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Animal Healthcare Market

Rising Demand for Animal based Products, and Growing Prevalence of Zoonotic Diseases will propel the overall Animal Healthcare Market

Animal Healthcare Market Segmented By Anti-Infective Agents | Antibiotics & Antimicrobials (Anti-Fungal, Anti-Viral, Anti-Inflammatory & Analgesic Agents) | Parasiticides (Endo-Parasiticides, Ecto-Parasiticides, Endectocides) | Vaccines | Hormones & Substitutes | Nutritional Products

Animal Healthcare Market Outlook (2023-2033)

The global revenue from the animal healthcare market stands at US$ 39.1 Bn in 2022, with the global market expected to grow at a CAGR of 3.9% to reach a valuation of approximately US$ 60.3 Bn by the end of 2033.

Market Size (2022)

US$ 39.1 Bn

Projected Market Value (2033)

US$ 60.3 Bn

Global Market Growth Rate (2023-2033)

3.9% CAGR

Market Share of Top 5 Countries

46.4%

As assessed by Persistence Market Research, parasiticides are expected to hold a market value of around US$ 15.0 Bn by 2033. Overall, animal healthcare market sales account for approximately 45.0% revenue share in the global veterinary services market, which was valued at around US$ 86.8 Bn in 2022.

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Sales Analysis of Animal Healthcare Market from 2012 to 2022 Vs Market Outlook for 2023 to 2033

The global market recorded a historic CAGR of 4.5% in the last 10 years from 2012 to 2022.

Manufacturers of animal health products are biopharmaceutical firms that spend money on R&D to develop innovative drugs for pets and livestock. To protect the wellbeing and security of animals, people, and the food supply, the animal health industry works in collaboration with ranchers and farmers, government organisations, veterinary professionals, and other groups.

It is impossible to separate the health of all animals from that of people and the environment. Animals in better health require less natural resources, which enables them to produce more food, labour, fertiliser, companionship, and aid with less feed, drink, and land.

Stronger immunity, improved preventive measures, earlier and more accurate diagnosis, and more precise and efficient treatment are some of the innovations in animal health that are on the horizon that can reduce the threat of diseases.

The implementation of these improvements will result in lower emissions, a more efficient use of natural resources, and fewer animal deaths. Despite the promise of expanding veterinarian knowledge and skill, animal health companies are finding it more and more difficult and expensive to introduce new products to the market.

Early disease identification and individually tailored therapies can have a positive impact on both animal health and sustainable development. This includes lowering the costs associated with treating sick animals and promoting agricultural productivity all over the world, enhancing diagnostic and treatment precision to cut down on the need for antibiotics and safeguard public health, and reducing the spread of zoonotic diseases that affect both humans and animals.

Additionally, enhancing animal health through precise nutrition, feed additives, and bio parasiticides has numerous advantages for animal health and wellbeing in addition to promoting higher sustainability. Research and development for new products can be made safer and more animal welfare-friendly by implementing measures of evaluating novel therapies or treatments, which use fewer animals.

The global market is thus likely to show high growth over the coming years at a CAGR of 3.9% and reach a global market size of US$ 60.3 Bn by 2033.

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How Can the Global Animal Healthcare Market Grow?

Development of Novel Vaccine Platforms, and Setting Regulatory Flexibility

The effectiveness and precision of mass immunisation can be enhanced by new vaccine platforms. Systems that provide vaccines to day-old chicks on a conveyor belt or within the egg prior to hatching, for instance, can increase the immunisation rate of poultry.

Oral vaccinations and newly developed automated injection devices enable efficient protection in aquaculture while avoiding time-consuming manual injections. Farmers can get protection that is particularly customised to their livestock and environment thanks to autogenous vaccines. When a veterinarian suspects that a herd is harbouring a disease strain for which conventional immunizations would not be effective, they may seek for an autogenous vaccine.

The manufacturer will develop a vaccine customized to that specific virus strain using a herd culture sample, which can help significantly in protecting farm animals that are uninfected.

