The Latest Animal Health Industry Statistics Explained
The global animal health industry is projected to reach USD 67.56 billion by 2026, witnessing a CAGR of 6.3% during the forecast period (2021 – 2026).
This statistic indicates that the global animal health industry is expected to grow significantly over the forecast period from 2021 to 2026, with projections reaching USD 67.56 billion by 2026. The Compound Annual Growth Rate (CAGR) of 6.3% suggests a steady and consistent growth rate for the industry during this period. This growth is likely driven by various factors such as increasing demand for animal health products and services, advancements in veterinary medicine, and a rising awareness of animal welfare. The projected growth highlights the potential opportunities within the animal health industry and signifies a positive outlook for the market in the coming years.
The market is predominantly dictated by the companion animals sector, contributing nearly 60% of the overall market share.
The statistic indicates that the companion animals sector, which includes pets such as dogs, cats, and other household animals, plays a significant role in driving the market dynamics. With a contribution of nearly 60% of the overall market share, this sector holds a dominant position in influencing market trends, demands, and revenues. This suggests that businesses within the companion animals sector have a substantial impact on the market’s performance and growth, making it a crucial segment for market players to focus on to leverage opportunities and maximize profitability.
North America accounts for the largest market share in the animal health industry, followed by Europe, in 2021.
The statistic indicates that as of 2021, North America holds the dominant position in the global animal health industry, with the largest market share. This suggests that a significant portion of the revenue generated in the animal health sector comes from North American markets. Following North America, Europe has the second-largest market share, indicating that the region also plays a substantial role in the animal health industry. This statistic reflects the economic importance and market influence of North America and Europe in the animal health sector, highlighting the significant opportunities and competition present in these markets for companies operating within the industry.
In 2020, the global animal health market size was valued at $33 billion.
The statistic states that the global animal health market had a value of $33 billion in 2020. This figure represents the total financial worth of products and services related to the health and well-being of animals worldwide for that year. The animal health market encompasses a wide range of sectors, including pharmaceuticals, vaccines, feed additives, and diagnostic services for livestock, pets, and wildlife. The market size of $33 billion indicates the significant economic importance and growth potential of the animal health industry, reflecting the increasing awareness and investment in animal welfare and health management globally.
The veterinary services segment held the largest market share of 37.9% in 2020.
This statistic indicates that the veterinary services segment dominated the market in 2020 by holding the largest market share at 37.9%. This means that nearly 38% of the total market revenue in the industry was attributed to veterinary services. This segment likely outperformed other sectors within the industry, such as pet care products or pet food, in terms of generating revenue and serving the needs of pet owners. The significant market share held by veterinary services underscores the importance of veterinary care for pets and the growing demand for professional animal healthcare services in the market.
The Asia Pacific regional market is expected to witness the fastest CAGR of 7.0% from 2021 to 2028.
This statistic indicates that the Asia Pacific regional market is projected to experience the highest Compound Annual Growth Rate (CAGR) of 7.0% from 2021 to 2028 compared to other regions. A CAGR of 7.0% suggests a consistent and relatively strong growth rate over the specified period, highlighting the region’s potential for economic expansion and market development. This forecast implies that businesses operating in or targeting the Asia Pacific region may find significant growth opportunities and potential for investment returns within this timeframe based on the expected market performance.
Livestock animals accounted for the highest revenue share of over 63.0% in 2020; this is associated with the increasing meat consumption globally.
The statistic indicates that livestock animals contributed significantly to the total revenue in 2020, with a share of over 63.0%. This suggests that the livestock industry played a crucial role in the economy during that period. The high revenue share is likely driven by the growing demand for meat products across the world, which has led to increased production and sales within the livestock sector. As such, the statistic reflects a trend of rising meat consumption globally, highlighting the importance of livestock animals in meeting this demand and generating substantial revenue in the process.
In the Livestock segment, the largest part of the market share was claimed by Porcine diseases remain, reaching $2.6 billion in 2019 or 8.6% of the market share.
In the Livestock segment, Porcine diseases was the dominant sector in terms of market share, accounting for $2.6 billion in revenue in 2019, which represented 8.6% of the overall market share. This indicates that Porcine diseases had a significant impact on the Livestock industry, capturing a substantial portion of the market. Such a sizable share suggests that the prevention and treatment of Porcine diseases is a key focus area within the Livestock segment, highlighting the importance of addressing health concerns in the pig farming industry to maintain profitability and sustainability.
Increasing companion animal ownership in developing countries is projected to assist market growth.
The statistic “Increasing companion animal ownership in developing countries is projected to assist market growth” suggests that the rising trend of adopting pets in developing nations is expected to positively impact the market related to pet products and services. As more people in these countries become pet owners, there is an increased demand for goods such as pet food, accessories, veterinary services, and grooming facilities. This growth in pet ownership can drive economic opportunities for businesses in the pet industry, leading to an expansion of the market and potentially creating job opportunities. Additionally, the shift towards pet ownership in developing countries may also reflect changing societal norms and an increase in disposable income among the population.
Pharmaceutical products held the largest market share in 2020, with over 50.0% revenue share.
The statistic indicates that pharmaceutical products accounted for the highest percentage of revenue within the market in 2020, holding over 50.0% of the total market share. This suggests that pharmaceutical products were the dominant category in terms of generating revenue compared to other products within the industry during that year. The substantial market share held by pharmaceutical products emphasizes their importance and impact within the market, highlighting the significant demand and consumption of these products by consumers. This statistic underscores the strong performance and market position of pharmaceutical products in 2020.
Zoetis is the leading company in the animal health industry, with a market share of approximately 17%.
