Animal Health Market Analysis North America - US, Canada, Mexico - Size and Forecast 2024-2028

North America Animal Health Market Size 2024-2028

The North America animal health market size is forecast to increase by USD 4.08 billion at a CAGR of 4.36% between 2023 and 2028.

• The 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. Specialized therapies and precision medicines, including gene editing and cell-based therapies, are revolutionizing animal healthcare. As a result, the animal health industry is responding with innovative solutions, including advanced diagnostics, preventative care, treatments and companion animal specialty drugs, to address these challenges and ensure the health and safety of both animals and humans.

What will be the size of the North America Animal Health Market during the forecast period?

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• The market encompasses a range of products and services designed to maintain the wellbeing of various animal species, including livestock animals and companion animals. Key product categories include drugs, vaccines, medicated animal feeds, diagnostic products, and advanced veterinary products. The market caters to farmers, pet owners, and veterinarians, aiming to expand awareness and prevent diseases through the use of specific veterinary products. Digital technologies, such as diagnostics, play a significant role in enhancing the sector's sustainability and agricultural productivity. Furthermore, the environmental impact of animal health practices is an increasingly important consideration, necessitating the development of eco-friendly solutions.

How is this market segmented and which is the largest segment?

The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD billion" for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.

• Animal Type
  • Livestock
  • Companion animals
• Product
  • Pharmaceutical
  • Feed additive
  • Biologicals
• Geography
  • North America
    • Canada
    • Mexico
    • US

By Animal Type Insights

• The livestock segment is estimated to witness significant growth during the forecast period. The market experiences significant advancements, driven by cutting-edge research and innovative technologies. Brucellosis, Rabies, and Porcine tapeworm are among the prevalent diseases addressed in this sector. This phenomenon extends beyond livestock to pets, with pet humanization fueling the pet care market. Young adults increasingly seek personalized treatments and advanced veterinary care for their companion animals.
• Each segment, whether it be animal type (pets, livestock, poultry), product type (milk, meat, producers' needs), or commercial needs (health and productivity, herds or flocks), benefits from these advancements. Activity tracking collars and monitoring devices are transforming pet care, enabling real-time activity monitoring and ensuring optimal health and wellbeing. Computed tomography scans and other diagnostic tools provide insights into internal structures, allowing for early detection and treatment of diseases. These advancements cater to the growing demand for specialized items and pet care products in the commercial and companion animal sectors.

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The Livestock segment was valued at USD 8.11 billion in 2018 and showed a gradual increase during the forecast period.

Market Dynamics

Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.

What are the key market drivers leading to the rise in adoption of North America Animal Health Market?

• Increase in animal and pet ownership is the key driver of the market. The market is experiencing a significant rise in demand due to the increasing number of households with pets, particularly dogs and cats. Animal-derived products, such as dairy and eggs, also contribute to this trend, leading to higher yields and improved product quality. This growth in the pet population and agricultural sector necessitates a focus on wellbeing. Manufacturers and biopharmaceutical companies are capitalizing on this trend, providing innovative solutions for disease prevention and treatment optimization. Food-producing animals, including livestock and poultry, are essential to both the agricultural industry and public health. Ranchers and veterinarians play crucial roles in maintaining the health of these animals, ensuring sustainable development and labor efficiency.
• Digital technologies, such as diagnostics and disease detection, are revolutionizing the animal health industry. Antibiotics and antimicrobial resistance remain critical concerns, necessitating the development of alternative treatments and preventative measures. Sustainable development, agricultural productivity, and environmental impact are also essential considerations in the animal health sector. Animal welfare is a top priority for pet owners and farmers alike, driving the need for advanced health services and humane practices. By investing in research and development, the animal health industry can continue to provide effective solutions for disease prevention, treatment optimization, and overall animal wellbeing.

What are the market trends shaping the North America Animal Health Market?

