What’s Driving the Animal Health Market? Top Manufacturers in 2024-2025

The global Animal Health Market is booming, fueled by rising pet ownership, increasing demand for livestock products, and growing awareness of zoonotic diseases. The market revenue is expected to reach USD 80.12 billion by 2030, with a CAGR of 7%.

But who’s leading the charge in this dynamic industry? This blog dives into the top manufacturers shaping the animal health market in 2024-2025. Let’s explore the key players, their innovations, and what’s driving their success.

Why Is the Animal Health Market Growing So Fast?

The global animal health market is booming. What’s behind this growth?

Factors include rising pet humanization, increased livestock production, and advancements in veterinary technology.

• Key Drivers:

  • Rising pet ownership and spending on companion animals.

  • Growing demand for protein-rich diets, boosting livestock health solutions.

  • Advances in diagnostics and AI-driven veterinary care.

  • Increased focus on zoonotic disease prevention.

The animal health market is expanding rapidly attributed to factors such as increasing number of pet owners in this region that are willing to spend money on animal healthcare products and services owing to their high disposable incomes. Moreover, rapid technological advancements and increasing research & development activities in the veterinary pharmaceutical industry support the market growth.

Who Are the Top Animal Health Manufacturers in 2024-2025?

The animal health industry is dominated by a few key players who leverage innovation, acquisitions, and global reach.

Zoetis: The Undisputed Leader?

Zoetis Inc., spun off from Pfizer in 2013, is the largest animal health company globally, reporting USD 8.5 billion in revenue, an increase of a steady 6% growth compared to 2022. The company focuses on vaccines, pharmaceuticals, diagnostics, and genetics for both livestock and companion animals.

Zoetis, in a recently published press release – acquired a 21-acre manufacturing facility in Melbourne, Australia, strengthening its global production capacity. This move aims to substantially amplify its current operations and enhance future capacities for vaccine development and manufacturing across various animals, including sheep, cattle, dogs, cats, and horses. Presently, Australia produces 130 million doses of vaccines annually for both companion animals and livestock.

Zoetis leads with its comprehensive portfolio and strategic expansions, solidifying its position as the market frontrunner.

Merck Animal Health: A Powerhouse in Acquisitions?

Merck & Co. brings a legacy of excellence spanning across human and animal health sectors. The company’s Animal Health division’s revenue reached USD 5.62 billion.

In February 2024, Merck announced an agreement to purchase the aqua business segment of Elanco Animal Health Incorporated for $1.3 billion. The addition of this innovative portfolio of cold water and warm water aqua products across vaccines, anti-parasitic treatments, water supplements and nutrition, establish Merck Animal Health as a leader in aqua.

Furthermore, Merck Animal Health, known as MSD Animal Health outside the United States and Canada, a division of Merck & Co., Inc., announced that the European Commission has granted marketing authorization for BRAVECTO® TriUNO, a new formulation of BRAVECTO (fluralaner) for dogs, targeting both internal and external parasites. The three-in-one chewable tablet will be available through licensed veterinarians. Regulatory agencies in Peru, Guatemala, Nicaragua, and Costa Rica have also approved the product.

Merck’s strategic acquisitions and product innovation make it a formidable player in the animal health market.

Boehringer Ingelheim: Innovating for Livestock and Pets?

Boehringer Ingelheim, based in Germany, is a prestigious pharmaceutical firm with a significant footprint in the animal vaccines market. With USD 4.7 billion in animal health revenue, it is a major player known for its vaccines and medicines for livestock, pets, and poultry. Their focus on sustainability and digital health solutions enhances their market presence.

The company’s Animal Health division was also granted approval from both the U.S. FDA and the European Commission for SENVELGO, a ground-breaking oral treatment designed for cats with diabetes. This represents a notable breakthrough in feline diabetes management, benefitting both cats and their owners. Cats diagnosed with diabetes will now have greater opportunities to enjoy more fulfilling lives than ever before.

Boehringer Ingelheim and Cognizant announce the launch of a unified cloud platform to bring innovative therapies to patients faster. Powered by the Veeva Development Cloud, the system brings together previously disparate functions to streamline the medicinal development process and enhance operational efficiencies. Boehringer's "One Medicine Platform," replaces over 20 legacy platforms. The initiative unifies medicinal development processes and data sources into a connected ecosystem, with the aim of enhancing cross-functionality and operational efficiencies.