The statistic stating that Zoetis is the leading company in the animal health industry with a market share of approximately 17% indicates that Zoetis holds a significant portion of the total market within the industry. This means that Zoetis has a considerable influence and presence in providing products and services related to animal health compared to its competitors. With a market share of 17%, Zoetis likely has a strong brand reputation, extensive distribution channels, and a diverse portfolio of products that cater to the needs of the animal health market. This statistic suggests that Zoetis is a key player in the industry and holds a competitive advantage over other companies in the market.
Distribution of sales in the animal health market worldwide in 2019, by species, revealed that companion (pet) animals held around 47% of the market share.
The statistic indicates the distribution of sales in the animal health market globally in 2019, categorized by species, where companion (pet) animals accounted for approximately 47% of the total market share. This suggests that a significant portion of the animal health market revenue is driven by products and services targeted towards pet owners and their companion animals, such as dogs, cats, and other household pets. The data highlights the importance and economic significance of the pet industry within the broader animal health market, reflecting the growing investment and expenditure in pet healthcare and well-being worldwide.
The companion animal health industry in the United States alone is valued at $18.11 billion in 2018, projected to reach up to $24.37 billion by the year 2022.
The given statistic highlights the substantial growth and economic significance of the companion animal health industry in the United States. In 2018, the industry was valued at $18.11 billion, indicating a sizable market for products and services related to the health and well-being of pets. The projected increase to $24.37 billion by 2022 suggests a promising outlook for the industry, with an expected growth in demand and investment over the coming years. This data underscores the importance of pet health to American consumers, as well as the opportunities for businesses and stakeholders in the companion animal health sector to capitalize on this market growth.
As of 2018, the Asia Pacific animal health market size was over USD 6.5 billion and is projected to witness more than 9.5% CAGR from 2019 to 2025.
The statistic indicates that in 2018, the animal health market in the Asia Pacific region was valued at over USD 6.5 billion. Furthermore, it is projected to experience a compound annual growth rate (CAGR) of more than 9.5% from 2019 to 2025. This suggests a strong and consistent increase in the market size over the forecast period, with the potential for substantial growth opportunities in the animal health industry within the Asia Pacific region. This growth may be driven by factors such as increasing awareness about animal health, rising pet ownership, advancements in veterinary medicine, and the growing demand for high-quality animal healthcare products and services.
Cats and dogs represent the largest segments in most regions’ pet health markets.
The statistic that “cats and dogs represent the largest segments in most regions’ pet health markets” indicates that among all types of pets, cats and dogs are the primary focus of the pet health industry across various geographical areas. This suggests that a significant portion of pet health products and services, such as veterinary care, pet insurance, medications, and specialized treatments, are directed towards cats and dogs as the most popular and commonly owned pets. The statistic underscores the importance and demand for healthcare offerings tailored specifically for these companion animals, highlighting the significant market share and attention given to serving the health needs of cats and dogs in the pet industry.
In North America, the animal parasiticides market was valued at $722.06 million in 2020.
In North America, the animal parasiticides market refers to the economic value of products designed to control and treat parasitic infestations in animals such as pets and livestock. The statistic indicates that in the year 2020, the total market value of these products, including treatments like flea and tick control medications, dewormers, and other anti-parasitic solutions, amounted to $722.06 million. This figure reflects the significant demand for and investment in animal health and wellness solutions within the region, as well as the importance of protecting animals from the harmful effects of parasites. Tracking the market value provides insights into trends in animal health care, pet ownership, and agricultural practices in North America.
The US pet insurance market is valued at over $1 billion and is expected to double by 2022.
The statistic indicates that the United States pet insurance market is currently worth more than $1 billion, reflecting the significant financial investment and interest in providing healthcare coverage for pets. Furthermore, there is an expectation that this value will double by 2022, highlighting a projected growth rate and potential expansion within the industry. This growth may be attributed to the increasing awareness of the importance of pet health and well-being, leading to a higher demand for insurance coverage to mitigate the financial burden of veterinary care. Overall, this statistic underscores the growing trend of pet owners prioritizing their pets’ healthcare needs and investing in insurance plans to ensure their beloved companions receive adequate medical care.
Sales of veterinary biologic products, including vaccines, totaled $1.2 billion in the U.S. in 2019.
The statistic “Sales of veterinary biologic products, including vaccines, totaled $1.2 billion in the U.S. in 2019” represents the total revenue generated from the sales of veterinary biologic products, which primarily includes vaccines and other biological products for animals. This figure demonstrates the economic significance of the veterinary biologics industry within the U.S. market in 2019, indicating substantial demand for these products. The high sales value of $1.2 billion highlights the importance of animal health and the investments made by pet owners, livestock producers, and veterinary professionals in safeguarding the well-being of animals through preventive measures such as vaccinations. Additionally, it indicates a thriving market for veterinary biologic products, reflecting ongoing advancements in animal healthcare and a growing awareness of the importance of disease prevention in livestock and pets.
According to the American Pet Products Association, the total pet industry expenditures were estimated at $99 billion in 2020 in the United States.
The statistic states that the total pet industry expenditures in the United States were estimated to be $99 billion in 2020, as reported by the American Pet Products Association. This figure encompasses the total amount of money spent on pets and related products and services, including pet food, veterinary care, pet supplies, grooming, boarding, and other pet-related expenses within the U.S. economy. The significant expenditure on pets showcases the increasing importance of pets in American households and the growing pet industry market. This statistic serves as a key indicator of the overall economic impact and consumer behavior in the pet industry within the United States in the year 2020.
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