Animal Healthcare Market By Product Type (Pharmaceuticals, Feed Additives), Distribution Channel (Veterinary Clinics, Retail Pharmacies), Disease Type (Infectious Diseases, Parasitic Diseases), & Region for 2024-2031
Report ID: 30379|No. of Pages: 202
Animal Healthcare Market By Product Type (Pharmaceuticals, Feed Additives), Distribution Channel (Veterinary Clinics, Retail Pharmacies), Disease Type (Infectious Diseases, Parasitic Diseases), & Region for 2024-2031
Animal Healthcare Market Valuation – 2024-2031
Increasing numbers of pet owners are willing to spend more on healthcare and wellness for their animals is propelling the growth of animal healthcare market. The rising need for quality meat, milk, and eggs drives investment in animal health to ensure livestock productivity is driving the market size surpass USD 57.27 Billion valued in 2024 to reach a valuation of around USD 107.57 Billion by 2031.
In addition to this, Innovations in veterinary medicine and diagnostics improve treatment options and outcomes for animals. Growing availability of veterinary clinics and telehealth services increases access to animal healthcare is enabling the market to grow at a CAGR of 8.2% from 2024 to 2031.
Animal Healthcare Market: Definition/ Overview
Animal healthcare refers to the branch of veterinary medicine focused on maintaining and improving the health and well-being of animals. This includes the prevention, diagnosis, and treatment of diseases, as well as the management of animal welfare. Services in this field encompass a range of practices, including vaccinations, surgeries, diagnostic testing, and emergency care, aimed at ensuring the overall health of pets, livestock, and wildlife.
The applications of animal healthcare are vast and cover various sectors. In companion animal care, veterinarians provide essential services for pets, helping to prevent diseases and treat medical conditions. In agriculture, animal healthcare is crucial for maintaining the health of livestock, which directly impacts food production and agricultural economics. Additionally, wildlife healthcare plays a role in conservation efforts, addressing the health needs of endangered species and managing zoonotic diseases that can affect humans.
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How will Rising Pet Ownership and Humanization of Pets Driving Market Growth of Animal Healthcare?
The rising pet ownership and humanization of pets is emerging as a primary driver of the animal healthcare market, transforming how people invest in their pets’ well-being. According to the American Pet Products Association, U.S. pet industry expenditure reached USD 136.8 Billion in 2023, with healthcare representing a significant portion. Zoetis, a leading market player, recently launched an innovative AI-powered diagnostic platform in March 2024 for early disease detection in companion animals. The growing trend of considering pets as family members has led to increased spending on preventive healthcare, regular veterinary visits, and advanced medical treatments, while insurance coverage for pets continues to expand across developed markets.
The surge in livestock production to meet global food demand has intensified focus on animal health and disease prevention. The World Organization for Animal Health reported that investments in livestock health increased by 45% between 2020 and 2023 globally. Merck Animal Health’s recent introduction of a revolutionary vaccine technology for cattle respiratory diseases in February 2024 demonstrates the industry’s commitment to innovation. The growing awareness of zoonotic diseases and their potential impact on human health has heightened the importance of animal healthcare, while sustainable farming practices have created new opportunities for health management solutions.
Technological advancements in veterinary diagnostics and treatment options have revolutionized animal healthcare delivery. The U.S. Department of Agriculture statistics showed that the adoption of digital health technologies in veterinary practices increased by 70% since 2021. Boehringer Ingelheim’s launch of their integrated digital health platform for livestock monitoring in January 2024 marks a significant step toward precision animal healthcare. The integration of artificial intelligence, telemedicine, and advanced diagnostic tools has improved treatment outcomes and efficiency, while the development of specialized medications and therapies continues to expand the market’s scope.
Will Shortage of Veterinary Professionals Restraining Animal Healthcare Market Growth?
One significant restraint in the animal healthcare market is the high cost of veterinary services and treatments. Pet owners and livestock farmers may be deterred by expensive medical procedures, vaccines, and preventive care. This financial barrier can lead to delayed treatment or inadequate healthcare, affecting the overall health and well-being of animals. In developing regions, where resources are limited, this challenge is even more pronounced.
Another constraint is the shortage of veterinary professionals in many areas. The growing demand for animal healthcare services often outpaces the supply of qualified veterinarians and technicians. This workforce gap can lead to longer wait times for appointments, reduced access to care, and increased pressure on existing practitioners, ultimately impacting the quality of service provided to animals.
Furthermore, public awareness and understanding of animal healthcare can vary widely, leading to inconsistent preventive care practices among pet owners and farmers. Some individuals may not recognize the importance of regular check-ups or vaccinations, resulting in increased incidence of preventable diseases. This lack of awareness can impede the overall effectiveness of animal healthcare initiatives and programs.
