Animal Health Market: Information by Animal Type (Farm Animal, Companion Animal), by Product (Pharmaceuticals, Vaccines, Feed Additives), Route of Administration (Oral, Parenteral, Topical), Distribution Channel (Veterinary Hospitals & Clinics, Retail, E-Commerce), and by Region (North America, Europe, Asia-Pacific, Middle East, and Africa)—Forecast till 2030
The animal health market size was valued USD 35.9 billion in 2021 and is projected to reach USD 75.02 Billion by 2030 at 7.6% CAGR during the forecast period 2022-2030. Animal health care is primarily concerned with the wellness of pets and farm animals. Like a human disease, animals are capable of capturing parasites and other diseases, which require diagnosis, prevention, and control of the disease.
The animal health market refers to the industry that produces and sells products and services aimed at preventing, diagnosing, and treating illnesses and diseases in animals. This includes veterinary pharmaceuticals, vaccines, diagnostic tests, and medical devices. The market also includes veterinary services, such as consultations, treatments, and surgeries. The animal health market covers a wide range of species, including companion animals such as dogs and cats, as well as livestock animals, such as cattle, pigs, and poultry. The goal of the animal health market is to improve the health and well-being of animals and to support the agriculture and livestock industries by ensuring the health and productivity of their animals.
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The COVID-19 pandemic has sudden and widespread nature of the pandemic created disruptions in supply chains and distribution networks, which had an impact on the availability of animal health products and services. In some regions, there were temporary shortages of certain veterinary pharmaceuticals and medical devices, due to a combination of increased demand, supply chain disruptions, and disruptions to production and manufacturing processes. the pandemic has affected the delivery of veterinary services, with many clinics and practices temporarily closing or limiting their services due to lockdowns and social distancing measures. This has reduced the availability of preventative care and routine check-ups for animals, leading to a decline in the demand for certain animal health products and services.
In some regions, there has been an increase in the demand for pet ownership and pet-related products and services, as people spend more time at home and look for ways to cope with the stress of the pandemic.
Animal Health Market Segmentation
The Global Animal Health Market has been segmented into Animal Type, Product, Route of Administration, and Distribution Channel
Based on the Animal Type, the market has been segmented into Farm Animals, Companion Anima.
Based on the Product, the market has been segmented into Pharmaceuticals, Vaccines, and Feed Additives.
Based on the Route of Administration, the market has been segmented into Oral, Parenteral, and Topical.
Based on the Distribution Channel, the market has been segmented into Veterinary Hospitals & Clinics, Retail, and E-Commerce.
Some of the key market players are
- Zoetis Inc
- Elanco Animal Health
- Boehringer Ingelheim Animal Health
- Bayer AG (Animal Health Division)
- Ceva Santé Animale
- Dechra Pharmaceuticals
Animal Health Market Regional Analysis
The Asia-Pacific region had a significant portion of the market in 2021. Due to its long history of herbal medicine, driven by countries like Indonesia, India, Sri Lanka, Myanmar, and others. Strong governmental efforts, existing projects, and established ayurvedic manufacturing facilities will support the industry in the Asia-Pacific region.
For instance, in April 2021, the Ministry of AYUSH signed Country to Country Memoranda of Understanding (MoUs) with 18 countries for cooperation in Traditional Medicine and Homeopathy, as well as MoUs for cooperative research/academic collaboration and MoUs for appointing AYUSH Academic Chairs in international universities that are located in 28 countries and spread information on AYUSH systems. These agreements were made to promote AYUSH systems around the world.
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