Animal Healthcare Market Forecasts to 2028 – Global Analysis By Animal Type (Companion Animals, Livestock Animals/Farm Animals/Production Animals), Treatment (Arthritis, Difficult Dermatology Cases), and By Geography
According to Stratistics MRC, the Global Animal Healthcare Market is accounted for $139.00 billion in 2020 and is expected to reach $235.28 billion by 2028 growing at a CAGR of 6.8% during the forecast period. Increasing pet adoption for companionship among the elderly population, growing penetration of e-commerce platforms promoting online pharmacies, significant rise in demand for protein food, and increasing consumption of meat, milk and other animal byproducts are driving the market growth. However, high cost associated with animal healthcare drugs in low-middle income countries is hampering the market growth.
Animal healthcare is a role of preserving, guiding, and protecting animals from multiple diseases and implementing them vital veterinary services to improve their lifespan and yield. It focuses on effective animal health management through diagnosis and treatment of various diseases in animals. There are various governments and private corporations globally that are operating towards the improvement of the Animal Healthcare sector.
Based on the end user, the pharmacies & drug stores segment is anticipated to have lucrative growth during the forecast period, due to the detection and treatment of diseases, growing feed fabrication, the improved healthcare system for early diagnosis, and rising consciousness among consumers augment the demand for this segment.
By geography, North America is expected to have significant growth during the forecast period, owing to the significant rise in the number of pet animal acceptance in the U.S., wide range of products available of animal care, advanced technologies including genomics, biotech, and artificial intelligence (AI), strict government rules and regulations, and ongoing projects.
Some of the key players profiled in the Animal Healthcare Market include Hester Biosciences Ltd., Evonik Industries, Sanofi S.A., Bayer AG, Virbac SA, Intas Pharmaceuticals Ltd., Zoetis, Inc., Ceva Santé Animale, Norbrook Laboratories Limited, Boehringer Ingelheim GmbH, Merck & Co. Inc., Vetiquinol S.A., Cargill Inc., Phibro Animal Health Corporation, Nutreco N.V., Eli Lilly and Company, Koninklijke DSM N.V., and SeQuent Scientific Ltd.
Estimated Market Size in 2020:
USD 139.00 billion
Compound Annual Growth Rate (CAGR) from 2020 to 2028:
Predicted 2028 Value:
USD 235.28 billion
Tables, Graphs & Figures
Animal Type, Product, Sales Channel, Route Of Administration, Treatment, and End User.
Core Drivers and Opportunities:
Restraining Factors & Market Threats:
Animal Types Covered:
• Companion Animals
• Livestock Animals/Farm Animals/Production Animals
• Medical Devices & Disposables
• Feed Additives
• Veterinary Services
• Other Products
Sales Channels Covered:
• Distribution Channel
• Direct Channel
Route Of Administrations Covered:
• Oral Animal Healthcare
• Topical Animal Healthcare
• Parenteral Animal Healthcare
• Gastrointestinal Disease
• Difficult Dermatology Cases
End Users Covered:
• Veterinary Hospitals & Clinics
• Reference Laboratories
• Point of Care (POC) Testing/In-House Testing
• Pharmacies & Drug Stores
• Laboratory Testing Services
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2019, 2020, 2021, 2025 and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic analysis: Drivers and Constraints, Product/Technology Analysis, Porter’s five forces analysis, SWOT analysis, etc.
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
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• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Key Questions Answered In The Report
The Global Animal Healthcare Market is majorly driven by increase in the need for protein food, growing initiatives by various governments across regions, and rising consumption of meat, milk and other animal byproducts.
The online segment is growing at a highest CAGR owing to the preference for e-commerce channel owing to discounted prices of medicines, convenience for consumers (ordering at the click of button), rising digitization, easy access, and round the clock availability.
North America dominated with a significant market share due to growing espousal of animal healthcare drugs, rise in the number of pet animal acceptance in the U.S., surge in the cases of zoonotic animal diseases, and increased veterinarian population.
Asia Pacific market is growing at a highest CAGR owing to the increasing awareness related to livestock-related diseases, rising frequency of animal disease outbreaks, rising disposable income levels, and expansion in the number of livestock.
Key players in Animal Healthcare Market include Hester Biosciences Ltd., Evonik Industries, Sanofi S.A., Bayer AG, Virbac SA, Intas Pharmaceuticals Ltd., Zoetis, Inc., Ceva Santé Animale, Norbrook Laboratories Limited, Boehringer Ingelheim GmbH, Merck & Co. Inc., Vetiquinol S.A., Cargill Inc., Phibro Animal Health Corporation, Nutreco N.V., Eli Lilly and Company, Koninklijke DSM N.V., and SeQuent Scientific Ltd.
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