Animal Health Market Size, Share, Trends & Forecast | 2034

Animal Health Market Outlook

According to the report by Expert Market Research (EMR), the global animal health market size attained a value of USD 59.24 billion in 2024. Aided by the increasing awareness of animal health, the growing demand for meat and dairy products, and the rising focus on the well-being of pets and livestock, the market is projected to further grow at a compound annual growth rate (CAGR) of 6.4% between 2025 and 2034, reaching a value of USD 103.56 billion by 2034.

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The animal health market plays a pivotal role in ensuring the well-being of animals, whether they are pets, livestock, or wildlife. The market encompasses a broad range of products and services, including vaccines, antibiotics, anti-parasitic treatments, diagnostic tests, and nutritional supplements. As the global demand for animal protein rises and concerns about food security increase, the need for effective animal health solutions becomes more critical. Moreover, the growing trend of pet humanization has further elevated the importance of veterinary care and the overall health of companion animals, fueling the expansion of the animal health market.

Key Market Drivers

Rising Demand for Animal Protein: The increasing demand for animal protein is one of the primary drivers of the global animal health market. As the global population grows, so does the need for food products such as meat, dairy, and eggs, which are rich sources of protein. To meet the demand, farmers and livestock owners are investing more in animal health to enhance the productivity and quality of their livestock. The need to improve the health and yield of animals has resulted in the adoption of advanced animal health solutions, including vaccines, growth promoters, and disease prevention treatments.

Furthermore, the rising affluence of populations in developing countries, particularly in Asia and Africa, has led to a greater consumption of animal-based products. As these regions experience economic growth, the demand for animal-derived food products is expected to rise, driving the need for more efficient and sustainable animal health solutions.

Increased Focus on Pet Care: Another major factor contributing to the growth of the animal health market is the increased focus on pet care. The trend of pet humanization, where pets are seen as family members, has led to greater spending on their health and well-being. Pet owners are now more willing to invest in veterinary services, pet medications, health supplements, and preventive care to ensure their pets lead long, healthy lives.

In addition to traditional pets like dogs and cats, the popularity of exotic pets and the increasing awareness of zoonotic diseases (diseases transmitted from animals to humans) have heightened the demand for comprehensive veterinary care. This, in turn, has propelled the growth of the animal health market in companion animals. With increasing disposable income and a growing awareness of animal welfare, pet owners are expected to continue to drive market growth in the coming years.

Advancements in Veterinary Medicine: The continuous advancements in veterinary medicine have also been a key factor driving the global animal health market. As research and development in veterinary science progress, new vaccines, treatments, and diagnostic tools are being introduced, offering more effective solutions for managing diseases in animals. Innovations in gene therapy, biotechnology, and personalized medicine are opening up new frontiers in animal health, improving the prevention and treatment of various diseases in livestock and companion animals.

For example, new technologies such as CRISPR-based gene editing have shown potential in developing disease-resistant livestock, which could significantly reduce the need for antibiotics and other treatments. Moreover, diagnostic tools that can detect diseases earlier and more accurately are helping veterinarians provide better care, contributing to the overall growth of the animal health sector.

Rising Concerns Over Animal Diseases: The rising concerns over animal diseases, both zoonotic and non-zoonotic, have driven the need for better animal health management. Diseases like avian influenza, African swine fever, and bovine tuberculosis have not only caused significant economic losses but also raised public health concerns. The outbreak of such diseases has underscored the importance of investing in disease prevention, vaccination programs, and robust animal health surveillance systems.

To mitigate the spread of animal diseases, governments and private entities are increasingly investing in animal health solutions, including biosecurity measures, diagnostics, and vaccination campaigns. Additionally, the heightened focus on food safety and traceability has led to stricter regulations in the animal health industry, driving demand for high-quality and reliable health solutions for livestock and pets.

Sustainability and Regulatory Pressures: Sustainability is becoming an increasingly important focus in the global animal health market. Consumers and regulators are demanding more sustainable practices in animal farming, particularly with regard to antibiotic use. The overuse of antibiotics in livestock farming has raised concerns about the development of antimicrobial resistance (AMR), which could pose significant risks to both animal and human health.

As a result, there is a growing shift towards more responsible antibiotic use and alternative treatments for animals. This has led to the development of new classes of antimicrobial drugs and the promotion of probiotics and prebiotics as viable alternatives. Additionally, governments are implementing stricter regulations regarding the use of antibiotics in animals, further driving innovation in animal health products and solutions.

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Animal Health Market Segmentation

The market can be divided based on animal type, product type, end use, and region.

Market Breakup by Animal Type

Commercial Animals

Poultry
Swine
Cattle
Sheep and Goat
Others

Companion Animals

Dogs
Cats
Others

Market Breakup by Product Type

Vaccines
Pharmaceuticals
Feed Additives
Diagnostics
Others

Market Breakup by End Use

Veterinary Hospitals and Clinics
Animal Care and Rehabilitation Centres
Diagnostics Centres
Others

Market Breakup by Region

North America
Europe
Asia Pacific
Latin America
Middle East and Africa

Competitive Landscape

Some of the major key players explored in the report by Expert Market Research are as follows:

Elanco Animal Health Incorporated
Merck Animal Health
Zoetis Inc.
Biogenesis Bago
Boehringer Ingelheim International GmbH
Ceva Sante Animale
Heska Corporation
IDEXX Laboratories, Inc.
Virbac S.A.
Vetoquinol SA
Others

Challenges in the Market

High Costs of Animal Health Products: One of the major challenges facing the Animal Health Market is the high cost of certain products, especially for small-scale farmers in developing countries. Veterinary care, vaccines, and other animal health treatments can be expensive, and many farmers struggle to afford them. This can limit access to essential healthcare for animals, especially in regions with limited resources.

Additionally, the cost of developing and manufacturing new animal health products is high, which can make it difficult for smaller companies to compete with larger players in the market. As the demand for more advanced and effective treatments increases, the need for affordable solutions will become even more pressing.

Lack of Awareness in Developing Regions: While the animal health market is growing rapidly, there is still a lack of awareness about animal health management practices in many developing regions. In some areas, traditional practices dominate, and modern veterinary care is not always accessible or well-understood. Educating farmers and pet owners about the importance of preventive care, vaccinations, and disease management is crucial to improving animal health outcomes globally.

Efforts to raise awareness and improve access to veterinary care are needed, particularly in rural areas where animal health infrastructure is often lacking.

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