Animal Healthcare Market Forecast: Veterinary Drugs, Diagnostics, and Pet Care Industry Trends

InsightAce Analytic Pvt. Ltd. announces the release of a market assessment report on the "Animal Health Market"-, By Product (Pharmaceuticals, Biologics, Medicinal Feed Additives, Diagnostics, Equipment & Disposables, Others) By Animal (Companion Animals, Production Animals), By Distribution Channel (Hospital/ Clinic Pharmacy, Retail, E-commerce), By End User (Veterinary Hospitals & Clinics, Veterinary Reference Laboratories, Home Use, Others), and Global Forecasts, 2024-2031 And Segment Revenue and Forecast To 2031."

Animal Health Market Size is valued at USD 62.3 Bn in 2024 and is predicted to reach USD 128.7 Bn by the year 2034 at an 7.5% CAGR during the forecast period for 2025-2034.

Global Animal Health Market 2025-2034 full Research Repot latest version is now available.

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Animal healthcare involves the proper application of medications, vaccines, medicated animal diets, and diagnostic tools to treat medical diseases affecting animals. Animals play a crucial role in human existence by providing companionship, food, and protection, and they are also widely used as models in biological research, including drug testing and genetics. The demand for animal healthcare products is expected to rise due to increased awareness of animal diseases, stricter regulations, and a greater focus on preventing disease outbreaks caused by animal epidemics. As a result, the animal health market is experiencing significant growth worldwide. The increasing global demand for protein and other food products has further emphasized the need for an improved animal healthcare system.

Major market players are developing modern medications to address the rising number of animal ailments, and the pharmaceutical industry has introduced various immunizations to prevent numerous animal diseases. Additionally, several industries have implemented measures to reduce the risk of foodborne illnesses and pathogens, thereby preventing animal infections. The COVID-19 pandemic also had a notable impact on the animal healthcare system, leading to a steady increase in demand throughout the outbreak.

In April 2024, Zoetis Inc. and Phibro Animal Health Corporation announced that Phibro Animal Health would acquire Zoetis' medicated feed additive (MFA) product portfolio, along with some water-soluble products and related assets, for $350 million, subject to usual closing adjustments. This deal is expected to be finalized in the second half of 2024. According to data from the animal health sector, there is a growing trend toward preventative healthcare for both livestock and companion animals, as pet owners and livestock producers recognize the importance of early detection and proactive health management to enhance animal well-being and reduce disease risks. Meanwhile, rapid advancements in biotechnology and pharmaceuticals are transforming the diagnosis and treatment of animal diseases.

Cutting-edge research and innovative technologies are driving the development of customized treatments, vaccines, and precision medications for specific animal species and medical conditions. Breakthroughs in biotechnology, including DNA sequencing, polymerase chain reaction (PCR), gene editing, and cell therapies, offer promising solutions for complex illnesses. Additionally, pharmaceutical companies continue to invest in research and development (R&D) to create safer and more effective medications for animals.

List of Prominent Players in the Animal Health Market:
• Virbac S.A.
• NEOGEN Corporation
• Zoetis Inc.
• Vetoquinol S.A.
• Dechra Pharmaceuticals plc
• Mars Inc.
• Animalcare Group plc
• Bimeda
• Biognesis Bag
• Bioveta
• China Animal Husbandry Industry Company
• Chanelle
• ImmuCell Corporation
• Laboratorios CALIER, S.A
• HIPRA, S.A.
• Norbrook Laboratories
• Alembic Animal Health
• Boehringer Ingelheim GmbH
• Elanco
• IDEXX Laboratories, Inc.
• Ceva Santé Animale
• Merck & Co Inc.

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Market Dynamics:
Drivers:
The rising number of pet owners, particularly among Millennials and Gen Z, is driving the growth of the the market, with increasing demand for innovative tools to enhance pet care, safety, and health management. Simultaneously, the growing global demand for meat, milk, and eggs is fueling investments in livestock health through vaccines, feed additives, and disease prevention measures. Additionally, governments and regulatory bodies are enforcing stricter animal welfare and food safety regulations, promoting the adoption of vaccines, antimicrobial alternatives, and effective disease management strategies.