Greater regulatory flexibility might speed up the development of vaccines and delivery platforms. By gaining more acceptability, a master dossier might be used to approve a basic vaccine technology initially, allowing subsequent evaluations to concentrate on the innovative or unique features of each vaccine application.

Furthermore, promoting businesses to submit a single dossier for a vaccine encompassing multiple strains would improve the agility and flexibility to address various disease threats in various geographic locations.

Regulators could improve the options for demonstrating efficacy and safety while lowering the number of study animals required by creating standards for novel testing procedures such in vitro testing and eliminating pointless batch safety testing.

These factors will promote the opportunities for the market to expand, over the forecast period.

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Can the Animal Healthcare Market Growth Be Affected in Any Way?

Laborious Regulatory Approval Activity and Short Patent Protection Period

Over fifty different animal species require the administration of veterinary medicines and health products for disease prevention, diagnosis, and treatment. It is difficult to develop innovations that operate in this diversified context, and it is therefore crucial that the policy and regulatory framework take into account the industry's specific attributes.

It can take between five and fifteen years after a novel drug or product is discovered before it can be used to treat animals, and since 2015, this period has gotten longer in Europe.

In the meanwhile, the chance to return this investment is time-limited unless a product is patent-protected, especially in the case of livestock. Companies in Europe have ten years of data protection following the approval of a new product for sale.

In the US, data protection is only in place for five years, most of which can be covered by the process for setting international standards. For instance, before a product can be employed by manufacturers who want to export, Maximum Residue Levels (MRLs) for trade must be established.

This means that before the innovator can see a return on their investment, a product may already have lost its exclusivity protection by the time it can be broadly utilized and be up against generic competition.

In addition, after a product is approved for sale, the animal health industry frequently adopts Good Manufacturing Practices (GMP) that are designed for human health. Without modified GMP, an animal health product would be subject to pointless regulations that might make its production unprofitable.

Despite efforts to unify rules by groups like the Veterinary International Conference on Harmonization, many regions still have seemingly heterogeneous regulatory standards. For instance, different markets may demand different numbers of animals be included in trials to prove safety and efficacy, and manufacturers must meet these standards.

Smaller markets may not be able to recover their investments once a product is granted approval due to these regulatory expenditures, which makes it unlikely that a business will ever submit it for evaluation. As a result, veterinarians, farmers, and pet owners have fewer tools at their disposal.

All these factors restrain the growth of the overall market, and continue to do so over the forecast period.

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Country-wise Insights

Why is the U.S. Animal Healthcare Market Booming?

“Large Number of People with Companion Animals, and Growth of the Livestock Industry”

The U.S. accounted for around 84.3% market share in the North America market in 2022. According to the American Health Institute, almost 400 million pets, including cats, dogs, horses, birds, fishes, and more, are owned by more than 67% of American homes.

The production of meat and dairy products for domestic and international consumers is also based on healthy livestock, which benefits the American economy and provides people with wholesome, inexpensive food.

Farmers and ranchers employ medications to preserve the wellbeing of animals used for food production, safeguard public health, and safeguard the food supply. These elements are accelerating the growth of the international market in the country and are anticipated to do so for the upcoming years.

Will Germany Be a Lucrative Market for Animal Healthcare?

“Guidelines and Reimbursements by the European Commission”

Germany held around 18.6% market share of the Europe market in 2022. For all European citizens, animal health is a concern. This concern is brought on by the public health and food safety components of animal health, as well as the financial consequences that animal disease epidemics can bring about and the considerations for the wellbeing of animals, including the effects of disease control.

The major goal of current compensation plans is to give pet owners a way to get compensated in the event of a disease epidemic. The strategy's main goals may be greatly aided by an equitable distribution of costs, rewards, and responsibilities.

On the one hand, governments must play a crucial part in protecting the country's borders from disease invasions and organising the response to exotic disease epidemics. This factor aids the growth of the market in Germany.

How is China Emerging as a Prominent Market for Animal Healthcare?

