Australia Veterinary Healthcare Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 9.75 % |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Australia Veterinary Healthcare Market Analysis
The Australia veterinary healthcare market is expected to reach a CAGR of 9.75% over the forecast period (2022-2027).
The Australia veterinary healthcare industry has been impacted by the effect of coronavirus, especially on the livestock segment. An unprecedented rise in pet ownership across the country has been seen post-COVID-19. There has been an increasing focus on veterinary telemedicine in the country, which is likely to have a positive impact on the market. According to the article titled ' impact of the COVID-19 pandemic on the welfare of animals in Australia' published in January 2021 some organizations, including Animal Health Australia (AHA), the Australian Veterinary Association (AVA) and the Royal Society for the Prevention of Cruelty to Animals (RSPCA) Australia, contacted the Australian Federal Department of Agriculture, water and Environemnt to request that veterinarians can be classified as an essential services. The Australian Veterinary Association (AVA) also re-affirmed that veterinarians could conduct telemedicine consulattaions in teh context of the COVID-19 pandemicm that will lead to increased veterinary teleconsultations and telepharmacy during the pandemic, thereby lead to increased adoption of tele veterinary services, driving the market growth.
The Australia veterinary healthcare market is projected to lead by advancements in health technology, leading to innovations in animal healthcare and increasing animal adoption in Australia, coupled with animal health spending. According to the Animal Medicine Australia 2021 Survey published in October 2021, Australian households own an estimated total of 6.3 million dogs and 4.9 million cats in the country. The high adoption of pets in Australian households eventually lead to increased adoption of veterinary healthcare services in Australia, thereby driving market growth.
Furthermore, a rise in collaborations between key market players and investments in veterinary health is also expected to drive the growth of this market. For instance, in November 2021, Merck Sharp & Dohme Corp (MSD) Animal Health, a division of Merck & Co., Inc., joined VetDB as an investor. In VetDB's third round of seed funding, MSD Animal Health joins the company's previous investors. VetDB's continuous growth and nationwide dissemination of its revolutionary medical technology will be aided by this financing. The rising investments by companies in the development of veterinary health technology are therefore expected to contribute to the market growth over the forecast period.
Therefore, the rising adoption of pets and the rise in investments in technological advancements in veterinary health, among other are expected to drive the growth of this market. However, there is a shift in the trend toward the use of counterfeit medicines for animal health, which is usually cheap, of low quality, and produced without adequate testing. These act as restraints for the market's growth.
Australia Veterinary Healthcare Market Trends
This section covers the major market trends shaping the Australia Veterinary Healthcare Market according to our research experts:
Vaccines Segment Holds a Major Share in the Market
The vaccine segment holds a major share in the Australia veterinary healthcare market. The veterinary vaccines segment in Australia is expected to be driven by innovations in vaccines, rising vaccine launches, growing awareness of animal health, increasing investments by government bodies and associations, and increased demand for animal protein, including milk, meat, eggs, and fish, and increased expenditure on the healthcare of companion animals.
According to news published in January 2022, Australian veterinarians are encouraging government agencies to vaccinate the country's pets against a global pandemic using a Russian-developed animal vaccine. Dr. Sam Kovac of Southern Cross Vets in Sydney is yet to receive clearance from the Australian Pesticides and Veterinary Medicines Authority for the vaccination of Pets in Australia. The rise in such initiatives will drive the growth of the vaccine segment in this market.
Furthermore, in April 2020, the University of Adelaide, an Australian university, was awarded an AUD 390,000 (USD 252,000) Linkage Grant by the Australian Research Council to improve the effectiveness of a Salmonella Typhimurium vaccine in poultry. Such steady developments help boost this market segment and the overall market over the forecast period.
In addition, in December 2021, Australian life science company, QBiotics, launched STELFONTA its lead veterinary pharmaceutical in Australia, which is approved by the Australian Pesticides and Veterinary Medicines Authority (APVMA) for the treatment of canine non-metastatic mast cell tumors (MCT)
Therefore, owing to the above factors, the vaccine segment is expected to drive the Australia veterinary healthcare market during the forecast period.
Australia Veterinary Healthcare Industry Overview
The Australia veterinary healthcare market is majorly dominated by a few players. However, there are a few companies that are currently penetrating the market and are expected to hold substantial market shares. The major players are Zoetis Animal Healthcare, Merck Animal Health, Ceva Animal Health Inc., Virbac Corporation, among others.
Australia Veterinary Healthcare Market Leaders
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Zoetis Inc
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Vetoquinol SA
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Elanco
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Merck Co. Inc.
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Boehringer Ingelheim
*Disclaimer: Major Players sorted in no particular order
Australia Veterinary Healthcare Market News
- In August 2021, Zoetis Inc. entered an agreement to buy Jurox, a privately held Australian animal health firm that develops, manufactures, and markets veterinary pharmaceuticals for companion animals and livestock. This provides future growth potential, manufacturing capacity, and expanded skills in the Australian animal health market.
