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Animal Healthcare Market size to surpass $238Bn by 2032

  • Published Date: January 11, 2023

Animal Healthcare Market size is expected to reach USD 238 billion by 2032, as per a new research report announced by Global Market Insights Inc.

Governments across the world are laying down various rules and regulations to promote animal protection. Animal rights organizations are also taking several measures to curb animal abuse. Global bodies like People for the Ethical Treatment of Animals (PETA), for instance, are promoting animal adoption, while the Animal Welfare Board of India (AWBI) has issued various grants. These initiatives are enabling the maintenance of sheltered and rescued animals through the construction of shelter houses, as well as birth control and immunization.

Rise in demand for animal surgeries boost use of innovative medical devices

Animal healthcare market value from medical devices is predicted to cross USD 63.5 billion by 2032. The average number of animal surgeries is increasing every year, which has promoted the demand for adequate veterinary care. There have also been significant developments in monitoring & therapy alternatives, such as ventilation assistance, IV fluid therapy, temperature regulation, and pain control, among others. Technological advancements in veterinary medical devices are thus likely to fuel product consumption.

Browse key industry insights spread across 306 pages with 623 market data tables & 16 figures & charts from the report, “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 Anesthesia Equipment, Veterinary Animal type 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, E-commerce, Distributors), Industry Analysis Report, Growth Potential, Competitive Market Share & Forecast, 2023 – 2032” in detail along with the table of contents:

Need for easier access to advanced animal care products to drive establishment of pharmacies

The increasing number of animal surgeries due to growing awareness about livestock & companion animal health as well as easier access to advanced products at medical facilities are poised to increase the need for pharmacies. Also, the rising presence of sophisticated and technologically advanced instruments in veterinary pharmacies is projected to expand their network over the forecast timeframe.

Increasing meat consumption will expand Asia Pacific animal healthcare industry size

Asia Pacific animal healthcare market revenue is estimated to record over 5.5% CAGR during 2023 to 2032. The burgeoning demand for meat and other animal-based products, surging prevalence of zoonotic & infectious diseases, increasing penetration of pet insurance, and rising adoption of pets are likely to accelerate regional market progress.

Innovative product launch initiatives to strengthen market forecast

Ceva Sante, Elanco Animal Health, HIPRA, Symrise, Dechra Pharmaceuticals, Vetoquinol, Virbac SA, Zoetis, Medtronic, Endovac Animal Health, Sklar Surgical Instruments, IDEXX Laboratories, B. Braun Vet Care, and Neogen Corporation are some of the reputed players operating in the animal healthcare market.

Authors: Sumant Ugalmugle, Rupali Swain