“Rising Investments in Animal Healthcare”

China held a market share of about 5.4% of the global market in 2022. China's regulatory environment has changed during the last five years, and this has both benefited and hampered innovation. By inviting businesses to remark on new regulatory requirements, Chinese authorities and executives have generally shown increased transparency in the policy-making process.

Multinational animal health companies are increasingly establishing R&D and/or manufacturing operations or facilities in China. This is partly attributable to the government's initiatives to support China's veterinary pharmaceutical industry, which have allowed more domestic players from international corporations to emerge over the past five years as a driving force for investments in those sectors.

Category-wise Insights

Which Drug is Driving Demand within the Global Market?

“Effectiveness of Parasiticides”

Parasiticides dominated the global market in 2022 and are expected to hold a market value of around US$ 15.0 Bn by 2033. Ivermectin and moxidectin are also suitable against arthropod parasites. In veterinary medicine, the term "parasiticide" refers to anthelmintic medications. Anthelmintics are drugs that can make parasitic intestinal worms leave the body. The only anthelmintics authorised for use in organic animal production are fenbendazole, ivermectin, and moxetectin.

For susceptible parasites, fenbendazole, ivermectin, and moxidectin are particularly effective. Management of parasiticide resistance has grown to be a significant issue in animal health. Increased parasiticide resistance could result from increased usage of anthelmintics in cattle production, thus driving the segment share within the global market.

Which Animal is Largely of Focus within the Global Market?

“Increasing Demand for Animal Based Proteins”

Farm animals held a share of about 60.0% in 2022. Agriculture and animal husbandry are essential to human nutrition. The emergence of middle classes in developing nations and their new consumption patterns will contribute to the increase in demand for animal protein. New difficulties in disease control will arise as a result of the consequent growth in animal production.

Thus, the management of farm animals owed to the increasing demand for animal-based products have propelled the growth of this segment within the global market.

Which Route of Administration is Highly Adopted in the Global Market?

“Stability of Oral Medication Forms and Ease of Administration”

The oral route of administration held a share of about 44.4% in 2022. Many livestock farmers provide drenches, oral treatments, and regular vaccines for their own horses and cattle. When administering pills in the form of oral medications to cattle, balling guns are employed.

These medicines typically come in pill or liquid form. Moreover, the most typical dosage forms for giving medications to dogs and cats are traditional and chewable pills. Since tablets have the potential to be more chemically and physically stable than liquid forms, oral administration is frequently adopted.

Which Distribution Channel Generally Promotes Market Growth?

“Availability of an Array of Veterinary Services”

Veterinary hospitals hold a share of about 34.1% in 2022. Clinical services provided by veterinary clinics include the care of sick animals and the management of production-limiting conditions.

Preventive services include the halting of disease outbreaks and the distribution of medications, vaccines, and other products. Human health protection includes the testing of commercially available animal products.

Given the increasing threat of zoonotic disease spread, the veterinary clinics offer a variety of services to prevent and manage veterinary disease outbreaks.

Competition Landscape

Top businesses are concentrating on increasing regional acquisitions as a result of market consolidation. Latin America as well as Asian nations like China and India have noticed the trend.

The firms that control the acquisition market are those with a significant regional marketing footprint in terms of a direct sales force and local GMP-certified production facilities supported by qualified labour.

Some key instances of development include:

  • Bayer concluded the sale of its Animal Health business unit to Elanco Animal Health Incorporated in August 2020.
  • Jurox is a privately held animal health firm that develops, develops, and markets a diverse range of veterinary drugs for treating livestock and companion animals. In September 2022, Zoetis Inc. announced the successful completion of the acquisition of Jurox.

Similarly, the team at Persistence Market Research has tracked recent developments related to companies in the animal healthcare market, which are available in the full report.

