Broadly defined, the animal health industry includes all products and services, other than livestock feed and pet food, that promote livestock productivity and health and companion animal health. These products and services include medicines and vaccines, diagnostics, medical devices, pet supplies, nutritional supplements, veterinary and other related services.
Animal health is closely connected to human health. A wholesome and sustainable supply of protein from milk, eggs, and meat begins with healthy farm animals. Moreover, approximately 70 percent of the diseases known to affect humans are “zoonotic,” which means they can be transmitted between animals and humans.
$22 billion market
The animal medicines and vaccines sector is estimated to represent a global market of $22 billion within the approximately $92 - 102 billion animal health industry. Between 2011 and 2016, the animal medicines and vaccines sector is projected to grow at a compound annual growth rate of 5.7 percent per year, according to Vetnosis, a research and consulting firm specializing in global animal health and veterinary medicine.
At the intersection of two growing sectors
Animal health sits at the intersection of two large and growing industry sectors: pet care and livestock production. These three sectors are interrelated. As livestock production and the rate of pet ownership both continue to increase in response to rising demand and increased standard of living, animal health medicines and vaccines will also be needed in greater volumes.
Growth driven by two megatrends
Rapid population growth, matched by increasing per capita income in emerging markets, is driving two important megatrends, which, in large measure, drive Zoetis’ growth strategy:
Increased demand for animal protein, including milk, meat, eggs and fish, challenged by limited new farmland and water, requiring that we produce more food with less resources. Learn more at Farm Animal Health.
- Increased companion animal ownership and spending on medicines to help pets live longer, healthier lives. Learn more at Companion Animal Health.