Animal Health Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027

The global animal health market reached a value of US$ 34.9 Billion in 2021. Looking forward, the publisher expects the market to reach US$ 43.7 Billion by 2027, exhibiting a CAGR of 3.6% during 2022-2027. Keeping in mind the uncertainties of COVID-19, they are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic. These insights are included in the report as a major market contributor

Animals regularly require adequate care from their owners in order to have a good health. As the production of healthy livestock ensures safe food supply and retains the stability of consumer prices, regular monitoring of animal health and averting animal disease outbreaks have become indispensable for every country. As effective control and prevention is necessary for limiting the spread of zoonotic diseases among animals and human beings, the animal health market is gradually gaining traction across the globe. Moreover, pet and livestock owners nowadays are willing to spend on animal healthcare products and services owing to their inflating disposable incomes, growing awareness through print and electronic media, and the emerging trend of pet humanization

Global Animal Health Market Drivers:

Currently, the animal health industry is flourishing on account of rapid technological advancements and increasing research and development activities in the veterinary pharmaceutical industry. With the help of advanced technological systems, data produced in veterinary clinics can be now uploaded on the internet and shared with other researchers and clinicians. This technology also aids in facilitating real-time analysis of fluctuations in the prevalence of diseases. In order to optimize the veterinary healthcare sector, governments in several developed countries are also undertaking initiatives and implementing animal vaccination programs

Key Market Segmentation:

The publisher provides an analysis of the key trends in each sub-segment of the global animal health market, along with forecasts at the global and regional level from 2022-2027. Our report has categorized the market based on animal type and product type

Breakup by Animal Type:

• Commercial
• Companion

On the basis of animal types, the market has been bifurcated into commercial and companion animals. At present, commercial animals account for majority of the market share

Breakup by Product Type:

• Pharmaceuticals
• Biologicals
• Medicinal Feed Additives
• Diagnostics

Based on the product type, the animal health market has been divided into pharmaceuticals, biologicals, medicinal feed additives and diagnostics. Pharmaceuticals currently represent the largest product type

Regional Insights:

• North America
• Europe
• Asia Pacific
• Middle East and Africa
• Latin America

On a geographical front, North America enjoys the leading position in the global animal health market. Other regions include Europe, Asia Pacific, Latin America, and Middle East and Africa

Competitive Landscape:

The market is highly fragmented in nature with the presence of several small as well as large players who compete in terms of prices and quality. Some of the major players operating in the market include:

• Bayer
• Elanco
• Merck
• Merial
• Zoetis Inc

Biogenesis Bago
Boehringer Ingelheim
Ceva Sante Animale
Heska
Neogen
Novartis
Thermo Fisher Scientific
Vetoquinol
Virbac

Key Question Answered in this Report

1. What was the size of the global animal health market in 2021?
2. What is the expected growth rate of the global animal health market during 2022-2027?
3. What are the key factors driving the global animal health market?
4. What has been the impact of COVID-19 on the global animal health market?
5. What is the breakup of the global animal health market based on the animal type?
6. What is the breakup of the global animal health market based on the product type?
7. What are the key regions in the global animal health market?
8. Who are the key players/companies in the global animal health market?