Animal Health Market

Global Animal Health Market Statistics:

The global animal health market size reached USD 39.0 billion in 2024. Looking forward, IMARC Group expects the market to reach USD 51.3 billion by 2033, exhibiting a growth rate (CAGR) of 2.79% during 2025-2033. The market is driven by the growing number of pet owners and their desire for high-quality veterinary care, the rising awareness towards zoonotic diseases, and various technological advancements across the globe.

Animal Health Market Analysis:

• Major Market Drivers: Key drivers are the inflating pet ownership rates in developing countries and the elevating income levels of consumers, which are propelling the demand for advanced and specific veterinary products and services. Moreover, the expanding awareness towards the risks of zootonic diseases among farmers and pet owners is acting as another significant growth-inducing factor.
• Key Market Trends: The increasing focus on preventive healthcare, escalating advancements in biotechnology and pharmaceuticals, and the emerging pet humanization and specialty pet care trends are among the key market trends.
• Competitive Landscape: Some of the major market players in the market include Bayer, Elanco, Merck, Merial, Zoetis Inc., Biogenesis Bago, Boehringer Ingelheim, Ceva Sante Animale, Heska, Neogen, Novartis, Thermo Fisher Scientific, Vetoquinol, and Virbac, among many others.
• Geographical Trends: North America exhibits a clear dominance of the market, owing to its large population of pet owners and high levels of financial affluence, which encourages pet owners to prioritize the well-being and health of their pets.
• Challenges and Opportunities: The major challenges affecting the market are the escalating incidences of zootonic diseases, the rising resistance to antibiotics and related medications shown in certain species, and regulatory hurdles slowing the pace of research and development (R&D) activities. Key opportunities include the advent of digital health, advancements in biotechnology, and the elevating requirement for livestock products across the globe, which is driving the animal health market demand.
   

Animal Health Market Trends:

Increasing Focus On Preventive Healthcare

The animal health industry statistics suggest that it is experiencing a significant shift toward preventive healthcare practices for both companion animals and livestock. Pet owners and livestock producers recognize the importance of early detection and proactive management of health issues to improve overall animal well-being and reduce the risk of diseases. In May 2022, the Central Government of India implemented the Livestock Health and Disease Control Schemes with a budget of Rs 525 crores to control the economically essential livestock diseases and to undertake the necessary functions related to animal health in the country. Other than this, numerous factors are complemented by a desire to make animal husbandry more economical, as animal diseases account for 10-15% of production losses in livestock establishments. Preventive healthcare practices are also on the rise among Gen Z pet owners across countries. For example, in India, there has been a significant rise in pet owners’ visits to the veterinarian, regulation of timely vaccinations, and eagerness for feeding pets with balanced and nutritious diets. As per the data published by the Global Health Security Index, Mexico, the Ministry of Health published its National Health Promotion Days plan, which includes the Guidelines for Disease Prevention and Control Programs: Zoonosis. The recommendations reflect on the idea of One Health and notably address campaigns to stop and prevent the spread of brucellosis, rabies, and porcine tapeworm.

Advancements In Biotechnology and Pharmaceuticals

The animal health sector is witnessing rapid advancements in biotechnology and pharmaceuticals, which are transforming the way diseases are diagnosed and treated in animals. Cutting-edge research and innovative technologies have led to the development of specialized therapies, vaccines and precision medicines that are tailored to specific animal species and conditions. Biotechnological breakthroughs, such as gene editing, cell-based therapies, polymerase chain reaction (PCR), DNA sequencing, etc., offer promising solutions for challenging diseases. Additionally, pharmaceutical companies are investing in research and development (R&D) to create more effective and safer medications for animals. For instance, QBiotics Group Limited (QBiotics), an Australian life sciences company developing novel small molecule anticancer and wound healing pharmaceuticals, received approval from the Australian Pesticides and Veterinary Medicines Authority (APVMA) for the veterinary product STELFONTA (tigilanol tiglate). This approval represents Australia's first pharmaceutical treatment available for all grades of canine non-metastatic MCT. Biotechnology is facilitating the creation of advanced imaging technologies, including magnetic resonance imaging (MRI) and computed tomography (CT) scans, to provide detailed insights related to the internal structures and abnormalities in animals, including pets and livestock.

