Enjoy complimentary customisation on priority with our Enterprise License!
The North America - Animal Health Market size is estimated to grow by USD 4,861.96 million at a CAGR of 5.32% between 2022 and 2027.
There has been a significant increase in animal ownership in North America over the last few years. One of the most popular type of pet 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.
Technavio has segmented the market into Animal Type, Product, and Geography
It also includes an in-depth analysis of drivers, trends, and challenges. Our report examines historic data from 2017 to 2021, besides analyzing the current market scenario.
To learn more about this report, Request Free Sample
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.
Get a glance at the market contribution of various segments View a PDF Sample
The livestock segment was the largest segment and was valued at USD 7,849.31 million in 2017. 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 North America animal health market growth during the forecast period.
The pharmaceutical segment of the animal health market in North America 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.
Buy Now Full Report and Discover More
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.
There are multiple factors influencing market growth. Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges.
A key factor shaping the North America animal health 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 increase in the demand for animal intestinal health supplements due to the increasing awareness among farmers and livestock owners. Hence, such factors are positively impacting the North America - animal health market. Therefore, it is expected to drive the North America animal health market growth during the forecast period.
The disadvantages of antibiotics are one of the key challenges hindering the North America animal health 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 North America animal health market. Therefore, it is expected to hinder the North America animal health market growth during the forecast period.
Buy Now Full Report and Discover More
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.
North America Animal Health Market Customer Landscape
The North America animal health market report forecasts market growth by revenue and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
North America Animal Health Market Scope |
|
Report Coverage |
Details |
Page number |
139 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 5.32% |
Market growth 2023-2027 |
USD 4,861.96 million |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
4.37 |
Competitive landscape |
Leading Vendors, Market Positioning of Vendors, 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, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
View Sample PDF at your Fingertips
We can help! Our analysts can customize this market research report to meet your requirements. Get in touch
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 Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
Get lifetime access to our
Technavio Insights
Cookie Policy
The Site uses cookies to record users' preferences in relation to the functionality of accessibility. We, our Affiliates, and our Vendors may store and access cookies on a device, and process personal data including unique identifiers sent by a device, to personalise content, tailor, and report on advertising and to analyse our traffic. By clicking “I’m fine with this”, you are allowing the use of these cookies. Please refer to the help guide of your browser for further information on cookies, including how to disable them. Review our Privacy & Cookie Notice.