Global Animal Health Market Size Hit USD 79.29 Billion at a CAGR of 5.9% in 2028

Published March 28, 2023

The global animal health market is expected to reach USD 79.29 Billion in 2028 and register a steady revenue CAGR of 5.9% over the forecast period, according to latest report published by Reports and Data. Key factors driving global market revenue growth are increasing adoption of companion animals such as cats and dogs among elderly population, and rising demand for animal-based food products across various countries across the world.

Animals have been a crucial part in man’s life since ancient times as they appear in ancient cave paintings, on modern commercial farmlands, and as pets in homes. There has been a rapid increase in the livestock population owing to high consumption of animal-based food due to rapidly increasing population, and technological advancements in livestock farming. Adoption of companion animals such as cats and dogs among elderly people and children has also increased in recent years. However, like human beings, these animals are prone to various diseases and infections. Animal healthcare involves taking care of animals and maintaining good health and records of drugs, medications, and vaccines by consulting veterinarians. Various companies are focusing on developing enhanced drug formulations to cater to increasing prevalence of diseases and infections in animals. In addition, several public and private sectors are focusing on improving animal healthcare services, providing better treatment facilities, and providing financial help to research laboratories working on zoonotic diseases.

However, high cost of animal health products, costly treatment, increasing chances of resistance to parasiticides and antibiotics due to prolonged use and lack of skilled healthcare experts, and funding for research in various underdeveloped countries are factors that could hamper market growth.

Companies profiled in the global market report include Olympus Corporation., Intuitive Surgical, Brainlab AG, Asensus Surgical US, Inc., CMR Surgical Ltd., Avateramedical GmbH, Medtronic, B. Braun SE, Boston Scientific Corporation, and AKTORmed GmbH.

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Market Overview:

The research report assesses the market dynamics, market landscape, company profiles, production and manufacturing capacity, year-on-year growth rate, SWOT analysis, and Porter’s Five Forces analysis. The report estimates the market size, market growth, and provides an accurate forecast for the key segments of the market for the forecast period of 2022-2028. The report also covers an in-depth analysis of the key competitors of the market, along with their growth strategies and business expansion plans.

The Animal Health Market has been segmented into key regions of the world and offers an analysis of growth rate, market share, market size, current and emerging trends, production and consumption ratio, industrial chain analysis, demand and supply, import and export, revenue contribution, and presence of key players in each region. A country-wise analysis of the market is offered in the report to gain a better understanding of the regional spread and progress of the Animal Health Market.

Further key findings from the report suggest,

  • Among the product types, the pharmaceutical segment is expected to register significant revenue growth during the forecast period. This can be attributed to increasing prevalence of bacterial and parasitic infections, high production of livestock animals, availability of highly effective drugs such as antibiotics, parasiticides, and anti-inflammatory drugs to treat various infections, and increasing investment in research and development activities.
  • Based on distribution channel, the veterinary hospitals & clinics segment is expected to register rapid revenue CAGR over the forecast period owing to increasing number of hospital pharmacies, increasing patient pool, and easy availability of medicines and healthcare supplies.
  • North America is expected to account for largest revenue share in the global market during the forecast period owing to factors such as high prevalence of zoonotic diseases, increasing adoption of dogs and cats for companionship among elders, increasing number of veterinary hospitals and clinics, and availability of advanced treatment facilities. Other factors such as increasing investments in research and development activities, rising demand for animal-based products, and high disposable income are also fueling North America’s market growth.
  • Asia Pacific market is expected to register a rapid revenue CAGR of 10% between 2021 and 2028 owing to rising incidence of infections and parasitic diseases in animals, increasing adoption of pets, rapid urbanization, and high demand for animal-derived food products. In addition, increasing awareness about animal health and nutrition, favorable government initiatives, and high focus on developing more effective and affordable products are other factors expected to fuel market growth in Asia Pacific going ahead.

To understand how our Animal Health Market can bring difference to your business strategy:

For the purpose of this study, Reports and Data has segmented the global animal health market based on animal type, product outlook, dosage, distribution channel, end use, and region:

Animal Type Outlook (Revenue, USD Billion, 2018-2028)

  • Production Animals
    • Poultry
    • Swine
    • Cattle
    • Sheep & Goats
    • Fish
  • Companion Animals
    • Dogs
    • Cats
    • Horses
    • Others

Product Outlook (Revenue, USD Billion, 2018-2028)

  • Vaccines
    • Live Attenuated Vaccines
    • DNA Vaccines
    • Recombinant Vaccines
    • Inactivated Vaccines
    • Others
  • Pharmaceuticals
    • Parasiticides
    • Anti-infectives
    • Anti-inflammatory
    • Analgesics
    • Others
  • Feed Additives
    • Antibiotics
    • Vitamins
    • Amino acids
    • Feed enzymes
    • Antioxidants
    • Prebiotics and probiotics
    • Minerals
  • Diagnostics
    • Instruments
    • Consumables
    • Others

Dosage Outlook (Revenue, USD Billion, 2018-2028)

  • Oral
    • Tablets or Capsules
    • Powder or Premix
    • Liquid
  • Parenteral
    • Liquid
    • Powder
  • Topical
    • Solutions
    • Creams and ointments
    • Powder
  • Transdermal
    • Patches
    • Gels
    • Sprays

Distribution Channel Outlook (Revenue, USD Billion, 2018-2028)

  • Retail
  • E-commerce
  • Veterinary Hospitals & Clinics
  • Others

End-use Outlook (Revenue, USD Billion, 2018-2028)

  • Reference Laboratories
  • POC Testing/In-house Testing
  • Veterinary Hospitals & Clinics
  • Others

Regional Outlook (Revenue, USD Billion, 2018-2028)

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • Germany
    • UK
    • France
    • Italy
    • Spain
    • Sweden
    • Benelux
    • Rest of Europe
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
    • Rest of APAC
  • Latin America
    • Brazil
    • Rest of LATAM
  • Middle East & Africa
    • Saudi Arabia
    • UAE
    • South Africa
    • Israel
    • Rest of MEA

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 Key Advantages of Animal Health Market Report:

  • Identification and analysis of the market size and competition
  • Qualitative and quantitative analysis of the market data
  • Data validated by industry experts after extensive primary and secondary research
  • Extensive regional analysis of the Animal Health industry
  • Profiling of key players along with their business overview, business strategies, deals and partnerships, and product portfolio
  • SWOT and Porter’s Five Forces Analysis for in-depth understanding of the competitive landscape
  • Feasibility analysis and investment analysis to enable strategic investment decisions
  • Analysis of opportunities, drivers, restraints, challenges, risks, and limitations

Conclusively, all aspects of the Animal Health Market are quantitatively as well qualitatively assessed to study the global as well as regional market comparatively. This market study presents critical information and factual data about the market providing an overall statistical study of this market on the basis of market drivers, limitations and its future prospects.

About Us:

Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target and analyze consumer behavior shifts across demographics, across industries and help client’s make a smarter business decision. We offer market intelligence studies ensuring relevant and fact-based research across a multiple industries including Healthcare, Technology, Chemicals, Power and Energy. We consistently update our research offerings to ensure our clients are aware about the latest trends existent in the market.

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