The global animal healthcare market size is expected to worth around US$ 177.1 Bn by 2026 and growing at a CAGR of around 4.4% during the forecast period 2019 to 2026.
Animal healthcare is concerned with caring for the health of the animals. It encompasses various entities from the pet owners and farmers to animal welfare officers and veterinary staff. The aforementioned entities are involved in animal health as they have to understand the health needs of the specific animals in their care and well being. Animal healthcare is dependent on the parasiticides, feed additives, vaccines, anti-inflammatories, and anti-infectives among others. Various animal healthcare services provided by the major players include hospitalization, surgical care, wellness programs, behavioral counseling, boarding, grooming, and prescription heartworm and flea medication.
The increasing focus towards the development of healthcare products and services for companion animals as well as the growing availability of veterinary services in emerging economies is supporting the market growth. The increasing disposable income, pet ownership, and continued technological changes are positively impacting on the animal healthcare market. The presence of sophisticated and technologically advanced instruments in the veterinary pharmacies is additionally contributing to the market value. Moreover, the increasing purchasing power of individuals in developing countries and the launch of animal-specific products due to the growing number of pet adoption are projected to provide potential opportunities over the forecast period.
On the other hand, lack of awareness and high cost associated with animal healthcare drugs in developing market additionally, mismatch of data management systems create complications in the exchange of knowledge between the scientific community, policymakers, and the animal food production sector are some of the factors likely to hamper the market growth to an extent.
By animal type, livestock animals held the major share in the animal healthcare market
The increasing demand for meat and dairy products owing to the increasing global population is particularly supporting the segment growth. As per the stats, the United States is dominating the global beef and veal producing market and has produced around 11.5 million tons of beef and veal in 2016. The figures are followed by Brazil and the European Union respectively in the same year. According to the 2018 estimates of the Food and Agriculture Organization of the United Nations, the global milk output is increased to 2.2% from 2017 which is equal to 843 million tones. The increased production is particularly the contribution of India, Turkey, the European Union, Pakistan, the United States of America and Argentina.
Veterinary hospitals segment accounted for the major share in 2018
On the basis of the distribution channels, the veterinary hospital segment dominated the animal healthcare market with a major share in 2018. The veterinary hospital segment is particularly gaining positive growth due to the rising preference of pet owners because complete healthcare solutions for pets are available in hospitals. Moreover, according to the 2017-2018 Survey conducted by the American Pet Products Association (APPA) for National Pet Ownership, Americans are the owner of around 78 million dogs and approx. 44% of households have dogs in the country.
The market research study on “Animal Healthcare Market– Global Industry Analysis, Market Size, Opportunities and Forecast, 2019 – 2026”, offers a detailed insight into the global animal healthcare market entailing insights on its different market segments. Market dynamics with drivers, restraints and opportunities with their impact are provided in the report. The report provides insights into the global animal healthcare market, its product type, application, and major geographic regions. The report covers basic development policies and layouts of technology development processes. Secondly, the report covers global Animal Healthcare market size and volume, and segment markets by product type, application, and geography along with the information on companies operating in the market. The animal healthcare market analysis is provided for major regional markets including North America, Europe, Asia Pacific, Latin America and Middle East and Africa. For each region, the market size and volume for different segments have been covered under the scope of the report.
The players profiled in the report include Bayer, Boehringer Ingelheim, Dechra Pharmaceuticals, Elanco, Merck, Zoetis, B. Braun Vet Care, Medtronic, IDEXX Laboratories, and Neogen. The major players were involved in introducing new facilities and advance products to expand the market share.
Market By Product
Modified live vaccines (MLV)
Killed inactivated vaccines
Prebiotics and probiotics
Market By Animal Type
Market By Distribution Channel
Pharmacies & drug stores
Market By Geography
Middle East & Africa
The market for animal healthcare is expected to reach the market value of around US$ 177.1Bn by 2026.
The animal healthcare market is expected to grow at a CAGR of around 4.4% from 2019 to 2026
Livestock animals segment dominated the animal healthcare market in 2018.
The increasing focus towards the development of healthcare products and services, increasing disposable income and pet ownership, presence of sophisticated and technologically advanced instruments in the veterinary pharmacies are some of the major factors accelerating the market growth.
Veterinary hospitals segment is dominating the animal healthcare market on the basis of distribution channel.
Bayer, Boehringer Ingelheim, Dechra Pharmaceuticals, Elanco, Merck, Zoetis, B. Braun Vet Care, Medtronic, IDEXX Laboratories, and Neogen are some of the major player in the animal healthcare market.
North America region dominated the animal healthcare market with major share in 2018.