Growing Pet Humanization and Specialty Pet Care

The evolving relationship between humans and their pets has led to a phenomenon known as pet humanization. Pets are increasingly regarded as integral family members, resulting in a significant shift in consumer behavior in the pet care market. For example, in the US, 35% of young adults (aged 24 to 35) have either already become new pet owners or are planning to adopt a pet in their families soon and 19% of them brought home a new pet during the COVID-19 lockdown. Pet owners are willing to spend more on premium and specialized pet care products and services to ensure their beloved companions lead healthy and fulfilling lives. This trend has bolstered the demand for high-quality pet nutrition products, personalized treatments, advanced veterinary care, and a wide range of specialty items. For instance, the demand for pet care products, such as activity tracking collars, has risen recently, especially from the millennial or Gen Y generation, to measure their pet's agility and to play sports. For example, in the United Kingdom around 100,000 dogs have now been fitted with activity monitoring devices, according to PitPat, a leading manufacturer of dog activity monitors

Animal Health Market Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the market, along with forecasts at the country and regional levels for 2025-2033. Our report has categorized the market based on animal type and product type.

Breakup by Animal Type:

• Commercial
• Companion 
   

Commercial holds the largest animal health market share

A detailed breakup and analysis of the market based on the animal type has also been provided in the animal health industry overview and report. This includes commercial and companion. According to the report, commercial accounted for the largest market share.

The commercial segment typically includes animals, such as livestock and poultry, that are reared for commercial needs like milk and meat. Producers and farmers are increasingly focused on maintaining the health and productivity of their herds or flocks due to the rising demand for animal-derived products, including meat, dairy, and eggs. Healthy animals lead to higher yields and improved product quality, which directly impacts the profitability of commercial operations. To achieve optimal productivity, producers are investing in preventive healthcare measures, like vaccinations, parasite control, and disease management. This in turn, has augmented the demand for a wide range of animal health products, such as vaccines, pharmaceuticals, feed additives, and hygiene solutions. The rising collaboration between commercial animal producers and veterinary professionals ensures the implementation of best practices in animal health management, thus favoring the market growth. For instance, with an investment of up to US$ 10 Million the Asian Development Bank (ADB) signed an agreement to take a stake in Zenex Animal Health India Private Limited (Zenex) to increase Zenex's production and distribution of quality animal health care products and help boost farmer incomes by mitigating livestock disease risk.

Breakup by Product Type:

• Pharmaceuticals 
• Biologicals
• Medicinal Feed Additives
• Diagnostics 
   

Pharmaceuticals represent the most popular product type

The animal health industry report has provided a detailed breakup and analysis of the market based on the product type. This includes pharmaceuticals, biologicals, medicinal feed additives, and diagnostics. According to the report, pharmaceuticals represented the largest segment.

Pharmaceutical products cater to both companion animals and livestock, helping prevent and treat diseases, manage chronic conditions, and enhance overall animal well-being. Veterinary pharmaceutical companies are investing heavily in research and development (R&D) to create innovative and effective drugs tailored to specific animal species and health needs, thereby contributing to the segment growth. For instance, in March 2022, Hacarus Inc, launched its ECG platform, along with DS Pharma Animal Health. The device measures and analyzes the heart condition of dogs, to aid in the early detection of cardiac disease, the second leading cause of death for canines. Moreover, continuous advancements in pharmaceutical technologies, such as controlled-release formulations and personalized medicine, further optimize treatment outcomes. For instance, the Canadian Food Inspection Agency regulates veterinary biologics like vaccines to ensure that the products used on animals in the country are pure, potent, safe, and effective. The import of veterinary vaccines to the country needs a valid import permit issued by the CFIA-CCVB in Ottawa.

Breakup by Region:

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

North America exhibits a clear dominance in the market 

The report has also provided a comprehensive analysis of all the major regional markets, which include North America, Europe, Asia Pacific, Middle East and Africa, and Latin America. According to the report, North America accounted for the largest market share.

