Global Animal Health Market by Animal Type (Production, Companion), by Product (Pharmaceuticals, Diagnostics) and Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa), Forecast To 2028

Summary of the Report

Global animal health market was valued at USD 45.4 million in 2020. It is expected to increase at a compound annual rate (CAGR of 9.0%) between 2021 and 2028. This market is driven mainly by an increase in global food-borne and zoonotic diseases. Companies have been producing pharmaceuticals and vaccines to combat the unprecedented increase in disease incidence. Market growth has been aided by a rise in companies making continuous efforts to prevent food-borne disease and pathogen contamination. The overall market is expected to be driven by the increasing number of government initiatives that promote animal health products.

The UN Department of Economic and Social Affairs estimates that the world's population stands at 7.3 billion. This number is expected to rise to 9.7 billion by 2050. 795 million of these people are considered undernourished according to the International Fund for Agricultural Development. These statistics demonstrate the urgency of expanding food supply by large-scale livestock adoption.

The increased production of animal-based foods products will result in a significant price drop, making it easier to access affordable food. Technological advancements in veterinary care are also driving the market. These technological advances include efficient information management systems, mobile technology for animal owners, and vaccine banks.

Certain measures are helping to increase market growth prospects due to the increased focus on innovation in animal healthcare. The Innovative Medicines Initiative (IMI), a public-private partnership, supports collaborative research to increase innovation in veterinary pharmaceuticals in Europe.

Market for Animal Health: Market growth continues despite disruptions in supply chains caused by the pandemic

Product Insights

In 2020, the pharmaceutical segment accounted for more than 35% of the market's total revenue. The market's dominant position will be maintained throughout the forecast period due to continued advancements in veterinary medicines. Anti-inflammatory drugs, antibiotics and parasiticides are the most common types of pharmaceuticals. It is believed that the rise in pet ownership has accelerated the adoption of pharmaceuticals to increase longevity. Mergers and acquisitions are also key to segment growth. The acquisition of Bayer by Elanco resulted, for example, in multimarket distribution, including of their pharmaceutical products.

From 2021 to 2028, the veterinary diagnostics market is expected to grow at a profitable CAGR of 11.7%. Segment growth is due to a variety of factors including the growing number of veterinary professionals in developed countries, rising animal health expenditures, and increasing incidence of zoonotic disease. The expansion of manufacturing facilities is a key factor in market growth. Pet owners have noticed an increase in demand for Point-of-Care diagnostics such as pregnancy kits and blood glucose monitors. Due to the high sensitivity requirements for disease testing, food animal diagnostics are still limited to laboratories.

Distribution Channel Insights

In 2020, the majority of vet clinics and pharmacies held more than 51% of the market share. In 2020, the dominant share of the market was held by hospital pharmacies. This is due to high procedure volume and frequent readmissions of pets. A significant portion of the market was also represented by retail channels and online e-commerce platforms.

The forecast period will see a moderate increase in retail pharmacies selling animal health products at a moderate rate of CAGR. Major manufacturers only use licensed veterinarians and authorized distributors to distribute medications and vaccinations. This will drive segment growth during the forecast period. The forecast period will see an exponential increase in e-commerce/online pharmacies that sell animal health products. This is due to a variety of benefits, including increased convenience for patients who are unable to buy medicines at retail pharmacies or hospitals.

End-use Insights

The largest share, 73.0%, was held by veterinary hospitals and clinics in 2020. This segment holds the largest share due to a variety of applications such as clinical pathology and toxicology tests. This segment is driven by the availability of many treatment options and diagnostic options in veterinary clinics and hospitals.

Some vaccines can only be obtained in accredited veterinary clinics and hospitals. This has contributed to an increase in this end-use segment. Different government animal welfare agencies have published guidelines and standards for safety and practice in veterinary clinics and hospitals, which has increased the potential for segment growth over recent years.

The rising incidence of zoonotic disease due to globalization and climate change is expected to increase the demand for diagnostic procedures. This will drive the POC testing/in house testing segment over the next few years. One of the main factors driving the growth of this segment is the increasing awareness of companion animal owners about preventive care and the value it has for their pets. The effectiveness of ELISA tests for diagnosing heartworm has been established.

