Ottawa, April 13, 2022 (GLOBE NEWSWIRE) -- The global animal healthcare market size was reached at US$ 53.15 billion in 2021. The animal health care market is care provided to mostly to domestic and pet animals. The growing prevalence of diseases among animals is creating lucrative opportunities for the growth of the global animal health care market during the forecast period. Furthermore, the expansion of online sales channel is also driving the demand for the market. The key players operating in the global animal health care market are continuously striving for the expansion of their market. For this, they are investing in research and development activities for launching new and innovative products in the animal health care market.
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The demand for good food for pet animals is rising. This has resulted into increased in demand for pet food for animals. The major consumer goods companies and firms are launching new product line in animal health care products which includes pet food, pet milk, and pet accessories. The major market players are launching medications and vaccines for the treatment of animals on a large scale. The animals get infected very easily. To avoid such circumstances, animals are vaccinated periodically. As a result, major market players are launching vaccines that will protect animals from certain kind of viruses and pathogens.
In addition, the animal health care market is expanding due to rising government and non-governmental organizations’ initiatives for the promotion and campaigns for the animal health care. Various projects have been launched by governments of various regions in favor of animal health care. All of these aforementioned factors are boosting the growth of the global animal health care market during the forecast period.
| Report Attributes | Details |
| Market Size in 2021 | USD 53.15 Billion |
| Growth Rate | CAGR of 4.2% from 2022 to 2030 |
| Largest Market | North America |
| Fastest Growing Market | Asia Pacific |
| Companies Covered | Elanco, Bayer, Dechra Pharmaceuticals, Neogen, Boehringer Ingelheim, Merck & Co, Inc., Zoetis, Nutreco N.V., Virbac, Vetquinol S.A. |
Report Highlights:
- Based on the product, the pharmaceutical segment dominated the global animal healthcare market in 2021 with largest market share 34%. The factors contributing to an exponential rise in illness frequency have prompted companies to develop enhanced vaccines and medications, which is driving up demand for this market.
- Based on the end use, the veterinary hospitals and clinics segment dominated the global animal healthcare market in 2021 with largest market share 73.5%. The increasing demand and supply of vaccines, medications, and medicated feed additives, as well as the rising occurrence of zoonotic diseases, expanding feed output, and greater consumer awareness, all contribute to this segment’s growth.
- North America is the largest segment for animal healthcare market in terms of region and garnered 30% in 2021. Major corporations have collaborated to improve their research and development skills and assure high-quality standards, which is expected to drive demand even higher across the region. The majority of the share can also be linked to the region’s high disease burden.
- Asia-Pacific region is the fastest growing region in the animal healthcare market. The exponential increase can also be attributed to rising pet nutrition and supply awareness, as well as rising disposable income levels in Asia-Pacific’s emerging economies.
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Future of Animal Healthcare Market
The increasing prevalence of animal diseases and their spread to humans, as well as the growing demand for protein-rich diets, has resulted in commercial milk and meat cattle farming, as well as an increasing trend of companion animal adoption and regulatory agencies making companion animal immunization mandatory, will result in the animal healthcare market growing and deepening its market penetration. The development of medications for animal care has become more important as the animal population has grown and disease incidence has increased. Every year, a slew of new animal ailments emerges, providing opportunity for pharmaceutical businesses to introduce cutting-edge animal health treatments.
COVID-19 Impact Analysis:
- The COVID-19 epidemic has impacted the whole healthcare industry, including animal health.
- Initially, there was a considerable risk of animals becoming infected as a result of their close proximity to humans.
- Various market players for animal health care responded to the necessity and demand for COVID-19 testing kits for animals by launching their own solutions to assist veterinarians.
Key Developments in the Marketplace:
- In February 2021, Merck Animal Health acquired Poultry Sense Limited, expanding its poultry product line.
- In July 2020, Merck Animal Health doubled its animal vaccine production capacity in its Kansas manufacturing facility by USD 100 million.
- In July 2020, Zoetis, a company that develops and commercializes fish vaccines as well as provides immunization and diagnostic services for aquaculture, purchased Fish Vet Group. Zoetis has increased its regional presence and improved its diagnostics and testing capabilities in key aquaculture markets throughout the world as a result of this acquisition.
- Bayer finalized the sale of its Animal Health business unit to Elanco Animal Health Incorporated in August 2020.
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Market Segmentation
By Animal Type
- Production Animal
- Poultry
- Swine
- Cattle
- Fish
- Others
- Companion Animal
- Dogs
- Cats
- Horses
- Others
By Product
- Vaccines
- Live Attenuated Vaccines
- DNA Vaccines
- Recombinant Vaccines
- Inactivated Vaccines
- Others
- Pharmaceuticals
- Parasiticides
- Anti-infective
- Anti-inflammatory
- Analgesics
- Others
- Feed Additives
- Diagnostics
- Instruments
- Consumables
- Equipment and Disposables
- Critical Care Consumables
- Anesthesia Equipment
- Fluid Management Equipment
- Temperature Management Equipment
- Rescue & Resuscitation Equipment
- Research Equipment
- Patient Monitoring Equipment
- Others
- Veterinary Telehealth
- Veterinary Software
- Livestock Monitoring
By Distribution Channel
- Retail Pharmacy
- E-commerce
- Hospital Pharmacy
By End Use
- Reference Laboratories
- Point of care testing/ in-house testing
- Veterinary Hospitals & Clinics
- Others
By Treatments
- Allergies
- Arthritis
- Difficult Dermatology Cases
- Gastrointestinal Disease
- Others
By Geography
- North America
- Europe
- Asia-Pacific
- Latin America
- Middle East & Africa (MEA)
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