Animal Healthcare Market – Global Industry Analysis and Forecast (2023-2029)

Animal Healthcare Market is anticipated to reach US$ 90.44 Bn by 2029 from US$ 49.47 Bn. in 2022 at a CAGR of 9 % during a forecast period.

Animal healthcare aims to keep animals healthy by monitoring, guiding, and protecting them against disease. The provision of required veterinary treatments to animals to increase their lifetime and yield is referred to as animal healthcare. There are two sorts of animal healthcare markets: product and animal. The Animal Healthcare Market sells parasiticides, immunizations, feed additives, and other items. Agricultural animals and companion animals are separated into two groups in the Animal Healthcare Market. Farm animals include cattle, poultry, swine, horses, and aquaculture. Companion animals include dogs, cats, and other small animals.To know about the Research Methodology :- Request Free Sample Report

In the report, 2022 is considered a base year however 2022’s numbers are on the real output of the companies in the market. Special attention is given to 2020 and the effect of lockdown on the demand and supply, and also the impact of lockdown for the next two years on the market. Some companies have done well in lockdown also and specific strategic analysis of those companies is done in the report.
Animal Healthcare Market Dynamics
Increased focus on healthcare, such as novel animal illnesses, is one of the primary driving factors of the global animal healthcare market. During the forecast period, however, changes in factory farming procedures for bulk production, which necessitate high-quality animal feed additives, hygiene management products, and vaccinations, among other things, are expected to enhance the animal healthcare market. Each year, new animal ailments arise, giving pharmaceutical companies the chance to provide animal health treatments. Additionally, infectious disease outbreaks are on the rise, as are technological advancements and increasing expenditures by major corporations, all of which are driving the market growth.

In addition, the market is expected to grow as the frequency of zoonotic illnesses rises, as well as the growth of e-commerce platforms that promote online pharmacies. On account of multiple benefits such as convenience and decreased pricing for purchased pharmaceuticals, several developed countries across the world are serving as a focal point for the rise of high adoption of online pharmacies. Market growth is achieved by investing in research and development (R&D) operations to generate superior product offerings and acceptance of advanced technologies by major players to alter the animal healthcare market.

Governments all around the world are concentrating on enacting and enforcing stronger rules and regulations governing animal welfare. The market value is supported by animal adoption and protection, emergency healthcare systems, improved treatment facilities, and vaccination drives, birth control, and immunization programs for animal healthcare. Providing financial aid to animal shelters, as well as financing for multiple veterinary research facilities dedicated to managing advanced zoonotic and foodborne illnesses, would help the business grow significantly. The Indian government launched the National Livestock Mission (NLM) in 2014-15, intending to enhance quality feed and fodder, as well as promote sustainable development by reducing the obstacles faced by livestock animals, such as disease prevalence and other issues. Likewise, the establishment of legislation against the illicit killing of animals and animal mistreatment would benefit humans.

However, the animal healthcare market's growth is constrained by strict regulatory requirements and complicated procedures for acquiring approval and licensing of animal healthcare products.
Animal Healthcare Market Segmentation Analysis
By Animal Type, Due to the growing adoption of farm animals, which is meeting the need for animal-based food items throughout the world, farm animals represented a higher revenue share of over 55 percent in the animal healthcare market. The rising demand for animal protein as a result of rising meat consumption is a major factor driving the farm animal sector market forward.

By Distribution Channel Type, Because of the global propensity for e-commerce, the online pharmacies segment is likely to lead the market. In comparison to veterinary clinics, veterinary hospitals represented the greatest proportion of the worldwide animal healthcare market. Veterinary clinics offer a full range of services for animals, including lodging and nursing care. Due to the comprehensive animal healthcare services provided by veterinary facilities, a great number of pet owners prefer to take their animals there.

Due to increased digitalization, convenience for customers (purchasing at the touch of a button), and preference for e-commerce channels due to decreased pricing of medications, the online segment of the animal healthcare market is expected to grow at a CAGR of more than 4.8 percent through 2029. Another advantage of purchasing drugs online is that they may be pre-ordered by the customer, ensuring continuous pharmaceutical supply. Online pharmacies also offer convenience and accessibility 24 hours a day, seven days a week.
Regional Insight
Because of the growing animal population and increased demand for protein-rich diets, North America dominates the global animal healthcare Market. Due to a growth in the number of pet animals in recent years, the market size in the United States is expected to reach approximately US$ 10 billion in 2021. The Society for the Prevention of Cruelty to Animals in Los Angeles reported that adoptions nearly quadrupled in June 2021, with roughly 10 to 13 adoptions every day. The growing popularity of pets is helping to propel the country's animal healthcare business forward. According to the APPA (American Pet Products Association, Inc.), over 67 percent of Americans had a pet in 2022, up from 56 percent in 1988. The market is expected to grow due to an increase in the number of pet owners, technological improvements, and the prevalence of zoonotic illnesses.

