Latest News- Animal Healthcare Market: Pharmaceutical is expected to lead the Product segment during 2025-2029

The Animal Healthcare Market is being driven by Increase in animal ownership

The Animal Healthcare Market is expected to grow at a CAGR of 4.6% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 11144.7 million. In the animal healthcare sector, preventive measures are increasingly prioritized on a global scale. Preventive healthcare encompasses regular veterinary examinations to assess vaccination schedules, nutrition plans, and dental care, among other risk factors. Boehringer Ingelheim, a leading pharmaceutical company, recently invested in Cowtribe, a Ghanaian last-mile veterinary delivery business, as part of their Social Engagement (BI SE) initiative. This program aims to bridge the financing gap for social enterprises in underserved communities, while also utilizing technology to streamline the delivery of veterinary vaccines and animal health products to rural areas. Similarly, pet owners are becoming more proactive in adhering to recommended vaccination schedules and healthcare regimens for their pets, as awareness about various animal diseases grows. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• Product
  • Pharmaceutical
  • Feed additive
  • Biologicals
• Animal Type
  • Livestock
  • Companion animals
• Distribution Channel
  • VHC
  • Pharmacies and drug stores
  • E-commerce
  • Direct sales
• Geography
  • North America
    • Canada
    • US
  • Europe
    • Germany
    • UK
    • France
    • Italy
  • Asia
    • China
    • India
    • Japan
  • Rest of World (ROW)

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Increase in animal ownership
• Rise in incidences of zoonotic diseases
• Increasing role of organic tracing elements for improving livestock production

However, the market also witnesses some limitations, which are as follows:

• Contamination of animal source foods
• Disadvantage of antibiotics
• Increase in animal healthcare product recalls in the market

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Market Scope in Animal Healthcare Market Research Report

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Research Analysis Overview

The animal healthcare market encompasses various sectors including animal health solutions, veterinary services, pet care products, and animal health technologies. Key areas include the veterinary diagnostics market, pet insurance market, livestock health market, and equine health market. Animal health trends focus on disease prevention, veterinary practice management, digital veterinary tools, and veterinary data management. Animal welfare organizations, adoption, obesity, and veterinary education programs are also significant. Challenges include rising veterinary care costs, animal disease prevention, and ethical debates around animal rights and welfare standards. The veterinary industry's future outlook includes innovation, investment, and growth in veterinary technology trends and pet health awareness.

Market Research Overview

The animal healthcare market encompasses various sectors, including veterinary medicine, pet healthcare, animal pharmaceuticals, veterinary diagnostics, animal vaccines, and pet insurance. According to Technavio, the global pharmaceuticals market, which includes these segments, is projected to expand significantly due to several key factors. One significant driver is the increasing aging population, with predictions that by 2050, approximately one-quarter of the US population and Europe's population will be over 60 years old. This demographic trend is expected to boost the demand for healthcare products and services, including animal healthcare, as the elderly population tends to own pets and require preventative care for their animals. Additionally, advancements in veterinary diagnostics and pharmaceuticals, as well as the growing popularity of pet insurance, are anticipated to contribute to the market's growth.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
Media & Marketing Executive
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Website: www.technavio.com/