The global Animal Healthcare Market size was valued at USD 55.50 billion in 2022 and is projected to expand at a compound annual growth rate (CAGR) of 7.8% during the forecast period, reaching a value of USD 100.29 billion by 2030.
Animal Healthcare Market research report by Future Data Stats, offers a comprehensive view of the market's historical data from 2017 to 2021, capturing trends, growth patterns, and key drivers. It establishes 2021 as the base year, analyzing the market landscape, consumer behavior, competition, and regulations. Additionally, the report presents a well-researched forecast period from 2022 to 2030, leveraging data analysis techniques to project the market's growth trajectory, emerging opportunities, and anticipated challenges.
MARKET OVERVIEW:
Animal healthcare refers to the branch of medicine that focuses on the prevention, diagnosis, and treatment of diseases and medical conditions in animals. It encompasses various aspects of healthcare for both farm animals and companion animals, including preventive measures, pharmaceuticals, diagnostics, vaccines, and medical devices. Animal healthcare aims to promote the well-being and welfare of animals, ensuring their optimal health and productivity. It involves the collaboration of veterinarians, researchers, pharmaceutical companies, and other stakeholders in the animal health industry to provide effective and compassionate care for animals, improve their quality of life, and prevent the transmission of diseases from animals to humans.
Animal healthcare plays a vital role in maintaining the health and productivity of animals, whether in agricultural settings or as companion pets. It involves a wide range of practices, from routine vaccinations and deworming to surgical interventions and advanced diagnostics. The field encompasses various disciplines such as veterinary medicine, animal nutrition, epidemiology, and pharmacology. By providing appropriate healthcare, addressing diseases, and managing health conditions, animal healthcare contributes to the overall welfare and sustainable production of animals while also ensuring public health and safety.
MARKET DYNAMICS:
One of the key drivers is the increasing demand for animal-derived products, such as meat, milk, and eggs, driven by the rising global population and changing dietary patterns. This drives the need for effective animal healthcare practices to ensure the health and well-being of livestock, which directly impacts the quality and quantity of animal-derived products. Additionally, the growing awareness and concern for animal welfare, along with the increasing prevalence of zoonotic diseases, have led to a greater focus on preventive healthcare measures for animals, further driving the market growth. Technological advancements in diagnostics, pharmaceuticals, and vaccines have also contributed to the growth of the animal healthcare market by providing more effective and efficient solutions for disease prevention and treatment.
However, the Animal Healthcare Market faces certain restraints that pose challenges to its growth. One significant restraint is the high cost associated with veterinary services, diagnostics, and pharmaceutical products, especially in developing regions. Limited access to veterinary services, particularly in rural areas, hinders the adoption of proper healthcare practices for animals. Regulatory complexities and the stringent approval process for veterinary drugs and vaccines also pose challenges for market players. Additionally, the lack of awareness and education among animal owners about the importance of preventive healthcare and the limited availability of skilled veterinary professionals in some regions act as restraints to market growth.
Despite these challenges, the Animal Healthcare Market presents opportunities for growth and innovation. The increasing demand for pet ownership and the growing trend of humanization of pets create opportunities for veterinary services, pharmaceuticals, and pet healthcare products. The rising focus on preventive healthcare and the development of advanced diagnostics and therapeutics open avenues for market expansion. Additionally, the increasing investments in research and development activities for animal healthcare, along with the growing awareness of zoonotic diseases, provide opportunities for the introduction of new and improved products and treatments in the market.
ANIMAL HEALTHCARE MARKET SEGMENTAL ANALYSIS
BY PRODUCT:
These include pharmaceuticals, vaccines, feed additives, diagnostics, medical devices, and others. Pharmaceuticals play a crucial role in the treatment and management of animal diseases, providing medications and therapeutics to improve animal health. Vaccines are essential for preventing infectious diseases in animals, promoting disease control and reducing the risk of transmission. Feed additives are used to enhance animal nutrition and optimize their growth and performance. Diagnostics help in the early detection and diagnosis of diseases in animals, enabling timely treatment and prevention.
Medical devices are utilized for various purposes, such as surgical interventions, monitoring, and administration of medications. Other product types encompass a range of animal healthcare solutions and services that contribute to the overall well-being and care of animals. These dominant factors in the Animal Healthcare Market reflect the diverse needs and approaches in managing animal health and ensuring their overall welfare and productivity.
