Animal Health Market Key Players Analysis - Virbac S.A., NEOGEN Corporation, Zoetis Inc., Vetoquinol S.A., Dechra Pharmaceuticals plc.

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 encompasses the use of medications, vaccines, medicated diets, and diagnostic tools to treat diseases affecting animals. Animals contribute significantly to human well-being by providing companionship, food, and protection, and are also integral to biological research, including drug testing and genetics studies. The demand for animal healthcare products is projected to grow due to heightened awareness of animal diseases, stricter regulatory measures, and an increased focus on preventing outbreaks caused by animal epidemics. Consequently, the animal health market is experiencing notable growth globally. The rising global demand for protein and other food products further underscores the need for a robust animal healthcare system.

Key industry players are advancing the development of modern therapeutics to address the increasing prevalence of animal diseases, while the pharmaceutical sector has introduced various vaccines to prevent numerous animal health issues. Additionally, several industries are adopting measures to minimize the risk of foodborne illnesses and pathogens, thereby preventing animal infections. The COVID-19 pandemic notably influenced the animal healthcare sector, contributing to a sustained increase in demand throughout the crisis.

In April 2024, Zoetis Inc. and Phibro Animal Health Corporation announced that Phibro Animal Health would acquire Zoetis' medicated feed additive (MFA) product portfolio, alongside certain water-soluble products and related assets, for $350 million, subject to typical closing adjustments. This transaction is expected to be concluded in the latter half of 2024. Data from the animal health industry indicates a growing shift toward preventative healthcare for both livestock and companion animals, as pet owners and livestock producers increasingly recognize the importance of early detection and proactive health management to enhance animal well-being and reduce disease risks.

At the same time, rapid advancements in biotechnology and pharmaceuticals are revolutionizing the diagnosis and treatment of animal diseases. Cutting-edge research and innovative technologies are driving the creation of tailored treatments, vaccines, and precision medicines for specific animal species and medical conditions. Breakthroughs in biotechnology, including DNA sequencing, polymerase chain reaction (PCR), gene editing, and cell therapies, present promising solutions for complex diseases. Moreover, pharmaceutical companies are continuing to invest in research and development (R&D) to create safer and more effective treatments 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 increasing number of pet owners, particularly among Millennials and Generation Z, is significantly contributing to the growth of the animal healthcare market. These demographics are driving demand for innovative tools and solutions aimed at enhancing pet care, safety, and health management. Concurrently, the rising global demand for meat, milk, and eggs is spurring investments in livestock health, with a focus on vaccines, feed additives, and disease prevention measures. Additionally, governments and regulatory agencies are implementing stricter animal welfare and food safety regulations, which is promoting the widespread adoption of vaccines, antimicrobial alternatives, and effective disease management strategies across both companion animals and livestock.

Challenges:
A major challenge to market expansion is the stringent regulatory framework surrounding animal drug approvals. In the United States, all animal drugs must receive approval from the U.S. Food and Drug Administration before they can be marketed. According to the Animal Health Institute, the development of a new animal drug can take up to a decade and cost upwards of USD 100 million. Furthermore, the high cost of advanced treatments, diagnostics, and veterinary services restricts access to quality animal healthcare, particularly in developing regions, limiting overall market growth in these areas.

Regional Trends:
North America is anticipated to maintain the largest market share throughout the forecast period, primarily due to the wide range of initiatives implemented by government animal care agencies aimed at improving animal health standards. For example, the Animal Health Emergency Management (AHEM) program focuses on ensuring the quality, safety, and affordability of animal products to guarantee food security. These agencies also prioritize managing disease outbreaks, preventing harmful agents, and developing effective methods for disease control and eradication. In contrast, the Asia-Pacific region is projected to experience the fastest growth in the animal health market. Increased disposable income and shifting lifestyles, particularly in countries such as China, India, and Japan, are driving higher pet adoption rates and greater demand for veterinary services. The rising consumption of meat, dairy, and poultry products in the region has also led to increased investments in livestock health, with a strong focus on 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.