North America Animal Healthcare Market outlook
According to the report by Expert Market Research (EMR), the North America animal healthcare market size reached a value of USD 12.74 billion in 2023. Aided by increasing demand for veterinary services and the growing applications of advanced healthcare solutions for animals, the market is projected to further grow at a CAGR of 5.4% between 2024 and 2032 to reach a value of USD 20.55 billion by 2032.
Animal healthcare encompasses a wide range of services and products aimed at ensuring the health and well-being of animals, including pets, livestock, and wildlife. The market includes pharmaceuticals, vaccines, feed additives, diagnostics, and veterinary services. The animal healthcare market in North America is driven by factors such as rising pet ownership, increasing awareness of animal health, and advancements in veterinary medicine.
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The market growth is primarily driven by the increasing demand for veterinary services. The rising pet ownership in the region, coupled with the growing human-animal bond, has led to higher spending on pet care. Pet owners are increasingly seeking preventive and therapeutic treatments to ensure the health and longevity of their pets, driving the demand for veterinary services and products.
The livestock sector also plays a crucial role in market growth. The need to ensure the health and productivity of livestock animals is driving the demand for veterinary medicines, vaccines, and feed additives. The rising consumption of animal-derived food products, such as meat, milk, and eggs, is further supporting the demand for animal healthcare solutions in the livestock sector.
Technological advancements in veterinary medicine are significantly contributing to the growth of the animal healthcare market. Innovations in diagnostic tools, such as imaging systems, molecular diagnostics, and point-of-care testing, are enhancing the accuracy and efficiency of disease diagnosis in animals. These advancements are enabling veterinarians to provide better and timely care, improving treatment outcomes.
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The development of advanced pharmaceuticals and biologics is also driving market growth. The availability of new and effective treatments for various animal diseases and conditions is expanding the range of therapeutic options for veterinarians. Additionally, the use of telemedicine and digital health platforms is revolutionising veterinary care by providing remote consultations and monitoring, increasing access to veterinary services, consequently driving up the North America animal healthcare market share.
The focus on preventive healthcare and vaccination is a significant driver of the market in North America. Preventive measures, such as regular health check-ups, vaccinations, and parasite control, are essential to maintaining animal health and preventing the spread of infectious diseases. The increasing awareness of the importance of preventive healthcare among pet owners and livestock farmers is driving the demand for vaccines and preventive treatments.
The implementation of vaccination programs for livestock is crucial for controlling and eradicating diseases that can impact animal health and productivity. Government initiatives and regulations aimed at improving animal health and food safety are supporting the adoption of vaccination and preventive healthcare measures in the livestock sector.
As per the North America animal healthcare market analysis, the growing demand for high-quality pet food and nutritional products is another significant driver of the market. Pet owners are increasingly seeking premium and specialised pet food that meets the specific dietary needs of their pets. The demand for natural, organic, and functional pet food products is rising, driven by the trend towards health and wellness in pet care.
The development of nutraceuticals and dietary supplements for pets is also contributing to market growth. These products, which include vitamins, minerals, and other nutritional additives, are designed to support overall health, improve immunity, and address specific health conditions in pets. The increasing focus on pet nutrition and wellness is driving the demand for advanced pet food and nutritional products.
North America Animal Healthcare Market Segmentation
The market can be divided based on product type, animal type, and country
Market Breakup by Product Type
- Therapeutics
- Pharmaceuticals
- Feed Additives
- Vaccines
- Diagnostics
Market Breakup by Animal Type
- Cows
- Dogs and Cats
- Swine
- Poultry
- Ruminants
- Others
Market Breakup by Country
- United States of America
- Canada
Competitive landscape
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the North America animal healthcare market. Some of the major players explored in the report by expert market research are as follows:
- Thermo Fisher Scientific Inc.
- Boehringer Ingelheim International GmbH
- Merck & Co., Inc.
- Zoetis Inc.
- IDEXX Laboratories, Inc.
- Neogen Corporation
- Bimeda, Inc.
- Elanco Animal Health Incorporated
- Ceva Santé Animale
- VETOQUINOL S.A.
- Others
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