Category-Wise Acumens
Which Factors Contributing Pharmaceuticals Segment Dominance in Animal Healthcare Market?
The pharmaceuticals segment maintains its dominance in the animal healthcare market through continuous innovation in drug development and disease prevention. The FDA Center for Veterinary Medicine reported that pharmaceutical approvals for animal health products increased by 55% in 2023 compared to the previous year. Zoetis recently announced a breakthrough in their dermatological treatment line with a novel monoclonal antibody therapy for dogs in March 2024. The growing demand for specialized medications, particularly for chronic conditions in companion animals, has driven substantial investment in research and development, while the rise in pet insurance coverage has made advanced pharmaceutical treatments more accessible to pet owners.
Livestock pharmaceuticals have experienced significant growth due to increasing focus on food safety and animal welfare. The USDA’s National Animal Health Monitoring System reported that pharmaceutical interventions in livestock reduced disease outbreaks by 65% between 2020 and 2023. Merck Animal Health’s launch of their next-generation antibiotic alternative for poultry in February 2024 demonstrates the industry’s shift toward sustainable solutions. The development of novel drug delivery systems and targeted therapies has improved treatment efficacy and reduced antibiotic usage, while stricter regulations on food animal production have spur preventive medications.
Which Factors Contributing Veterinary Clinics Segment Dominance in Animal Healthcare Market?
The veterinary clinics segment continues to dominate the animal healthcare market through expansion of services and technological integration. The American Veterinary Medical Association reported that veterinary clinic visits increased by 63% between 2021 and 2023, driven by growing pet ownership. Mars Veterinary Health recently announced a USD 2 Billion investment in expanding their network of clinics and implementing advanced diagnostic technologies across North America in early 2024. The adoption of state-of-the-art medical equipment and specialized treatment options has elevated the standard of care available at clinics, while the integration of telemedicine services has improved accessibility and follow-up care capabilities.
Emergency and specialty veterinary services have emerged as a significant growth driver within the clinic segment. According to the U.S. Bureau of Labor Statistics, employment in veterinary specialty practices grew by 85% from 2020 to 2023. National Veterinary Associates expanded their emergency care network in February 2024, adding 50 new specialized trauma centers across major metropolitan areas. The increasing demand for advanced surgical procedures, oncology treatments, and rehabilitation services has led to the development of specialized facilities, while 24/7 emergency care availability has become a standard expectation in urban markets.
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Country/Region-wise Acumens
Will Strong Presence of Leading Pharmaceutical Companies in North America Fuel Animal Healthcare Market Growth?
North America’s dominance in the animal healthcare market is driven by high pet ownership rates and sophisticated veterinary infrastructure. The U.S. Bureau of Labor Statistics reported that veterinary services revenue reached USD 52.3 Billion in 2023, marking a significant milestone in market growth. Zoetis recently established a new USD 200 Million research and development center in Boston, focusing on breakthrough therapies for companion animals in March 2024. The region’s advanced healthcare delivery systems and high disposable income levels have supported increased spending on pet healthcare, while growing awareness of preventive care has led to more regular veterinary visits and early intervention treatments.
The strong presence of leading pharmaceutical companies and research institutions has fostered continuous innovation in animal health products. According to the FDA’s Center for Veterinary Medicine, North America accounted for 65% of global veterinary drug approvals in 2023. Merck Animal Health’s launch of their revolutionary digital health monitoring platform for livestock in February 2024 demonstrates the region’s technological leadership. The robust regulatory framework and substantial investment in research and development have accelerated the introduction of new treatments and diagnostics, while partnerships between industry leaders and academic institutions continue to drive scientific advancement.
Will Livestock Sector’s Modernization Enhance Adoption of Animal Healthcare in Asia Pacific?
The Asia Pacific animal healthcare market is experiencing rapid growth, driven by increasing pet adoption rates and rising disposable incomes. According to China’s National Bureau of Statistics, pet-related healthcare spending grew by 82% between 2021 and 2023. Zoetis recently announced a $300 million investment in expanding their manufacturing facilities across China and India in March 2024. The region’s growing middle class has fueled increased spending on pet healthcare services and products, while urbanization has led to higher pet ownership rates and greater awareness of animal health needs, particularly in countries like Japan, South Korea, and China.
The livestock sector’s modernization has significantly contributed to market expansion in the Asia Pacific region. The Indian Council of Agricultural Research reported that investments in livestock health technologies increased by 95% from 2020 to 2023. Boehringer Ingelheim’s launch of their advanced vaccine production facility in Singapore in February 2024 demonstrates the region’s growing importance in the global animal health industry. The adoption of modern farming practices and increased focus on food safety has driven demand for advanced animal health products, while government initiatives supporting livestock development have created new opportunities for market growth.
