Animal Health Market: Information by Animal Type (Farm animal, Companion animal), Product (Pharmaceuticals, Vaccines, Feed Additives), Route of Administration (Oral, Parenteral), Distribution Channel (Retail, E-Commerce) — Global Forecast till 2028
Animal Health Market Insight
The animal health market size was valued USD 31 billion in 2020 and is projected to reach USD 99 Billion by 2028 at 8.5% CAGR during the forecast period (2021–2028).
Top Boosters and Deterrents
Animal health firms are investing considerably on rigorous research and development activities to create advanced and more effective medicines and vaccines for companion and food-producing animals. The animal health market players are teaming up with ranchers and farmers, veterinarians, government agencies, and various other groups to maintain safety and health of animals, food supply, and humans. Innovations help bring down the risks of diseases, thanks to better immunity, enhanced prevention strategies, quicker diagnosis, and more effective treatment. Bringing these advancements to fruition can translate into reduced use of natural resources, lower death rates, and reduced emissions.
The animal health industry has made solid progress over the years, owing to the mounting demand for protein rich food as well as the alarming increase in food-borne and zoonotic diseases. The unprecedented growth in animal disorders is compelling firms to create more advanced vaccines and drugs, which should be conducive to business growth. The favorable business landscape is also encouraging firms to work on cutting down the number of food-borne diseases and the pathogen contamination risks, which will also benefit the global market in the years to follow.
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Some more noteworthy technical innovations witnessed by the market include the emergence of information management systems, vaccine banks, animal owner mobile technology, and more. Escalation in the number of vets and the rising knowledge among people regarding the latest treatment options for animals and the strong pipelines of drugs that are available in the market could also mean significant revenue generation in the coming years. On the competitive front, there has been a surge in research initiatives, business expansion, mergers and acquisitions, and new product and device launches. To illustrate, in May 2021, Boehringer Ingelheim India introduced VAXXITEK HVT+IBD, an advanced poultry vaccine in the Indian market. VAXXITEK® HVT+IBD, a single shot recombinant vaccine, offers life-long and effective protection to every type of chicken, particularly layer, breeder, and broiler, strengthening their immunity and enhancing the flock’s performance as well as health. The vaccine mainly safeguards against two prominent immunosuppressive diseases, namely Marek’s Disease, and IBD (Infectious Bursal Disease), which inflict substantial loss to the poultry sector.
Animal Health Market Key Vendors
Market participants listed are
- Bayer AG
- Boehringer Ingelheim GmbH
- Ceva Sante Animale
- Eli Lilly
- Merck Animal Health
- Nutreco N.V.
- Vetiquinol SA
Animal Health Market Segmentation
Some of the top segments considered in the MRFR study of the animal health industry include animal type, product, route of administration, and distribution channel.
The animal types studied in the MRFR report include farm animal as well as companion animal. Better growth will be exhibited by the farm animal segment compared to companion animal category, thanks to the collective efforts of several healthcare firms in developing efficient agricultural practices.
Some of the key products covered in the report are pharmaceuticals, vaccines, and feed additives. The vaccines segment should attain the fastest growth in the following years, given the mounting need to protect livelihoods of millions of people across the globe who depend on livestock. There is also an urgent requirement to cut down the use of antibiotics, which elevates the importance of vaccines.
Routes of administration-based segments are topical, oral, parenteral, and more.
Distribution channels assessed in the study include veterinary hospitals & clinics, e-commerce, retail, and others.
Animal Health Market Regional Insight
The main markets for animal health are Europe, MEA or Middle East & Africa, Asia Pacific/APAC, along with the Americas.
America prevails as the top market for animal health and is slated to maintain a solid growth throughout the analysis period. Thanks to the rampant consumption of animal protein, huge production rate, and significant emphasis on food safety, the US market is bound to take the lead in the coming years. Surge in in pet ownership rate along with the escalating requirement for new and more effective vaccines, drugs and medicines for companion animals should further enhance the market size. Animal testing has emerged as one of the most profitable sectors in the region, as consumers grow aware about animal health and the latest treatment options available in the market. Diseases like porcine, Nipah infection (NiV), melioidosis, respiratory and reproductive syndromes and bluetongue are growing prominent in the region and to address these, companies are proactively conducting R&D to create highly advanced treatment and drugs.
Europe is the second market leader and is largely supported by the government and massive funds they offer for conducting exhaustive research & development activities. The expanding companion animal pool, surging technological innovations and the rise in zoonotic diseases should also bolster the business growth in the region.
APAC will be the fastest gainer in the global market, on account of soaring pet adoption, surge in animal welfare programs across India and China as well as rising number of R&D activities by reputed companies. Many of the regional manufacturers are working on creating generic therapeutics at reasonable prices, which is bound to intensify the competitive quotient.
LIST OF TABLES
Table 1. Global Animal Health Market Synopsis, 2020-2027
Table 2. Global Animal Health Market Estimates And Forecast, 2020-2028(USD Million)
Table 3. Global Animal Health Market, By Region, 2020-2028(USD Million)
Table 4. Global Animal Health Market, By Animal Type, 2020-2028(USD Million)
Table 5. Global Animal Health Market, By Product, 2020-2028(USD Million)
Table 6. Global Animal Health Market, By Route Of Administration, 2020-2028(USD Million)
Table 7. Global Animal Health Market, By Distribution Channel, 2020-2028(USD Million)
Table 8. North America: Animal Health Market, By Animal Type, 2020-2028(USD Million)
Table 9. North America: Animal Health Market, By Product, 2020-2028(USD Million)
Table 10. North America: Animal Health Market, By Route Of Administration, 2020-2028(USD Million)
LIST OF FIGURES
Figure 1. Research Process
Figure 2. Segmentation For Global Animal Health Market
Figure 3. Segmentation Market Dynamics For Global Animal Health Market
Figure 4. Global Animal Health Market Share, By Animal Type, 2020
Figure 5. Global Animal Health Market Share, By Product, 2020
Figure 6. Global Animal Health Market Share, By Route Of Administration, 2020
Figure 7. Global Animal Health Market Share, By Distribution Channel, 2020
Figure 8. Global Animal Health Market Share, By Region, 2020
Figure 9. North America: Animal Health Market Share, By Country, 2020
Figure 10. Europe: Animal Health Market Share, By Country, 2020
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