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Animal Healthcare Market - By Product [Pharmaceuticals (Drugs, Anti-inflammatory, Vaccine, Antibiotic), Medical Device (Diagnostics, Anesthesia, Surgical), Service], Animal (Dog, Cat, Horse, Cattle), Distribution (Online, Pharmacy)- Global Forecast to 2032
- Report ID: GMI735
- Published Date: Mar 2023
- Report Format: PDF
Industry Statistics
Animal Healthcare Market size crossed USD 150.6 billion in 2022 and is estimated to witness 4.7% CAGR between 2023 and 2032. This significant market growth is majorly pertaining to several factors including the increasing pet adoption for companionship, rising meat and dairy product consumption, rising zoonotic and foodborne disease prevalence, and growing pet adoption across the globe.
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For instance, according to WHO zoonoses account for about 60% of newly discovered infectious diseases worldwide. In the past 30 years, over 30 distinct human pathogens have been discovered, 75% having animal origins. In the WHO's Eastern Mediterranean Region, rising zoonoses pose a spreading risk to public health. In the past 20 years, emerging zoonotic diseases have been reported from 18 of 22 nations, frequently with rapid outbreaks and high mortality rate. Thus, the abovementioned factors are set to propel the global animal healthcare industry growth.
Animal healthcare refers to the branch of medicine concerned with the prevention, management, diagnosis, and treatment of sickness, disorder, and injury in animals. Furthermore, it is involved in animal husbandry, breeding, nutrition research, and product creation.
However, the lack of uniformity, growing concerns about complications, and the high cost of animal diagnostics could also restrain the development of the animal healthcare market. For instance, the normal check-up for a dogs costs, on average, USD 50 to USD 250. The total cost of veterinary treatment, including wellness exams, dental work, lab work, and vaccinations, can range from USD 700 to USD 1,500. The cost for the diagnosis of all types of animals varies based on the location, type o animal, and disease type.
| Report Coverage | Details |
|---|---|
| Base Year: | 2022 |
| Market Size in 2022: | USD 150 Billion |
| Forecast Period: | 2023 to 2032 |
| Forecast Period 2023 to 2032 CAGR: | 4.5% |
| 2032 Value Projection: | USD 238 Billion |
| Historical Data for: | 2018 to 2022 |
| No. of Pages: | 306 |
| Tables, Charts & Figures: | 641 |
| Segments covered: | Product, Animal Type, Distribution Channel, and Region. |
| Growth Drivers: |
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| Pitfalls & Challenges: |
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Advancements in the pet healthcare industry is anticipated to amplify the market statistics
Technological advancements have aided in the improvement of the standard of life for both humans and animals. The use of technology has also led in better care outcomes for both pets and their owners. MRI (Magnetic Resonance Imaging), ultrasound scans, and laparoscopy, which were originally reserved for people, are now being used to treat pets and other animals. With the advancements in the technology such as digital communication, the digital radiographs have replaced conventional X-ray films. Digital dental X-rays and advanced oral surgery tools enables veterinarians to improve pet oral health. Newer inventions handle health issues in pets not only in clinics, but all over the place for prevention and improved care.
Increasing demand of veterinary services in animal healthcare is set to propel the market forecasts
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Based on product, the animal healthcare market is segmented as pharmaceuticals, medical devices, and veterinary services. The veterinary services segment is expected to reach around USD 76 billion by 2032. This high market revenue is owing to several advantages offered by veterinary services in animal healthcare. In addition, as the risk of zoonotic diseases grows, veterinary clinics provide a variety of services to prevent and manage veterinary infectious diseases.
Companion animals in animal healthcare is set to stimulate the business landscape
Based on animal type, animal healthcare market is segmented as livestock animals, and companion animals. The companion animals segment accounted for around USD 93.4 billion in 2022 and is set to witness a CAGR of over 4.4% through 2032. This is due to the fact that companion animals are proven to reduce blood pressure, provide psychological stability, and reduce the incidence of cardiac arrhythmias and anxiety symptoms, all of which improve human well-being.
Availability of variety animal healthcare in supermarkets & hypermarkets is expected to enhance the product adoption
| Distribution Channel | Market Share, 2022 (%) |
|---|---|
| Distributors | 43% |
| E-commerce | 31% |
| Pharmacies | 26% |
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Based on distribution channel, The industry is divided into three segmented as pharmacies, online, and distributors. The distributors category is expected to expand at a lucrative 3.8% CAGR from 2023 to 2032. This increased segmental share is due to veterinary distributors sell veterinary goods made by animal health companies. They frequently use their own distributor representative sales team to help veterinary clinics and hospitals detail animal care products/services. The method of distribution is sometimes determined by the product's approval pathway and prescription regulations, such as whether the product must be dispensed by or on the order of a certified veterinarian. Some products can be disseminated to pet owners immediately through retail outlets.
The rising prevalence of zoonotic disease is expected to drive the animal healthcare industry statistics
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North America animal healthcare market accounted for 39.4% revenue share in 2022, due to a variety of definitive measures implemented by government animal welfare organizations that are constantly working to better overall animal health. Furthermore, technological advancements, rising zoonotic disease incidence, and an increasing number of pet owners are expected to drive market expansion in the region. Several collaborative efforts by major businesses to improve their R&D capabilities and ensure high-quality standards are anticipated to drive demand in this region even higher. Furthermore, the bulk of the share can be attributed to the high disease burden in this region.
Strategies adopted by major market players will surge the industry demand
Some of the major market players operating in the animal healthcare industry are Boehringer Ingelheim International GmbH, Ceva Sante Animale, Dechra Pharmaceuticals, Elanco Animal Health, Merck & Co, Symrise, among others. These market players concentrate on strategic developments such as partnerships, new product launch & commercialization, vertical integration for business expansion. Furthermore, these players are heavily investing in R&D activities that enables them to innovate & capitalize on these products that further helps to garner maximum revenue in the market.
Impact of COVID-19 on animal healthcare market trends
The temporary lockdowns of manufacturing facilities, export restrictions, and higher demand for COVID-19 treatment led to supply disruptions and shortages of veterinary medications in several nations. To decrease the number of medications, governments are taking action. Additionally, the COVID-19 pandemic treatment recommendations for domestic animals were made by the Centers for Disease Control and Prevention to veterinarians in July 2020. As a result, it can be seen that the pandemic had a big impact on the marketplace that was being examined. Livestock producers were impacted in a number of ways by COVID-19 and the ensuing lockdown. Regarding the demand for veterinary health goods and services, the market has, however, regained pre-pandemic levels. In a short amount of time, the market is anticipated to experience substantial growth.
Animal healthcare market research report includes an in-depth coverage of the industry with estimates & forecast in terms of revenue in USD from 2018 to 2032, 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
- Drugs
- Medical Devices
- Veterinary Diagnostic Equipment
- Veterinary Anesthesia Equipment
- Veterinary 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 in production 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