Animal Health Market Poised for Growth with Shifts in Industry Strategies
New York, Monday, 1 September 2025.
The animal health market is expected to grow from USD 59.24 billion in 2024 to USD 110.16 billion by 2034 due to rising pet ownership and demand for innovative solutions.
Drivers of Growth: Increasing Demand for Pet Care
The animal health market’s anticipated expansion from USD 59.24 billion in 2024 to USD 110.16 billion by 2034 highlights the vital role pet ownership plays in driving sector growth [1]. This growth is supported by the expanding human-animal bond, leading to increased demand for companion animal care and the rising need for high-quality animal protein and dairy products [1]. North America, with its comprehensive veterinary network, leads the market, driven largely by high rates of pet ownership and the increasing prevalence of zoonotic diseases [1].
Innovation and Technological Advancements
Key industry players like Zoetis, Merck Animal Health, and Ceva Sante Animale are advancing digital diagnostics and sustainable antibiotic alternatives to mitigate antimicrobial resistance and environmental impact [1]. These technological advancements reflect a strategic response to market demands, focusing on early disease recognition and sophisticated parasite control solutions [1]. Platforms for direct-to-consumer genetic testing are also witnessing growth, as they offer valuable insights into animal health for improved long-term welfare [5].
Regional Market Dynamics
The Asia Pacific region is poised to experience rapid growth in the animal health industry due to investments in veterinary infrastructure and animal welfare initiatives [1]. Meanwhile, the Italian animal health market underscores the impact of urbanization on rising companion animal populations, thus increasing the demand for veterinary care [2]. The U.S. market benefits from a strong domestic consumer base with spending on pet health care projected to reach significant heights due to an observed increase in spending on companion animals [4].
Strategic Investments and Future Outlook
Looking forward, strategic partnerships and investments in sustainable solutions are set to shape the animal health market’s future. Major investments in livestock productivity and biosecurity, including disease surveillance and advanced husbandry techniques, are being prioritized to enhance food safety and animal welfare [2]. Companies are making concerted efforts to integrate digital technologies into standard care practices, highlighting the ongoing digital transformation within the industry [3]. As the industry innovates, the overall market is expected to maintain a compound annual growth rate of 6.40% through 2034 [1].
Sources
- www.globenewswire.com
- www.imarcgroup.com
- www.grandviewresearch.com
- money.usnews.com
- www.linkedin.com