The global Animal Health market size is expected to be worth around US$ 74.8 billion by 2028, according to a new report by Vision Research Reports.
The global Animal Health market size was valued at US$ 48.10 billion in 2020 and is anticipated to grow at a CAGR of 5.10% during forecast period 2021 to 2028.
The market is driven by technological advancements in veterinary care. For instance, MediLabSecure, a laboratory network project (2014-2021), was initiated to identify emerging viruses and pathogens in 19 countries in the Mediterranean regions. In addition, the emergence of veterinary health information systems, specifically in developed economies, is expected to provide high growth potential in the future.
With the help of these systems, data generated in veterinary clinics can be uploaded on the internet, which can be further shared with other researchers and clinicians. Incorporation of this technology will facilitate real-time analysis for fluctuations in disease prevalence. As a result of the aforementioned factors, it is presumed that there will be a significant improvement in the overall penetration rate of veterinary health products, which is anticipated to fuel market growth.
North America captured the largest share of the global market owing to technological advancements, rising incidence of zoonotic diseases, an increasing number of pet owners, and a wide range of definitive measures adopted by welfare organizations. Asia Pacific is expected to exhibit the fastest CAGR over the forecast years as a result of consistent R&D investments by prominent players and their efforts to commercialize branded and generic therapeutics at competitive prices.
The feed additives segment led the market in 2020 accounting for the highest revenue share of over 39%. It is estimated to retain its dominant position throughout the forecast period on account of consistent advancements in feed additives, including the use of metabolic modifiers, minerals, and . The aforementioned additives facilitate a significant increase in muscle growth, thereby optimizing feed utilization.
In addition, the growing focus of government healthcare organizations on the enhancement of agricultural practices and animal health is presumed to be responsible for the segment growth. For instance, certain additives are permitted and recommended by the European Union to use in feed, which includes vitamins, antioxidants, and performance promoters. However, the diagnostics segment is expected to register the fastest CAGR from 2021 to 2028.
Pharmacies at veterinary hospitals & clinics accounted for the dominant share of more than 50% in 2020. The increasing number of hospital pharmacies, coupled with high procedural volume as a consequence of frequent readmission of pets for treatment, has supported the segment growth. Retail channels and e-commerce platforms also accounted for significant shares of the global market.
The retail pharmacy segment is expected to grow at a moderate rate during the forecast period. Major manufacturers rely on only licensed veterinarians and authorized distributors for the distribution of medications and . This is anticipated to propel the segment growth over the forecast period. is estimated to be the fastest-growing distribution channel segment from 2020 to 2028 due to various advantages, such as increased convenience.
The veterinary hospitals & clinics end-use segment accounted for the largest share of 71.0% in 2020. The dominant share captured by this segment is a result of various applications, such as clinical pathology, toxicology tests, and therapy. The availability of a wide range of treatments as well as diagnostic options in veterinary hospitals and clinics is a high impact rendering growth driver for this segment.
Certain vaccines are only available in accredited veterinary hospitals and clinics, which is also fueling the segment growth. Moreover, various government animal welfare organizations have issued guidelines for safety practices and standards to be implemented in veterinary hospitals and clinics, which has broadened the scope for the growth of the segment over the past few years.
The production animal segment dominated the global market with a revenue share of over 62% in 2020. Policymakers in various countries are striving to achieve total food security due to rising concerns regarding food safety and sustainability, which propels large-scale food production and results in greater rearing of livestock.
The policies are focused on long-term sustainability, which can be achieved through a combination of improved productivity and greater attention to livestock veterinary healthcare. According to the Food and Agriculture Organization, in the emerging economies, animal-based food products account for one-third of human protein consumption, leading to an increase in livestock productivity, which is critical to meet the dietary needs of the growing human population. These factors cumulatively are responsible for the significant share captured by the production animals segment.
