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Spring 2024 | M&A Report In The Animal Health Industry Sector

By Alexander Petersen

May 30, 2024

The report below gives a good overview of the Spring 2024 M&A activity in the Animal Health Industry Sector. The animal health sector continues to represent an indispensable segment of the U.S. economy. Participants foster healthier animals, deeper human-pet bonds, and increased productivity. In 2023, robust demand for premium pet products and advanced veterinary services drove the category to a record $147.1 billion (U.S, all pet categories). This category was up 7.5% compared to last year and had an 11% CAGR from 2019 (source: APPA) further fueled by a wave of new pet acquisitions during Covid. According to Michigan State University, the pet industry had an overall economic contribution in 2023 of $303 billion, an increase of 16% from 2022. The industry has been proven to be incredibly recession resilient. According to the Animal Health Institute, the US animal health pharmaceutical market is a significant part of the pharma industry, making up about $9.9 billion, around 2% of the total pharmaceutical market. The humanization of pets, where animals are increasingly considered family members, continues to be one of the most powerful drivers of growth.

Posted by Alexander Petersen.

Read the Entire Spring 2024 Animal Health Report Here