-based animal health company, and Ginkgo Bioworks, a US-based biotechnology company, launched October 2022, Merck Animal Health, a US-based company that develops, manufactures, and markets a broad range of veterinary medicines and services launched Animo GPS, an activity and behavior monitor for dogs with GPS tracking capabilities. The product enables real-time tracking with position updates starting every five seconds when in ‘Lost Dog Mode’ and may notify pet owners within 20 seconds if their dog exits its assigned ‘Safe Zone. Smart technology is used by Animo GPS to track a dog’s individual activity levels and behavior within an intuitive mobile app. Data on barking, scratching, shaking, and sleep duration are all recorded by the device. If there are any major changes in these behaviors, it can utilize an adaptive algorithm to analyze this information and issue an alert via the app.
Which key geographies are driving the growth of 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
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What are the key segments driving growth in the 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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How is the animal health market defined?
Animal health is defined as a term that covers animal diseases and the relationship between animal welfare, environment protection, human health, and food safety. Animal health is used for sustaining the healthy development of animals.
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