Animal Health Market Set to Reach USD 80 Billion by 2030, Driven by Rising Demand for Protein Food and Growing Awareness of Animal Health

Animal Health Market Set to Reach USD 80 Billion by 2030, Driven by Rising Demand for Protein Food and Growing Awareness of Animal Health

According to Next Move Strategy Consulting, the global Animal Health Market, is projected to reach USD 80 billion by 2030, growing at a robust CAGR of 7% by 2030. This growth is primarily driven by the increasing demand for protein-rich food, heightened awareness of food-borne diseases, and expanding efforts to control pathogen contamination risks in the animal healthcare sector.

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Animal health plays a crucial role in global food security, as healthy animals are essential for sustainable food production, including poultry farming. Additionally, tracking diseases in both domestic and wild animals is pivotal to maintaining healthy animal populations, preventing disease outbreaks, and safeguarding human health. Despite these advancements, various factors such as globalization, bioterrorism threats, and large-scale agricultural production are negatively affecting animal health, presenting challenges to the industry.

Market Dynamics and Trends

Several key factors are expected to propel the growth of the global animal health market. The growing demand for animal-derived protein foods, particularly in emerging markets, along with a rising awareness of food-borne diseases, are encouraging more companies to adopt measures for pathogen control in the food production chain. Furthermore, government initiatives promoting animal healthcare infrastructure, along with financial incentives for manufacturers to innovate and launch new products, are expected to support the expansion of the market.

However, high storage costs for animal vaccines and a global shift towards plant-based diets could potentially restrain market growth. Despite these challenges, the increasing support for pet care and rising animal welfare organizations are expected to present significant opportunities for growth in the coming years.

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Market Segmentation and Scope

The global animal health market is analyzed across various segments, including product types, animal categories, distribution channels, end-users, and geographical regions.

  • Product Segmentation: Vaccines (live attenuated, DNA, recombinant, inactivated), pharmaceuticals (vitamins, parasiticides, antimicrobials, anti-inflammatories), medical feed additives, and diagnostic products (instruments, consumables).
  • Animal Type: Livestock and companion animals.
  • Distribution Channel: Pharmacies, e-commerce, and distributors.
  • End-User: Hospitals and clinics, reference laboratories, point-of-care testing, and others.

Geographical Insights

North America holds the dominant share of the animal health market, driven by the increasing number of pet owners and high disposable incomes, fostering demand for advanced animal healthcare products and services. Additionally, technological advancements and significant R&D activities in the veterinary pharmaceutical sector are expected to further boost the market in the region.

The Asia-Pacific region is also witnessing steady growth due to a rising livestock population and increased demand for animal-derived food products. Key players like Ceva Animal Health, Elanco, and Vetina Healthcare LLP are contributing to the market’s expansion, particularly with innovations such as India's first pet medical cover for dogs.

Competitive Landscape

Leading companies in the global animal health market include Zoetis Inc., Boehringer Ingelheim International GmbH, Merck & Co., Inc., Elanco Animal Health Incorporated, and Nutreco N.V. These market players are adopting strategies such as mergers, acquisitions, and expanding their businesses globally to maintain their market dominance. For example, Elanco’s acquisition of Kindred Biosciences in August 2021 is a strategic move to enhance its innovation and portfolio. Additionally, Hester Biosciences launched a range of herbal veterinary products to further enhance the market.

Key Benefits

  • Comprehensive quantitative analysis of the current market and forecasts from 2024 to 2030.
  • Insight into market trends, growth opportunities, and investment pockets.
  • Detailed examination of the competitive landscape and market shares of key players.
  • In-depth analysis of market drivers, restraints, and opportunities, and their impact on the industry.
  • Strategic analysis of market segments, including product types, animal types, and distribution channels.

Conclusion

The animal health market is poised for significant growth in the coming years, driven by a combination of factors such as increasing demand for animal-derived food, greater awareness of disease control, and growing government support for animal healthcare. With advances in technology and the rise of animal welfare organizations, the market is likely to experience continuous innovation and expansion. As key players continue to develop and introduce new products, the global animal health sector is set to thrive, ensuring better health for animals and, by extension, a healthier world for humans.

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Next Move Strategy Consulting is a premier market research and management consulting firm that has been committed to provide strategically analysed well documented latest research reports to its clients. The research industry is flooded with many firms to choose from, what makes Next Move different from the rest is its top-quality research and the obsession of turning data into knowledge by dissecting every bit of it and providing fact-based research recommendation that is supported by information collected from over 500 million websites, paid databases, industry journals and one on one consultations with industry experts across a diverse range of industry sectors. The high-quality customized research reports with actionable insights and excellent end-to-end customer service help our clients to take critical business decisions that enables them to move beyond time and have competitive edge in the industry.

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