Animal Healthcare Market Size By Product (Pharmaceuticals {Drugs [Antiparasitic, Anti-inflammatory, Anti-infectives], Vaccines [Modified Live Vaccines, Killed Inactivated Vaccines], Medicated Feed Additives [Antibiotics, Vitamins, Amino acids, Enzymes, Antioxidants, Prebiotics and Probiotics, Minerals]}, Medical Devices {Veterinary Diagnostic Equipment, Veterinary Anaesthesia Equipment, Veterinary Patient Monitoring Equipment, Veterinary Surgical Equipment, Veterinary Consumables}, Veterinary Services), By Animal Type (Livestock Animals {Poultry, Swine, Cattle, Fish}, Companion Animals {Dogs, Cats, Horses}, By Distribution Channel (Pharmacies, Online, Distributors), COVID-19 Impact Analysis, Regional Outlook, Application Potential, Competitive Market Share & Forecast, 2021 – 2027

Industry Trends

Animal Healthcare Market size was valued at around USD 139 billion in 2020 and is predicted to grow at over 4.7% CAGR from 2021 to 2027. Increasing prevalence of zoonotic diseases, growing penetration of e-commerce platforms promoting online pharmacies are anticipated to uplift the market growth. Various developed countries around the world are acting as the focal point for growth of high adoption of online pharmacies on account of numerous benefits such as convenience and discounted prices for ordered medications. Investing in research and development (R&D) activities to come up with improved product offerings and acceptance of advanced technologies by key players in order to transform the animal healthcare sector will result in the market expansion.
 

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The COVID-19 pandemic has affected the entire healthcare sector and animal healthcare is no different. In the initial period, there was high probability of animals getting infected due to being in close contact with human beings. Several cases were reported where all of them including companion animals, livestock animals and animals kept in zoological facilities tested positive for COVID-19 virus. Noticing the need and demand for COVID-19 testing kits for animals, various market players launched their products to help veterinarians. Furthermore, the spread of virus has severely impacted the consultation and treatment of animals owing to travel restrictions and in many cases closure of veterinary hospitals.
 

To avoid such scenarios in the UK, the British Veterinary Association (BVA) issued guidelines for practitioners to make a transition to telemedicine wherever possible which yielded positive outcomes in the midst of crisis. After the guidelines from the World Veterinary Association (WVA) and several other local veterinary associations, various countries have put veterinary services under the 'essential' category. This helped in curbing the spread of viruses in animals by having faster consultation and treatment at the right time in hospitals. Moreover, the outbreak saw supportive government policies for continued research and approval of animal drugs amid pandemics.
 

Increasing government support for pet care across the globe will boost the animal healthcare market revenue

Governments across the world are focusing on bringing and implementing stricter laws, regulating guidelines for animal healthcare. Animal adoption and protection, emergency healthcare systems, better treatment facilities along with conducting vaccination drives, birth control & immunization programs for animal healthcare will support the market value. Providing financial assistance to animal shelters, funding for several veterinary research related laboratories for containing advanced zoonotic and foodborne diseases will substantially assist in the industry growth. The government of India has commenced its National Livestock Mission (NLM) from 2014-15, which focuses on improving quality feed and fodder, sustainable development by minimizing the challenges faced by livestock animals such as prevalence of diseases and various other factors. Additionally, implementation of laws on illegal slaughtering of animals, animal abuse will promote people to adopt animals.
 

Growing R&D spending for drug and vaccine development will spur the segment growth

The pharmaceuticals segment in the animal healthcare market is projected to witness a 5.4% growth rate till 2027 led by the increasing demand and supply of vaccines, drugs, and medicated feed additives. Rising prevalence of zoonotic diseases, rising feed production, growing awareness among consumers regarding animal wellbeing are some of the major factors promoting demand for pharmaceuticals in the market. According to the World Health Organization (WHO), West Nile virus, a single-stranded RNA virus can cause severe disease and death in horses. In addition, the improved animal healthcare system for early diagnosis, detection and treatment of diseases will further fuel the segment progression.
 

Rising demand for animal-based products across the globe will foster the animal healthcare market demand

The livestock animals segment accounted for USD 52.7 billion in 2020 impelled by the rise in the number of livestock animals around the world. Factors such as high demand for animal-based products and growing meat consumption are contributing to the market growth. As per the USDA Foreign Agricultural Service (FAS) estimates, there is sharp rise in global beef consumption from over 127 billion pounds in 2015 to over 134 billion pounds in 2018. Thus, the rising consumption of animal protein coupled with increased demand for dairy products will support the segment expansion.
 

