U.S. Animal Healthcare Market Size, Share, Analysis, Trends, Growth, Forecasts, 2032

U.S. Animal Healthcare Industry Prospective:

The U.S. animal healthcare market size was evaluated at $5.8 billion in 2023 and is slated to hit $11.4 billion by the end of 2032 with a CAGR of nearly 10.4% between 2024 and 2032.

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U.S. Animal Healthcare Market: Overview

Animal healthcare is a key domain that includes the prevention, diagnosis, and treatment of ailments and injuries in animals. It also encompasses a slew of practices such as routine check-ups, special animal healthcare, and regular vaccinations of animals & pets. Key fields of animal healthcare include livestock health, veterinary medicine, zoological medicine, and animal husbandry.

Key Insights

• As per the analysis shared by our research analyst, the U.S. animal healthcare market is projected to expand annually at the annual growth rate of around 10.4% over the forecast timespan (2024-2032)
• In terms of revenue, the U.S. animal healthcare market size was evaluated at nearly $5.8 billion in 2023 and is expected to reach $11.4 billion by 2032.
• The global U.S. animal healthcare market is anticipated to grow rapidly over the forecast timeline owing to an increase in the ownership of pets along with growing urbanization.
• In terms of animal type, the dog segment is slated to register the highest CAGR over the forecast period.
• Based on product, the pharmaceuticals segment is predicted to dominate the segmental growth in the upcoming years.
• On the basis of end-use, the veterinary hospitals & clinics segment is anticipated to make huge contributions toward the U.S. market share over the forecast period.
• Region-wise, the Northeast animal healthcare industry in the U.S. is projected to register the fastest CAGR during the projected timespan.

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U.S. Animal Healthcare Market: Growth Factors

Surge in the number of pet lovers in the U.S. to drive the U.S. market growth over forecast period

An increase in the ownership of pets with growing urbanization is projected to drive the expansion of the U.S. animal healthcare market in the coming years. Treating pets as a family will embellish the growth of the U.S. market in the ensuing years. Furthermore, the need for special care for pets suffering from oncology & heart problems has extended the scope of the market growth in the U.S. An increase in the insurance of pet animals and enactment of pet animal welfare regulations with government support will drive the market trends in the U.S.

U.S. Animal Healthcare Market: Restraints

Escalating consulting costs of animal doctors can shrink the growth of the industry in the U.S.

Surging consultation charges for veterinarians along with the low availability of the best healthcare facilities for livestock and pet animals in some of the U.S. states can retrogress the growth of the U.S. animal healthcare industry. Furthermore, the rise in the costs of preparing animal health products can cut short the growth of the industry in the U.S.

U.S. Animal Healthcare Market: Opportunities

Growing animal health awareness among pet owners will open a new path of market growth

Access to new diagnostic systems such as genetic testing and advanced imaging systems is predicted to improve disease diagnosis & treatment, thereby helping the U.S. animal healthcare market explore new avenues of growth in the coming decade. Moreover, a rise in the consciousness among pet owners & pet lovers about animal health has brought a massive change in the attitude in American society regarding pet care. This, in turn, is likely to help the U.S. market growth hit scalable heights within the next couple of years.

U.S. Animal Healthcare Market: Challenges

Stringent regulations enforced by the U.S. state authorities regarding the overuse of antibiotics for pet treatment can retrograde the industry growth

Strict laws imposed by the U.S. FDA on the use of antibiotics for treating animals can challenge the expansion of the U.S. animal healthcare industry. Apart from this, an increase in the resistance to antimicrobial medicines of pets can deter the industry space in the coming years.

U.S. Animal Healthcare Market: Segmentation

The U.S. animal healthcare market is divided into animal type, product, end-use, and region.                                          

In terms of animal type, the U.S. animal healthcare market is bifurcated into dog, equine, and cat segments. Additionally, the dog segment, which garnered 40% of the market size in 2023, is projected to register the fastest rate of growth yearly during the time interval from 2024 to 2032. The main factor driving the segmental growth is a surge in dog adoption as a pet in various states of the U.S. Reportedly, dogs are prone to suffer from cancer and stress as well as heart ailments, and these factors can help the segment in accounting massively toward the market growth in the U.S. 

On the basis of product, the U.S. animal healthcare industry is sectored into vaccines, OTC, diagnostics, prescription, pharmaceuticals, and feed additives segments. In addition, the pharmaceuticals segment, which accrued about 55% of the industry share in 2023, is set to lead the segmental surge in the U.S. in the forecasting years. The segmental progress can be due to the large-scale application of pharmaceutical drugs in the treatment of zoonotic & food-related diseases occurring in animals.

Based on end-use, the U.S. animal healthcare market is divided into point-of-care testing/in-house testing and veterinary hospitals & clinics segments. Furthermore, the veterinary hospitals & clinics segment, which accrued a major share of the market in the U.S. in 2023, is likely to continue to dominate the U.S. market growth in the coming decade. The growth of the segment can be attributed to the availability of pet insurance at lesser costs and access to diagnostic tools along with high-quality pet care at veterinary hospitals & clinics. 

U.S. Animal Healthcare Market: Report Scope

U.S. Animal Healthcare Market: Regional Insights

Midwest region of the U.S. is slated to lead the market surge over 2024-2032

The Midwest region, which accrued 45% of the U.S. animal healthcare market share in 2023, is set to maintain its dominating position in the U.S. market in the upcoming years. In addition to this, the regional market expansion in the forecast timeline can be attributed to an increase in livestock production along with rising awareness about animal health in the region. Favorable government policies and a surge in investments in disease management, vaccinations, preventive care, and routine animal health check-ups can prop up the market growth in the Midwest of the U.S.

The Northeast animal healthcare industry in the U.S. is predicted to record the highest rate of expansion annually within the next few years. The growth of the industry in the Northeastern part of the U.S. can be due to the huge spending of pet owners on pet healthcare along with an increment in the proportion of pet ownership. Moreover, there are various animals in this part of the U.S., including exotic pets, companion animals, and livestock, who are prone to various diseases. Furthermore, easy access to veterinarians and animal healthcare medicines in the region will drive the industry surge in the Northeastern part of the U.S.

U.S. Animal Healthcare Market: Competitive Space

The U.S. animal healthcare market profiles key players such as:

• Vetoquinol S.A.
• Virbac
• Zoetis
• Elanco
• Dechra Pharmaceuticals Plc
• Ceva Santé Animale
• Merck & Co. Inc.
• Boehringer Ingelheim Gmbh
• Idexx Laboratories Inc.
• Norbrook Inc.
• Heska.,

The U.S. animal healthcare market is segmented as follows:

By Animal Type

• Dog
• Equine
•  Cat

By Product

• Vaccines
• OTC
• Diagnostics
• Prescription
• Pharmaceuticals
• Feed Additives

By End-Use

• Point-of-Care Testing/In-House Testing
• Veterinary Hospitals & Clinics

By Region

The U.S.

• Northeast
• Midwest
• South
• West