Animal Health Global Market Size, Share, By Product, By Animal Type, By Distribution Channel, By End User, By Region And Segment Forecasts, 2024-2033 | Zoetis Inc., Heska Corporation, Vetoquinol SA, Virbac, Bayer AG, Novartis AG

Overview and Scope
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 are used for sustaining the healthy development of animals.

Sizing and Forecast
The animal health market size has grown strongly in recent years. It will grow from $50.99 billion in 2023 to $55.73 billion in 2024 at a compound annual growth rate (CAGR) of 9.3%. 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 $76.07 billion in 2028 at a compound annual growth rate (CAGR) of 8.1%. 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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Segmentation & Regional Insights
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

North America was the largest region in the animal health market in 2023. 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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Major Driver Impacting Market Growth
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, according to World Health Organization, a Switzerland-based specialized agency of the United Nations, in Africa, there was an increase of 63% in the number of zoonotic outbreaks from 2012-2022 as compared to last decade. Zoonotic diseases cause 2.5 billion cases of human illness and 2.7 million human deaths every year globally. Therefore, the increasing prevalence of zoonotic diseases will propel the animal health market.

Key Industry Players
Major companies operating in the animal health market are innovating new products, such as lactate scout vet, to gain a competitive edge in the market. Lactate Scout vet is a point-of-care lactate analyzer that improves animal health by providing fast and accurate lactate measurements. For instance, in December 2022, EKF Diagnostics, a UK-based healthcare company, launched Lactate Scout Vet. Lactate Scout Vet is designed for the needs of veterinarians and animal welfare professionals and provides accurate lactate measurements within 10 seconds. This device has the feature of an e-paper display to enhance the readability of the results. Lactate scout vet is used for dogs, horses, pigs, and cattle as veterinary medicine to aid in the prognosis and diagnosis of a variety of animal health conditions, such as shock, severe sepsis, low cardiac output, liver failure, poisoning, and drug therapy.

The animal health market report table of contents includes:
1. Executive Summary