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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

Animal Healthcare Market Size

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.

Animal Healthcare Market

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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.

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.

Animal Healthcare Market Analysis

Global Animal Healthcare Market Size, By Product

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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.

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.

Authors: Mariam Faizullabhoy, Gauri Wani

Frequently Asked Questions (FAQ) :

Global market for animal healthcare 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, on account of the increase in the adoption of companion animals among the elderly population.

Pharmaceuticals segment is predicted to register over 5% CAGR through 2032, as a result of the rising prevalence of zoonotic diseases and growing awareness of animal welfare among pet owners.

Europe animal healthcare market is expected to be valued at more than USD 64.5 billion by 2032, on account of the increase in spending on animal care and the implementation of favorable laws to protect animal health and welfare.

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 among the top players in the market.

Animal Healthcare Market Scope

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Premium Report Details

  • Base Year: 2022
  • Companies covered: 16
  • Tables & Figures: 641
  • Countries covered: 21
  • Pages: 306
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