Animal Health Market Insights 2024 Deployment and Opportunities for Future Growth Until 2030

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Rising awareness about animal welfare, an expanding global population's increasing demand for protein, and a growing focus on preventing and treating animal diseases are key drivers propelling the market forward.

Animal health market analysis by animal type, by product, route of administration, distribution channel, and by region —forecast till 2030. According to Market Research Future (MRFR), the global animal health market size is expected to acquire a significant market value while expanding at a CAGR of 7.6% during the review period from 2023 to 2030, driven by various factors. Rising awareness about animal welfare, an expanding global population's increasing demand for protein, and a growing focus on preventing and treating animal diseases are key drivers propelling the market forward. The sector encompasses a broad range of products and services including veterinary pharmaceuticals, vaccines, feed additives, and diagnostics.

Companion animal health is witnessing a significant surge with increasing pet ownership and a trend towards treating pets as integral family members. Simultaneously, the livestock sector is embracing advanced animal health solutions to enhance productivity and ensure the quality of animal-derived products.

Geographically, North America and Europe traditionally lead the market due to established veterinary care practices and stringent regulations. However, the Asia-Pacific region is emerging as a major contributor with a rising middle class, urbanization, and an escalating demand for animal protein.

Key market players are engaged in strategic collaborations, acquisitions, and product innovations to strengthen their market position. As zoonotic diseases gain global attention, there is an increased focus on preventive measures, reinforcing the significance of the animal health market in ensuring both animal and human health. The future outlook remains positive, marked by ongoing technological advancements and a heightened emphasis on sustainable and ethical animal husbandry practices.

Animal Health Market Players

·         Boehringer Ingelheim GmbH

·         Bayer AG

·         Ceva Sante Animale

·         Elanco

·         Merck Animal Health

·         Eli Lilly,

·         Nutreco N.V.

·         Virbac

·         Zoetis

·         Vetiquinol SA

·         Others.

Market Segmentation

By product, animal type, distribution channel, and administration route, the global animal health market is segmented.

The product-based segments of the market for pet health are vaccines, pharmaceuticals, and feed additives. The pharmaceuticals segment has been sub-segmented into anti-infectives, analgesics, parasiticides, anti-inflammatory, and others. The vaccines segment has been further segmented into DNA vaccines, inactivated vaccines, live attenuated vaccines, recombinant vaccines, and others.

The animal type-based segments of the global animal health market are companion animal and farm animal. The farm animal segment has been further segmented into swine, poultry, cattle, sheep & goats, and others. The companion animal segment has been further segmented into cat, dog, equine, and others.

The distribution channel-based segments of the global animal health market describes retail, veterinary hospitals & clinics, e-commerce, and others.  Among all segments, the farm animal segment is anticipated to acquire the largest market share during the forecast period. On the other hand, the vaccine segment is likely to witness the highest CAGR during the review period.

The route of administration-based segments of the global animal health market are parenteral, oral, topical, and others.

Regional Analysis

Based on the region, the global animal health market trends is segmented into North America, Europe, Asia-Pacific, and Middle East & Africa.

According to the analysis conducted by MRFR, North America is anticipated to dominate the global market during the forecast period owing to the rising demand for animal protein. The growing focus on food safety and rising pet ownership is anticipated to augment the regional trade in the assessment period.

Due to rising pet ownership, Europe is predicted to be the second-largest market during the projection period. Another significant factor that is anticipated to improve the sector in Europe is the rising need for pet insurance. Furthermore, it is anticipated that the regional market will benefit from the increased attention on food safety.

The APAC region is projected to be the fastest-growing market during the assessment period due to the rising pet adoptions and surging pet population. The growing pet welfare programs are anticipated to be another salient cause, which can propel the regional market in the coming period.

The MEA region is anticipated to acquire a smaller market share during the assessment period owing to the lack of skilled veterinarians. Furthermore, poor medical facilities can hinder the regional market from growing.

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