• Rising awareness regarding animals intestinal health is the upcoming trend in the market. The market is experiencing significant growth due to the increasing recognition of the health benefits associated with animal-derived products, including dairy and eggs. These foods contribute to improved bone health, enhanced immunity, and the prevention of protein deficiencies. Manufacturers and biopharmaceutical companies are addressing this demand by providing dietary supplements to ranchers raising food-producing animals. A key focus is on maintaining optimal gut health, which not only benefits the herd or flock but also leads to higher yields and improved product quality, thereby increasing profitability. Professionals such as veterinarians and nutritionists play a crucial role in this industry by advising farmers on reducing antibiotic use in farm animals.
• They develop customized action plans and offer support to prevent the spread of diseases and mitigate the risk of antimicrobial resistance. The integration of digital technologies, diagnostics, and sustainable development practices in the animal health industry is essential for agricultural productivity, labor efficiency, and public health. Moreover, animal welfare, disease detection, and treatment optimization are critical components of this sector, ensuring the well-being of food-producing animals and maintaining the highest standards of food safety.

What challenges does North America Animal Health Market face during the growth?

Disadvantages of antibiotics is a key challenge affecting the market growth.

• The market experiences a rising demand due to the importance of ensuring the well-being of food-producing animals, such as dairy cattle and poultry. Animal-derived products, including milk, eggs, and meat, are integral to the global food supply, necessitating higher yields and improved product quality. Preventative measures, including the use of antibiotics and antimicrobials, are crucial for disease prevention in food-producing animals. However, the indiscriminate use of these substances can lead to antimicrobial resistance, posing a significant threat to both animal health and public health. Manufacturers and biopharmaceutical companies are at the forefront of developing innovative solutions to address this challenge.
• They are investing in digital technologies, diagnostics, and sustainable development to optimize treatment and enhance agricultural productivity. Ranchers and veterinarians are increasingly adopting these advanced methods to improve labor efficiency, minimize the environmental impact, and promote animal welfare. Disease detection and treatment optimization are key areas of focus, as they can significantly reduce the need for antibiotics and mitigate the risk of antimicrobial resistance. The industry is a critical component of the agricultural sector, with far-reaching implications for public health, food security, and environmental sustainability. As such, all stakeholders must work together to ensure the responsible use of antibiotics and antimicrobials in animal agriculture, ultimately contributing to a healthier, more productive, and sustainable food system.

Exclusive North America Animal Health Market Customer Landscape

The market forecasting 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 market growth analysis strategies.

Customer Landscape

Key Companies & Market Insights

Companies are implementing various strategies, such as strategic alliances, market forecast partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.

The market research and growth report includes detailed analyses of the competitive landscape of the market and information about key companies, including:

• 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
• Zoetis Inc.

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.

Research Analyst Overview

The market is a significant sector that focuses on the production and distribution of products and services aimed at preventing, diagnosing, and treating various health conditions in animals. The markets cater to a wide range of species, including livestock, companion animals, and zoo animals. Feeds, veterinary pharmaceuticals, and diagnostic services are the primary components of the market. The markets are essential for maintaining the health and productivity of livestock, ensuring food security, and improving the quality of life for companion animals. The market is driven by factors such as increasing animal population, rising awareness of animal health and welfare, and advancements in veterinary technology.

Moreover, the companies offer a diverse range of products and services, including vaccines, pharmaceuticals, feed additives, and diagnostic tools. These companies employ a team of veterinarians, researchers, and other professionals to develop and market their products effectively. The market is a dynamic and competitive industry, with companies constantly innovating to meet the evolving needs of their customers. The market is also subject to various regulations and guidelines to ensure the safety and efficacy of animal health products. The markets are present in various regions worldwide, with different market sizes and growth patterns. The market is expected to continue growing due to the increasing demand for animal health products and services.

Furthermore, the marketing strategies focus on building brand awareness, educating customers about the benefits of their products, and providing excellent customer service. Companies use various channels, including digital marketing, veterinary clinics, and animal shows, to reach their target audience effectively. The companies also collaborate with various stakeholders, including veterinarians, farmers, and animal welfare organizations, to promote animal health and welfare and build strong relationships with their customers.

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What are the Key Data Covered in this Market Research Report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the market growth and forecasting between 2024 and 2028
• Precise estimation of the size of the market and its contribution of the market in focus to the parent market
• Accurate predictions about upcoming market growth and trends and changes in consumer behaviour
• Growth of the market across North America
• Thorough analysis of the market's competitive landscape and detailed information about companies
• Comprehensive analysis of factors that will challenge the growth of market companies

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