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With a CAGR of 8.6% from 2023 to 2030, the animal health industry is expected to grow from its 2022 valuation of USD 35.9 billion to USD $75.09 billion. The primary focus of animal medicine is on the health of companion animals and working animals. Parasites and other diseases can be transmitted from animals to humans and, as in humans, must be diagnosed, prevented, and managed. Pharmaceutical businesses have seen significant growth prospects in responding to the rising prevalence of disease in livestock and poultry.
Despite the COVID-19 public health emergency, the market held strong because of rising pet adoption, pet humanization, and zoonoses fears. Reduced sales, supply chain or distribution interruptions, poor demand and purchase rates, and operational challenges due to changing legislation worldwide are only some of the negative repercussions of the pandemic. However, throughout the pandemic, telemedicine became increasingly popular. E-commerce and other online distribution channels have quickly become the most popular among pet owners looking to stock up on veterinary supplies and food.
Macroeconomic headwinds such as inflation, foreign currency rate changes, and geopolitical strife also affected the market in H2 2022, and their effects are projected to result in a temporarily slowed growth rate. For example, Zoetis predicted a 3% drop in revenue growth for Q1 and Q2 of 2022 and a 4% drop for Q3 of 2022. The corporation predicted a decline in revenue growth of 4% for 2022 as a whole. The fluctuation in foreign exchange rates had a negative effect on Elanco's revenue growth of 4% in H1 and 5% in Q3 of 2022. Vimian, a Swedish company, nevertheless, indicated a favourable effect on revenue growth, with projections of 2.5% in Q1, 4.9% in Q2, and 5.6% in Q3 2022.
The proper administration of medications, vaccinations, medicated animal feeds, and diagnostic tools are all part of providing quality healthcare for animals. Animals have a significant role in human society. They benefit people in many ways, including as sources of food, shelter, and friendship. Animals are also used as test subjects and research subjects in fields like genetics and pharmaceuticals. Demand for animal healthcare goods is predicted to rise as a result of rising public concern about animal health, more restrictions, and a greater emphasis on preventing epidemics that may have their origins in animals. These reasons are driving rapid expansion in the global veterinary healthcare industry. The increasing prevalence of zoonotic diseases, food-borne diseases, and the worldwide demand for protein-rich diet are the primary forces propelling the market. Increases in both market size and the use of information technology are fueling the development of the animal health industry.
The expansion of the animal health market has been affected in both positive and bad ways by the global pandemic. Governments in response to the widespread COVID infection in various countries have enacted stringent regulations on travel. Therefore, the movement limitations have reduced the availability of veterinary medicine and health care facilities. Although veterinarian consultations and checkups were needed, they were put on hold while various governments dealt with the ongoing crisis and the emergency of saving human lives. The COVID virus, on the other hand, had already transmitted to the animals. There have been multiple reports of COVID-positive instances. Market participants responded appropriately to the growing demand for COVID testing kits for animals during the second wave of the disease. In order to learn more about the causes and symptoms of COVID in animals, researchers conducted studies and collected samples from a wide range of households' pets for evaluation. Even in the midst of the pandemic, the animal health sector has been driven forward by such forces.
In terms of revenue, the production animal sector ruled the animal health market in 2022. The segment's large market share is likely attributable to the widespread interest in food safety and sustainability among government healthcare agencies around the world. Policymakers in many nations are working towards the goal of complete food security, which drives massive increases in both crop output and livestock husbandry. Long-term sustainability is a primary goal, and the policies are geared towards achieving that goal through a mix of increased output and better veterinary care for cattle.
According to the Food and Agriculture Organisation (FAO), an improvement in livestock production is crucial to meet the dietary needs of the expanding human population because animal-based food items account for one-third of human protein consumption in rising nations. Because of all of these advantages, production animals have cornered a sizable portion of this market. The desire for effective animal care and the pet-human link due to the accompanying health benefits is predicted to drive growth in the companion animal market by roughly 9% annually during the forecast period. The health of humans is improved by their companion animals because of the measurable effects they have on blood pressure, mental health, and the incidence of cardiac arrhythmias and anxiety attacks. As a result, the demand for companion animal goods is expected to increase in the next years, as is the popularity of animal-assisted treatment.
