In-Depth Insights into the Artificial Intelligence (AI) In Animal Health Market: Growth, Trends, and Opportunities for 2025-2034
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What key factors are powering the surge in the artificial intelligence (ai) in animal health market right now?
The market size for artificial intelligence (AI) in animal health has seen a quick expansion in the previous years. The market is projected to escalate from a value of $1.45 billion in 2024 to reach $1.74 billion by 2025, boasting a compound annual growth rate (CAGR) of 19.8%. The historical growth rate can be linked to an increase in AI applications, the presence of AI-based solutions, actions taken by main corporations, rising expenditure on animals, and the incorporation of AI in veterinary diagnostics.
How fast Is the artificial intelligence (ai) in animal health market expected to grow, and what’s its future value?
The market size for artificial intelligence (AI) in animal health is forecasted to experience considerable expansion in the coming years. By 2029, the market is predicted to reach $3.57 billion with a compound annual growth rate (CAGR) of 19.7%. Factors contributing to this development in the forecast period include the accurate management of livestock and veterinary health, data-driven insights and revolutionary solutions, distance monitoring and diagnosis, early detection of diseases and identification of anomalies, preemptive healthcare, and customized medicine. The key trends expected during the forecast period encompass progress in veterinary diagnostics, proliferated uptake of AI technology, improved disease detection and surveillance, and a heightened focus on animal welfare and conservation.
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What are the leading drivers of growth in the artificial intelligence (ai) in animal health market?
The rise in spending for animal welfare is predicted to stimulate the expansion of the artificial intelligence market in animal healthcare. Spending on animal health encompasses the aggregate sums of money invested in preserving and enhancing animal wellness. The escalating expenses in animal health are attributed to increased awareness, the escalating trend of pet humanization, and the increasing demand for sophisticated veterinary care services – including groundbreaking technologies like artificial intelligence. Pet owners with substantial spending power can afford AI-enabled telehealth services and remote surveillance solutions, which facilitate consistent health tracking of their pets and virtual meetings with vets. Illustratively, in June 2023, the American Pet Products Association, an American organization representing the pet industry, reported that Americans expended $136.8 billion on pet health in 2022. This amount reflects an upsurge of 10.68% from the preceding year, which was $123.6 billion. Additionally, vet care services accounted for $35.9 billion of this total. Consequently, the boosting expenditures on animal healthcare are fueling the expansion of the artificial intelligence market in this field.
What are the key segments defining the artificial intelligence (ai) in animal health market?
The artificial intelligence (AI) in animal health market covered in this report is segmented –
1) By Solution: Hardware, Software And Services
2) By Technology: Machine Learning, Natural Language Processing (NLP), Computer Vision, Other Technologies
3) By Animal Type: Companion Animals, Production Animals
4) By Application: Diagnostics, Identification, Tracking, And Monitoring, Other Applications
5) By End-Use: Veterinary Clinics And Hospitals, Research Institutions, Farms And Livestock Producers
Subsegments:
1) By Hardware: Diagnostic Devices, Wearable Health Monitoring Devices, Automated Feeding Systems
2) By Software And Services: AI-Powered Diagnostic Tools, Predictive Analytics Software, Health Management Platforms, Consulting Services, Implementation And Integration Services, Maintenance And Support Services, Training And Educational Programs
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Who are the key players steering the development of the artificial intelligence (ai) in animal health market?
Major companies operating in the artificial intelligence (AI) in animal health market are Microsoft Corporation, International Business Machines Corporation, Zoetis Inc., VCA Animal Hospitals Inc., IVC Evidensia, IDEXX Laboratories Inc., Merck Animal Health, Heska Corporation, Agria Pet Insurance, PrecisionHawk, SignalPET, ImpriMed Inc., PetPace Ltd., VetNOW, Shenzhen Mindray Animal Medical Technology Co. Ltd., EIO Diagnostics Inc., Connecterra, GuardianVets, Halter USA Inc., Petriage Inc., Moichor Inc., OneCup Al, AgGenetics Inc., IMV Technologies, Felcana, Vet-Al, Alpha Phenomics Inc.
What emerging trends are influencing the growth of the artificial intelligence (ai) in animal health market?
Prominent organizations in the AI animal health sector are producing innovative technologies, like AI-based systems for cattle feed suggestions, to enhance the nutrition of livestock and farm administration methods. The goal of this technology is to increase livestock farming productivity by customizing feeding plans for singular animals or groups based on factors such as age, weight, health condition, and nutritional needs. For instance, Precision Livestock Technologies, a US company specializing in software and hardware solutions for livestock feeding and health, launched the first AI system to predict cattle feed intake and give feeding advice in January 2024. The system formulates daily quantitative feeding forecasts using hundreds of information points from PLT’s machine vision bunk management system and external data sources. Aspects such as feeding rates, feeding times, feeding cycles, cattle behavior, ration type, weather, and other elements are analyzed by the system.
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Which regions are most influential in expanding the artificial intelligence (ai) in animal health market?
North America was the largest region in the artificial intelligence (AI) in animal health market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the artificial intelligence (AI) in animal health market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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