Information on Animal Types

With a share greater than 63.0%, the production animal segment was the dominant animal type segment in 2020. This large share can be attributed to the high level of concern by global government healthcare organisations for food safety, sustainability, and food safety. Different countries' policymakers are striving for total food security. This encourages large-scale food production as well as increased livestock rearing.

These policies aim to ensure long-term sustainability. This can be achieved by improving productivity and paying more attention to livestock veterinary care. The Food and Agriculture Organization states that animal-based foods account for one third of all protein consumed in emerging economies. This means that there must be an increase in livestock productivity. This is essential to meet the growing dietary requirements of the population. These factors are all responsible for the large share of this segment that is captured by production animals.

Regional Insights

North America accounted for 34.0% of the total revenue in 2020. This is due to the extensive range of measures taken by government animal welfare agencies that work continuously for animal health improvement. The market is expected to grow due to technological advances, rising incidences of zoonotic disease, and increasing pet ownership. Major companies have joined forces to improve their R&D capabilities, and to ensure that the quality standards are high. This will likely drive the market further. This is due to the region's high level of disease burden.

Asia Pacific will experience the fastest CAGR, 10.3%, over the next few years. This region's high growth is thought to be due to the consistent R&D investments of prominent players in animal health and their efforts at commercializing branded and generic therapeutics at low prices. This rapid growth can also be attributed to rising awareness regarding pet nutrition and supplies, and the increasing disposable income levels of emerging economies in Asia Pacific.

Market Share Insights & Key Companies

Market growth can be attributed to extensive regional expansion strategies and mergers and acquisitions. Merck Animal Health, for example, acquired Poultry Sense Limited in February 2021 to expand its portfolio of poultry products. Merck Animal Health increased its capacity for animal vaccine production by investing USD 100 million in its Kansas manufacturing facility. These kinds of initiatives will be a major driver for market growth over the next few years. The following are some of the major players in the global market for animal health:

• Zoetis

• Ceva Sante Animale

• Merck Animal Health

• Vetiquinol S.A.

• Boehringer Ingelheim GmbH

• Bayer AG

• Virbac

• Heska

• Nutreco N.V.

Up Market Research published a new report titled “Animal Health Market research report which is segmented by Animal Type (Production, Companion), by Product (Pharmaceuticals, Diagnostics), By Players/Companies Bayer AG, Merck Animal Health, Zoetis, Nutreco NV, Heska, Ceva Sant© Animale, Vetiquinol SA, Boehringer Ingelheim GmbH, Virbac”. As per the study the market is expected to grow at a CAGR of XX% in the forecast period.

Report Scope

The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.

Global Animal Health Market Report Segments:

The market is segmented by Animal Type (Production, Companion), by Product (Pharmaceuticals, Diagnostics).

Animal Health Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.

Key Benefits for Industry Participants & Stakeholders:

• Industry drivers, restraints, and opportunities covered in the study
• Neutral perspective on the market performance
• Recent industry trends and developments
• Competitive landscape & strategies of key players
• Potential & niche segments and regions exhibiting promising growth covered
• Historical, current, and projected market size, in terms of value
• In-depth analysis of the Animal Health Market

Overview of the regional outlook of the Animal Health Market:

Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA.

Highlights of The Animal Health Market Report:

1. The market structure and projections for the coming years.
2. Drivers, restraints, opportunities, and current trends of Animal Health Market.
3. Historical data and forecast.
4. Estimations for the forecast period 2028.
5. Developments and trends in the market.

                1. Production

                2. Companion

                1. Pharmaceuticals

                2. Diagnostics

8. Market scenario by region, sub-region, and country.
9. Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
10. Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
11. Government Policies, Macro & Micro economic factors are also included in the report.

We have studied the Animal Health Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2028.

How you may use our products:

• Correctly Positioning New Products
• Market Entry Strategies
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• Consumer Insights
• Understanding Competition Scenario
• Product & Brand Management
• Channel & Customer Management
• Identifying Appropriate Advertising Appeals

Reasons to Purchase the Animal Health Market Report:

• The report includes a plethora of information such as market dynamics scenario and opportunities during the forecast period
• Segments and sub-segments include quantitative, qualitative, value (USD Million,) and volume (Units Million) data.
• Regional, sub-regional, and country level data includes the demand and supply forces along with their influence on the market.
• The competitive landscape comprises share of key players, new developments, and strategies in the last three years.
• Comprehensive companies offering products, relevant financial information, recent developments, SWOT analysis, and strategies by these players.