Competitive Landscape
The animal healthcare market is a dynamic and competitive space, characterized by a diverse range of players vying for market share. These players are on the run for solidifying their presence through the adoption of strategic plans such as collaborations, mergers, acquisitions, and political support.
The organizations are focusing on innovating their product line to serve the vast population in diverse regions. Some of the prominent players operating in the animal healthcare market include:
- Zoetis
- Merck Animal Health
- Boehringer Ingelheim
- Elanco Animal Health
- Ceva Santé Animale
- Virbac
- Merial (part of Boehringer Ingelheim)
- Heska Corporation
- Vetoquinol
- Dechra Pharmaceuticals
- Phibro Animal Health Corporation
- Neogen Corporation
- BASF
- Cargill Animal Nutrition
- Alltech
- IDEXX Laboratories
- Bayer Animal Health (part of Bayer AG)
- VetGen
- Animal Health International
- MediVet
Latest Developments
- In October 2023, Zoetis announced the launch of a new vaccine for canine parvovirus, aiming to improve preventative care in veterinary practices and enhance pet health outcomes.
- In September 2023, Merck Animal Health expanded its portfolio by acquiring a biotechnology company specializing in diagnostics for livestock diseases, reinforcing its commitment to animal health innovation.
Report Scope
| REPORT ATTRIBUTES | DETAILS |
|---|---|
| Study Period | 2021-2031 |
| Growth Rate | CAGR of ~8.2% from 2024 to 2031 |
| Base Year for Valuation | 2024 |
| Historical Period | 2021-2023 |
| Forecast Period | 2024-2031 |
| Quantitative Units | Value in USD Billion |
| Report Coverage | Historical and Forecast Revenue Forecast, Historical and Forecast Volume, Growth Factors, Trends, Competitive Landscape, Key Players, Segmentation Analysis |
| Segments Covered |
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| Regions Covered |
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| Key Players | Zoetis, Merck Animal Health, Boehringer Ingelheim, Elanco Animal Health, Ceva Santé Animale, Virbac, Merial (part of Boehringer Ingelheim), Heska Corporation, Vetoquinol, Dechra Pharmaceuticals, Phibro Animal Health Corporation, Neogen Corporation, BASF, Cargill Animal Nutrition, Alltech, IDEXX Laboratories, Bayer Animal Health (part of Bayer AG), VetGen, Animal Health International, MediVet |
| Customization | Report customization along with purchase available upon request |
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• Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled
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Frequently Asked Questions
1. Introduction
• Market Definition
• Market Segmentation
• Research Methodology
2. Executive Summary
• Key Findings
• Market Overview
• Market Highlights
3. Market Overview
• Market Size and Growth Potential
• Market Trends
• Market Drivers
• Market Restraints
• Market Opportunities
• Porter’s Five Forces Analysis
4. Animal Healthcare Market, By Product Type
• Pharmaceuticals
• Feed Additives
• Medical Devices
• Vaccines
5. Animal Healthcare Market, By Distribution Channel
• Veterinary Clinics
• Retail Pharmacies
• Online Platforms
• Pet Specialty Stores
• Direct Procurement
6. Animal Healthcare Market, By Disease Type
• Infectious Diseases
• Parasitic Diseases
• Chronic Diseases
• Nutritional Deficiencies
• Reproductive Disorders
7. Regional Analysis
• North America
• United States
• Canada
• Mexico
• Europe
• United Kingdom
• Germany
• France
• Italy
• Asia-Pacific
• China
• Japan
• India
• Australia
• Latin America
• Brazil
• Argentina
• Chile
• Middle East and Africa
• South Africa
• Saudi Arabia
• UAE
8. Market Dynamics
• Market Drivers
• Market Restraints
• Market Opportunities
• Impact of COVID-19 on the Market
9. Competitive Landscape
• Key Players
• Market Share Analysis
10. Company Profiles
• Zoetis Inc. (USA)
• Merck & Co., Inc. (USA)
• Elanco Animal Health Incorporated (USA)
• Bayer AG (Germany)
• Boehringer Ingelheim GmbH (Germany)
• Virbac S.A. (France)
• Ceva Santé Animale S.A. (France)
• IDEXX Laboratories, Inc. (USA)
• Royal Canin SAS (France)
• Hill’s Pet Nutrition, Inc. (USA)
11. Market Outlook and Opportunities
• Emerging Technologies
• Future Market Trends
• Investment Opportunities
12. Appendix
• List of Abbreviations
• Sources and References
Report Research Methodology
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Data Collection Matrix
| Perspective | Primary Research | Secondary Research |
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Econometrics and data visualization model
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We assign different weights to the above parameters. This way, we are empowered to quantify their impact on the market’s momentum. Further, it helps us in delivering the evidence related to market growth rates.
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Industry Analysis Matrix
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