What will be the Animal Health Market size in 2030?

Posted on 2022-05-17 by researchinsights in Healthcare // 0 Comments

San Francisco, California , USA, May 17, 2022 — /EPR Network/ —

Animal Health Industry Overview

The global animal health market size was valued at USD 39.9 billion in 2021 and is expected to witness a compound annual growth rate (CAGR) of 10.0% from 2022 to 2030.

The market is largely driven by a significant rise in demand for protein food and an increase in the incidence of zoonotic and food-borne diseases globally. This unprecedented rise in disease prevalence has triggered companies to produce advanced vaccines and pharmaceuticals. The high demand has also resulted in a subsequent increase in the number of companies undertaking consistent efforts to control pathogen contamination risks and food-borne diseases, which is contributing to market growth. In addition, the rising number of government initiatives to promote animal health products is presumed to drive the overall market.

Gather more insights about the market drivers, restrains and growth of the Global Animal Health Market

In spite of disruption due to the COVID-19 pandemic, the animal health industry witnessed steady growth. The trend for telemedicine has witnessed significant growth during the pandemic. Online channels such as eCommerce are the most preferred distribution channels by pet owners for purchasing vet products and pet food. According to the UN Department of Economic and Social Affairs, the global population is approximately 7.3 billion and it is anticipated to reach around 9.7 billion by 2050; of which, 795 million people are undernourished, as per the estimations of the International Fund for Agricultural Development (IFAD). The aforementioned statistics exemplify the urgent requirement to expand food supply through large-scale adoption of livestock.

The heightened production of animal-based food products will lead to a significant price reduction, facilitating easy access to food at affordable prices. The market for animal health is also driven by technological advancements in veterinary health care, and this is anticipated to offer future growth opportunities. These advancements include the advent of efficient information management systems, animal owner mobile technology, and vaccine banks. Growing focus on innovation in animal health has given rise to certain measures that are strengthening market growth prospects. For instance, the Innovative Medicines Initiative (IMI) is a public-private partnership to support collaborative research to boost innovation in veterinary pharmaceuticals in Europe.

Economic downturn is relatively lower in animal health as compared to others. There will be a shift in business models for veterinarians post pandemic situation. Traditional veterinary practices generate majority of their revenues from selling high margin products like pharmaceuticals. However, as the adoption of telehealth has been on rise the demand for knowledge, expertise and consulting solutions will increase.

Browse through Grand View Research’s Animal Health Industry Research Reports.

Veterinary Medicine Market – The global veterinary medicine market size was estimated at USD 29.4 billion in 2021 and is expected to grow at a compound annual growth rate (CAGR) of 7.3% from 2022 to 2030.
Poultry Vaccines Market – The global poultry vaccines market size was valued at USD 1.86 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 7.1% from 2022 to 2030.

Animal Health Market Segmentation

Grand View Research has segmented the global animal health market on the basis of animal type, product, distribution channel, end use, and region:

Animal Health Type Outlook (Revenue, USD Million, 2017 – 2030)
- Production Animal
  - Poultry
  - Swine
  - Cattle
  - Sheep & Goats
  - Fish
- Companion Animal
  - Dogs
  - Cats
  - Horses
  - Others
- Animal Health Product Outlook (Revenue, USD Million, 2017 – 2030)
  - Vaccines
    - Live Attenuated Vaccines
    - DNA Vaccines
    - Recombinant Vaccines
    - Inactivated Vaccines
    - Others
  - Pharmaceuticals
    - Parasiticides
    - Anti-infectives
    - Anti-inflammatory
    - Analgesics
    - Others
  - Medicinal Feed Additives
  - Diagnostics
    - Instruments
    - Consumables
  - Equipment & Disposables
    - Critical Care Consumables
    - Anesthesia Equipment
    - Fluid Management Equipment
    - Temperature Management Equipment
    - Rescue & Resuscitation Equipment
    - Research Equipment
    - Patient Monitoring Equipment
  - Others
    - Veterinary Telehealth
    - Veterinary Software
    - Livestock Monitoring
  - Animal Health Distribution Channel Outlook (Revenue, USD Million, 2017 – 2030)
    - E-commerce
    - Retail
    - Veterinary Hospitals & Clinics
  - Animal Health End-use Outlook (Revenue, USD Million, 2017 – 2030)
    - Point-of-care Testing/In-house Testing
    - Reference Laboratories
    - Veterinary Hospitals & Clinics
    - Others
  - Animal Health Regional Outlook (Revenue, USD Million, 2017 – 2030)
    - North America
    - Europe
    - Asia Pacific
    - Latin America
    - MEA

Market Share Insights

July 2020: Merck Animal Health ramped up its animal vaccine production capacity with a USD 100 million investment in its Kansas manufacturing site.
August 2021: Elanco closed the acquisition of Kindred Biosciences. With this acquisition, Elanco strengthened and accelerated its innovation, portfolio, and productivity (IPP) strategy, and positioned itself to bring solutions for veterinarians and animal owners in areas of under-served or unmet or medical needs.

Key Companies profiled:

Some prominent players in the Animal Health market include

Merck Animal Health
Ceva Sante Animale
Vetoquinol S.A.
Zoetis
Boehringer Ingelheim GmbH
Elanco
IDEXX
Heska Corporation
Covetrus
DRE Veterinary
Mars Inc.
Virbac
Televet
Phibro Animal Health Corporation
Vetoquinol S.A
B. Braun Vet Care

Order a free sample PDF of the Animal Health Market Intelligence Study, published by Grand View Research.

About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

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