APAC Veterinary Healthcare Market

APAC Veterinary Healthcare Market Size (2022 to 2027)

The Veterinary Healthcare Market size in the Asia Pacific has been forecasted at USD 6.73 billion as of 2022. It is further estimated to be a USD 12.19 billion market by 2027, growing at a tremendous CAGR of 12.6% from 2022 to 2027.

Veterinary medicines help in diagnosing, treating, and preventing diseases in animals. Veterinary medicine covers a wide range of animal species, which includes both domestic and wild. With the increased production of livestock animals, there is a significant growth in the animal healthcare market. The stable economy and rising population, especially in developing countries, have increased the demand for protein-rich foods.

Growing awareness about animal health, fewer hurdles for the approval of drugs relating to animal health, and increasing love towards pets are the primary contributing factors for veterinary healthcare growth. The rising number of foodborne diseases has also helped in the growth of the market.

However, factors like increasing regulation on antibodies and rising costs of animal testing are restraining the market's growth.

This research report on the Asia Pacific Veterinary Healthcare Market has been segmented and sub-segmented into the following categories:

By Animal Type:

• Livestock Animals
• Companion Animals

By Product: 

• Pharmaceuticals
• Feed Additives

By Country: 

• India
• China
• Japan
• South Korea
• Australia
• New Zealand
• Thailand
• Malaysia
• Vietnam
• Philippines
• Indonesia
• Singapore
• Rest of APAC

Regionally, Veterinary Healthcare Market in the Asia Pacific was growing aggressively and is predicted to reach new growth heights in the near future. Among different Asia Pacific nations, the Indian Veterinary Healthcare Market is expected to perform well, and analysts at Market Data Forecast forecasted that the Indian market would display a CAGR of 6.4% between 2020 to 2025.

The Australian Veterinary Healthcare market is the fastest growing country in this regional market and is expected to witness a CAGR of 10.9% during the forecast period. The Australian market is majorly driven by factors such as increasing innovations in veterinary healthcare, growing animal health expenditure, and technological advancements.

The China Veterinary Healthcare Market is another lucrative region in this regional market and is predicted to grow at a CAGR of 6.03% during the forecast period. Y-O-Y growth in the incidence of zoonotic diseases and increasing consumption of meat in this country are majorly accelerating market growth.

The Japan Veterinary Healthcare market is very similar to the Chinese market and is expected to register a CAGR of 6.01% from 2020 to 2025. Acceleration in the R&D pertaining to the vet health domain and the growing prevalence of zoonotic diseases in Japan is expected to fuel the market growth.

Leading companies in the APAC Veterinary Healthcare Market profiled in this report are Merck & Co., Inc., Bayer AG, Boehringer Ingelheim GmbH, Cargill, Inc., Ceva Santé Animale, Novasep, Eli Lilly and Company, Koninklijke DSM N.V, Novartis AG, Nutreco N.V., Sanofi S.A., SeQuent Scientific Ltd., Virbac S.A., Vétoquinol S.A., and Zoetis Inc.