Challenges:
Strict government regulations on animal drug approvals pose a challenge to market growth, with all drugs requiring approval from the U.S. Food and Drug Administration before being sold in the U.S. According to the Animal Health Institute, developing a new animal drug can take up to 10 years and cost over USD 100 million. Additionally, the high costs of advanced treatments, diagnostics, and veterinary services further limit access to quality animal healthcare, especially in developing regions.

Regional Trends:
North America has the largest market share during the forecast period. The government animal care agencies' broad variety of decisive initiatives, which continuously aim for overall improvement, are responsible for the dominating share. For example, the existence of Animal Health Emergency Management (AHEM) focuses on quality, safety, and affordability issues related to animal products to guarantee food security. Furthermore, these groups concentrate on managing unexpected illness outbreaks, preventing harmful agents, and developing effective methods for disease eradication and control. However, The Asia-Pacific region is the fastest-growing in the animal health market.

Increasing disposable income and changing lifestyles, especially in countries like China, India, and Japan, are fueling pet adoption and demand for veterinary services. Growing consumption of meat, dairy, and poultry products has led to increased investments in livestock health, including vaccines, feed additives, and disease prevention solutions.

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Recent Developments:
• In Dec 2024, Zoetis Inc., introduced the Vetscan OptiCellTM, a novel screenless point-of-care hematological analyzer, to the world at the Veterinary Meeting & Expo (VMX) in January in Orlando, Florida. It is the first veterinary hematology diagnostic instrument that uses a cartridge and artificial intelligence (AI) to provide accurate insights in minutes through full blood count (CBC) analysis.
• In January 2024, Neogen Corporation declared the Provecta Pro Flea & Tick Collar for Dogs to be available. For dogs and pups 12 weeks of age and up, Provecta Pro provides easy and mess-free protection. Containing two active ingredients, Deltamethrin and the IGR (S)-Methoprene, Provecta Pro provides long-lasting, full-body protection against fleas, ticks, and mosquitoes* for six months.
• In November 2023, Virbac completed the acquisition of Globion's majority interest. By expanding Virbac India's current poultry offering into the expanding field of avian vaccines, this deal will strengthen position as India's leader in animal health. The development, production, and marketing of live and inactivated vaccines that target a wide range of avian infections are areas in which Globion has established strong knowledge and competence.
Segmentation of Animal Health Market.

Global Animal Health Market- By Product
• Pharmaceuticals
o Parasiticides
o Anti-infectives
o Anti-inflammatory
o Analgesic
o Others
• Biologics
o Vaccines
 Modified/ Attenuated Live
 Inactivated (Killed)
 Others
o Other Biologics
• Medicinal Feed Additives
• Diagnostics
o Consumables
o Instruments
• Equipment & Disposables
o Critical Care Consumables
o Anesthesia Equipment
o Fluid Management Equipment
o Temperature Management Equipment
o Rescue & Resuscitation Equipment
o Research Equipment
o Patient Monitoring Equipment
• Others
o Veterinary Software
o Veterinary Telehealth
o Livestock Monitoring
Global Animal Health Market - By Animal
• Companion Animals
o Dogs
o Cats
o Horses
o Others
• Production Animals
o Cattle
o Swine
o Poultry
o Sheep & Goats
o Fish
Global Animal Health Market - By Distribution Channel
• Hospital/ Clinic Pharmacy
• Retail
• E-commerce
Global Animal Health Market - By End User
• Veterinary Hospitals & Clinics
• Veterinary Reference Laboratories
• Home Use
• Others
Global Animal Health Market - By Region
North America-
• The US
• Canada
• Mexico
Europe-
• Germany
• The UK
• France
• Italy
• Spain
• Rest of Europe
Asia-Pacific-
• China
• Japan
• India
• South Korea
• Southeast Asia
• Rest of Asia Pacific
Latin America-
• Brazil
• Argentina
• Rest of Latin America
Middle East & Africa-
• GCC Countries
• South Africa
• Rest of the Middle East and Africa

Why should buy this report:
 To receive a comprehensive analysis of the prospects for global Animal Health market
 To receive industry overview and future trends of global Animal Health market
 To analyze the Animal Health market drivers and challenges
 To get information on the Animal Health market size value (US$ Mn) forecast till 2031
 Major Investments, Mergers & Acquisition in global Animal Health industry

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This release was published on openPR.