Report Coverage
Global Animal Health Market research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Animal Health Market report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Animal Health Market competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Animal Health Market market players and analyses their core competencies in each global market sub-segments.
Key Points Covered in the Report
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Animal Health Market market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Animal Health Market market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
Zoetis; Ceva Santé Animale; Merck & Co., Inc.; Vetoquinol S.A.; Boehringer Ingelheim GmbH; Elanco; Virbac; Heska; Dechra Pharmaceuticals plc; IDEXX Laboratories, Inc.
Primary Target Market
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2030. INFINITIVE DATA EXPERT has segmented the global Animal Health Market market based on the below-mentioned segments:
Global Animal Health Market Market, By Type
Farm Animal
Companion Anima
Global Animal Health Market market, By Product
Pharmaceuticals
Vaccines
Feed Additives
Global Animal Health Market Market, By End User
Veterinary Hospitals & Clinics
Animal Care & Rehabilitation Centers
Diagnostic Centers
Others
Global Animal Health Market market, Regional Analysis
Despite the COVID-19 public health emergency, the market held strong because of rising pet adoption, pet humanization, and zoonoses fears. Reduced sales, supply chain or distribution interruptions, poor demand and purchase rates, and operational challenges due to changing legislation worldwide are only some of the negative repercussions of the pandemic. However, throughout the pandemic, telemedicine became increasingly popular. E-commerce and other online distribution channels have quickly become the most popular among pet owners looking to stock up on veterinary supplies and food.
Macroeconomic headwinds such as inflation, foreign currency rate changes, and geopolitical strife also affected the market in H2 2022, and their effects are projected to result in a temporarily slowed growth rate. For example, Zoetis predicted a 3% drop in revenue growth for Q1 and Q2 of 2022 and a 4% drop for Q3 of 2022. The corporation predicted a decline in revenue growth of 4% for 2022 as a whole. The fluctuation in foreign exchange rates had a negative effect on Elanco's revenue growth of 4% in H1 and 5% in Q3 of 2022. Vimian, a Swedish company, nevertheless, indicated a favourable effect on revenue growth, with projections of 2.5% in Q1, 4.9% in Q2, and 5.6% in Q3 2022.
The proper administration of medications, vaccinations, medicated animal feeds, and diagnostic tools are all part of providing quality healthcare for animals. Animals have a significant role in human society. They benefit people in many ways, including as sources of food, shelter, and friendship. Animals are also used as test subjects and research subjects in fields like genetics and pharmaceuticals. Demand for animal healthcare goods is predicted to rise as a result of rising public concern about animal health, more restrictions, and a greater emphasis on preventing epidemics that may have their origins in animals. These reasons are driving rapid expansion in the global veterinary healthcare industry. The increasing prevalence of zoonotic diseases, food-borne diseases, and the worldwide demand for protein-rich diet are the primary forces propelling the market. Increases in both market size and the use of information technology are fueling the development of the animal health industry.
The expansion of the animal health market has been affected in both positive and bad ways by the global pandemic. Governments in response to the widespread COVID infection in various countries have enacted stringent regulations on travel. Therefore, the movement limitations have reduced the availability of veterinary medicine and health care facilities. Although veterinarian consultations and checkups were needed, they were put on hold while various governments dealt with the ongoing crisis and the emergency of saving human lives. The COVID virus, on the other hand, had already transmitted to the animals. There have been multiple reports of COVID-positive instances. Market participants responded appropriately to the growing demand for COVID testing kits for animals during the second wave of the disease. In order to learn more about the causes and symptoms of COVID in animals, researchers conducted studies and collected samples from a wide range of households' pets for evaluation. Even in the midst of the pandemic, the animal health sector has been driven forward by such forces.
