The global artificial intelligence (AI) in animal health market was valued at USD 0.99 billion in 2022 and it is predicted to surpass around USD 5.7 billion by 2032 with a CAGR of 19.13% from 2023 to 2032. The artificial intelligence (AI) in animal health market in the United States was accounted for USD 373.7 million in 2022.
Key Pointers
- North America led the market with the highest revenue share of 36% in 2022.
- Asia Pacific region is expected to grow at the noteworthy CAGR of 21.07% from 2023 to 2032.
- By Solutions, the hardware segment contributed the largest market share of 64% in 2022.
- By Application, the diagnostics segment captured the maximum market share of 51% in 2022.
- By Application, the others segment is expected to grow at the noteworthy CAGR of 22.05% between 2023 to 2032.
- By Animal Type, the companion animal segment generated the maximum market share of 71% in 2022.
- By Animal Type, the production animal segment is anticipated to grow at the notable CAGR of 20.04% during the forecast period
Artificial Intelligence (AI) has transcended traditional boundaries, making profound inroads into the field of animal health. This dynamic intersection of technology and veterinary care signifies a paradigm shift in the way we approach the well-being of our animal counterparts.
Market Growth
The growth of the artificial intelligence (AI) in animal health market is propelled by a confluence of factors that collectively contribute to its expanding trajectory. One key driver is the heightened demand for precise and swift diagnostics facilitated by AI algorithms. The ability of these algorithms to analyze extensive datasets enhances diagnostic accuracy, revolutionizing the approach to identifying and addressing animal health issues. Furthermore, the personalization of treatment plans, made feasible by AI, stands as a significant growth factor. Machine learning algorithms, adept at analyzing diverse data sets including breed specifics and medical histories, enable veterinarians to tailor therapeutic approaches for individual animals. The increasing adoption of predictive analytics, empowering proactive healthcare measures, is another influential factor. By foreseeing potential health issues through the analysis of trends and patterns, AI facilitates preventive interventions, thereby elevating overall animal welfare. Additionally, the market is driven by the advent of AI-powered remote monitoring solutions, allowing real-time tracking of vital signs and behavior. This innovation is particularly beneficial for both pets and livestock, enabling caregivers to respond promptly to emerging health concerns. As collaborations between technology firms, veterinary professionals, and pharmaceutical companies continue to thrive, the AI in animal health market is poised for sustained growth, underlining its pivotal role in shaping the future of veterinary care.
Get a Sample: https://www.visionresearchreports.com/report/sample/40956
Report Scope of the Artificial Intelligence (AI) In Animal Health Market
| Report Coverage | Details |
| Growth Rate from 2023 to 2032 | CAGR of 19.13% |
| Market Revenue by 2032 | USD 5.7 billion |
| Revenue Share of North America in 2022 | 36% |
| CAGR of Asia Pacific from 2023 to 2032 | 21.07% |
| Base Year | 2022 |
| Forecast Period | 2023 to 2032 |
| Market Analysis (Terms Used) | Value (US$ Million/Billion) or (Volume/Units) |
Market Dynamics
Drivers
Enhanced Diagnostics:
AI algorithms contribute significantly to improved diagnostic capabilities, rapidly analyzing extensive datasets to enhance the precision and speed of disease identification in animals.
Treatment Personalization:
The ability of AI to process and interpret vast datasets, including individual animal characteristics, enables the customization of treatment plans. This personalization optimizes therapeutic interventions and outcomes.
Restraints
Standardization Challenges:
The lack of standardized protocols and guidelines for the integration of AI in animal health poses challenges. Establishing uniform standards is essential to ensure consistency and reliability across different applications and platforms.
Limited Access to Technology:
Some veterinary practices, particularly in less developed regions, may face challenges in adopting AI due to limited access to technology, including the necessary infrastructure and resources.
Opportunities
Customized Nutrition and Care Plans:
AI’s ability to analyze vast datasets allows for the development of customized nutrition and care plans for individual animals. Tailoring recommendations based on specific needs can contribute to enhanced health outcomes.
