Introduction:

There is a significant increase in pet ownership in developed countries. Similarly, the number of livestock animals is also growing. Additionally, there is a trend of increasing pet adoption in developing countries. These factors along with increasing awareness of animal health are resulting in creating more demand of medications for animal disease treatment and prevention. The medicated feed additives and vaccines are also an important part of animal health. Also, the diagnostic products for the diagnosis of several animal diseases are the important part of animal health.

The global Animal Health market size was estimated to be at USD XXX million in 2019, and is expected to grow at a CAGR of XX% during forecast period to reach USD XXX million in 2027.

Market Dynamics:

The increasing demand for testing of zoonotic diseases is anticipated to drive the growth of the diagnostics segment. The growing animal food consumption is expected to result in more population of livestock animals. Increased dairy production in Asia Pacific region and increased meat production in countries like China and Brazil to fuel the growth of the market. However, due to increasing incidences of zoonotic diseases there is a shift towards vegetarian diet. The market is set to witness significantly high growth rate in Asian countries, where lies the opportunity for market players.

COVID-19 Impact:

The impact of COVID-19 pandemic has resulted in the disruption of production as well as distribution network due to logistic issues. Moreover, the concerns over the meat in China due to outbreak have resulted in negative impact on the global animal health market. The negative impact of COVID-19 pandemic has been observed on global animal health market.

Global Animal Health Market

Source: Precise Market Intelligence, 2020

Segmentation:

The market has been segmented based on form, indication, end user and region.

  • By Product
    • Diagnostics
    • Drugs
    • Vaccines
    • Medicated Feed Additives
       
  • By Animal Type
    • Companion Animals
    • Livestock Animals
       
  • By Distribution Channels
    • Veterinary Hospitals
    • Veterinary Clinics
    • Others
       
  • By Region
    • North America (U.S., Canada)
    • Europe (U.K., France, Germany, Italy, Spain, and rest of Europe)
    • Asia Pacific (China, Japan, India, and Rest of Asia Pacific)
    • South America (Brazil, Mexico, and Rest of South America)
    • Middle East & Africa (Saudi Arabia, UAE, South Africa, and Rest of Middle East & Africa)

Based on product type, the vaccine segment is expected to remain dominant throughout the forecast period due to high demand. Based on animal type, livestock animals segment accounted to highest market share. While, the veterinary hospitals segment dominated the end users, North America has the largest market share among regions.

Animal Health Market, By Region, 2019

Source: Precise Market Intelligence, 2020

Competition Landscape:

The prominent companies in the market are; Zoetis Inc., Jinyu Bio-Technology, Elanco Animal Health, Merck & Co. Inc, Boehringer Ingelheim, Phibro Animal Health, Ceva Sante Animale, Vetoquinol S.A, Dechra Pharmaceuticals Plc., Virbac, China Animal Husbandry, and others.

For better understanding of revenue contribution of each technology to the Animal Health Market, ask an expert analyst