The global market for animal health products is expected to grow at a significant CAGR of 4.0% (2022-2028). Animals require proper attention from their owners daily in order to maintain excellent health. Because the production of healthy livestock guarantees a stable food supply and maintains consumer price stability, frequent animal health monitoring and the prevention of animal disease outbreaks have become essential for every country. The animal health industry is steadily gaining pace around the world since effective management and prevention are required to minimise the spread of zoonotic illnesses among animals and humans. Furthermore, due to rising disposable incomes, increased awareness through print and electronic media, and the burgeoning trend of pet humanization, pet and livestock owners are prepared to spend on animal healthcare products and services.

Additionally, one out of every five farm animals dies from disease each year, according to the World Organization for Animal Health (OIE). Furthermore, six international incidents of animal disease resulted in an economic loss of $80 billion over the last 12 years. Each year, farmers lose up to $21 billion due to foot and mouth disease in animals. Moreover, cattle disease can increase GHG emissions by as much as 24% per unit of milk and 113% per beef carcass. As a result, the rising prevalence of animal disease is driving up demand for animal health products to help protect, diagnose, and treat animals against disease, resulting in market growth.

Impact of COVID-19 Pandemic on Global Animal Health Products Market

The COVID-19 pandemic had impacted the global animal health products industry significantly.  Various government imposed lockdown to control the spread of the virus. Despite the disruption caused by the COVID-19 pandemic, the animal health industry is expected to grow during the forecast period. When compared to other markets, the economic downturn in the animal health market is relatively mild. 

Segmental Outlook 

The global animal health products market is segmented based on type and product. Based on the type, the market is segmented into poultry, cattle, aquatic, porcine. Among these, the poultry segment is anticipated to hold lucrative share in the market. Based on the product, the market is sub-segmented into pharmaceuticals, vaccines, feed additives.  Among these, the vaccines segment is expected to hold lucrative share in the market. ?

Global Animal Health Products Market Share by Product, 2021 (%) 

The Vaccine Segment Holds the Prominent Share in the Global Animal Health Products Market

Based on the product, the market is sub-segmented into pharmaceuticals, vaccines, feed additives.  Among these, the vaccines segment is expected to hold lucrative share in the market. Vaccinations are used to protect pets from a range of diseases. Various vaccines for many diseases, as well as various types of vaccine combinations, have been produced for pets and are accessible worldwide. Bordetella, Canine Distemper, Canine Hepatitis, Heartworm, Corona virus, Kennel cough, Leptospirosis, Lyme disease, rabies, and other vaccines are recommended for puppies by the American Kennel Club. Further, veterinary vaccines promote the health of companion animals and prevent sickness and infection transmission from domestic and wild animals to humans. It boosts cattle production while being cost-effective. Animal health companies have responded by developing novel veterinary vaccinations. For instance, in January 2019, Boehringer Ingelheim announced the launch of Ingelvac PRRS MLV, a swine vaccination, in China. The vaccine was first produced in the China Medical City in Taizhou, Jiangsu Province, by the company's veterinary vaccine manufacturing unit.

Regional Outlooks

The global animal health products market is further segmented based on geography including North America (the US, and Canada), Europe (Italy, Spain, Germany, France, and Others), Asia-Pacific (India, China, Japan, South Korea, and Others), and the Rest of the World (the Middle East & Africa, and Latin America). Among the regions, North America is anticipated to hold a significant share in the market followed by Asia-Pacific, and Europe.

Global Animal Health Products Market Growth, by Region 2022-2028 

North America is Anticipated  to Hold Prominent Market Share in the Global Animal Health Products Market

North America is expected to hold lucrative share in the market owing to huge animal-based industries, rising awareness for animal health and huge of pool of people consuming animal-based food. Asia-Pacific has significant potential owing to the increasing animal husbandry practices with an improvement in the management of farms. Moreover, the advancement in biotechnological research further boost the growth of the market in the region. Furthermore, the animal health products market in the region is being fueled by coordinated government measures. For instance, in September 2019, India's prime minister started a nearly $1.8 billion livestock immunisation scheme in Mathura, India. In the next five years, the strategy will focus on managing livestock diseases such as foot and mouth disease (FMD) and brucellosis.?

Market Players Outlook

Merck & Co., Zoetis, and Vetiquinol S.A. among others, are some of the leading participants in the global animal health products market industry. To increase market share around the world, these companies are using a variety of techniques, including mergers and acquisitions, product launches, geographic expansion and collaboration, and partnership. For instance, Elanco completed the acquisition of Kindred Biosciences in August 2021. Elanco's innovation, portfolio, and productivity (IPP) strategy was enhanced and accelerated as a result of this purchase, and the company is now better positioned to provide solutions for veterinarians and animal owners in underserved or unmet medical requirements. 

The Report Covers

• Market value data analysis of 2021 and forecast to 2028.
• Annualized market revenues ($ million) for each market segment.
• Country-wise analysis of major geographical regions.
• Key companies operating in the global animal health products market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
• Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
• Analysis of market-entry and market expansion strategies.
• Competitive strategies by identifying ‘who-stands-where’ in the market.