Boehringer Ingelheim balances innovation in livestock and pet care, maintaining a strong global footprint.

Elanco Animal Health: A Focus on Pet Care?

Elanco, with a focus on both companion and livestock animals, reported significant activity. The company launched Zenrelia, a new canine dermatology treatment, approved by the FDA in September 2024. Itching is one of the top reasons pet owners bring their dog to the veterinarian, and pet owners and veterinarians want more canine dermatology options. Approximately 17 million dogs suffer from allergic skin disease, including atopic dermatitis, food allergies or flea sensitivity. Among pet owners who say their dog’s itch is not under control, 60% say they’ve tried treating the itch, but nothing works. Thus, the approval represents an important advancement in the animal health sector.

Elanco introduced a ground-breaking, multi-year initiative aimed at saving 1 million puppies from unnecessary deaths caused by the highly contagious canine parvovirus (parvo).

Elanco’s innovation in pet care and strategic shifts keep it competitive despite divestitures.

Other Notable Players?

Other key manufacturers include Ceva Animal Health (Ceva), Nutreco N.V., Dechra Pharmaceuticals, and more. These market players are adopting various strategies and planning expansion of their businesses across various regions to maintain their dominance in the market.

For instance, Ceva Animal Health (Ceva), the 5th largest global animal health company, entered into an agreement and a long-term collaboration for the development and manufacture of new dbDNA vaccines and therapeutics across a broad range of animal health indications.

What Innovations Are Shaping the Market?

The animal health market is evolving with advancements in AI, diagnostics, and precision medicine. For instance, Absci and Invetech announced a strategic partnership in January 2025 utilize Absci’s AI Drug Creation models to develop an innovative Half-Life Extension (HLE) platform for animal health applications.

Sean McClain, Founder and CEO of Absci, stated that the company has developed a leading generative AI Drug Creation platform for therapeutic antibodies and is eager to apply this expertise to animal health. He expressed enthusiasm for collaborating with Invetx to address the significant underserved animal health market by leveraging Absci’s proven success in designing Half-Life Extension technologies for human antibodies to elevate the standard of care in veterinary medicine.

The collaboration has the potential to address significant unmet needs in animal health, with initial applications for large-market indications in canines, and with the potential to expand to other companion animals.

How Do These Manufacturers Stay Competitive?

Leading manufacturers maintain their edge through strategic acquisitions, R&D investments, and global expansion. For example, on April 2024, Phibro Animal Health acquired Zoetis’ medicated feed additive portfolio. The acquisition includes a product portfolio with more than 37 product lines sold across approximately 80 countries, six manufacturing sites in the U.S., Italy and China, and a team of more than 300 employees who primarily support the manufacturing and distribution activities of the business.

• Competitive Strategies:

  • Mergers and acquisitions to expand product portfolios.

  • Heavy investment in R&D for innovative solutions.

  • Compliance with stringent FDA and global regulations.

  • Focus on sustainability and digital health integration.

Strategic moves and innovation keep these manufacturers at the forefront of the competitive landscape.

Next Steps: How to Leverage This Market Insight

The animal health market offers opportunities for stakeholders to capitalize on its growth. Here are actionable takeaways for businesses, investors, and professionals:

• Invest in Innovation: Partner with AI and biotech firms to develop cutting-edge veterinary solutions.

• Explore Acquisitions: Consider acquiring smaller firms with specialized products to expand market share.

• Focus on Companion Animals: Tap into the growing pet care segment with diagnostics and therapeutics.

• Navigate Regulations: Ensure compliance with FDA and global standards to streamline product approvals.

• Adopt Digital Tools: Integrate telemedicine and health trackers to enhance veterinary service delivery.

Final Thoughts:

The animal health market is a dynamic space led by giants like Zoetis, Merck, and Boehringer Ingelheim. Their focus on innovation, strategic acquisitions, and global expansion ensures continued dominance. By staying informed and leveraging these insights, stakeholders can thrive in this rapidly growing industry.