North America captured the maximum revenue share of the global market of over 32% in 2020 owing to the wide range of definitive measures adopted by various government animal welfare organizations that are consistently working for overall improvement in animal health. Furthermore, technological advancements, the rising incidence of zoonotic diseases, and the increasing number of pet owners are expected to boost the market growth in this region.
On the other hand, Asia Pacific is expected to be the fastest-growing regional market over the forecast years. This growth is attributed to the factors, such as consistent R&D investments by prominent players in the field of animal health and their efforts to commercialize branded and generic therapeutics at a relatively inexpensive price. Moreover, rising awareness about pet nutrition and supplies and increasing disposable income levels are projected to augment market growth in the region.
Merck Animal Health
Ceva Santé Animale
Boehringer Ingelheim GmbH
Animal Type Outlook
Sheep & Goats
Live Attenuated Vaccines
Distribution Channel Outlook
Veterinary Hospitals & Clinics
Point-of-care Testing/In-house Testing
Veterinary Hospitals & Clinics
Middle East & Africa
United Arab Emirates
The Animal Health market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.
The report provides size (in terms of volume and value) of Animal Health market for the base year 2020 and the forecast between 2021 and 2028. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.
This report focuses on the global Animal Health market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Animal Health market development in United States, Europe and China.
It is pertinent to consider that in a volatile global economy, we haven’t just conducted Animal Health market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.
In terms of production side, this report researches the Animal Health capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.
In terms of consumption side, this report focuses on the consumption of Animal Health by regions (countries) and application.
Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global Animal Health market. These figures have been provided in terms of both revenue and volume for the period 2017 to 2028. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.
With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major Animal Health market companies.
Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of Animal Health market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.
The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.
Overall, this is an in-depth research report specifically for the Animal Health industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.
The Animal Health market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to Animal Health market.
Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of Animal Health market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.
Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new Animal Health market. These factors have benefited the growth of the global market for Animal Health. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.
New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for Animal Health. The global market is segmented on the basis of region, application, en-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).
In this study, the years considered to estimate the market size of Animal Health are as follows:
Reasons to Purchase this Report:
- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.
This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.
Market Size Estimation
Top-down and bottom-up approaches are used to estimate and validate the global market size for company, regional division, product type and application (end users).
The market estimations in this report are based on the selling price (excluding any discounts provided by the manufacturer, distributor, wholesaler or traders). Market share analysis, assigned to each of the segments and regions are achieved through product utilization rate and average selling price.
Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.
All possible factors that influence the markets included in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. The market size for top-level markets and sub-segments is normalized, and the effect of inflation, economic downturns, and regulatory & policy changes or others factors are accounted for in the market forecast. This data is combined and added with detailed inputs and analysis from Vision Research Reports and presented in this report.
Market Breakdown and Data Triangulation
After complete market engineering with calculations for market statistics; market size estimations; market forecasting; market breakdown; and data triangulation. Extensive primary research was conducted to gather information and verify and validate the critical numbers arrived at. In the complete market engineering process, both top-down and bottom-up approaches were extensively used, along with several data triangulation methods, to perform market estimation and market forecasting for the overall market segments and sub-segments listed in this report.
Secondary Sources occupies approximately 25% of data sources, such as press releases, annual reports, Non-Profit organizations, industry associations, governmental agencies and customs data, and so on. This research study includes secondary sources; directories; databases such as Bloomberg Business, Wind Info, Hoovers, Factiva (Dow Jones & Company), TRADING ECONOMICS, and avention; Investing News Network; statista; Federal Reserve Economic Data; annual reports; investor presentations; and SEC filings of companies.
In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. The primary sources from the supply side include product manufacturers (and their competitors), opinion leaders, industry experts, research institutions, distributors, dealer and traders, as well as the raw materials suppliers and producers, etc.
The primary sources from the demand side include industry experts such as business leaders, marketing and sales directors, technology and innovation directors, supply chain executive, end users (product buyers), and related key executives from various key companies and organizations operating in the global market.
The study objectives of this report are:
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