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.
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.
$30 billion market
The animal medicines and vaccines sector is estimated to represent a global market of $30 billion according to Vetnosis, a research and consulting firm specializing in global animal health and veterinary medicine.