- In March 2021, Arrotex Pharmaceuticals and Zoetis, a pharmaceutical business, have teamed up to market the pet-care brand's Revolution and Simparica, which will be sold by Sigma Wholesale.
Australia Veterinary Healthcare Market Report - Table of Contents
1. INTRODUCTION
- 1.1 Study Assumptions and Market Definition
- 1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
- 4.1 Market Overview
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4.2 Market Drivers
- 4.2.1 Increase In Animal Adoption Coupled with Increasing Awareness about Animal Healthcare
- 4.2.2 Advanced Technology in Animal Healthcare
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4.3 Market Restraints
- 4.3.1 Use of Counterfeit Medicines
- 4.3.2 Increasing Costs of Animal Testing and Veterinary Care
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4.4 Porter's Five Forces Analysis
- 4.4.1 Threat of New Entrants
- 4.4.2 Bargaining Power of Buyers/Consumers
- 4.4.3 Bargaining Power of Suppliers
- 4.4.4 Threat of Substitute Products
- 4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION (Market Size - by Value)
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5.1 By Product
- 5.1.1 Therapeutics
- 5.1.1.1 Vaccines
- 5.1.1.2 Parasiticides
- 5.1.1.3 Anti-infectives
- 5.1.1.4 Medical Feed Additives
- 5.1.1.5 Other Therapeutics
- 5.1.2 Diagnostics
- 5.1.2.1 Immunodiagnostic Tests
- 5.1.2.2 Molecular Diagnostics
- 5.1.2.3 Diagnostic Imaging
- 5.1.2.4 Clinical Chemistry
- 5.1.2.5 Other Diagnostics
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5.2 By Animal Type
- 5.2.1 Dogs and Cats
- 5.2.2 Horses
- 5.2.3 Ruminants
- 5.2.4 Swine
- 5.2.5 Poultry
- 5.2.6 Other Animal Types
6. COMPETITIVE LANDSCAPE
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6.1 Company Profiles
- 6.1.1 Boehringer Ingelheim
- 6.1.2 Elanco
- 6.1.3 Merck Co. Inc.
- 6.1.4 Vetoquinol SA
- 6.1.5 Virbac
- 6.1.6 Zoetis Inc.
- 6.1.7 Chemvet Australia Pty Ltd
- 6.1.8 Jurox Pty Ltd
- 6.1.9 Idexx Laboratories
- 6.1.10 Abbey Animal Health Pty Ltd
- 6.1.11 QBiotics Group Limited
- 6.1.12 Ceva Animal Health Pty Ltd
- 6.1.13 Luoda Pharma Pty Ltd
- 6.1.14 Sypharma Pty Ltd
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
** Subject To AvailablityAustralia Veterinary Healthcare Industry Segmentation
As per the scope of this report, the Australia veterinary healthcare market is growing, and it comprises therapeutic and diagnostic products and solutions for companion and farm animals. Companion animals can be tamed or adopted for companionship or as house/office guards, and farm animals are raised for meat and milk-related products. Companion animals include canines, felines, and equines. Farm animals include bovine, poultry, and porcine. The Australia Veterinary Healthcare Market is segmented on The Basis of Product (Therapeutics And Diagnostics) and Animal Type (Dogs And Cats, Horses, Ruminants, Swine, Poultry, and Other Animals). The report offers the value (in USD million) for the above segments.
| By Product | Therapeutics | Vaccines |
| Parasiticides | ||
| Anti-infectives | ||
| Medical Feed Additives | ||
| Other Therapeutics | ||
| By Product | Diagnostics | Immunodiagnostic Tests |
| Molecular Diagnostics | ||
| Diagnostic Imaging | ||
| Clinical Chemistry | ||
| Other Diagnostics | ||
| By Animal Type | Dogs and Cats | |
| Horses | ||
| Ruminants | ||
| Swine | ||
| Poultry | ||
| Other Animal Types |
Australia Veterinary Healthcare Market Research FAQs
What is the current Australia Veterinary Healthcare Market size?
The Australia Veterinary Healthcare Market is projected to register a CAGR of 9.75% during the forecast period (2024-2029)
Who are the key players in Australia Veterinary Healthcare Market?
Zoetis Inc, Vetoquinol SA, Elanco, Merck Co. Inc. and Boehringer Ingelheim are the major companies operating in the Australia Veterinary Healthcare Market.
What years does this Australia Veterinary Healthcare Market cover?
The report covers the Australia Veterinary Healthcare Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Australia Veterinary Healthcare Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Australia Veterinary Industry Report
Statistics for the 2024 Australia Veterinary market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Australia Veterinary analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