Animal Healthcare Industry Report Scope

Attribute

Details

Forecast Period

2023-2033

Historical Data Available for

2012-2022

Market Analysis

USD Million for Value

Key Countries Covered

  • U.S.
  • Canada
  • Brazil
  • Argentina
  • Mexico
  • Germany
  • France
  • U.K.
  • Italy
  • Spain
  • Russia
  • BENELUX
  • India
  • Thailand
  • Malaysia
  • Indonesia
  • China
  • Japan
  • South Korea
  • Australia
  • New Zealand
  • Turkey
  • GCC
  • North Africa
  • South Africa

Key Market Segments Covered

  • Drug
  • Animal
  • Route of Administration
  • Distribution Channel
  • Region

Key Companies Covered

  • Bayer AG
  • Boehringer Ingelheim GmbH
  • Virbac SA
  • Zoetis, Inc.
  • Hester Biosciences Ltd.
  • Intas Pharmaceuticals Ltd
  • Merck Animal Health
  • Elanco (Eli Lilly and Company)
  • Ceva Santé Animale
  • Alivira Animal Health Limited
  • Vetoquinol S.A.
  • Zydus Animal Health
  • Norbrook Laboratories Limited
  • Phibro Animal Health Corporation
  • Dechra Pharmaceuticals PLC
  • Norbrook Laboratories, Inc

Report Coverage

  • Market Forecast
  • Competition Intelligence
  • DROT Analysis
  • Market Dynamics and Challenges
  • Strategic Growth Initiatives

Customization & Pricing

Available upon Request

Key Segments Covered in Global Industry Research

Drugs:

  • Anti-Infective Agents
  • Antibiotics & Antimicrobials
    • Anti-Fungal
    • Anti-Viral
    • Anti-Inflammatory & Analgesic Agents
  • Parasiticides
    • Endo-Parasiticides
    • Ecto-Parasiticides
    • Endectocides
  • Vaccines
  • Hormones & Substitutes
  • Nutritional Products
  • Others

Animals:

  • Companion Animals
    • Cats
    • Dogs
    • Horse
  • Farm Animals
    • Ruminants
    • Swine
    • Poultry

Route of Administration:

  • Oral
    • Tablets/Capsules
    • Liquids
    • Powders/Premix
    • Others
  • Parenteral
    • Liquids
    • Powder for Injection
  • Topical
    • Solutions (Spot-on, Pour-on)
    • Creams & Ointments
    • Intramammary Preparations
    • Others
  • Others

Distribution Channel:

  • Veterinary Hospitals
  • Veterinary Clinics
  • Pharmacies & Drug Stores
  • Others

Region:

  • North America
  • Latin America
  • Europe
  • South Asia
  • East Asia
  • Oceania
  • Middle East & Africa

- Companies Covered in This Report -

  • Bayer AG
  • Boehringer Ingelheim GmbH
  • Virbac SA
  • Zoetis, Inc.
  • Hester Biosciences Ltd.
  • Intas Pharmaceuticals Ltd
  • Merck Animal Health
  • Elanco (Eli Lilly and Company)
  • Ceva Santé Animale
  • Alivira Animal Health Limited
  • Vetoquinol S.A.
  • Zydus Animal Health
  • Norbrook Laboratories Limited
  • Phibro Animal Health Corporation
  • Dechra Pharmaceuticals PLC
  • Norbrook Laboratories, Inc

- Frequently Asked Questions -

The global market is currently valued at around US$ 39.1 Bn in 2022.

Sales of the market are set to witness growth at a CAGR of 3.9% and be valued at around US$ 60.3 Bn by 2033.

Demand for the global market increased at a 4.5% CAGR from 2012 to 2022.

The U.S., China, Canada, Germany, and France account for most demand within the market, currently holding around 46.4% market share.

The U.S. accounts for around 84.3% share of the North American market in 2022.

Latin America accounts for around 11.7% share of the global market in 2022.

China held a market share of about 5.4% of the global market in 2022.

Germany held around 18.6% market share of the Europe market in 2022.

The Brazil market is expected to grow at a 4.3% CAGR during the forecast period.

The animal healthcare market in India is set to expand at a 5.6% CAGR over the forecast period.

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