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What Are the Projected Expansion Rates of the Animal Health Market for the Next Decade?

The scale of the animal health market has significantly expanded in the last few years. The forecast is that it will rise from $55.26 billion in 2024 to $59.91 billion in 2025, showing a compound annual growth rate (CAGR) of 8.4%. The historical growth of this market can be attributed to factors like the globalization of food supply chains, amplified livestock farming, a rise in zoonotic diseases, compliance with regulations and standards, and a focus on preventive healthcare.

The animal health market is projected to experience robust expansion in the coming years, ballooning to a substantial $82.04 billion by 2029 at a CAGR of 8.2%. This forecasted growth can be traced back to factors such as attention towards aquaculture health, a one health approach, worldwide efforts in illness monitoring, the broadening of pet insurance, emergency readiness in animal farming, and the worldwide supply of animal health products. Major upcoming trends spanning the forecast period include the inclusion of technology in diagnostics, advancements in biotechnology and genomics, the introduction of telehealth services, digital transformation of supply chains and distribution, and collective research efforts.

What Factors Are Propelling the Growth of the animal health Market from 2025 to 2034?

The escalation in the incidence of zoonotic diseases will bolster the expansion of the animal health market in the future. Zoonotic diseases, which can transfer between varying species of animals and humans or vice versa, can be controlled and monitored better by ensuring animal health. Measures to maintain animal health can assist in keeping zoonosis at bay, thus providing a safeguard for public health. For example, in June 2023, the US-based National Library of Medicine, overseen by the United States federal government, reported that zoonotic diseases account for 2.5 billion cases in humans worldwide and approximately 2.7 million deaths annually. Hence, the rising incidence of zoonotic diseases will act as a driver for the growth of the animal health market.

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Which Companies Are Redefining the Future of the Animal Health Market?

Major companies operating in the animal health market include:

• Elanco Animal Health Incorporated_x000D_

• Merck Animal Health_x000D_

• Boehringer Ingelheim International GmbH_x000D_

• Heska Corporation_x000D_

• Vetoquinol SA_x000D_

What Trends Are Poised to Drive the Future Success of the Animal Health Market?

Advancements in technology are becoming increasingly popular trends in the animal health market. Major participants in the market are putting significant efforts into developing and introducing cutting-edge technologies to cement their market standing. For instance, Elanco Animal Health Incorporated, a company specializing in animal health based in the U.S., and Ginkgo Bioworks, an American biotechnology firm, unveiled a new product in April 2022. Additionally, in October 2022, Merck Animal Health, another U.S-based firm that engages in the creation, production, and marketing of a vast array of veterinary medicines and services, released Animo GPS. This is an activity tracking and behavior monitor for dogs equipped with GPS tracking features. The product offers the capability for real-time tracking that begins to update every five seconds when in ‘Lost Dog Mode’, and will possibly alert pet owners in less than 20 seconds if their dog leaves its designated ‘Safe Zone.’ Animo GPS uses intelligent technology to monitor a dog’s specific activity levels and behavior patterns, displaying the data within an easy-to-use mobile app. The device records all instances of barking, scratching, shaking, and sleeping duration. Should there be any significant changes in these behaviors, it employs an adaptive algorithm to examine the data and send a notification via the app.

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What Are the Key Components of the Animal Health Market, and How Do Its Segments Perform?

The animal health market covered in this report is segmented –

1) By Product: Vaccines, Pharmaceuticals, Medicinal Feed Additives, Diagnostics , Equipment And Disposables, Other Products

2) By Animal Type: Commercial, Companion

3) By Route Of Administration: Oral, Parenteral, Topical

4) By End-User: Veterinary Hospitals And Clinics, Animal Care And Rehabilitation Centers, Diagnostic Centers

Subsegments:

1) By Vaccines: Live Attenuated Vaccines, Inactivated Vaccines, Recombinant Vaccines, DNA Vaccines

2) By Pharmaceuticals: Anti-Infective Agents, Anti-Inflammatory Drugs, Parasiticides, Pain Management Medications

3) By Medicinal Feed Additives: Probiotics, Prebiotics, Antimicrobials, Enzymes

4) By Diagnostics: Laboratory Diagnostic Tests, Point-Of-Care Testing Devices, Imaging Equipment

5) By Equipment And Disposables: Surgical Instruments, Monitoring Devices, Disposable Syringes And Needles

6) By Other Products: Nutraceuticals, Supplements, Herbal Medicines

What Are the Leading Regions in the Animal Health Market Expansion?

North America was the largest region in the animal health market in 2024. The regions covered in the animal health market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

How Is the Animal Health Market Classified and Defined in Market Analysis?

Animal health is defined as a term that covers animal diseases and the relationship between animal welfare, environment protection, human health, and food safety. Animal health is used for sustaining the healthy development of animals.

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