BY ANIMAL TYPE:
Farm animals, including cattle, swine, poultry, sheep, goats, and others, represent a significant segment of the market. The healthcare needs of farm animals are primarily driven by factors such as optimizing productivity, ensuring animal welfare, and maintaining the quality of animal-derived products. This includes preventive measures, disease management, and nutritional support tailored to the specific requirements of each species. Companion animals, including dogs, cats, horses, and others, also contribute to the animal healthcare market.
The care of companion animals focuses on preventive healthcare, vaccinations, diagnostics, treatment of ailments, and overall well-being. The growing trend of pet ownership and the increasing humanization of pets have led to a rise in demand for high-quality healthcare services and products for companion animals. These dominant factors based on animal types reflect the diverse healthcare needs and the unique approaches in addressing the health and well-being of farm and companion animals in the Animal Healthcare Market.
BY DISTRIBUTION CHANNEL:
These channels include veterinary hospitals and clinics, retail pharmacies and drug stores, online pharmacies, and others. Veterinary hospitals and clinics play a significant role as a primary distribution channel for animal healthcare products and services. They offer a wide range of veterinary care, diagnostics, treatments, and medications, catering to the healthcare needs of various animals. Retail pharmacies and drug stores also contribute to the distribution of animal healthcare products, providing convenient access to medications, vaccines, and other related supplies for animal owners. With the increasing digitization and e-commerce trends, online pharmacies have emerged as a dominant distribution channel, offering a convenient platform for purchasing animal healthcare products and accessing veterinary advice.
Other distribution channels may include specialized animal health centers, direct sales by manufacturers, and agricultural cooperatives. These dominant factors in the Animal Healthcare Market based on distribution channels reflect the importance of various avenues through which animal healthcare products and services are made available to animal owners and veterinary professionals, ensuring the accessibility and availability of necessary healthcare resources.
BY END USER:
These end users include farms, companion animal owners, veterinary hospitals and clinics, and others. Farms represent a significant end user segment in the animal healthcare market, as they focus on the health and well-being of livestock and production animals. Animal healthcare products and services for farms encompass various aspects such as disease prevention, nutrition, reproductive health, and overall management practices. Companion animal owners, including pet owners, also play a crucial role in the animal healthcare market. They seek healthcare solutions and services to ensure the well-being, preventive care, and treatment of their beloved pets.
Veterinary hospitals and clinics serve as essential end users, providing comprehensive healthcare services, diagnostics, and treatments for a wide range of animals. Other end users may include animal shelters, research institutions, and organizations involved in wildlife conservation and animal welfare. These dominant factors based on end users reflect the diverse needs and stakeholders involved in the Animal Healthcare Market, aiming to ensure the health, welfare, and productivity of animals across various sectors and settings.
REGIONAL ANALYSIS:
In North America, the market is driven by factors such as the well-established veterinary infrastructure, high pet ownership rates, and the growing awareness of animal health and welfare. The region has a strong presence of key market players and technological advancements, contributing to market growth. Europe is another significant market for animal healthcare, characterized by stringent regulations on animal health and welfare, and a high demand for quality healthcare services for companion animals.
The Asia Pacific region offers growth opportunities due to the increasing population, rising disposable income, and changing attitudes towards pet ownership. The region is witnessing a shift towards preventive healthcare for animals, driving the demand for animal healthcare products and services. Latin America and the Middle East and Africa regions also present growth potential with a rising focus on livestock production and increasing investments in animal health infrastructure.
COVID-19 IMPACT:
The COVID-19 pandemic has had a significant impact on the Animal Healthcare Market, introducing both challenges and opportunities. The outbreak has led to disruptions in the supply chain and logistics, affecting the availability and distribution of animal healthcare products and services. The closure of veterinary clinics, reduced mobility, and restrictions on non-essential activities have impacted the delivery of veterinary care and reduced the demand for certain non-essential animal healthcare products. Additionally, economic uncertainties and financial constraints faced by pet owners and farms have influenced their spending on animal healthcare. However, the pandemic has also highlighted the importance of animal health and the need for effective preventive measures.
The increased awareness of zoonotic diseases and the understanding that animal health can impact human health has led to a renewed focus on animal healthcare practices. Moreover, the rise in pet adoption and the growing human-animal bond during the pandemic have driven the demand for pet healthcare products and services. The Animal Healthcare Market has adapted to the changing landscape by embracing telemedicine and online platforms to provide veterinary consultations and deliver essential products. The lessons learned from the pandemic are expected to shape the future of the animal healthcare industry, with a greater emphasis on preventive healthcare, telemedicine, and innovative solutions that cater to the evolving needs of animals and their owners.
