Animal Health Market Outlook:
Animal Health Market size was valued at USD 63.56 billion in 2024 and is expected to reach USD 163.37 billion by 2034, expanding at around 9.9% CAGR during the forecast period i.e., between 2025-2034. In the year 2025, the industry size of animal health is assessed at USD 68.91 billion.
Key Animal Health Market Insights Summary:
The North America market is projected to hold the majority share in the animal health market by the end of 2034.
The pharmaceuticals segment is anticipated to capture the largest share of the animal health market by 2034.
As per statistics from the World Health Organization, global per capita healthcare expenditure reached USD 1,064.741 in 2017.
Key Growth Trends:
- Upsurge in Zoonotic Diseases
- Escalating Number of Livestock
Key Players:
- Heska Corporation, Merck & Co., Inc., Ceva Santé Animale, Virbac S.A.,Midmark Corporation, Biogenesis Bago SA, Boehringer Ingelheim International GmbH, Phibro Animal Health Corporation, VETOQUINOL SA.
Market Size and Growth Projections:
- 2024 Market Size: USD 63.56 billion
- 2025 Market Size: USD 68.91 billion
- Projected Market Size: USD 163.37 billion by 2034
- Growth Forecasts: 9.9% CAGR (2025-2034)
- Largest Region: North America
- Fastest Growing Region: Asia Pacific
The market growth is attributed to rising pet ownership and growing demand for animal health care products. For instance, pet ownership is expected to account for approximately 17.5 million households in 2022.
Animal health includes preserving and protecting animals from various diseases as well as providing required veterinarian treatments. It also entails regular animal monitoring in order to prevent spread of disease through the use of appropriate medications and diagnostic products. It ensures food safety and protects the public from animal-borne diseases.
The increasing count of government initiatives to support and spread more awareness about animal health is boosting the market growth. For instance, for monitoring good health of animals, the government of India launched National Animal Disease Control Program (NADCP) in 2019. This program has launched to monitor Foot and Mouth Disease and Brucellosis by vaccinating 100% of the cattle, buffalo, sheep, goat, and pig populations for FMD and 100% of the female cattle calves aged 4-8 months.
Animal Health Market Growth Drivers and Challenges:
Growth Drivers
- Upsurge in Zoonotic Diseases - Zoonotic diseases, or zoonoses, are spurred by germs that transfer from animals to humans. These diseases are carried out by pathogenic micro-organisms such as bacteria, fungi, parasites, and viruses. These organisms cause a wide range of ailments in humans and animals, from minor ailments to severe illness and even death. Thus, zoonotic diseases are leading the growth of animal health market. According to the World Economic Forum, zoonotic diseases are expected to cause 60% of acknowledged communicable diseases and up to 75% of recently found or emerging infectious diseases.
- Escalating Number of Livestock - For instance, in Europe, there were around 143 million pigs, 74 million cattle, 62 million sheep, and 10 million goats as of December 2021.
- Growing Prevalence of Diabetes in Pets – It is observed in a research, the prevalence of diabetes in pets is on the rise, growing by almost 81% in dogs and 17% in cats over a ten-year span.
- Growing Threat of Canine Parvovirus-2 (CPV-2) – For instance, in adult and young dogs, CPV-2 induces 100% morbidity and a 12% and 90% risk of mortality, accordingly.
- Rise in Per Capita Income - As per the World Bank statistics, global annual per capita income increased by 4.8% in 2021 contrasted to 2019, while it only increased by 1.5% in that year.
Challenges
- Stringent Government Policies on Approval of Animal Drugs
- Price Hike in Animal Health Products
- Escalating Cost of Animal Testing
Animal Health Market Size and Forecast:
| Report Attribute | Details |
|---|---|
|
Base Year |
2024 |
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Forecast Year |
2025-2034 |
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CAGR |
9.9% |
|
Base Year Market Size (2024) |
USD 63.56 billion |
|
Forecast Year Market Size (2034) |
USD 163.37 billion |
|
Regional Scope |
|
Animal Health Market Segmentation:
Product Segment Analysis
The pharmaceuticals segment is estimated to garner largest animal health market share by 2034, owing to noticeable count of companion animals ownerships, growing number of veterinary practitioners, and surge in various zoonotic diseases across the globe. For instance, it estimated that, foot and mouth disease (FMD) affects nearly 76% of the world's cattle, primarily in Africa, the Middle East, and Asia, as well as a small portion of South America.
Major Macro-Economic Indicators Impacting the Market Growth
According to the statistics by the World Health Organization, the global per capita healthcare expenditure amounted to USD 1,064.741 in the year 2017. The worldwide healthcare expenditure per person grew from USD 864.313 in 2008 to USD 1,110.841 in 2018, where the U.S. is the top country that amounted to healthcare expenditure of USD 10, 623.85 per capita in 2018. As of 2018, the domestic general government healthcare spending in the U.S. was USD 5355.79, which grew from USD 3515.82 in 2008. These are some of the factors responsible for market growth over the past few years. Moreover, as per the projections by the Centers for Medicare & Medicaid Services (CMS), the estimated average annual percent change related to National Health Expenditures (NHE) in the U.S. was 5.2% in 2020 as compared to 2019 (4.5%). Furthermore, the National Health Expenditures are projected to reach USD 6,192.5 Billion in 2028, where the per capita expenditure is estimated to touch USD 17,611 in the same year. These are notable indicators that are anticipated to create lucrative business opportunities in upcoming years.
Our in-depth analysis of the global market includes the following segments:
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By Product |
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By Animal Type |
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By End-User |
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By Distribution Channel |
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Vishnu Nair
Head - Global Business DevelopmentCustomize this report to your requirements — connect with our consultant for personalized insights and options.
Animal Health Market Market Insights:
The market in North America is expected to hold majority share by the end of 2034, impelled by increasing technological advancement, rise in research and development of more advanced therapeutics, growing number of pet adoption, and surge in zoonotic diseases in the region. It has been noted that each year in the United States, approximately 3.4 million animals get adopted.
Key Animal Health Market Players:
- Zoetis Inc.
- Company Overview
- Business Strategy
- Key Product Offerings
- Financial Performance
- Key Performance Indicators
- Risk Analysis
- Recent Development
- Regional Presence
- SWOT Analysis
- Heska Corporation
- Merck & Co., Inc.
- Ceva Santé Animale
- Virbac S.A.
- Midmark Corporation
- Biogenesis Bago SA
- Boehringer Ingelheim International GmbH
- Phibro Animal Health Corporation
- VETOQUINOL SA
Recent Developments
- Boehringer Ingelheim International GmbH introduced Fencovis, a new vaccine for preventing calf diarrhea caused by E. coli F5 and bovine rotavirus. The vaccine provides passive immunity through the colostrum of cows.
- Zoetis Inc. has acquired Basepaws, a privately held pet care genetics company that delivers pet owners with genetic tests, analytics, and early health risk assessments of pets.
- Report ID: 1225
- Published Date: Jun 13, 2025
- Report Format: PDF, PPT
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