During the forecast period, Europe is expected to be the second most important region in the animal healthcare market, with roughly 29.5 percent of the market share. Companies in the animal healthcare industry are continually investing in research and development to enhance technology and give better animal healthcare solutions in Europe. The market size of the United Kingdom was evaluated at US$ 1.3 billion in 2021, and it is expected to grow at a rapid pace over the forecast period. Since the previous decade, the animal healthcare sector in the United Kingdom has grown rapidly in terms of the use of advanced techniques like artificial intelligence (AI), genomics, and biotech. Various strategic advances are guiding the country's animal healthcare business on the right path. This is evident from Premier Vet Alliance's (PVA) acquisition of Simply Health in November 2021. As a result of this transaction, a global provider of pet healthcare plans can relocate Simply Health's 2,000 facilities to its pet healthcare plan platform.

Due to the high growth of the animal healthcare market in countries such as India and China, Asia Pacific is expected to grow at a quick rate during the forecast period. The rising trend of pet adoption in India and China is propelling the Asia Pacific region's growth in the animal healthcare market. During the forecast period, the Indian animal healthcare market is expected to rise at a CAGR of about 10%.
Report Objectives:
Landscape analysis of the Animal Healthcare Market

competitive benchmarking

Past and current status of the industry with the forecasted market size and trends

Evaluation of potential key players that include market leaders, followers, and new entrants

Technology trends

Potential impact of micro-economic factors of the market

External and Internal factors affecting market have been analysed

The report also helps in understanding the Animal Healthcare Market dynamics, structure by analysing the market segments and project the Animal Healthcare Market size. Clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the Animal Healthcare Market make the report investor’s guide.
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Animal Healthcare Market


Report Coverage
Details


Base Year:
2022
Forecast Period:
2023-2029


Historical Data:
2018 to 2022
Market Size in 2022:
US $ 49.47 Bn.


Forecast Period 2023 to 2029 CAGR:
9 %
Market Size in 2029:
US $ 90.44 Bn.


 Segments Covered:
by Product Type
Feed Additives
Vaccines
Parasiticides
Anti-Infectives
Others


by Animal Type
Companion Animals
Farm Animals


by Route of Administration
Oral
Parenteral
Topical
Farm Animals


by Distribution Channel Type
Veterinary Hospitals & Clinics
Pharmacies & Drug Stores
Online Pharmacies



Animal Healthcare Market by Region
North America (United States, Canada and Mexico)
Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe)
Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC)
Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A)
South America (razil, Argentina Rest of South America)
Key Players:
1. Bayer Healthcare AG
2. Boehringer Ingelheim GmbH
3. Cargill Inc.
4. Ceva Sante Animale
5. Eli Lilly and Company (Elanco/Novartis)
6. Evonik Industries
7. Merck & Co. Inc. (Intervet)
8. Nutreco N.V.
9. Sanofi S.A. (MERIAL Limited)
10. Vetoquinol SA
11. Virbac SA.
12. Zoetis Inc. (Pfizer)
13. C.H. Boehringer
14. Sohn AG & Co. KG
15. Hester Biosciences Ltd.
16. Intas Pharmaceuticals Ltd.
17. Elanco
18. Alivira Animal Health Limited
19. Zydus Animal Health
20. Norbrook Laboratories Limited
21. Phibro Animal Health Corporation

Frequently Asked Questions

1. What is the projected market size & growth rate of Animal Healthcare Market?
Ans- Animal Healthcare Market is anticipated to reach US$ 90.44 Bn by 2029 from US$ 49.47 Bn. in 2022 at a CAGR of 9 % during a forecast period.

2. What is the key driving factor for the growth of Animal Healthcare Market?
Ans- Increased focus on healthcare, such as novel animal illnesses, is one of the primary driving factors of the global animal healthcare market.

3. Which Region accounted for the largest Animal Healthcare Market share?
Ans- Because of the growing animal population and increased demand for protein-rich diets, North America dominates the global animal healthcare Market.

4. What makes Europe a Lucrative Market for Animal Healthcare Market?
Ans- Companies in the animal healthcare industry are continually investing in research and development to enhance technology and give better animal healthcare solutions in Europe.

5. What are the top players operating in Animal Healthcare Market?
Ans- Bayer Healthcare AG, Boehringer Ingelheim GmbH, Cargill Inc., Ceva Sante Animale, Eli Lilly and Company (Elanco/Novartis), Evonik Industries, Merck & Co. Inc. (Intervet), and Nutreco N.V.