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What Is the Growth Rate of the Animal Health Market?
In recent times, the animal health market has seen considerable expansion. Its size is estimated to rise from $55.26 billion in 2024 to $59.91 billion in 2025, with a compound annual growth rate (CAGR) of 8.4%. The reasons for the market growth during the historic period include the globalization of food supply chains, the intensification of livestock farming, an upsurge in zoonotic diseases, adherence to regulatory compliance and standards, and a focus on preventive healthcare.
What Growth Rate Is Forecasted for the Animal Health Market by 2029?
In the upcoming years, the animal health market is anticipated to experience substantial growth, reaching a value of $82.04 billion in 2029, with a compound annual growth rate (CAGR) of 8.2%. Growth in this period can be linked to a concentrated approach to aquaculture health, a single health methodology, concerted global disease tracking efforts, the expansion of pet insurance, crisis readiness in animal agriculture, and the worldwide reach of animal health products. The predicted period’s significant trends include the integration of technology in diagnostics, biotechnology, genomics, the utilization of telehealth services, the digital transformation of the supply chain and distribution process, and joint research ventures.
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Which Key Companies Are Shaping the Future of the Animal Health Market?
Major companies operating in the animal health market include Elanco Animal Health Incorporated, Merck Animal Health, Boehringer Ingelheim International GmbH, Heska Corporation, Vetoquinol SA, Virbac, Bayer AG, Novartis AG, Biogenesis Bago, Intervet International BV, IDEXX Laboratories Inc., Hester Biosciences Ltd., Intas Pharmaceutucals Ltd., Dechra Pharmaceuticals, Kindred Biosciences, Phibro Animal Health Corporation, Neogen Corporation, Norbrook Laboratories, Huvepharma EOOD, Abaxis Inc., ECO Animal Health Group, Hipra, Zoetis Inc., Kemin Industries, DeLaval, Troy Laboratories, Parnell Pharmaceuticals, Ceva Sante Animale, Bimeda Inc., Animalcare Group, PetIQ, AdvaVet Inc.
Which Factors Are Driving Demand in the Animal Health Industry?
The rise in zoonotic diseases will bolster the expansion of the animal health market in the future. These ailments, known as zoonotic diseases, are infectious diseases that animals can transmit to humans or vice versa. The use of various methods to monitor and safeguard animal health aids in controlling zoonosis, which also contributes to public health protection. For example, the US-based National Library of Medicine reported in June 2023 that zoonotic diseases account for 2.5 billion human cases worldwide, causing approximately 2.7 million annual deaths. Hence, the escalation of zoonotic diseases will drive the growth of the animal health market.
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How Is the Animal Health Market Segmented by Several Divisions?
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 Emerging Market Trends Driving the Growth of the Animal Health Industry?
The animal health market is experiencing a surge in popularity due to emerging technological trends. Major players in the market are focused on introducing pioneering technologies in an effort to solidify their market standing. For instance, Elanco Animal Health Incorporated, an American animal health firm, and Ginkgo Bioworks, an American biotech firm, unveiled new advancements in April 2022. Additionally, in October 2022, Merck Animal Health, an American company involved in the development, production, and marketing of a wide array of veterinary medicines and services, launched Animo GPS. This product is a behavior and activity monitor for dogs with GPS tracking features, offering real-time tracking and sending position updates every five seconds when in ‘Lost Dog Mode’. It may also send out alerts to the dog’s owners within 20 seconds if the pet leaves its designated ‘Safe Zone’. Animo GPS uses advanced technology to monitor each dog’s specific behavior and activity levels via a user-friendly mobile app. The device logs data on barking, scratching, shaking, and sleeping patterns. Should considerable deviations occur in these behaviors, the device’s smart algorithm can process this information and send an alert through the app.
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Which Regions Are Driving Growth in the Animal Health Market?
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
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This Report Delivers Insight On:
1. How big is the animal health market, and how is it changing globally?
2. Who are the major companies in the animal health market, and how are they performing?
3. What are the key opportunities and risks in the animal health market right now?
4. Which products or customer segments are growing the most in the animal health market?
5. What factors are helping or slowing down the growth of the animal health market?
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