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The North America Animal Health Market size is estimated to grow by USD 4.08 billion at a CAGR of 4.36% between 2023 and 2028. The animal health market is experiencing significant growth due to increasing pet ownership and the rising prevalence of diseases in animals. This trend is driven by the human-animal bond, as more individuals view their pets as family members deserving of optimal health and wellness. Simultaneously, the incidence of zoonotic diseases, which are transmissible from animals to humans, has been on the rise. This not only highlights the importance of animal health for the welfare of animals but also for public health. As a result, the animal health industry is responding with innovative solutions, including advanced diagnostics, preventative care, therapeutic treatments and companion animal specialty drugs, to address these challenges and ensure the health and safety of both animals and humans.
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The livestock segment is estimated to witness significant growth during the forecast period. The livestock segment plays a vital role in economic and socio-cultural roles, mainly in farming households in rural areas, as it offers income and food supply and serves as an asset, besides offering employment and a livelihood. Additionally, livestock rearing ensures that soil fertility is retained as well as sustainable agricultural production. Furthermore, livestock production is closely associated with crop production.
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The livestock segment was the largest segment and was valued at USD 8.11 billion in 2018. There is an extensive use of livestock as well as its sub-product, manure as it helps to enhance crop production. The main advantage of using manure is that it helps to enhance the soil structure and fertility coupled with water retention, whereas livestock animals are also a source of draught animal power. Furthermore, it is widely used for the transportation of agricultural inputs and outputs as well as people. In addition, there is an increase in meat and egg consumption in North America as there is an increasing health consciousness among people about the intake of proteins in their daily diet. The consumption of meat products has become a crucial factor as nutrition fuels the well-being of people. Hence, such factors are expected to fuel the growth of this segment which in turn will drive the market growth during the forecast period.
The pharmaceutical segment of the market comprises several drugs, such as ectoparasiticides, endoparasiticides, and anti-inflammatories, which come in different forms, such as sprays, creams/ointments, tablets, and injectables. There is an increasing adoption of these products as it help in the treatment of various veterinary diseases, such as tick-borne diseases, rabies, and fever, which is significantly contributing to the growth of this segment. Some of the main pharmaceutical products available in the animal health market in North America include Ectoparasiticides and Endoparasiticides. The increase in threat from zoonoses, especially food-borne zoonoses, such as salmonellosis, is expected to fuel the growth of this segment, which in turn will drive the North America animal health market growth during the forecast period.
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Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market. The report also includes detailed analyses of the competitive landscape of the market and information about 15 market companies, including:
American Animal Health Inc: The company offers animal health services that provide a single dose Mycoplasma bovis vaccine for cattle.
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The market experiences a surge driven by factors like increasing pet ownership rates and rising income levels. As veterinary healthcare evolves, so does the demand for advanced veterinary products and specific veterinary products to address disease prevention and mitigate the risks of zoonotic diseases. Diagnostic products aid in early detection, while vaccines play a crucial role in disease management. With the advent of digital technologies, veterinary hospitals and clinics, along with diagnostic centers, are enhancing their services. Furthermore, the market emphasizes sustainable development by promoting medicated animal feeds to combat antimicrobial resistance and reduce environmental impact while boosting agricultural productivity.
An increase in animal, especially pet ownership is a key factor driving market growth. There has been a significant increase in animal ownership in North America over the last few years. One of the most popular type of pets among people in North America are dogs with almost two in five households owning a dog. Factors such as the rise in disposable income are fuelling animal ownership as it offers companionship and entertainment.
Furthermore, a majority of the population has started testing these pets as their own family by providing them with better health services for their animals. Additionally, pet owners in North America ensure that their pets have quality food with proper manufacturing standards. Hence, such factors are positively impacting the North America animal health market size.
A key factor shaping the market share is the rising awareness regarding animals' intestinal health. One of the main factors that is significantly contributing to the market is the growing awareness among consumers regarding the health benefits of consuming animal protein, including enhanced bone health, immunity, and reduction in protein deficiencies. Several companies offer dietary supplements to farmers who raise livestock and poultry with a strong focus on the gut health of their animals, which in turn enhances the health of the herd.
Moreover, many veterinarians and nutritionists are advising as well as mentoring farmers on minimizing antibiotic use in farm animals by developing a customized action plan and offering support. As a result, there is an increased focus on animal intestinal health, which play a crucial role in maintaining digestive health and overall well-being. This rising awareness among farmers and livestock owners about the benefits of animal intestinal health supplements is positively impacting the North America - animal health market. Therefore, it is expected that the emphasis on reducing antibiotic use and promoting intestinal health supplements will drive market growth during the forecast period, as stakeholders prioritize sustainable practices and enhanced animal welfare across the region.
The disadvantages of antibiotics are one of the key challenges hindering the market growth. There is an increasing prevalence of bacterial diseases among animals which can be cured using antibiotics. However, while using antibiotics on animals as a preventive measure, they are healthier which leads to gaining weight and growing excessively.
Moreover, as a result, several farmers and ranchers constantly feed their animals with low doses of antibiotics leading to the formation of antibiotic-resistant super-bacteria. Therefore, the use of certain antibiotics for animals is banned due to the creation of these antibiotic-resistant diseases. Hence, such factors are negatively impacting the market. Therefore, it is expected to hinder the market growth during the forecast period.
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The market report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Market Customer Landscape
The market report provides comprehensive data (region wise segment analysis), with forecasts and estimates in "USD Billion" for the period 2024 to 2028, as well as historical data from 2018 to 2022 for the following segments.
Animal Health Diagnostics Market Analysis North America, Europe, Asia, Rest of World (ROW) - US, Germany, UK, France, China - Size and Forecast
Animal Healthcare Market by Product, Animal Type, and Geography - Forecast and Analysis
Animal Feed Vitamin Market Analysis APAC, Europe, North America, South America, Middle East and Africa - US, China, Japan, India, Germany - Size and Forecast
The market is witnessing rapid growth due to various factors such as inflating pet ownership rates and elevating income levels. With expanding awareness of preventive healthcare, there's an increased demand for advanced veterinary care and specialized therapies. Companies like Bayer, Biogenesis Bago, and Neogen are at the forefront of biotechnology advancements, offering precision medicines and innovative technologies like ELISA and PCR for disease detection and treatment optimization. This market caters not only to pet care but also to livestock diseases, aiming to improve animal welfare and productivity in food-producing animals. With the rise of pet humanization, young adults seek personalized treatments and specialty items like activity tracking collars. This holistic approach, emphasizing One Health, ensures a balanced and prosperous animal care ecosystem.
Industry Scope |
|
Report Coverage |
Details |
Page number |
144 |
Base year |
2023 |
Historic period |
2018 - 2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 4.36% |
Market growth 2024-2028 |
USD 4.08 billion |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
4.11 |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
American Animal Health Inc., Alltech Inc., Bimeda Holdings Ltd., Boehringer Ingelheim International GmbH, Ceva Sante Animale, Eco Animal Health Group Plc, Elanco Animal Health Inc., Huvepharma EOOD, Mars Inc., Merck and Co. Inc., PATTERSON COMPANIES, INC., Phibro Animal Health Corp., Thermo Fisher Scientific Inc., Vetio, Virbac SA, and Zoetis Inc. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, Market growth and Forecasting, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the market forecast period |
Customization purview |
If market forecasting our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Animal Type
7 Market Segmentation by Product
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Opportunity/Restraints
11 Competitive Landscape
12 Competitive Analysis
13 Appendix
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