India Animal Health Market Size, Share & Trends Analysis Report By Product, By Animal (Production Animal, Companion Animal), By Distribution Channel (Retail, E-Commerce, Hospital/ Clinic Pharmacy), By End Use, And Segment Forecasts, 2024 - 2030

India Animal Health Market Size, Share & Trends Analysis Report By Product, By Animal (Production Animal, Companion Animal), By Distribution Channel (Retail, E-Commerce, Hospital/ Clinic Pharmacy), By End Use, And Segment Forecasts, 2024 - 2030

India Animal Health Market Growth & Trends

The India animal health market size is expected to reach USD 4.3 billion by 2030, registering a CAGR of 12.35% from 2024 to 2030, according to a new report by Grand View Research, Inc. The crucial drivers of this market is the growing startup culture and increasing government support for startup sector in the country’s animal health industry.

In the recent years, there has been an uprising of startups in the country across multiple sectors such as human healthcare, e-commerce, agriculture, animal health, and IT. The animal health industry is also not a stranger to this rising number of startups which are aimed at improving diagnostic as well as treatment practices for the various animal species such as dogs, cats, cattle, poultry, swine, etc. These companies are proving to be disruptive in innovating novel ways to tackle hurdles in the animal health industry. For instance, in January 2024, a Jaipur-based startup, Verdant Impact was launched. The company provides telemedicine access to livestock farmers, helping them to diagnose and treat their animals remotely. The platform connects farmers with veterinarians and animal health experts, enabling them to receive timely and accurate advice. This reduces the need for physical visits, saving time and resources for farmers. Verdant Impact aims to improve livestock health and productivity, while also increasing farmers' incomes. The startup has also partnered with various organizations to expand its reach and impact.

Furthermore, in February 2024, a new startup, known as The Pet Journey, which manufactures raw dog food. The company has large product portfolio of raw dog food products which a manufactured by human-grade ingredients and with an aim to provide customized dog food for every species of dogs. Moreover, a February 2024 article by Indian Startup Times, listed top 20 startups from various sectors that are crucial in transforming the animal health industry in the country. Some of the latest startup companies include Pawfect Pets - offers pet grooming and boarding services; PetSutra - a pet food and accessories e-commerce platform; and Vetic - veterinary telemedicine platform. Many more such startups are emerging rapidly in the country, acting as crucial driving factor for the industry.

By utilizing innovative methods and innovative techniques, these businesses are improving the accessibility and expenditures of animal healthcare services while also enhancing diagnostic and treatment procedures. It is anticipated that this will improve the productivity and health of cattle, raising farmer earnings and stimulating the economy as a whole. The industry's growth and development is likely to be further accelerated as it continues to innovate and attracts in additional skills, investments, and collaborations.

Additionally, this startup culture and ultimately the market is also boosted by various boosting activities by the government as well as other industry participants. For instance, The Centre for Cellular and Molecular platform (CCAMP) and Biotechnology Industry Research Assistance Council (BIRAC) conducts an annual competition to boost innovation in the country, known as National Bio-Entrepreneurship Competition. More than 3000 ideas are submitted every year and a handful are selected based on their merit to address various challenges in the sectors such as biotechnology, animal health, IT, agriculture, aquaculture, life sciences, among others. The winners of the competition receive funding, mentorship, and other resources which will assist them to scale and commercialize their projects.

Furthermore, in June 2024, the Guru Angad Dev Veterinary and Animal Sciences University (GADVASU) launched a startup challenge, Start-up Punjab, with an aim to encourage entrepreneurship in the animal health sector. The challenge is open to entrepreneurs from across the country, and participants will have the opportunity to showcase their innovative ideas and solutions. The winners will receive funding, mentorship, and incubation support to help them develop their projects. Such initiatives foster a supportive ecosystem for startups and drive the startup culture in India, leading to innovative solutions, job creation, and economic growth, ultimately transforming the animal health industry in the country.

India Animal Health Market Report Highlights

• Based on product, the pharmaceuticals segment accounted for the largest revenue share of 42.96% in 2023. The pharmaceuticals segment is further classified into parasiticide, anti-infective, anti-inflammatory, analgesics, and others. The segment’s dominance which can be attributed to increasing prevalence of food-borne diseases, brucellosis, and zoonotic diseases that are potentially hazardous to animals, thus, leading to clinical urgency for use of potent pharmaceuticals and targeted medicines.
• Based on animal, the production animal segment dominated the market with a revenue share of 83.04% in 2023. The significant market share represented by the segment may be attributed to a global increase in government’s attention on increasing production of animal-derived products, food safety and sustainability.
• Based on distribution channel, the hospital/clinic pharmacy segment dominated the market with a revenue share of 57.46% in 2023. The substantial share can be attributed to high accessibility and affordability. Furthermore, hospitals provide advanced treatment products, which is expected to contribute to the overall growth of the hospital segment. The rise in the adoption of companion pets worldwide is driving the segment growth. Besides, high procedural volume as a consequence of frequent readmission of pets for treatment is one of the factors responsible for growth.
• Based on end use, the veterinary hospitals & clinics segment dominated the with a revenue share of 72.12% in 2023. Presence of in-house laboratories in the veterinary hospitals and clinics is enabling faster diagnosis, helping patients avail treatment at the earliest. In addition, results of the clinical tests are easily available, which reduces the delay. Furthermore, the number of visits and time consumed in taking pet patients from one place to another is also saved. Thus, this segment is anticipated to exhibit considerable growth over the forecast period.

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