Animal Healthcare Market Size, Share, Competitive Landscape and Trend Analysis Report by Product Type, Animal Type, Distribution Channel, and Region: Global Opportunity Analysis and Industry Forecast, 2024-2033

The animal healthcare market was valued at $41.1 billion in 2023 and is estimated to reach $63.7 billion by 2033, exhibiting a CAGR of 4.9% from 2024 to 2033.

Market Overview

Animal healthcare refers to the branch of healthcare that focuses on the well-being, diagnosis, treatment, and prevention of diseases and injuries in animals. This field encompasses medical care for a wide range of animals, including pets (such as dogs, cats, and exotic animals), livestock (such as cattle, poultry, and swine), and even wildlife. This includes vaccinations, regular check-ups, parasite control, dental care, and nutrition management aimed at preventing diseases and promoting overall health. Veterinarians utilize various diagnostic tools and techniques, such as blood tests, imaging (like X-rays and ultrasounds), and laboratory tests, to diagnose illnesses and injuries in animals.

Key Takeaways

• The animal healthcare market study covers 20 countries. The research includes a segment analysis of each country in terms of value ($billion) for the projected period from 2024 to 2033.
• More than 1,500 product literatures, industry releases, annual reports, and other such documents of major animal healthcare industry participants along with authentic industry journals, trade associations' releases, and government websites have been reviewed for generating high-value industry insights.
• The study integrates high-quality data, professional opinions and analysis, and critical independent perspectives. The research approach intends to provide a balanced view of global markets and assist stakeholders in making informed decisions in order to achieve their most ambitious growth objectives.

Industry Trends

• In January 2023, Inspira Technologies announced that the U.S. Patent and Trademark Office (USPTO) granted a patent for its convertible dual lumen cannula. This innovation is expected to enhance procedures requiring precise fluid management in animal healthcare.
• In 2020, Zoetis launched Vetscan Imagyst a diagnostic platform that uses artificial intelligence to provide rapid and accurate parasite detection.

Key Market Dynamics

Increased awareness among pet owners and livestock producers about the importance of preventive healthcare measures is boosting the demand for vaccines, diagnostics, and other healthcare products. Innovations in veterinary medicine, such as advanced diagnostics, telemedicine, and minimally invasive surgeries, are improving the quality of care and expanding treatment options, driving market growth. Urbanization and changing lifestyles are leading to higher spending on pets and increasing demand for pet healthcare services and products.

Stringent regulatory requirements for veterinary drugs and healthcare products are projected to hinder market growth by increasing the time and cost of product development and approval. The high cost of advanced veterinary treatments and procedures may limit their accessibility, particularly in emerging markets with lower income levels. Lack of awareness about the importance of animal health and limited access to veterinary services in some emerging markets is also predicted to restrict market growth.

Growing pet ownership rates in emerging markets present significant growth opportunities for animal healthcare companies. There is a shift towards preventive healthcare measures for animals, creating opportunities for companies offering vaccines, parasite control products, and wellness services. Increasing awareness about the role of nutrition in animal health is also driving the demand for nutraceuticals and dietary supplements for pets and livestock.

Parent Market Analysis

The veterinary services market, a comprehensive segment within the broader animal health industry, encompasses a wide array of services dedicated to maintaining and improving the health and welfare of animals. This market includes routine veterinary care, emergency services, and specialized treatments such as surgery, dentistry, and oncology. Diagnostic services, including laboratory testing, imaging, and pathology, play a crucial role in accurately identifying health issues. Preventive care, comprising vaccinations, parasite control, and wellness programs, is also a significant component, aimed at preventing diseases and promoting long-term health.

Growth in the veterinary services market is driven by increasing pet ownership, higher spending on pet care, and advancements in veterinary medicine and technology. Awareness regarding animal health and welfare is on the rise, further driving demand for veterinary services. The market has also expanded into rural and underserved areas, making veterinary care more accessible. However, challenges such as the high costs of advanced treatments, a shortage of skilled veterinary professionals, and regulatory hurdles persist.

Market Segmentation

The animal healthcare market is segmented into product type, animal type, and distribution channel and region. On the basis of product type, the market is divided into pharmaceuticals, medical device, and veterinary services. As per animal type, the market is classified into livestock animals and companion animals. On the basis of distribution channel, the market is divided into retail, e-commerce, and hospital/ clinic pharmacy. Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

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Country Market Outlook

The animal healthcare market in India is witnessing a surge in demand for veterinary products and services to combat both existing and emerging diseases in animals. Global efforts promoting responsible antibiotic use and the increasing importance of animal welfare standards are shaping the industry. Furthermore, there is a notable increase in investments in R&D, as well as portfolio acquisitions, which are driving market growth in the country. For instance, in December 2023, Zenex, an Indian animal health company, acquired Ayurvet, a company specializing in ayurvedic and herbal medicines, topical treatments, and feed supplements for both production and companion animals. This acquisition expanded Zenex's portfolio and enhanced its geographic reach. Overall, the animal health market in India reflects a dynamic landscape that responds to evolving consumer preferences, technological advancements, and regulatory requirements.