North America held the biggest share in the market since the region has a large population of pet owners who prioritize the health and well-being of their companion animals, which has augmented demand for veterinary products and services. Moreover, the expanding livestock industry in North America fuels the need for animal health solutions to ensure the health and productivity of the commercial animal sector. Additionally, the presence of leading pharmaceutical companies and research institutions in the region that foster continuous innovation in animal health products, including vaccines, pharmaceuticals, and diagnostics has catalyzed the market growth. Another major contributing aspect is the introduction of supportive government regulations and initiatives promoting animal welfare and biosecurity, encouraging investments in the animal health industry, thereby propelling the market growth. In April 2022, Bovine somatotrophin, an animal growth hormone, was approved by the FDA to increase milk production in dairy cows. Government authorities are taking steps to encourage the participation of different players and various hormone therapies across the world to make the North American market a preferable choice.

Competitive Landscape:

The market is experiencing steady growth as key players are introducing several cutting-edge innovations to address evolving challenges and enhance animal care. They are developing advanced vaccines and therapeutics targeting specific diseases prevalent in both companion animals and livestock. Additionally, novel diagnostic tools employing advanced technologies, such as DNA testing and point-of-care devices, have been introduced by manufacturers to enable faster and more accurate disease detection.

Key players are also investing in telemedicine and digital health solutions, facilitating remote consultations and personalized treatment plans for pet owners. Furthermore, the integration of data analytics and artificial intelligence (AI) technologies has improved decision-making in animal health management, optimizing treatment protocols and predictive modeling. These latest innovations by leading players in the market reflect their commitment to delivering state-of-the-art solutions and driving the animal health industry toward a more efficient and compassionate approach to animal care. We also expect the market to witness new entrants, consolidation of portfolios, and increased collaborations to drive healthy competition within the domain during the forecast period.

The report has provided a comprehensive analysis of the competitive landscape in the market. Detailed profiles of all major companies have also been provided. Some of the animal health industry top companies 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
   

(Please note that this is only a partial list of the key players, and the complete list is provided in the report.)

Animal Health Market News:

• February 2024: American animal health company Merck Animal Health, which focuses on developing veterinary pharmaceuticals, signed an agreement to acquire Indiana-based pharmaceutical manufacturing firm Elanco Animal Health’s aquatic-focused business for US$ 1.3 billion. The acquisition includes Elanco’s entire portfolio of medicines, vaccines, supplements, and nutritionals for aquatic species, two manufacturing facilities in Vietnam and Canada, as well as a research facility in Chile. The deal is expected to be finalised by mid-2024, subject to regulatory approvals.
• December 2023: Canadian pharmaceutical manufacturing enterprise IntelGenx Corp. announced that it has entered into development and license agreements with a wholly owned subsidiary of US-based Covenant Animal Health Partners, LLC. Under the agreement terms, the latter will fund development and manufacturing of a drug for animal health based on IntelGenx’s VetaFilm drug delivery system. This marks IntelGenx’s third collaboration in three years as it expands its animal health business.
• August 2023: Massachusetts-based Akston Biosciences announced that it would invent, develop and manufacture protein therapeutics for Delaware-based veterinary services firm Companion Animal Health. Akston Biosciences would be using its versatile Ambifect Fc-fusion platform along with its cGMP biologics manufacturing facility for the same. Akston is also spinning off its infectious disease vaccine business into a wholly-owned subsidiary named Vakston, Inc.

Animal Health Market Report Scope:

Key Benefits for Stakeholders:

• IMARC’s industry report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the market outlook from 2019-2033.
• The research report provides the latest information on the market drivers, challenges, and opportunities in the global market.
• The study maps the leading, as well as the fastest-growing, regional markets. It further enables stakeholders to identify the key country-level markets within each region.
• Porter's five forces analysis assists stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the animal health industry and its attractiveness.
• The competitive landscape allows stakeholders to understand their competitive environment and provides insight into the current positions of key players in the market.