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
Pandemic Impact |
Outlook after COVID |
Despite the disruption caused by the COVID-19 pandemic in 2019, the animal health market saw a steady growth rate of 8% between 2019 and 2020. Comparatively to other markets, the economic downturn in animal health is much less severe than elsewhere. |
It is likely that veterinarians will see a shift in their business models. The majority of traditional veterinary practices' revenues come from high-margin product sales like pharmaceuticals. As telehealth is becoming more popular, there will be a greater demand for expertise and knowledge. |
During the pandemic, telemedicine has seen a significant increase in popularity. eCommerce is the preferred channel for pet owners to purchase vet products and pet food. E-Commerce saw a 10.7% growth rate. |
The sector of animal healthcare is recovering faster than other industries. To gain a competitive advantage, large-scale animal healthcare companies are using innovative strategies. |
Major market players saw growth during the pandemic, despite restrictions and disruption to supply chains. IDEXX saw a 12% increase year-on-year in revenue due to the Companion Animal Group's (CAG), diagnostics segment. This was in December 2020. |
Market consolidation will continue. Merck Animal Health, for instance, acquired Poultry Sense Ltd. on February 20, 2021 in order to increase its poultry business and provide technology in environmental monitoring and health. |
Elanco's Q3 2020 revenue increased by 15% compared to Q3 2019. There was also a notable recovery in the pet industry. Elanco's international livestock business continued to be affected by unfavorable macroeconomic trends and decreased consumption trends. |
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:
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Zoetis
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Ceva Sante Animale
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Merck Animal Health
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Vetiquinol S.A.
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Boehringer Ingelheim GmbH
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Bayer AG
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Virbac
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Heska
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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
Report Attributes | Report Details |
Report Title | Animal Health Market Research Report |
By Animal Type | Production, Companion |
By Product | Pharmaceuticals, Diagnostics |
By Companies | Bayer AG, Merck Animal Health, Zoetis, Nutreco NV, Heska, Ceva Sant© Animale, Vetiquinol SA, Boehringer Ingelheim GmbH, Virbac |
Regions Covered | North America, Europe, APAC, Latin America, MEA |
Base Year | 2020 |
Historical Year | 2018 to 2019 (Data from 2010 can be provided as per availability) |
Forecast Year | 2028 |
Number of Pages | 220 |
Number of Tables & Figures | 154 |
Customization Available | Yes, the report can be customized as per your need. |
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:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of Animal Health Market.
- Historical data and forecast.
- Estimations for the forecast period 2028.
- Developments and trends in the market.
1. Production
2. Companion
7. By Product:1. Pharmaceuticals
2. Diagnostics
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- 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
- Business Expansion Strategies
- 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.
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Animal Health Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Animal Health Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Animal Health Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Animal Health Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Animal Health Market Size & Forecast, 2018-2028
4.5.1 Animal Health Market Size and Y-o-Y Growth
4.5.2 Animal Health Market Absolute $ Opportunity
Chapter 5 Global Animal Health Market Analysis and Forecast by Animal Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Animal Type
5.1.2 Basis Point Share (BPS) Analysis by Animal Type
5.1.3 Absolute $ Opportunity Assessment by Animal Type
5.2 Animal Health Market Size Forecast by Animal Type
5.2.1 Production
5.2.2 Companion
5.3 Market Attractiveness Analysis by Animal Type
Chapter 6 Global Animal Health Market Analysis and Forecast by Product
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Product
6.1.2 Basis Point Share (BPS) Analysis by Product
6.1.3 Absolute $ Opportunity Assessment by Product
6.2 Animal Health Market Size Forecast by Product
6.2.1 Pharmaceuticals
6.2.2 Diagnostics
6.3 Market Attractiveness Analysis by Product
Chapter 7 Global Animal Health Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Animal Health Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Animal Health Analysis and Forecast
9.1 Introduction
9.2 North America Animal Health Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Animal Health Market Size Forecast by Animal Type
9.6.1 Production
9.6.2 Companion
9.7 Basis Point Share (BPS) Analysis by Animal Type
9.8 Absolute $ Opportunity Assessment by Animal Type
9.9 Market Attractiveness Analysis by Animal Type
9.10 North America Animal Health Market Size Forecast by Product
9.10.1 Pharmaceuticals
9.10.2 Diagnostics
9.11 Basis Point Share (BPS) Analysis by Product
9.12 Absolute $ Opportunity Assessment by Product
9.13 Market Attractiveness Analysis by Product
Chapter 10 Europe Animal Health Analysis and Forecast
10.1 Introduction
10.2 Europe Animal Health Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Animal Health Market Size Forecast by Animal Type
10.6.1 Production
10.6.2 Companion
10.7 Basis Point Share (BPS) Analysis by Animal Type
10.8 Absolute $ Opportunity Assessment by Animal Type
10.9 Market Attractiveness Analysis by Animal Type
10.10 Europe Animal Health Market Size Forecast by Product
10.10.1 Pharmaceuticals
10.10.2 Diagnostics
10.11 Basis Point Share (BPS) Analysis by Product
10.12 Absolute $ Opportunity Assessment by Product
10.13 Market Attractiveness Analysis by Product
Chapter 11 Asia Pacific Animal Health Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Animal Health Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Animal Health Market Size Forecast by Animal Type
11.6.1 Production
11.6.2 Companion
11.7 Basis Point Share (BPS) Analysis by Animal Type
11.8 Absolute $ Opportunity Assessment by Animal Type
11.9 Market Attractiveness Analysis by Animal Type
11.10 Asia Pacific Animal Health Market Size Forecast by Product
11.10.1 Pharmaceuticals
11.10.2 Diagnostics
11.11 Basis Point Share (BPS) Analysis by Product
11.12 Absolute $ Opportunity Assessment by Product
11.13 Market Attractiveness Analysis by Product
Chapter 12 Latin America Animal Health Analysis and Forecast
12.1 Introduction
12.2 Latin America Animal Health Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Animal Health Market Size Forecast by Animal Type
12.6.1 Production
12.6.2 Companion
12.7 Basis Point Share (BPS) Analysis by Animal Type
12.8 Absolute $ Opportunity Assessment by Animal Type
12.9 Market Attractiveness Analysis by Animal Type
12.10 Latin America Animal Health Market Size Forecast by Product
12.10.1 Pharmaceuticals
12.10.2 Diagnostics
12.11 Basis Point Share (BPS) Analysis by Product
12.12 Absolute $ Opportunity Assessment by Product
12.13 Market Attractiveness Analysis by Product
Chapter 13 Middle East & Africa (MEA) Animal Health Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Animal Health Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Animal Health Market Size Forecast by Animal Type
13.6.1 Production
13.6.2 Companion
13.7 Basis Point Share (BPS) Analysis by Animal Type
13.8 Absolute $ Opportunity Assessment by Animal Type
13.9 Market Attractiveness Analysis by Animal Type
13.10 Middle East & Africa (MEA) Animal Health Market Size Forecast by Product
13.10.1 Pharmaceuticals
13.10.2 Diagnostics
13.11 Basis Point Share (BPS) Analysis by Product
13.12 Absolute $ Opportunity Assessment by Product
13.13 Market Attractiveness Analysis by Product
Chapter 14 Competition Landscape
14.1 Animal Health Market: Competitive Dashboard
14.2 Global Animal Health Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Bayer AG
14.3.2 Merck Animal Health
14.3.3 Zoetis
14.3.4 Nutreco NV
14.3.5 Heska
14.3.6 Ceva Sant© Animale
14.3.7 Vetiquinol SA
14.3.8 Boehringer Ingelheim GmbH
14.3.9 Virbac