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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Global Animal Health Market Share by Region
At a regional level, the North America animal healthcare market occupies a sizable share of the global market for animal health. This can be attributed to the high rates of pet ownership, widespread veterinary network, extensive demand for animal-based products, and rising awareness among pet and commercial animal owners regarding animal welfare. Governments in the region and animal welfare organisations also strive to enhance animal health in the region. The US animal health market size is expanding, supported by increasing demand for commercial animals, rising prevalence of zoonotic diseases, and growing spending of pet owners towards companion animals.
Meanwhile, the Asia Pacific animal healthcare market is anticipated to experience rapid growth in the coming years, fuelled by increasing initiatives for animal welfare, rising pet ownership, and investments towards veterinary infrastructure. Major players are broadening their presence in the Asia Pacific to tap into the growing market for animal health industry.
Animal Health Market Report Snapshots
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
In 2023, the global market for animal health attained a value of approximately USD 59.24 billion.
The market is estimated to grow at a CAGR of 6.4% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032, reaching a value of around USD 103.56 billion by 2032.
The major regions in the market are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
The major drivers of the market include the increasing pet ownership, rising animal healthcare expenditure, and increasing disposable incomes of pet owners.
The key animal health market trends include technological advancements, expansion of veterinary networks, and rising investments in the research and development activities.
The significant animal types in the market for animal health are commercial animals and companion animals. Among these, commercial animals are further divided based on type into poultry, swine, cattle, and sheep and goat, among others. Meanwhile, companion animals are further divided based on type into dogs, and cats, among others.
The different product types of animal health in the market are vaccines, pharmaceuticals, feed additives, and diagnostics, among others.
The various end uses in the market for animal health include veterinary hospitals and clinics, animal care and rehabilitation centres, and diagnostics centres, among others.
The major players in the market, according to the report, are 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., and Vetoquinol SA, among others.
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