Drug Discovery and Development:
AI accelerates drug discovery processes in veterinary medicine, presenting opportunities for the development of new treatments and therapies. This can lead to a more robust pharmaceutical pipeline for animal health.
Solutions Insights
The hardware segment dominated the market with the revenue share of 64% in 2022. The software and services segment is estimated to grow at the fastest CAGR of about 20% over the forecast period. Continuous advancements in hardware and software technologies, such as sensors, imaging devices, computer vision, deep learning, and wearables, are fueling the growth of the segments. Improved performance, miniaturization, increased processing power, and cost reductions are making these solutions more accessible to animal owners. OneCup AI, for example, offers BETSY-an automated precision ranching solution forcattle, horses, and sheep using Artificial Intelligence and Computer Vision.
The growth of the market is also attributed to factors such as increasing collaborations between software developers, technology companies, veterinary clinics, research institutions, and industry associations. These partnerships have led to the development of innovative AI solutions tailored specifically for animal health applications. In May 2023, MYANIML introduced new geolocation technology as part of its AI-enabled predictive health platform, aiming to enhance the security of the beef and dairy supply chain. The new addition enables the identification and tracking of sick animals 2 to 3 days in advance of symptoms thus facilitating early disease prediction.
Application Insights
The diagnostics segment led the market with the highest revenue share of 51% in 2022. Some of the factors contributing to this growth include the increasing integration of AI in veterinary diagnostics, the availability of AI-powered diagnostic solutions, as well as the need to improve diagnostic capabilities in animal health. IDEXX; Zoetis; SignalPET; and Vetology LLC are some of the key market players operating in AI in the veterinary diagnostics sector. SignalPET’s portfolio, for instance, includes SignalRAY, AI-based radiology test panels for common clinical findings. SignalRAY+ is an AI tool that adds history to refine clinical answers, and SignalSMILE-an AI-based dental radiology test panel for common pathologies.
The others segment is projected to grow at the highest CAGR of 22.05% during the forecast period. It includes emerging applications of AI in animal health such as drug discovery & development, precision medicine, etc. For instance, FidoCure- a One Health Company (OHC) sequences canine DNA, identifies mutations, creates a personalized DNA report, and helps veterinary practitioners prescribe targeted therapies based on AI-informed decision-making. The Personalized Prediction Profile by ImpriMed on the other hand, provides AI-based drug response predictions for canine leukemia or lymphoma using the patient’s live cancer cells, medical history, and breed.
Animal type Insights
The companion animal segment held the highest revenue share of 71% in 2022. The increasing availability of AI-based pet health solutions, growing pet expenditure, and humanization of pets are some of the key drivers contributing to the segment share. Vetology LLC for instance, is a U.S.-based company that offers Veterinary Artificial Intelligence software & services for veterinary radiology. As of 2022, the company reported generating over 154,000 AI reports with over 6.6 million images in its image bank. ImpriMed, Inc., on the other hand, provides an AI-driven drug response prediction profile for treating canine cancer.
The production animal segment is expected to grow at the notable CAGR of 20.04% during the forecast period. The global demand for animal protein, such as meat and dairy products, continues to rise due to population growth, urbanization, and changing dietary preferences. This drives the need for efficient and sustainable livestock production thus fueling the awareness and uptake of precision livestock farming solutions. AI-enabled devices and wearables can track and monitor vital signs, activity levels, and behavior of animals remotely. This helps in the early detection of health changes, ensuring timely intervention and reducing the need for frequent veterinary visits.
Regional Insights
North America dominated the market with the largest revenue share of 36% in 2022. AI algorithms can analyze radiographs, CT scans, and MRI images to assist veterinarians in diagnosing diseases and abnormalities. These algorithms can detect patterns and markers that may be difficult for humans to identify, leading to improved accuracy and faster diagnosis. The growing integration of AI in veterinary diagnostics and advanced veterinary healthcare infrastructure in the U.S. and Canada are key factors contributing to the regional share.
Asia Pacific region is anticipated to grow at the noteworthy CAGR of 21.07% from 2023 to 2032. This is due to the increasing animal population and initiatives by local market players. