Major players in the animal health market are Elanco Animal Health Incorporated, Merck Animal Health, Zoetis Inc., Boehringer Ingelheim International GmbH, Ceva Sante Animale, Heska Corporation, Vetoquinol SA, Virbac, Bayer AG, Novartis , Biogenesis Bago, Intervet International BV, IDEXX Laboratories Inc., Hester Biosciences Ltd., and Intas Pharmaceuticals Ltd.
The global animal health market is expected to grow from $46.95 billion in 2022 to $50.99 billion in 2023 at a compound annual growth rate (CAGR) of 8.6%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The animal health market is expected to reach $70.17 billion in 2027 at a CAGR of 8.31%.
The animal health market consists of sales of biologics and flea and tick medications.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
Animal health is defined as a term that covers animal diseases and the relationship between animal welfare, environment protection, human health, and food safety. Animal health are used for sustaining the healthy development of animals.
North America was the largest region in the animal health market in 2022. The regions covered in animal health report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main products in animal health market are vaccines, pharmaceuticals, medicinal feed additives, diagnostics, equipment and disposables and others.Commercial animals or livestock can be defined as living animals that are grown or raised for commercial purposes.
Animal health is used for improving the productivity of commercial animals, extracting income, and keeping all animals disease free.These are used by commercial and companion animal types through oral, parenteral and topical route of administration.
These are used by various end users such as veterinary hospitals and clinics, animal care and rehabilitation centers and diagnostic centers.
The increasing prevalence of zoonotic diseases will support the growth of the animal health market going forward.Zoonotic diseases can be defined as infectious diseases that can be transmitted between different animal species to humans or from humans to animals.
Monitoring and safeguarding animal health using different methods helps in controlling zoonosis and can help in protecting public health.For instance, according to World Health Organization, a Switzerland-based specialized agency of the United Nations, in Africa, there was an increase of 63% in the number of zoonotic outbreaks from 2012-2022 as compared to last decade.
Zoonotic diseases cause 2.5 billion cases of human illness and 2.7 million human deaths every year globally. Therefore, the increasing prevalence of zoonotic diseases will propel the animal health market.
Technological advancements are the key trends gaining popularity in the animal health market.Major market players are concentrating their efforts on introducing new and advanced technologies to strengthen their position in the market.
For instance, in April 2022, Elanco Animal Health Incorporated, a US-based animal health company, and Ginkgo Bioworks, a US-based biotechnology company, launched October 2022, Merck Animal Health, a US-based company that develops, manufactures, and markets a broad range of veterinary medicines and services launched Animo GPS, an activity and behaviour monitor for dogs with GPS tracking capabilities. The product enables real-time tracking with position updates starting every five seconds when in "Lost Dog Mode" and may notify pet owners within 20 seconds if their dog exits its assigned "Safe Zone." Smart technology is used by Animo GPS to track a dog’s individual activity levels and behaviour within an intuitive mobile app. Data on barking, scratching, shaking, and sleep duration are all recorded by the device. If there are any major changes in these behaviours, it can utilize an adaptive algorithm to analyze this information and issue an alert via the app
In July 2022, Dechra Pharmaceuticals plc, a UK-based business involved in the development and marketing of veterinary products acquired Piedmont Animal Health for $210 million.With this acquisition, Dechra Pharmaceuticals plc will entirely be focused on growing the human health business.
Piedmont Animal Health is a US-based specialty pharmaceutical company focused on human and animal health therapeutics.
The countries covered in the animal health market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from goods and/or services sold within the specified market and geography through sales, grants, or donations in terms of currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values – that is, they are revenues generated by organizations in the specified geography within the specified market, irrespective of where they are produced. It does not include revenues from resales either further along the supply chain or as part of other products.
The animal health market research report is one of a series of new reports that provides animal health market statistics, including animal health industry global market size, regional shares, competitors with a animal health market share, detailed animal health market segments, market trends, and opportunities, and any further data you may need to thrive in the animal health industry. This animal health market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.