Animal Drugs Market - By Product (Drugs, Vaccines, Medicated Feed Additives), By Animal Type (Livestock Animals, Companion Animals), By Route of Administration (Oral, Injectable, Topical), By Distribution Channel & Forecast, 2023-2032

Animal Drugs Market - By Product (Drugs, Vaccines, Medicated Feed Additives), By Animal Type (Livestock Animals, Companion Animals), By Route of Administration (Oral, Injectable, Topical), By Distribution Channel & Forecast, 2023-2032

Animal Drugs Market Size

Animal Drugs Market size crossed USD 35 billion in 2022 and is projected to expand at a 5.4% CAGR from 2023-2032.

Increasing cases of obesity in companion animals will affect animal drugs industry dynamics. Obesity is a major healthcare concern among pet parents and in animal husbandry as it induces a higher risk of osteoarthritis & diabetes mellitus, reduces the quality of life, and shortens life span.

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Due to increasing incidences of animal obesity, the demand for animal drugs is anticipated to pick up pace in the near future. As per the Veterinary Centers of America (VCA) data, approximately 25% to 30% of the general dog population in the U.S. is obese, with 40%-45% of dogs within 5-11 years of age weighing more than the ideal body mass index (BMI).
 

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High cost of animal drugs to hamper industry progress

Veterinary medicines are often expensive and have higher costs of services and treatment. As per a recent survey, the estimated annual expenditure associated with preventative dog health care including the cost of parasite prevention, vaccines, and other essentials is between USD 220-700 in the U.S. Hence, the high cost of these treatment procedures and services may inhibit product demand across underdeveloped and developing regions with poor socioeconomic capabilities, thus restraining overall business performance.

Animal Drugs Market Analysis

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Animal drugs market from drugs segment is expected to record over 4.5% CAGR from 2023-2032. High prevalence of veterinary diseases and obesity among livestock and companion animals will propel the demand for associated treatment and drugs. According to the 2021 article by VCA, bovine respiratory disease (BRD) accounted for nearly 80% of herd-level morbidity and approximately 50% of mortality among feedlot cattle in the U.S. These diseases being highly fatal require appropriate preventative care and treatment to limit the outbreak of diseases and loss of animal life, thus offering lucrative scope for animal drug manufacturers.

Animal drugs market share from livestock animals accounted for more than USD 22 billion in 2022. Growing demand for animal-based protein for human consumption has led to a rise in awareness regarding livestock health. Furthermore, the high risk of zoonotic diseases such as bovine diarrhea virus, anthrax, campylobacter, and swine fever virus represents the robust need for preventative care for animals. For instance, in 2020, the prevalence of classical swine fever in Japan stood at 48% in pig farms and 20% in boar farms. Hence increasing focus on maintaining animal health and livestock quality will propel the need for animal drugs among livestock farmers.

Animal drugs market valuation from the topical route of administration is estimated to surpass USD 10.2 billion by 2032. Topical drugs are applied to the skin of animals and pets to treat a spectrum of veterinary illnesses. Drug delivery via topical route offers a myriad of benefits starting with better and faster recovery, followed by easy administration, and cost-effectiveness, along with improved therapeutic results. This form of drug application plays a crucial role in animal husbandry, allowing producers to deal with bacterial and yeast overgrowth or SIBO, allergic dermatitis, and other undesired conditions.

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Animal drugs market size from veterinary clinics segment is anticipated to exhibit a 5.5% CAGR between 2023-2032. Rapid corporatization of veterinary clinics in recent years has empowered large veterinary clinic chains worldwide, enhancing access to quality health care for animals. Additionally, a surge in the number of investments in veterinary clinics is providing pet owners access to advanced therapeutics. For instance, in May 2022, Boston Veterinary Clinic (BVC) acquired a Series A minority investment from Denali Growth Partners and announced plans to establish two new primary care veterinary clinics in Greater Boston. Similar investments and expansions will proliferate the distribution of animal drugs.

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North America animal drugs market is poised to exceed USD 21 billion by 2032. The region has a massive veterinary sector with an increasing rate of pet adoption, high pet care expenditure, and growing incidences of zoonotic diseases. According to American Pet Products Association’s (APPA) 2021-22 National Pet Owners Survey, nearly 90.5 million families, that is 70% of households in the U.S. own a pet. High disposable income and growing inclination towards pet adoption in developed countries such as the U.S. represent lucrative business prospects for animal drug manufacturers.

Animal Drugs Market Share

Some of the leading companies in the global animal drugs market include

• Elanco Animal Ceva Sante Animale
• Boehringer Ingelheim International GmbH
• Dechra Pharmaceuticals Ltd
• Durvet, Inc
• Merck & Co., Inc
• Neogen Corporation, Inc
• Virbac S.A
• Vetoquinol SA
• Zoetis, Inc

These companies are focusing on strategic collaborations, deals, and partnerships to boost innovation. For instance, in April 2022, Elanco Animal Health launched BiomEdit, a microbiome innovation firm in collaboration with Gingko Bioworks to enable the discovery, design, and launch of novel products.

COVID-19 Impact

The emergence of COVID-19 outbreak rendered a negative impact on the global market. In the initial phase, the pandemic resulted in very strict lockdown restrictions which led to a shutdown of several veterinary businesses worldwide. This also negatively affected the rate of pet ownership in the wake of the pandemic. However, several countries are experiencing a notable rise in pet adoption due to the growing need for companionship, which is anticipated to positively influence industry trends. Moreover, several governments are empowering animal medicine producers through supportive initiatives. For instance, in January 2022, the EU implemented the Veterinary Medicinal Products Regulation rolling out new measures to boost innovation in high-quality veterinary medicines.

The animal drugs market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD Million from 2018 to 2032 for the following segments

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 By Product

• Drugs
  • Antiparasitic
  • Anti-inflammatory
  • Anti-infectives
  • Others
• Vaccines
  • Modified live vaccines (MLV)
  • Killed inactivated vaccines
  • Others
• Medicated feed additives
  • Antibiotics
  • Vitamins
  • Amino acids
  • Enzymes
  • Antioxidants
  • Prebiotics and probiotics
  • Minerals
  • Others

By Animal Type

• Livestock animals
  • Poultry
  • Swine
  • Cattle
  • Fish
  • Others
• Companion animals
  • Dogs
  • Cats
  • Horses
  • Others

By Route of Administration

• Oral
• Injectable
• Topical
• Others

By Distribution Channel

• Veterinary hospitals
• Veterinary clinics
• Pharmacy and drug stores
• E-commerce

The above information is provided for the following regions and countries

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • UK
  • France
  • Spain
  • Italy
  • Poland
  • The Netherlands
• Asia Pacific
  • China
  • Japan
  • India
  • Australia
  • South Korea
  • Taiwan 
• Latin America
  • Brazil
  • Mexico
  • Argentina 
• Middle East & Africa
  • South Africa
  • GCC Countries
  • Israel