Competitive Landscape

The major players operating in the animal health market include Zoetis, Ceva Santé Animale, Merck & Co., Inc., Vetoquinol S.A., Boehringer Ingelheim Gmbh, Elanco, Virbac, Mars Inc., Dechra Pharmaceuticals Plc, Idexx Laboratories, Inc, and others.

Recent Key Strategies and Developments

• In February 2024, Elanco Animal Health finalized its acquisition of Kindred Biosciences, a biopharmaceutical company focused on developing innovative drugs for pets. This acquisition strengthens Elanco's presence in the companion animal healthcare market.
•  In December 2023, Boehringer Ingelheim, a global pharmaceutical company, announced a collaboration with Vaxart, a biotechnology company, to develop oral vaccines for use in animals. This partnership aims to advance innovation in animal vaccine development.
•  In November 2023, IDEXX Laboratories introduced a novel diagnostic test called ‘FIP RealPCR Test’ for the detection of feline infectious peritonitis (FIP), a viral disease in cats. This test enhances IDEXX's portfolio of diagnostic solutions for veterinarians.

Key Sources Referred

1. Annual Reports
2. Investor Presentations
3. Press Release
4. Research Paper
5. D&B Hoovers
6. ZoomInfo Technologies LLC
7. National Library of Medicine
8. Science Direct Journal
9. Thermos Fisher Scientific
10. World bank
11. Animal Health Management

Key Benefits for Stakeholders

• This report provides a quantitative analysis of the animal healthcare market segments, current trends, estimations, and dynamics of the animal healthcare market analysis from 2023 to 2033 to identify the prevailing animal healthcare market opportunities.
• The market research is offered along with information related to key drivers, restraints, and opportunities.
• Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
• In-depth analysis of the animal healthcare market segmentation assists to determine the prevailing market opportunities.
• Major countries in each region are mapped according to their revenue contribution to the global animal healthcare market statistics.
• Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.

Apart from the points mentioned above, the report includes the analysis of the regional as well as global animal healthcare market trends, key players, market segments, application areas, and market growth strategies.

1. Research Methodology

1.1. Desk Research
1.2. Real time insights and validation
1.3. Forecast model
1.4. Assumptions and forecast parameters
1.5. Market size estimation

1.5.1. Top-down approach
1.5.2. Bottom-up approach

2. Report Scope

2.1. Market definition
2.2. Key objectives of the study
2.3. Report overview
2.4. Market segmentation
2.5. Overview of the impact of COVID-19 on global Animal Healthcare Market 

3. Executive Summary
4. Market Overview

4.1. Introduction
4.2. Growth impact forces

4.2.1. Drivers
4.2.2. Restraints
4.2.3. Opportunities

4.3. Market value chain analysis

4.3.1. List of raw material suppliers
4.3.2. List of manufacturers 
4.3.3. List of distributors

4.4. Innovation & sustainability matrices

4.4.1. Technology matrix
4.4.2. Regulatory matrix

4.5. Porter’s five forces analysis

4.5.1. Bargaining power of suppliers
4.5.2. Bargaining power of consumers
4.5.3. Threat of substitutes
4.5.4. Threat of new entrants
4.5.5. Competitive rivalry intensity

4.6. PESTLE analysis

4.6.1. Political
4.6.2. Economical
4.6.3. Social
4.6.4. Technological
4.6.5. Legal
4.6.6. Environmental

4.7. Impact of COVID-19 on Animal Healthcare Market 

4.7.1. Pre-covid market scenario
4.7.2. Post-covid market scenario

5. Animal Healthcare Market Analysis, by Product Type 

5.1. Overview
5.2. Pharmaceuticals

5.2.1. Definition, key trends, growth factors, and opportunities
5.2.2. Market size analysis, by region, 2023-2033
5.2.3. Market share analysis, by country, 2023-2033

5.3. Medical Device

5.3.1. Definition, key trends, growth factors, and opportunities
5.3.2. Market size analysis, by region, 2023-2033
5.3.3. Market share analysis, by country, 2023-2033

5.4. Veterinary Services

5.4.1. Definition, key trends, growth factors, and opportunities
5.4.2. Market size analysis, by region, 2023-2033
5.4.3. Market share analysis, by country, 2023-2033

5.5. Others

5.5.1. Definition, key trends, growth factors, and opportunities
5.5.2. Market size analysis, by region, 2023-2033
5.5.3. Market share analysis, by country, 2023-2033

