GITNUX MARKETDATA REPORT 2024

Animal Health Industry Statistics

The global animal health industry is expected to continue growing, driven by factors such as increasing awareness about animal health, technological advancements, and rising demand for pet care products and services.

With sources from: mordorintelligence.com, grandviewresearch.com, gminsights.com, americanpetproducts.org and many more

Statistic 1

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).

Statistic 2

The market is predominantly dictated by the companion animals sector, contributing nearly 60% of the overall market share.

Statistic 3

North America accounts for the largest market share in the animal health industry, followed by Europe, in 2021.

Statistic 4

In 2020, the global animal health market size was valued at $33 billion.

Statistic 5

The veterinary services segment held the largest market share of 37.9% in 2020.

Statistic 6

The Asia Pacific regional market is expected to witness the fastest CAGR of 7.0% from 2021 to 2028.

Statistic 7

Livestock animals accounted for the highest revenue share of over 63.0% in 2020; this is associated with the increasing meat consumption globally.

Statistic 8

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.

Statistic 9

Increasing companion animal ownership in developing countries is projected to assist market growth.

Statistic 10

Pharmaceutical products held the largest market share in 2020, with over 50.0% revenue share.

Statistic 11

Zoetis is the leading company in the animal health industry, with a market share of approximately 17%.

Statistic 12

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.

Statistic 13

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.

Statistic 14

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.

Statistic 15

Cats and dogs represent the largest segments in most regions' pet health markets.

Statistic 16

In North America, the animal parasiticides market was valued at $722.06 million in 2020.

Statistic 17

The US pet insurance market is valued at over $1 billion and is expected to double by 2022.

Statistic 18

Sales of veterinary biologic products, including vaccines, totaled $1.2 billion in the U.S. in 2019.

Statistic 19

According to the American Pet Products Association, the total pet industry expenditures were estimated at $99 billion in 2020 in the United States.

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In this post, we will explore key statistics and insights pertaining to the global animal health industry. From projected market values to regional trends and company dominance, these statistics provide a comprehensive overview of the industry landscape. Let’s dive into the data that shapes the animal health sector’s growth and evolution.

Statistic 1

"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)."

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Statistic 2

"The market is predominantly dictated by the companion animals sector, contributing nearly 60% of the overall market share."

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Statistic 3

"North America accounts for the largest market share in the animal health industry, followed by Europe, in 2021."

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Statistic 4

"In 2020, the global animal health market size was valued at $33 billion."

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Statistic 5

"The veterinary services segment held the largest market share of 37.9% in 2020."

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Statistic 6

"The Asia Pacific regional market is expected to witness the fastest CAGR of 7.0% from 2021 to 2028."

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Statistic 7

"Livestock animals accounted for the highest revenue share of over 63.0% in 2020; this is associated with the increasing meat consumption globally."

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Statistic 8

"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."

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Statistic 9

"Increasing companion animal ownership in developing countries is projected to assist market growth."

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Statistic 10

"Pharmaceutical products held the largest market share in 2020, with over 50.0% revenue share."

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Statistic 11

"Zoetis is the leading company in the animal health industry, with a market share of approximately 17%."

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Statistic 12

"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."

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Statistic 13

"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."

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Statistic 14

"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."

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Statistic 15

"Cats and dogs represent the largest segments in most regions' pet health markets."

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Statistic 16

"In North America, the animal parasiticides market was valued at $722.06 million in 2020."

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Statistic 17

"The US pet insurance market is valued at over $1 billion and is expected to double by 2022."

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Statistic 18

"Sales of veterinary biologic products, including vaccines, totaled $1.2 billion in the U.S. in 2019."

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Statistic 19

"According to the American Pet Products Association, the total pet industry expenditures were estimated at $99 billion in 2020 in the United States."

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Interpretation

Overall, the global animal health industry is poised for significant growth, with projections indicating a substantial increase in market size and revenue across various sectors. The dominance of companion animals in driving market share, coupled with the rise of pharmaceutical products and veterinary services, highlights key trends shaping the industry. Regional dynamics, such as North America leading in market share and the Asia Pacific region displaying rapid growth, further underscore the diverse landscape of the animal health market. Companies like Zoetis are positioned as key players, while specific segments like porcine diseases and parasiticides demonstrate niche opportunities for market expansion. With increasing pet ownership in both developed and developing countries, alongside rising expenditures in the pet industry, the animal health sector shows promise for continued expansion and innovation.

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