Home > Healthcare & Medical Devices > Animal Healthcare Market
Industry Statistics
Animal Healthcare Market size was valued at more than USD 150 billion in 2022 and is anticipated to record over 4.5% CAGR during the forecast period of 2023-2032.
Pet adoption has witnessed tremendous growth in recent years, as a result of the increasing social acceptance of pets. Pets are widely used as companion animals for senior citizens as they do not require exceptional care and nutrition.
Get more details on this report - Request Free Sample PDF
Adopting pets is also associated with improved health and well-being of the owners. Health benefits include low blood pressure and decreased symptoms of depression & loneliness. Owners are also becoming aware of the importance and benefits of regular health check-ups for their pets, further enhancing the demand for animal healthcare solutions.
| 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: | 639 |
| Segments covered: | Product, Animal Type, Distribution Channel, and Region. |
| Growth Drivers: |
|
| Pitfalls & Challenges: |
|
Get more details on this report - Request Free Sample PDF
However, high costs associated with animal care medications and devices may impede market progress to some extent. Major regulatory bodies are introducing various policies that might cause a considerable hike in animal medicine prices. For instance, a policy proposed by the U.S. FDA is projected to surge the cost of animal drugs by up to 300%, further hindering industry growth.
Animal pharmaceuticals emerge as effective solution for rising zoonotic disease burden
Get more details on this report - Request Free Sample PDF
Animal healthcare market value from the pharmaceuticals segment is predicted to register more than 5% CAGR through 2032. The rising prevalence of zoonotic diseases, growing feed output, and increased consumer awareness of animal welfare are some of the primary reasons driving the sales of animal pharmaceuticals. Viruses like the West Nile, which is a single-stranded RNA virus, can cause serious sickness and even death in horses, according to the World Health Organization (WHO). Animal healthcare systems are also becoming more efficient to facilitate early diagnosis, detection, and treatment of chronic diseases, further driving the consumption of animal pharmaceuticals.
Rise in meat-eating population to fuel adoption healthcare services for livestock animals
The livestock animals segment held a 38% share of the animal healthcare market in 2022 and is projected to exhibit similar progress during the forecast timeframe. Factors such as high demand for animal-sourced products and increasing meat consumption are positively influencing the industry share.
As per estimates published by the USDA Foreign Agricultural Service (FAS), the consumption of meat products has risen substantially over the years. On average, a U.S. citizen consumes close to 274 pounds of meat annually. The sales of dairy products have also risen considerably, which will drive the demand for animal healthcare products & services to ensure the optimum health of livestock animals.
Convenient access & round-the-clock availability boosts animal healthcare product sales via online channels
Get more details on this report - Request Free Sample PDF
Global animal healthcare market size from e-commerce distribution channels is estimated to witness more than 5.5% CAGR through 2032. Customers are increasing their preference for online pharmacies due to convenience, increased digitization, and lower drug pricing. E-commerce platforms give users the ability to pre-order drugs themselves, eliminating the need for a third-party provider. Online pharmacies also provide better access and round-the-clock availability, making them popular channels for the purchase of animal healthcare products among customers.
Supportive animal health laws will promote Europe industry expansion
Get more details on this report - Request Free Sample PDF
Europe animal healthcare market is expected to be valued at more than USD 64.5 billion by 2032. This is attributed to several factors, including the surge in animal care expenditure, the rising prevalence of zoonoses & infectious veterinary diseases, and expanding pet population. The introduction of favorable laws to support animal health will also augment the usage of animal healthcare products in Europe. Moreover, the surge in pet adoption for companionship is encouraging owners to seek effective veterinary care services. These factors, alongside the robust sales of medicated feed additives, may therefore accelerate regional market statistics.
Collaborative initiatives among key players to define market landscape
Boehringer Ingelheim International GmbH, Medtronic PLC, Dechra Pharmaceuticals, Elanco Animal Health, Merck & Co, Symrise, Ceva Sante, Vetoquinol, Virbac SA, Zoetis, IDEXX Laboratories, HIPRA, Endovac Animal Health, B. Braun Vet Care, Sklar Surgical Instruments, and Neogen Corporation, among others, are the top players in the animal healthcare market. Many companies are entering into partnership deals and merger & acquisition agreements to create innovative therapies and enhance the quality of care offered to animals.
Impact of COVID-19 pandemic on animal healthcare industry forecasts
The COVID-19 pandemic severely impacted various facets of the global economy, including the healthcare industry, by inflicting financial adversities and slowing firms’ production capacity. However, the market remained considerably stable during the pandemic and is expected to witness a positive growth trajectory throughout the analysis timeframe. This is attributed mainly to the robust demand from consumers for animal drugs and medical products to ensure the well-being of their pets.
The animal healthcare market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD Million 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 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
Frequently Asked Questions (FAQ) :