Growing digitization coupled with consumer convenience will influence the online pharmacy segment revenue

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The online segment in the animal healthcare market is estimated to attain a CAGR of more than 4.8% through 2027 due to rising digitization, convenience for consumers (ordering at the click of button) and preference for e-commerce channel owing to discounted prices of medicines. Additional benefit of ordering medicines from an online platform is uninterrupted medication supply as they can be pre-ordered by the consumer itself. In addition, easy access and round the clock availability are other benefits of online pharmacies.
 

Increasing adoption of pets and availability of established veterinary healthcare infrastructure in North America will augment the regional growth

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The U.S. dominated the North America animal healthcare market and exceeded USD 49 billion in 2020 on account of the significant rise in the number of pet animal acceptance in the U.S. in last few decades. According to the American Pet Products Association, Inc. (APPA), around 67% of U.S. households owned a pet in 2019 in comparison to 56% in 1988. Also, there is a surge in country's pet industry expenditure. For instance, total U.S. pet expenditure reached around 96 billion in 2019 from more than 90 billion in 2018. Furthermore, according to the American Veterinary Medical Association (AVMA) 2018 report, the population of veterinarians in the U.S. will reach around 125K in 2027 from around 110K in 2018. Increased veterinarian population will enable the industry players to provide efficient services throughout the country.
 

UK animal healthcare market size was over USD 5.7 billion in 2020. Country's animal healthcare industry is showcasing robust growth in the past few years in terms of usage of advanced technologies including genomics, biotech, and artificial intelligence (AI). Various strategic developments are shaping the country's animal healthcare in a positive direction. This can be well-understood from the acquisition of Simplyhealth by Premier Vet Alliance (PVA) in November 2020. Under this acquisition PVA, a global pet healthcare plans provider will migrate Simplyhealth’s 2,000 practices to its pet health plan portal. Moreover, the veterinary and companion animal spending in UK reached more than USD 6 billion in 2019 from around USD 4 billion in 2016. Hence, all such developments attract a large customer base and promote the availability of advanced solutions in the field.
 

Presence of strong industry players implementing strategic initiatives will contribute to the market expansion

Elanco, Bayer, Boehringer Ingelheim, Merck & Co., Inc., Zoetis, Dechra Pharmaceuticals, and Neogen are some of the major companies operating in the market. Industry leaders are focusing on adopting organic and inorganic growth strategies to remain competitive and sustain in the market. Mergers and acquisition, partnerships with other players expand product offerings, thus helping the players to increase its customer base by offering improved quality products in the market.
 

Animal healthcare market research report includes an in-depth coverage of the industry with estimates & forecast in terms of revenue in USD from 2016 to 2027, for the following segments:

Market, By Product, 2016 - 2027 (USD Million)

• Pharmaceuticals
  • Drugs
    • Antiparasitic
    • Anti-inflammatory
    • Anti-infectives
    • Others
  • Vaccines
    • Modified Live Vaccines (MLV)
    • Killed Inactivated Vaccines
    • Others
  • Medicated Feed Additives
    • Antibiotics
    • Vitamins
    • Amino acids
    • Enzymes
    • Antioxidants
    • Prebiotics and probiotics
    • Minerals
    • Others
• Medical Devices
  • Veterinary Diagnostic Equipment
  • Veterinary Anesthesia Equipment
  • Veterinary Patient Monitoring Equipment
  • Veterinary Surgical Equipment
  • Veterinary Consumables
  • Others
• Veterinary Services

Market, By Animal Type, 2016-2027 (USD Million)

• Livestock Animals
  • Poultry
  • Swine
  • Cattle
  • Fish
  • Others
• Companion Animals
  • Dogs
  • Cats
  • Horses
  • Others

Market, By Distribution Channel, 2016-2027 (USD Million)

• Pharmacies
• Online
• Distributors

The above information is provided for the following regions and countries:

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • UK
  • France
  • Spain
  • Italy
  • Poland
  • The Netherlands
• Asia Pacific
  • Japan
  • China
  • India
  • South Korea
  • Australia
  • Taiwan
• Latin America
  • Brazil
  • Mexico
  • Argentina
• Middle East & Africa
  • South Africa
  • GCC Countries
  • Israel