Animal Healthcare Market By Product Type (Pharmaceuticals, Medical Device, Veterinary Services) , By Animal Type (Livestock Animals, Companion Animals) By Distribution Channel (Retail, E-commerce, Hospital/ Clinic Pharmacy) : Global Opportunity Analysis and Industry Forecast, 2024-2033
Animal Healthcare Market Expected to Garner $66.0 Billion by 2033, Growing at a CAGR of 5.3%
The global animal healthcare market is expected to grow primarily due to the increasing pet ownership and expansion of livestock production. The North America region is predicted to witness profitable growth by 2033.
As per the report published by Research Dive, the global animal healthcare market was valued at $41.0 billion in 2023 and is expected to register a revenue of $66.0 billion by 2033 at a CAGR of 5.3% during the forecast period 2024-2033.
Dynamics of the MarketThe increasing number of households with pets, rising trend of treating pets as family members, increasing livestock production, and the growing focus on preventive healthcare are the factors expected to make the animal healthcare market a highly profitable one in the forecast period.
However, according to market analysts, the high costs of advanced veterinary treatments & medications and competition from generic products might restrain the growth of the market.
Technological innovations, such as AI-based diagnostics & wearable health devices and the rising government initiatives & supportive regulations are predicted to offer numerous growth opportunities for the market in the forecast period.
Key Players of the MarketThe major players of the animal healthcare market include Zoetis, Merck & Co., Inc., Ceva Santé Animale, Vetoquinol S.A., Elanco, Boehringer Ingelheim Gmbh, Virbac, Dechra Pharmaceuticals Plc, Mars Inc., and Idexx Laboratories, Inc.
What the Report CoversIn addition to the details highlighted in this description, the comprehensive final report delves into essential market aspects. These encompass a market overview, SWOT analysis, market dynamics, Porter’s five forces analysis, segmentation (key trends, regional analysis, and forecast analysis), and company profiles (including company overview, product portfolio, operating segments, strategic initiatives, and financial performance).
Key Market SegmentsBy Product TypePharmaceuticals
Medical Device
Veterinary Services
By Animal TypeLivestock Animals
Companion Animals
By Distribution ChannelRetail
E-commerce
Hospital/ Clinic Pharmacy
By RegionNorth America
U.S.
Canada
Mexico
Europe
France
Germany
Italy
Spain
UK
Rest of Europe
Asia-Pacific
China
Japan
India
South Korea
Australia
Rest of Asia-Pacific
LAMEA
Brazil
South Africa
Saudi Arabia
UAE
Rest of LAMEA
Key Market PlayersZoetis
Ceva Sante Animale
Merck & Co., Inc.
Vetoquinol S.A.
Boehringer Ingelheim Gmbh
Elanco
Virbac
Mars Inc.
Dechra Pharmaceuticals Plc
Dechra Pharmaceuticals plc
IDEXX Laboratories, Inc.