The animal healthcare market share is forecast to reach USD 9,492.82 million, after growing at a CAGR of 4.3% during 2023-2027. The increase in animal ownership is analyzed to boost the animal healthcare market growth. Moreover, rising awareness about disease prevention and pet insurance is the major trend enhancing the overall market demand for animal healthcare during the forecast period.
Get a snapshot of the animal healthcare market analysis: Unlock the Sample Report The report includes historic market data from 2017 to 2021. In 2017, the market was valued at USD 33623.68 million.
Browse Technavio's 166-page report and in-depth TOC on "Animal Healthcare Market by Product (pharmaceutical, feed additive, and biologicals), animal type (livestock and companion animals), and geography (North America, Europe, Asia, and Rest of World (ROW)).
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Pharmaceutical: The market share growth of the pharmaceutical segment will be significant during the forecast period. The increase in threat from zoonoses will increase the demand for pharmaceutical products in the coming years.
North America: 40% of market growth will develop from North America during the forecast period. The animal healthcare market is growing in North America due to the abundant pet humanization because of increasing disposable incomes.
Rest of World (ROW)
The animal healthcare market size will witness a YOY Growth Rate of 4.1% in 2023.
The contamination of animal-source foods will be a major challenge for the animal healthcare market during the forecast period.
Major key animal healthcare market players include: APA United Nano Technology Co. Ltd., Avante Health Solutions, Bimeda Inc., Biogenesis Bago SA, Boehringer Ingelheim International GmbH, Cargill Inc., Ceva Sante Animale, Chanelle Pharma Group, Covetrus Inc., Dechra Pharmaceuticals Plc, Elanco Animal Health Inc., Heska Corp., Hester Biosciences Ltd., Merck KGaA, Midmark Corp., Norbrook Laboratories Ltd., Phibro Animal Health Corp., SeQuent, Virbac Group, and Zoetis Inc.
The report illustrates the lifecycle of the market, focusing on the adoption rates of the major regions such as North America, Europe, Asia, and Rest of World (ROW).
Download the PDF sample report for highlights on the market size, growth momentum, regional growth opportunities, vendor analysis, and other factors influencing the market growth.
Precise market size estimation during the forecast period 2023-2027.
CAGR of the animal healthcare market forecast during 2023-2027.
Market-level data on units, average selling prices, and values of the animal healthcare market share.
Prediction of the upcoming trends, drivers, and factors that challenge the growth of the animal healthcare market.
Animal healthcare industry growth across North America, Europe, Asia, and Rest of World (ROW).