INDUSTRY ANALYSIS:
Mergers & Acquisitions:
- In May 2023, Manna Pro Products acquired Oxbow Animal Health.
- In June 2023, ADM acquired the remaining 40% shareholding of Invivo Sanpo.
- In July 2023, Zoetis acquired Abaxis.
Product Launches:
- In January 2023, Zoetis launched the Rejuvenate Infusion Therapy System.
- In February 2023, Elanco launched the Intakto Plus flea and tick control product.
- In March 2023, Merck Animal Health launched the Gallipro vaccine for poultry.
KEY MARKET PLAYERS:
- Zoetis Inc.
- Merck Animal Health
- Elanco Animal Health
- Boehringer Ingelheim Animal Health
- Bayer AG
- Virbac
- Ceva Santé Animale
- Vetoquinol S.A.
- IDEXX Laboratories, Inc.
- Dechra Pharmaceuticals PLC
- Nutreco N.V.
- Phibro Animal Health Corporation
- Heska Corporation
- Neogen Corporation
- Kindred Biosciences, Inc.
- Idexx Laboratories
- Biogenesis Bago
- Hipra
- Norbrook Laboratories Ltd.
- Bimeda Holdings PLC
- Ouro Fino Saúde Animal
- Vétoquinol
- Kyoritsu Seiyaku Corporation
- Merial (now part of Boehringer Ingelheim Animal Health)
- Huvepharma AD
Table of Contents
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Executive Summary
- Market Overview
- Key Highlights
- Market Attractiveness Analysis
-
Introduction
- Market Definition
- Market Scope
- Research Methodology
- Primary Research
- Secondary Research
- Assumptions and Limitations
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Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Market Trends
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Animal Healthcare Market Segmentation
- By Product
- By Animal Type
- By Route of Administration
- By Distribution Channel
- By End User
- By Region
- By Animal Health Condition
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Competitive Landscape
- Market Share Analysis
- Key Strategies
- Company Profiles
- Company 1
- Company 2
- Company 3
- ...
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Regional Analysis
- North America
- Market Size and Forecast
- Key Players
- Market Trends
- Europe
- Market Size and Forecast
- Key Players
- Market Trends
- Asia Pacific
- Market Size and Forecast
- Key Players
- Market Trends
- Latin America
- Market Size and Forecast
- Key Players
- Market Trends
- Middle East and Africa
- Market Size and Forecast
- Key Players
- Market Trends
- North America
-
Market Opportunities and Future Trends
- Emerging Technologies
- Regulatory Developments
- Market Expansion
-
Conclusion
-
Appendix
- List of Abbreviations
- Disclaimer
- About Us
ANIMAL HEALTHCARE MARKET SEGMENTATION
By Product:
- Pharmaceuticals
- Vaccines
- Feed Additives
- Diagnostics
- Medical Devices
- Others
By Animal Type:
- Farm Animals
- Cattle
- Swine
- Poultry
- Sheep and Goats
- Others
- Companion Animals
- Dogs
- Cats
- Horses
- Others
By Distribution Channel:
- Veterinary Hospitals and Clinics
- Retail Pharmacies and Drug Stores
- Online Pharmacies
- Others
By End User:
- Farms
- Companion Animal Owners
- Veterinary Hospitals and Clinics
- Others
By Geography:
- North America (USA, Canada, Mexico)
- Europe (Germany, UK, France, Russia, Italy, Rest of Europe)
- Asia-Pacific (China, Japan, South Korea, India, Southeast Asia, Rest of Asia-Pacific)
- South America (Brazil, Argentina, Columbia, Rest of South America)
- Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria, South Africa, Rest of MEA)
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RESEARCH METHODOLOGY
With a collective industry experience of about 70 years of analysts and experts, Future Data Stats encompasses the most infallible research methodology for its market intelligence and industry analysis. Not only does the company dig deep into the innermost levels of the market, but also examines the minutest details for its market estimates and forecasts.
This approach helps build a greater market-specific view of size, shape, and industry trends within each industry segment. Various industry trends and real-time developments are factored into identifying key growth factors and the future course of the market. The research proceeds are the results of high-quality data, expert views & analysis, and valuable independent opinions. The research process is designed to deliver a balanced view of the global markets and allows stakeholders to make informed decisions, to attain their highest growth objectives.
