Global Animal Health Market to Reach USD 93.49 Billion by 2030, Driven by Rising Prevalence of Zoonotic Diseases and Food-borne Infections

The Animal Health Market had a size of USD 39.52 Billion in 2021 and is expected to experience a revenue Compound Annual Growth Rate (CAGR) of 10.1% during the forecast period. The growth is being propelled by the rising incidence of zoonotic diseases and food-borne infections, which are prevalent worldwide. Researchers have estimated that more than 60% of human infections are caused by contact with infected animals, their living areas, or consuming contaminated food. For diseases such as rabies, which affects both animals and humans, the use of vaccines by veterinarians to control the illness and reduce the likelihood of it spreading is driving the animal health market's revenue growth.

Regulating and maintaining animal health to prevent the outbreak of animal diseases and harm to livestock is a critical aspect of ensuring the safety of the national food supply. Animal healthcare involves treating medical conditions in animals using appropriate medications, vaccinations, medicated animal foods, and diagnostic products.

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Key players in the Animal Health Market:

• Zoetis
• Elanco
• Merck & Co., Inc
• Ceva
• Vetoquinol
• Boehringer Ingelheim International GmbH
• Heska Corporation
• Virbac
• B. Braun SE
• Covetrus

On September 27, 2021, Boehringer Ingelheim, a global leader in animal health, and Invetx, a pioneer in protein-based therapeutics for animal health, announced a collaboration to create innovative, species-specific Monoclonal Antibody (mAb) biotherapeutics that target a wide range of veterinary species diseases, with a primary focus on cats and dogs. This collaboration highlights Boehringer Ingelheim's commitment to addressing unmet needs in the constantly expanding animal health industry. Furthermore, revenue growth in the animal health market is being fueled by governments worldwide concentrating on enhancing animal treatment facilities, implementing strict laws to improve animal health, and promoting animal adoption and protection.

Segments Covered in the Report -

The animal health market can be segmented based on several factors. One such segmentation is by animal type, which divides the market into two categories: production animals and companion animals.

Another way to segment the animal health market is by product type. This categorization includes vaccines, pharmaceuticals, feed additives, and diagnostics. These products play an important role in maintaining the health of animals.

Dosage outlook is another way to segment the animal health market. This categorization divides animal health products into four types: oral, parenteral, tropical, and transdermal. Each of these types has different administration methods and serves different purposes in animal healthcare.

The animal health market can also be segmented based on distribution channels. The major distribution channels are retail pharmacies and drug stores, e-commerce, and veterinary hospitals and clinics. These channels help to provide access to animal health products to consumers.

Finally, the animal health market can be segmented by end-use outlook. The two major categories are reference laboratories and point-of-care testing/in-house testing. These categories serve different purposes, with reference laboratories providing more in-depth testing services, and point-of-care testing/in-house testing providing more immediate and convenient testing services.

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Strategic development:

Biotech Laboratories USA LLC, a manufacturer of rapid assay tests, was acquired by Heska Corporation, a veterinary diagnostics company, on 8 October 2021. Biotech Holdings USA LLC sold its majority stake to Heska, which is involved in developing, selling, and manufacturing diagnostic and speciality veterinary tools. These include point-of-care testing products, digital imaging devices, and single-use tests. Biotech Laboratories, on the other hand, specializes in quick point-of-care testing for parasites and illnesses.

On 18 February 2021, Philippe Mauguin, CEO of INRAE, and Dr. Marc Prikazsky, Chairman & CEO of Ceva Santé Animale (Ceva), signed a framework agreement aimed at strengthening their collaboration in animal health. The agreement expresses a shared goal of working on One Health, a global health concept that intersects animal, human, and environmental health. The focus is on preventing infectious diseases of animal origin and improving animal welfare.

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