The market for animal healthcare is anticipated to reach a value of US$ 40.9 billion in 2023 and US$ 62.3 billion by 2033. During the projection period, animal healthcare sales are anticipated to increase significantly at a CAGR of 4.3%.

The global animal healthcare market was estimated to be valued at US$ 42.3 Billion in 2021. The market is likely to grow at a CAGR of 4.3% through 2027, reaching US$ 54.5 Billion by 2027.

Along with animal health care, the rapid expansion of the animal feed additive market has also been witnessed with an expected compound annual growth rate (CAGR) of 4.6% through 2027, surpassing a valuation of around US$ 25.3 Billion, whereas, the production of animal segment, by animal type, is expected to grow at 4.7% CAGR, reaching around US$ 35 Billion by 2027.

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Market Segmentation

Based on Product Type:

• Feed Additives
• Pharmaceuticals
• Vaccines

Based on Animal Type:

• Production Animals
• Companion Animals