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, Anesthesia Equipment, 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), Industry Analysis Report, Regional Outlook, Application Potential, Competitive Market Share & Forecast, 2019 – 2025

Industry trends

The growth of veterinary healthcare market has been influenced by the opportunities in all categories of animal healthcare products and services. The animal healthcare is a rapidly flourishing industry catering to the needs of several livestock and companion animal species. Presently, various established companies are increasingly focusing on the development of healthcare products and services for companion animals. The companion animal healthcare business has witnessed several technological advances and scientific innovations over the past few years.
 

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The first veterinary practice came into existence in 9,000 BC in the Middle East. The development of animal healthcare was quite slow until the latter part of the 19^th century. Previously not much emphasis was given to veterinary care. In the early 1900s pets began to receive medical care more commonly. In 1863, the American Veterinary Medical Association came into being to promote veterinary medicine. In 1965, the Food and Drug Administration added a Veterinary Medical Branch to manage animal pharmaceuticals. Later it became the Center for Veterinary Medicine (CVM) that oversees regulations related to medicine, food, and other products for animals. Advancements in veterinary technology and diagnostics continue to improve the ability to detect diseases early. Presently, thousands of animal healthcare hospitals are devoted to the care of various animals. 
 

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Growing pet expenditure supported by favorable demographic trends will drive the animal healthcare market growth

It is observed that the animal healthcare industry is quite sensitive to changes in the overall economy. Animal healthcare is also impacted by the level of disposable income, pet ownership, and continued technological changes. Pet adoption for companionship among the elderly population has greatly surged in the past decade. Pets are largely adopted by people for companionship and there has been a significant shift in trend from pet owners to pet parents. As per the European Pet Food Industry data, there were about 75 million pet-owning homes in Europe in 2014. Also, “Pets for Seniors” is an organization in Illinois that matches dogs and cats with elderly people who might need help with the responsibilities of pet ownership. Thus, the growing global population along with a rise in the disposable income acted as a catalyst for the growth of animal healthcare business size.
 

However, mismatch of data management systems often complexes the exchange of knowledge between the policymakers, scientific community, and the animal food production sector. This later might hamper the animal healthcare market growth opportunities. Also, lack of awareness and availability of animal medicines and funding in the emerging market might deter the animal healthcare growth opportunities.
 

Growing availability of veterinary services across the globe will boost the industry

The market for animal healthcare is segmented on the basis of product into pharmaceuticals, medical devices and veterinary services.  Pharmaceuticals segment is further bifurcated into drugs, vaccines and medicated feed additives. Medical devices segment covers veterinary diagnostic equipment, anesthesia equipment, patient monitoring equipment, veterinary surgical equipment, veterinary consumables and others. The veterinary services segment accounted for around USD 65 billion in 2018. Veterinary services provide integrated medical care and hospitalization for ailing animals. Animal healthcare hospitals, veterinary clinics, and mobile veterinary services form a typical structure of veterinary services. There are various medical services offered by different veterinary service bodies. Veterinary services include comprehensive preventive care services, emergency treatment service, pet traveling service, surgery service, and grooming service among others. The growing availability of veterinary services in the emerging markets will boost the animal healthcare market growth. 
 

Increasing number of pet adoption will provide lucrative market growth opportunities

Based on animal type, the market is fragmented into companion animals and livestock animals. Companion animals cover dogs, cats, horses, and others. The companion animals segment is poised to witness around 4% CAGR during the forecast timeframe. The segmental progress is majorly due to the growing number of pets and fast-changing technology implications. Furthermore, increasing disposable income in the developing countries and the launch of animal-specific products will drive the overall animal healthcare industry demand. Thus, the aforementioned factors prove beneficial for the market growth.
 

Wide availability of animal specific drugs at pharmacies will contribute to the market growth

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Based on distribution channel, the market for animal healthcare is segmented into pharmacies, online, and distributors. The pharmacies segment was valued over USD 30 billion in 2018. The growing number of animal surgeries due to emphasis on companion and livestock animal health will drive the segment demand. Also, the presence of sophisticated and technologically advanced instruments in the veterinary pharmacies will augment market growth during the forecast timeframe.
 

Presence of established manufacturers will foster the market growth in North America

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North America animal healthcare market share will witness around 3.5% CAGR owing to growing incidences of animal diseases in the region. Technological advances and education about specialty services will further fuel the animal healthcare growth. The presence of established market players coupled with the availability of novel products in the region will positively impact market growth. North America has a high pet adoption rates. As per the National Pet Ownership Survey conducted in 2017-2018 by the American Pet Products Association (APPA), around 78 million dogs are owned by the Americans. Also, it was reported that 44% of households have a dog.
 

The animal healthcare industry players implement several organic and in-organic strategies to capitalize on market growth opportunities 

Some of the prominent players operating in animal healthcare market are Bayer, Boehringer Ingelheim, Dechra Pharmaceuticals, Elanco, Merck, Zoetis, B. Braun Vet Care, Medtronic, IDEXX Laboratories, and Neogen. These players are implementing various organic and inorganic strategies to increase their geographical footprint and market share.
 

Some of the recent industry developments:

• In July 2019, FUJIFILM Corporation established FUJIFILM VET Systems Co., Ltd (FFVS) to supply various medical devices and services for veterinary clinical practice in Japan.  This provided company to enhance the veterinary medicine business and increase animal healthcare market revenue.
   
• In July 2019, Elanco Animal Health acquired Aratana Therapeutics. This provided Elanco to capture the full value of growing product Galliprant and further provided company to increase market share.
   

The animal healthcare market research report includes an in-depth coverage of the industry with estimates & forecast in terms of revenue in USD from 2014 to 2025, for the following segments:

By Product

• 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
  • Anesthesia Equipment
  • Patient Monitoring Equipment
  • Veterinary Surgical Equipment
  • Veterinary Consumables
  • Others
• Veterinary services

By Animal Type

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

By Distribution Channel

• Pharmacies
• Online
• Distributors

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

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