5.6. Research Dive Exclusive Insights

5.6.1. Market attractiveness
5.6.2. Competition heatmap

6. Animal Healthcare Market Analysis, by Animal Type   

6.1. Livestock Animals

6.1.1. Definition, key trends, growth factors, and opportunities
6.1.2. Market size analysis, by region, 2023-2033
6.1.3. Market share analysis, by country, 2023-2033

6.2. Companion Animals

6.2.1. Definition, key trends, growth factors, and opportunities
6.2.2. Market size analysis, by region, 2023-2033
6.2.3. Market share analysis, by country, 2023-2033

6.3. Research Dive Exclusive Insights

6.3.1. Market attractiveness
6.3.2. Competition heatmap

7. Animal Healthcare Market Analysis, by Distribution Channel

7.1. Retail

7.1.1. Definition, key trends, growth factors, and opportunities
7.1.2. Market size analysis, by region, 2023-2033
7.1.3. Market share analysis, by country, 2023-2033

7.2. E-commerce

7.2.1. Definition, key trends, growth factors, and opportunities
7.2.2. Market size analysis, by region, 2023-2033
7.2.3. Market share analysis, by country, 2023-2033

7.3. Hospital/ Clinic Pharmacy

7.3.1. Definition, key trends, growth factors, and opportunities
7.3.2. Market size analysis, by region, 2023-2033
7.3.3. Market share analysis, by country, 2023-2033

7.4. Research Dive Exclusive Insights

7.4.1. Market attractiveness
7.4.2. Competition heatmap

8. Animal Healthcare Market, by Region

8.1. North America

8.1.1. U.S.

8.1.1.1. Market size analysis, by Product Type, 2023-2033
8.1.1.2. Market size analysis, by Animal Type, 2023-2033
8.1.1.3. Market size analysis, by Distribution Channel, 2023-2033

8.1.2. Canada

8.1.2.1. Market size analysis, by Product Type, 2023-2033
8.1.2.2. Market size analysis, by Animal Type, 2023-2033
8.1.2.3. Market size analysis, by Distribution Channel, 2023-2033

8.1.3. Mexico

8.1.3.1. Market size analysis, by Product Type, 2023-2033
8.1.3.2. Market size analysis, by Animal Type, 2023-2033
8.1.3.3. Market size analysis, by Distribution Channel, 2023-2033

8.1.4. Research Dive Exclusive Insights

8.1.4.1. Market attractiveness
8.1.4.2. Competition heatmap

8.2. Europe

8.2.1. Germany 

8.2.1.1. Market size analysis, by Product Type, 2023-2033
8.2.1.2. Market size analysis, by Animal Type, 2023-2033
8.2.1.3. Market size analysis, by Distribution Channel, 2023-2033

8.2.2. UK

8.2.2.1. Market size analysis, by Product Type, 2023-2033
8.2.2.2. Market size analysis, by Animal Type, 2023-2033
8.2.2.3. Market size analysis, by Distribution Channel, 2023-2033

8.2.3. France

8.2.3.1. Market size analysis, by Product Type, 2023-2033
8.2.3.2. Market size analysis, by Animal Type, 2023-2033
8.2.3.3. Market size analysis, by Distribution Channel, 2023-2033

8.2.4. Spain

8.2.4.1. Market size analysis, by Product Type, 2023-2033
8.2.4.2. Market size analysis, by Animal Type, 2023-2033
8.2.4.3. Market size analysis, by Distribution Channel, 2023-2033

8.2.5. Italy

8.2.5.1. Market size analysis, by Product Type, 2023-2033
8.2.5.2. Market size analysis, by Animal Type, 2023-2033
8.2.5.3. Market size analysis, by Distribution Channel, 2023-2033

8.2.6. Rest of Europe

8.2.6.1. Market size analysis, by Product Type, 2023-2033
8.2.6.2. Market size analysis, by Animal Type, 2023-2033
8.2.6.3. Market size analysis, by Distribution Channel, 2023-2033

8.2.7. Research Dive Exclusive Insights

8.2.7.1. Market attractiveness
8.2.7.2. Competition heatmap

8.3. Asia-Pacific

8.3.1. China

8.3.1.1. Market size analysis, by Product Type, 2023-2033
8.3.1.2. Market size analysis, by Animal Type, 2023-2033
8.3.1.3. Market size analysis, by Distribution Channel, 2023-2033

8.3.2. Japan 

8.3.2.1. Market size analysis, by Product Type, 2023-2033
8.3.2.2. Market size analysis, by Animal Type, 2023-2033
8.3.2.3. Market size analysis, by Distribution Channel, 2023-2033

8.3.3. India

8.3.3.1. Market size analysis, by Product Type, 2023-2033
8.3.3.2. Market size analysis, by Animal Type, 2023-2033
8.3.3.3. Market size analysis, by Distribution Channel, 2023-2033

