Artificial Intelligence (AI) in Animal Health Market Analysis

AI in Animal Health Market Analysis

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Based on solution, the artificial intelligence (AI) in animal health market is segmented into hardware, software, and service. The hardware segment dominated the market in 2023 and accounted for USD 768.3 million.

• Increasing adoption of AI-driven devices, such as wearable sensors, imaging systems, and diagnostic equipment, has substantially contributed to this growth. These advanced hardware solutions enable real-time monitoring, precise diagnostics, and efficient treatment plans, enhancing overall animal healthcare.

   

• Moreover, rising investment in technological advancements and the growing awareness among veterinarians and pet owners about the benefits of AI-enhanced hardware further bolster the segment's dominant position in the market.

Based on application, the AI in animal health market is segmented into diagnostics, identification, tracking, and monitoring, and other applications. The diagnostics segment held a market share of 54.1% in 2023.

• Increasing integration of AI in veterinary diagnostics and the availability of AI-powered diagnostic solutions are major factors contributing to segmental growth.

   

• For instance, SignalRAY is a patented veterinary AI technology developed by SignalPET that uses machine learning to aid practitioners in the diagnostic process.

   

• Such AI-driven tools enhance the accuracy and speed of diagnostic procedures, allowing for earlier detection and treatment of diseases in animals.

   

• Furthermore, the increasing prevalence of chronic diseases in animals, along with the growing demand for precise and efficient diagnostic methods, significantly contributes to the dominance of the diagnostics segment in this market.

   

Based on animal type, the artificial intelligence (AI) in animal health market is segmented into companion animals and livestock animals. The companion animal segment is anticipated to grow at a CAGR of 18.1% between 2024 - 2032.

• The rising prevalence of chronic diseases and the need for regular health check-ups in companion animals fuels the demand for advanced AI-driven solutions,

   

• Additionally, the increasing availability of AI-based pet health solutions, growing pet expenditure, and humanization of pets are some of the key drivers contributing to the high segmental growth.

   

Based on end-use, the market is segmented into veterinary hospitals & clinics, animal farms, veterinary diagnostic laboratories, and other end-users. The veterinary hospitals & clinics segment dominated the market in 2023 and is anticipated to reach USD 2.3 billion by 2032.

• Veterinary hospitals and clinics hold a significant market share in the AI in animal health market due to their pivotal role in adopting and implementing advanced diagnostic and treatment technologies.

   

• These institutions are at the forefront of integrating AI-driven solutions to enhance diagnostic accuracy, optimize treatment plans, and improve overall patient outcomes.

   

• Additionally, these facilities often have the resources and infrastructure necessary to support AI applications, such as electronic health records and advanced imaging equipment, further bolstering their market share.

North America artificial intelligence (AI) in animal health market was valued at USD 461.2 million in 2023 and is anticipated to reach USD 2 billion by 2032.

• The region benefits from advanced technological infrastructure and significant investments in AI research and development, fostering innovation and application in the veterinary sector.

   

• Additionally, the presence of leading AI and veterinary technology companies coupled with high adoption rate of AI technologies among veterinary practices, pet owners, and livestock farmers, further enhances the regional market growth.

   

The U.S. market is anticipated to grow at a CAGR of 17.9% between 2024 - 2032.

• A robust veterinary infrastructure, with numerous advanced animal healthcare facilities and a high level of pet ownership drives the demand for innovative AI solutions in the country.

   

• Further, the U.S. is a global leader in technological innovation, fostering a conducive environment for the development and integration of AI technologies in veterinary practices.

   

• Additionally, significant investments in research and development by both private and public sectors have accelerated the adoption of AI tools for diagnostics, treatment planning, and monitoring of animal health, thereby driving the market growth.

   

UK is anticipated to witness robust growth in the global market.

• The strong presence of advanced veterinary research institutions and universities in the country, facilitates innovative AI applications in animal health.

   

• Additionally, UK government’s support through funding and favorable policies promotes the adoption of AI technologies in veterinary practices.

   

• Further, the increasing demand for precision animal healthcare, driven by the livestock and pet industries, boosts the market growth.

   

China artificial intelligence (AI) in animal health market is anticipated to witness lucrative growth between 2024 – 2032.

• Chinese government's significant investments in AI technology and veterinary health infrastructure are creating a conducive environment for the adoption of advanced AI solutions in animal healthcare.

   

• Furthermore, China's robust technological ecosystem, characterized by a strong presence of AI startups and collaborations between tech giants and research institutions, is accelerating the development and deployment of innovative AI applications in the veterinary field, further accelerating the market growth.