Animal Healthcare Market size worth around $172 Bn by 2025

Animal Healthcare Market size is set to exceed USD 172 billion by 2025; according to a new research report by Global Market Insights, Inc.
 

The animal healthcare market growth is primarily driven by growing livestock & pet animal populations and increasing awareness regarding their health issues and conditions. Furthermore, increasing market demand for animal products such as meat and dairy will further provide lucrative growth opportunities.

 

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Increasing demand for animal protein will boost market growth

Livestock animals such as swine, fish, poultry, cattle and others are reared for their meat and other animal products such as dairy, wool, and leather. The rising livestock animal populations and growing market demand for drugs to manage their health conditions and maximize meat and milk production will boost the animal healthcare industry growth.
 

With the growing adoption of pets, owners are increasingly concerned about their health and well-being. As per adoption statistics, the U.S. has more than 135 million pets in American homes. Thus, increasing incidences of pet parenting across the world will considerably augment the market growth. However, high cost of animal healthcare drugs and increasing incidences of zoonotic diseases will inhibit the market growth over the analysis timeframe.
 

Increasing population of livestock animals to make feed additives lead the product segment

The pharmaceutical animal healthcare market segment is bifurcated into drugs, vaccines, and medicated feed additives. Drugs include antiparasitic, anti-inflammatory, and anti-infectives. Vaccines are classified as modified live vaccines and killed inactivated vaccines. Medicated feed additives are divided into antibiotics, vitamins, amino acids, enzymes, prebiotics and probiotics, and minerals. The medical devices for animal healthcare include veterinary diagnostic, anesthesia, patient monitoring, and veterinary surgical equipment. Due to the growing populations of livestock animals, the market demand for nutrient-rich feed has increased that will positively impact the medicated feed additive segment. The medical devices segment will witness around 4% CAGR over the forecast period.
 

Browse key industry insights spread across 220 pages with 321 market data tables & 8 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, 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)) Regional Outlook (U.S., Canada, Germany, UK, France, Italy, Spain, Poland,  The Netherlands, China, India, Japan, Australia, South Korea, Taiwan, Brazil, Mexico, Argentina, South Africa, GCC Countries, Israel), Price Trends, Application Potential, Competitive Market Share & Forecast, 2019 – 2025” in detail along with the table of contents:

https://www.gminsights.com/industry-analysis/animal-healthcare-market
 

Obligatory immunizations will propel companion animals segment growth

The livestock animals are divided into poultry, swine, cattle, and fish. The companion animals include dogs, cats, and horses. The companion animal healthcare market segment holds around 60% industry share in 2018. Increased incidence of zoonotic diseases has resulted in mandatory immunization by regulatory bodies. This will contribute to the market growth.
 

Strong distribution network contributes to a large segment share in the market

The market by distribution channel is segmented into pharmacies, online, and distributors. Distributors occupy the maximum market share in 2018, valued over USD 55 billion. The factors contributing to this are the strong geographical network, and comprehensive product and service portfolio offered by distributors.
 

Strong foothold of industry players makes North America a lucrative market

The North America animal healthcare market share is poised to witness around 3.3% CAGR over the analysis timeframe. This is majorly due to surge of animal diseases in the region and strong presence of industry players and animal healthcare hospitals, clinics, and pharmacies. Furthermore, the presence of major government organizations for animal healthcare such as the North America Pet Health Insurance Association creates a favorable reimbursement scenario. Such factors will boost regional market growth.
 

Large consumer base for animal healthcare products will offer several growth opportunities to the market players

Some of the major players operating in animal healthcare market share include Bayer, Boehringer Ingelheim, Dechra Pharmaceuticals, Elanco, Merck, Zoetis, B. Braun Vet Care, Medtronic, IDEXX Laboratories, and Neogen. These companies are adopting various organic and inorganic growth strategies such as new product launches, geographical expansion, partnerships, and mergers to increase market share.
 

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