Future Data Stats offers its clients exhaustive research and analysis, based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. These analytical tools and models distill the data & statistics and enhance the accuracy of our recommendations and advice.
With Future Data Stats calibrated research process and 360° data-evaluation methodology, the clients receive:
- Consistent, valuable, robust, and actionable data & analysis that can easily be referenced for strategic business planning
- Technologically sophisticated and reliable insights through a well-audited and veracious research methodology
- Sovereign research proceeds that present a tangible depiction of the marketplace
With this strong methodology, Future Data Stats ensures that its research and analysis is most reliable and guarantees sound business planning.
The research methodology of the global market involves extensive primary and secondary research. Primary research includes about 24 hours of interviews and discussions with a wide range of stakeholders that include upstream and downstream participants. Primary research typically is a bulk of our research efforts, coherently supported by extensive secondary research. Over 3000 product literature, industry releases, annual reports, and other such documents of key industry participants have been reviewed to obtain a better market understanding and gain enhanced competitive intelligence. In addition, authentic industry journals, trade associations’ releases, and government websites have also been reviewed to generate high-value industry insights.
Primary Research:
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Primary Research
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Desk Research
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Company Analysis
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• Identify key opinion leaders • Questionnaire design • In-depth Interviews • Coverage across the value chain
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• Company Website • Company Annual Reports • Paid Databases • Financial Reports
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• Market Participants • Key Strengths • Product Portfolio • Mapping as per Value Chain • Key focus segment
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Primary research efforts include reaching out to participants through emails, telephonic conversations, referrals, and professional corporate relations with various companies that make way for greater flexibility in reaching out to industry participants and commentators for interviews and discussions.
The aforementioned helps to:
- Validate and improve data quality and strengthen the research proceeds
- Develop a market understanding and expertise
- Supply authentic information about the market size, share, growth, and forecasts
The primary research interview and discussion panels comprise experienced industry personnel.
These participants include, but are not limited to:
- Chief executives and VPs of leading corporations specific to an industry
- Product and sales managers or country heads; channel partners & top-level distributors; banking, investments, and valuation experts
- Key opinion leaders (KOLs)
Secondary Research:
A broad array of industry sources for the secondary research typically includes, but is not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for a competitive scenario and shape of the industry
- Patent and regulatory databases to understand technical & legal developments
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles, web-casts, and other related releases to evaluate the market
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecasts
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PRIMARY SOURCES |
DATA SOURCES |
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• Top executives of end-use industries • C-level executives of the leading Parenteral Nutrition companies • Sales manager and regional sales manager of the Parenteral Nutrition companies • Industry Consultants • Distributors/Suppliers
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• Annual Reports • Presentations • Company Websites • Press Releases • News Articles • Government Agencies’ Publications • Industry Publications • Paid Databases
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Analyst Tools and Models:
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BOTTOM-UP APPROACH |
TOP-DOWN APPROACH |
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· Arriving at · Arriving at · Market Share · Key Market Players |
· Key Market Players · Market Share · Arriving at · Arriving at |
ANIMAL HEALTHCARE MARKET DYNAMIC FACTORS
Drivers:
- Increasing pet ownership and the human-animal bond
- Growing demand for animal-derived products
- Rising prevalence of zoonotic diseases
- Technological advancements in animal healthcare products and diagnostics
- Focus on preventive healthcare and wellness for animals
Restraints:
- Stringent regulatory frameworks for animal healthcare products
- High cost of veterinary care and medications
- Limited access to veterinary services in certain regions
- Economic uncertainties and financial constraints affecting animal owners
- Ethical concerns and debates surrounding animal testing and use of certain medications
Opportunities:
- Expansion of the pet insurance industry
- Advancements in telemedicine and remote veterinary consultations
- Growing focus on personalized and targeted therapies for animals
- Increasing investment in research and development for innovative animal healthcare solutions
- Rise in pet humanization and demand for premium animal healthcare products
Challenges:
- Outbreaks of emerging and re-emerging diseases
- Antimicrobial resistance and the need for responsible antibiotic use
- Ensuring food safety and animal welfare in livestock production
- Education and awareness about preventive healthcare among animal owners
- Meeting the diverse healthcare needs of different animal species and breeds
Frequently Asked Questions
