Animal Drugs Market Analysis

Animal Drugs Market Analysis

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.
 

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.
 

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.