In terms of revenue, the production animal sector ruled the animal health market in 2022. The segment's large market share is likely attributable to the widespread interest in food safety and sustainability among government healthcare agencies around the world. Policymakers in many nations are working towards the goal of complete food security, which drives massive increases in both crop output and livestock husbandry. Long-term sustainability is a primary goal, and the policies are geared towards achieving that goal through a mix of increased output and better veterinary care for cattle.
According to the Food and Agriculture Organisation (FAO), an improvement in livestock production is crucial to meet the dietary needs of the expanding human population because animal-based food items account for one-third of human protein consumption in rising nations. Because of all of these advantages, production animals have cornered a sizable portion of this market. The desire for effective animal care and the pet-human link due to the accompanying health benefits is predicted to drive growth in the companion animal market by roughly 9% annually during the forecast period. The health of humans is improved by their companion animals because of the measurable effects they have on blood pressure, mental health, and the incidence of cardiac arrhythmias and anxiety attacks. As a result, the demand for companion animal goods is expected to increase in the next years, as is the popularity of animal-assisted treatment.
Report Coverage
Global Animal Health Market research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Animal Health Market report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Animal Health Market competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Animal Health Market market players and analyses their core competencies in each global market sub-segments.
| REPORT ATTRIBUTES | DETAILS |
|---|---|
| Study Period | 2017-2030 |
| Base Year | 2022 |
| Forecast Period | 2022-2030 |
| Historical Period | 2017-2021 |
| Unit | Value (USD Billion) |
| Key Companies Profiled | Zoetis; Ceva Santé Animale; Merck & Co., Inc.; Vetoquinol S.A.; Boehringer Ingelheim GmbH; Elanco; Virbac; Heska; Dechra Pharmaceuticals plc; IDEXX Laboratories, Inc. |
| Segments Covered | • By Product |
| Customization Scope | Free report customization (equivalent to up to 3 analyst working days) with purchase. Addition or alteration to country, regional & segment scope |
Key Points Covered in the Report
- Market Revenue of Animal Health Market Market from 2021 to 2030.
- Market Forecast for Animal Health Market Market from 2021 to 2030.
- Regional Market Share and Revenue from 2021 to 2030.
- Country Market share within region from 2021 to 2030.
- Key Type and Application Revenue and forecast.
- Company Market Share Analysis, Animal Health Market competitive scenario, ranking, and detailed company
profiles. - Market driver, restraints, and detailed COVID-19 impact on Animal Health Market
Market
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Animal Health Market market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Animal Health Market market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
Zoetis; Ceva Santé Animale; Merck & Co., Inc.; Vetoquinol S.A.; Boehringer Ingelheim GmbH; Elanco; Virbac; Heska; Dechra Pharmaceuticals plc; IDEXX Laboratories, Inc.
Primary Target Market
- Market Players of Animal Health Market
- Investors
- End-users
- Government Authorities
- Consulting And Research Firm
- Venture capitalists
- Third-party knowledge providers
- Value-Added Resellers (VARs)
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2030. INFINITIVE DATA EXPERT has segmented the global Animal Health Market market based on the below-mentioned segments:
Global Animal Health Market Market, By Type
Farm Animal
Companion Anima
Global Animal Health Market market, By Product
Pharmaceuticals
Vaccines
Feed Additives
Global Animal Health Market Market, By End User
Veterinary Hospitals & Clinics
Animal Care & Rehabilitation Centers
Diagnostic Centers
Others
Global Animal Health Market market, Regional Analysis
- Europe: Germany, Uk, France, Italy, Spain, Russia, Rest of Europe
- The Asia Pacific: China,Japan,India,South Korea,Australia,Rest of Asia Pacific
- South America: Brazil, Argentina, Rest of South America
- Middle East & Africa: UAE, Saudi Arabia, Qatar, South Africa, Rest of Middle East & Africa
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