8.3.4. Australia

8.3.4.1. Market size analysis, by Product Type, 2023-2033
8.3.4.2. Market size analysis, by Animal Type, 2023-2033
8.3.4.3. Market size analysis, by Distribution Channel, 2023-2033

8.3.5. South Korea

8.3.5.1. Market size analysis, by Product Type, 2023-2033
8.3.5.2. Market size analysis, by Animal Type, 2023-2033
8.3.5.3. Market size analysis, by Distribution Channel, 2023-2033

8.3.6. Rest of Asia-Pacific

8.3.6.1. Market size analysis, by Product Type, 2023-2033
8.3.6.2. Market size analysis, by Animal Type, 2023-2033
8.3.6.3. Market size analysis, by Distribution Channel, 2023-2033

8.3.7. Research Dive Exclusive Insights

8.3.7.1. Market attractiveness
8.3.7.2. Competition heatmap

8.4. LAMEA

8.4.1. Brazil

8.4.1.1. Market size analysis, by Product Type, 2023-2033
8.4.1.2. Market size analysis, by Animal Type, 2023-2033
8.4.1.3. Market size analysis, by Distribution Channel, 2023-2033

8.4.2. Saudi Arabia

8.4.2.1. Market size analysis, by Product Type, 2023-2033
8.4.2.2. Market size analysis, by Animal Type, 2023-2033
8.4.2.3. Market size analysis, by Distribution Channel, 2023-2033

8.4.3. UAE

8.4.3.1. Market size analysis, by Product Type, 2023-2033
8.4.3.2. Market size analysis, by Animal Type, 2023-2033
8.4.3.3. Market size analysis, by Distribution Channel, 2023-2033

8.4.4. South Africa

8.4.4.1. Market size analysis, by Product Type, 2023-2033
8.4.4.2. Market size analysis, by Animal Type, 2023-2033
8.4.4.3. Market size analysis, by Distribution Channel, 2023-2033

8.4.5. Rest of LAMEA

8.4.5.1. Market size analysis, by Product Type, 2023-2033
8.4.5.2. Market size analysis, by Animal Type, 2023-2033
8.4.5.3. Market size analysis, by Distribution Channel, 2023-2033

8.4.6. Research Dive Exclusive Insights

8.4.6.1. Market attractiveness
8.4.6.2. Competition heatmap

9. Competitive Landscape

9.1. Top winning strategies, 2022

9.1.1. By strategy
9.1.2. By year

9.2. Strategic overview
9.3. Market share analysis, 2023

10. Company Profiles

10.1. Exxon Mobil Corporation.

10.1.1. Overview
10.1.2. Business segments
10.1.3. Product portfolio
10.1.4. Financial performance
10.1.5. Recent developments
10.1.6. SWOT analysis

10.2. FUCHS

10.2.1. Overview
10.2.2. Business segments
10.2.3. Product portfolio
10.2.4. Financial performance
10.2.5. Recent developments
10.2.6. SWOT analysis

10.3. Shell

10.3.1. Overview
10.3.2. Business segments
10.3.3. Product portfolio
10.3.4. Financial performance
10.3.5. Recent developments
10.3.6. SWOT analysis

10.4. PETRONAS Lubricants International

10.4.1. Overview
10.4.2. Business segments
10.4.3. Product portfolio
10.4.4. Financial performance
10.4.5. Recent developments
10.4.6. SWOT analysis

10.5. Chevron Corporation

10.5.1. Overview
10.5.2. Business segments
10.5.3. Product portfolio
10.5.4. Financial performance
10.5.5. Recent developments
10.5.6. SWOT analysis

10.6. Total Energies SE

10.6.1. Overview
10.6.2. Business segments
10.6.3. Product portfolio
10.6.4. Financial performance
10.6.5. Recent developments
10.6.6. SWOT analysis

10.7. Sinopec Corp

10.7.1. Overview
10.7.2. Business segments
10.7.3. Product portfolio
10.7.4. Financial performance
10.7.5. Recent developments
10.7.6. SWOT analysis

10.8. Lukoil

10.8.1. Overview
10.8.2. Business segments
10.8.3. Product portfolio
10.8.4. Financial performance
10.8.5. Recent developments
10.8.6. SWOT analysis

10.9. Morris Lubricants

10.9.1. Overview
10.9.2. Business segments
10.9.3. Product portfolio
10.9.4. Financial performance
10.9.5. Recent developments
10.9.6. SWOT analysis

 10.10. BP p.l.c.

10.10.1. Overview
10.10.2. Business segments
10.10.3. Product portfolio
10.10.4. Financial performance
10.10.5. Recent developments
10.10.6. SWOT analysis

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