The value of the Animal Healthcare market is projected to grow to USD 80.901 Billion with an estimated CAGR of 8.20 % by 2028
Growing living standard, Increasing population, and rising per capita income are some major factors driving to the growth of milk and meat consumption across the globe. Likewise, rising demand for protein-rich food such as milk, meat, and eggs, contributing to the making of farm animals worldwide. Further, owing to increasing risk of infection of animal diseases to humans and the rising demand for meat from regions such as the Japan, U.S., China, and Brazil, the requirement for animal healthcare products is rising across the globe.
Geographically, North America region seized one of the largest animal healthcare market, owing to factors such as it houses huge animal population both meat cattle and milch, increasing need for protein rich diet and growing incidences of animal disease. Similarly, Asia-Pacific region will be the wildest growing animal healthcare market, mainly due to factors such as increasing occurrence of zoonotic, incidence of key market players include in the manufacturing of animal healthcare products and required immunization of animals by the supervisory agencies and advanced disposable income to have companion animals.
Growing number of public and private sector collaborations is one of the key factor of animal healthcare market trends. The different public & private partnerships has augmented in recent years between private veterinarians and veterinary service providers; veterinary service providers and private industries; and livestock providers and veterinary laboratories; focusing on animal health.
The global animal healthcare market size segmentation based on animal type, drug type, distribution channel, and route of administration. On the basis of drug type, this market is sub-segmented into anti-infective agents, anti-inflammatory, parasitic ides, hormones & substitute, vaccines, and others. By animal type, the global animal healthcare market is classified as farm animals and companion animals. Among these, companion animals segment, further categorized into equine, canine, and feline, the canine type accounted for one of the largest global animal healthcare market share, in 2017. This can be majorly attributed to the increasing adoption of companion animals (especially dogs) and the rising expenditure on their health across the world. On the basis of route of administration, this market is sub-segmented into oral, parental, topical, and others. Based on distribution channel, the market is categorized into veterinary hospitals, veterinary clinics, online pharmacies, and pharmacies & drug stores.
Global animal healthcare market key players:
- Ceva Sante Animal
- Bayer Healthcare AG
- Vetoquinol SA
- Virbac S.A
- Boehringer Ingelheim GmbH
- Sanofi S.A.
- Nutreco N.V.
Animal Healthcare Market Scope
|Forecast Unit||Value (USD)|
|Revenue forecast in 2028||USD 80.901 Billion|
|Growth Rate||CAGR of 8.20% during 2021-2028|
|Segment Covered||Product, By Mode of Purchase, Regions|
|Regions Covered||North America, Europe, Asia Pacific, Middle East and Africa, South America|
|Key Players Profiled||Boehringer Ingelheim GmbH, Virbac SA, Elanco, Bayer AG, Intas Pharmaceuticals, Zydus Animal Health, Merck Animal Health, Zoetis, Inc., Vetoquinol SA, Ceva Sante Animale.|
Global animal healthcare segmented into:
By Animal Type
- Sheep and Goats
- DNA Vaccines
- Vive Attenuated Vaccines
- Inactivated Vaccines
- Recombinant Vaccines
- Feed Additives
By Distribution Channel
- Veterinary Clinics and Hospitals
- In-house testing
- Veterinary Hospitals and Clinics
- Reference Laboratories
- North America
- Asia Pacific
- South Korea
- Latin America
- Middle East and Africa
- Saudi Arabia
- South Africa
- United Arab Emirates