( MENAFN - GetNews) "Global Animal health market Report"The animal health market is driven by the growing number of pet owners and their desire for high-quality veterinary care, the rising awareness towards zoonotic diseases, and various technological advancements across the globe. Animal Health industry Research Report Market Summary: The global animal health market size reached USD 37.8 Billion in 2023 .
The market is expected to expand from USD 39.3 Billion in 2024 to USD 49.5 Billion by 2032 , with a growth rate (CAGR) of 2.
9% over the forecast period (2024-2032). North America leads the market, accounting for the largest animal health market share. Commercial animals dominated the animal type segment as livestock health is crucial for maintaining productivity in dairy and meat industries.
Pharmaceuticals represented the largest product type given the widespread use of vaccines and antibiotics to prevent and treat diseases in both pets and livestock. The growing focus on preventive health measures and disease control in livestock is a primary driver of the animal health market. Technological advancements such as telemedicine and wearable health devices are improving veterinary care and treatment options, reshaping the animal health market.
As indicated in the latest market research report published by IMARC Group, titled“ Animal Health Market Report by Animal Type (Commercial, Companion), Product Type (Pharmaceuticals, Biologicals, Medicinal Feed Additives, Diagnostics).
