Report Highlights
The global market for animal therapeutics and diagnostics is estimated to increase from $61.0 billion in 2023 to reach $81.2 billion by 2028, at a compound annual growth rate (CAGR) of 5.9% from 2023 through 2028.
Report Includes
- 56 data tables and 143 additional tables
- An overview of the global market for animal therapeutics and diagnostics
- Estimates of the market size and analyses of global market trends with data from 2020-2023, and projections of compound annual growth rates (CAGRs) through 2028
- Assessment of market drivers, opportunities, and restraints, and current trends and technological advances
- Evaluation of the market with a focus of global production of animal healthcare products, vaccines, feed additives, therapeutic and diagnostic drugs
- Analyses of the market shares of the leading suppliers of animal vaccines and therapeutic drugs, the competitive landscape, market positioning, revenue sales and product segments
- Discussion of the role of major providers of vaccines and companion animal products approved for a wide variety of indications, and emerging technologies in the market.
- Analyses of ESG trends and patents granted for animal health products
- Profiles of the leading companies, including Boehringer Ingelheim, DSM Nutritional Products, Merck & Co. Inc., Phibro Animal Health Corp., Virbac S.A., and Zoetis Services LLC
Report Scope
The report’s scope includes an overview of the global market for animal therapeutics and diagnostics along with an analysis of global market trends; the report uses 2022 as the base year and forecasts 2023 the compound annual growth rate (CAGR) for 2023 to 2028.
The report is designed to be a helpful business tool that will provide a thorough evaluation of the animal therapeutics and diagnostics market. The geographical scope of this study is worldwide, with special interest for markets, trends, and statistics by key geographical regions such as the United States, European countries, and Brazil, Japan, and Australia. The report identifies markets in four segments: vaccines, pharmaceuticals, feed additives, and diagnostics. For the purpose of this study, diagnostics include products that are used at the point of care and are considered rapid tests or kits, in-clinic analyzers, and imaging equipment. Each market segment provides detailed information based on product categories, use of products, forecasts, and competitive analyses.
Report Synopsis
| Report Metrics | Details | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Base year considered | 2022 | ||||||||||||
| Forecast period considered | 2023-2028 | ||||||||||||
| Base year market size | $57.6 billion | ||||||||||||
| Market size forecast | $81.2 billion | ||||||||||||
| Growth rate | CAGR of 5.9% for the forecast period of 2023-2028 | ||||||||||||
| Units considered | $ Millions | ||||||||||||
| Segments covered | Product Type, Animal Group, and Geographical Region | ||||||||||||
| Regions covered | North America, Europe, Asia-Pacific, and Rest of World | ||||||||||||
| Key Market Drivers |
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| Companies studied |
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Frequently Asked Questions (FAQs)
- Rising trend of companion pet ownership
- Growing incidence and prevalence of animal diseases
- The increasing variety of zoonotic diseases
- Growing animal health insurance
Analyst Credentials
BCC Research Team possesses expertise and experience in life and physical science domains. They specialize in offering valuable business insights, including industry analysis, competitor intelligence, strategic and financial analysis, and opportunity assessment. The team has in-depth knowledge of various sectors, including healthcare, biotechnology, pharmaceuticals, IT, automation, advanced materials, and energy. They are proficient in qualitative and quantitative market intelligence providing clients with actionable insights. With a vast understanding of the competitive landscape, the team can support clients in making data-driven decisions to help them achieve a competitive edge in their respective markets.
Report Highlights
The global animal therapeutics and diagnostics market should grow from $49.9 billion in 2019 to $66.5 billion by 2024 with a compound annual growth rate (CAGR) of 5.9% for the period of 2019-2024.
Report Highlights
The global market for animal therapeutics and diagnostics totaled nearly $40.1 billion in 2016 and should total $47.9 billion in 2021, registering a compound annual growth rate (CAGR) of 3.6% for the period 2016-2021.
Report Highlights
The global market for animal therapeutics and diagnostics totaled $37.8 billion in 2014 and is expected to reach about $46.5 billion in 2019, registering a compound annual growth rate (CAGR) of 4.2% for the period 2014-2019.
Report Highlights
The total market for animal therapeutics and diagnostics was $30 billion in 2011, up from $25 billion in 2008. By 2016, this market is likely to exceed $42 billion, with a five-year compound annual growth rate (CAGR) of 7.2% from 2011 through 2016.
Report Highlights
- The global market for animal therapeutics and diagnostics is expected to be worth $24.1 billion in 2008, up from $22.3 billion in 2007. This should increase to $33.0 billion in 2013, a compound annual growth rate (CAGR) of 6.5%.
- The animal therapeutics segment dominates the market, generating $21.8 billion in 2007 and an estimated $23.6 billion in 2008 and $32.4 billion in 2012, a CAGR of 6.6%.
- Diagnostics for animals were worth $474 million in 2007. This should increase to $498 million in 2008 and $624 million in 2013, for a CAGR of 4.6%.
Report Highlights
-
The total worldwide market for animal therapeutics and diagnostics was estimated at more than $15.6 billion in 2003 and by 2008 is likely to reach $19.6 billion, at an average annual growth rate (AAGR) of 4.7%.
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Animal therapeutics, e.g., vaccines, pharmaceuticals, and feed additives, are valued at $15.1 billion, and rising at an AAGR of 4.7%.
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Pharmaceuticals account for the largest percentage of revenues at nearly 54%.
-
Feed additives are the second largest market segment due to demand from the food animal producer segment.
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Diagnostic products account for a smaller portion of the market
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