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Emerging Artificial Intelligence (AI) In Animal Health Market Trends: Advancements In AI-Driven Livestock Health Management Shaping the Future of the Industry
Artificial Intelligence (AI) In Animal Health Market
Artificial Intelligence (AI) In Animal Health Market Size Growth Forecast: What to Expect by 2025?
In recent times, the market size for artificial intelligence (AI) in animal health has experienced tremendous growth. The market, which is projected to expand from $1.45 billion in 2024 to $1.72 billion in 2025, is forecasted to deliver a compound annual growth rate (CAGR) of 18.9%. The acceleration during the historical period is mainly due to a surge in AI applications, the provision of AI-based solutions, strategic initiatives by leading corporations, increased spending on animal healthcare, and the inclusion of AI in veterinary diagnostics.
How Will the Artificial Intelligence (AI) In Animal Health Market Size Evolve and Grow by 2029?
In the coming years, the artificial intelligence (AI) in the animal health market is projected to witness a substantial surge, reaching $3.52 billion by 2029 at a compound annual growth rate (CAGR) of 19.6%. This growth during the forecast period is mainly due to the precise handling of livestock and veterinary healthcare, deeper insights obtained from data, innovative solutions, remote monitoring and diagnosis, early detection of disease and identification of anomalies, proactive healthcare, and individually tailored medicine. The forecast period also sees key trends including advancements in veterinary diagnostics, a rise in the uptake of AI technologies, improved disease detection and supervision, and an increasing emphasis on animal welfare and conservation.
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What Drivers Are Propelling the Growth of Artificial Intelligence (AI) In Animal Health Market Forward?
The growth of the artificial intelligence (AI) in animal health market is anticipated to be boosted by the escalating expenses on animal health. The term "expenditure on animal health" pertains to the total sum allocated for the preservation and enhancement of animal health and welfare. The rise in spending on animal health can be attributed to heightened awareness, the increasing popularity of pet humanization, and growing demand for state-of-the-art veterinary care solutions, including AI-based innovations. Wealthier pet owners can avail themselves of AI-integrated telehealth amenities and distant health-tracking services for their pets, alongside virtual interactions with vets. For example, the American Pet Products Association reported that $136.8 billion was spent on pet health by Americans in 2022, reflecting a surge of 10.68% from the preceding year's expenditure of $123.6 billion, as recorded in June 2023. Vet Care services alone accounted for $35.9 billion. Consequently, the rise in animal health expenditure is fuelling the growth of the AI in animal health market.
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Which Emerging Trends Are Transforming the Artificial Intelligence (AI) In Animal Health Market in 2025?
Key players in the artificial intelligence (AI) animal health market are advancing their technologies to offer AI-based solutions like cattle feed recommendations, with the aim to optimize livestock nutrition and farming management tactics. The intention behind such technology is to bolster livestock farming efficiency by customizing feed schedules to cater to the unique requirements of individual or groups of animals, factoring in variables such as age, weight, medical condition, and dietary needs. For instance, in January 2024, Precision Livestock Technologies, a firm based in the US specializing in livestock feeding and health software and hardware solutions, launched the first system to utilize AI in order to forecast cattle feed intake and provide feeding suggestions. This system produces daily feed prediction quantities, using an extensive range of data collected from PLT's machine vision bunk management system as well as external data sources. This encompasses feed rates and durations, feeding cycles, cattle behavior, type of ration, weather conditions, and other elements.
What Are the Key Segments in the Artificial Intelligence (AI) In Animal Health Market?
The artificial intelligence (ai) in animal health market covered in this report is segmented -
1) By Solution: Hardware, Software And Services
2) By Technology: Machine Learning, Natural Language Processing (NLP), Computer Vision, Other Technologies
3) By Animal Type: Companion Animals, Production Animals
4) By Application: Diagnostics, Identification, Tracking, And Monitoring, Other Applications
5) By End-Use: Veterinary Clinics And Hospitals, Research Institutions, Farms And Livestock Producers
Subsegments:
1) By Hardware: Diagnostic Devices, Wearable Health Monitoring Devices, Automated Feeding Systems
2) By Software And Services: AI-Powered Diagnostic Tools, Predictive Analytics Software, Health Management Platforms, Consulting Services, Implementation And Integration Services, Maintenance And Support Services, Training And Educational Programs
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Who Are the Key Players Shaping the Artificial Intelligence (AI) In Animal Health Market's Competitive Landscape?
Major companies operating in the artificial intelligence (AI) in animal health market are Microsoft Corporation, International Business Machines Corporation, Zoetis Inc., VCA Animal Hospitals Inc., IVC Evidensia, IDEXX Laboratories Inc., Merck Animal Health, Heska Corporation, Agria Pet Insurance, PrecisionHawk, SignalPET, ImpriMed Inc., PetPace Ltd., VetNOW, Shenzhen Mindray Animal Medical Technology Co. Ltd., EIO Diagnostics Inc., Connecterra, GuardianVets, Halter USA Inc., Petriage Inc., Moichor Inc., OneCup Al, AgGenetics Inc., IMV Technologies, Felcana, Vet-Al, Alpha Phenomics Inc.
What Geographic Markets Are Powering Growth in the Artificial Intelligence (AI) In Animal Health Market?
North America was the largest region in the artificial intelligence (AI) in animal health market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the artificial intelligence (AI) in animal health market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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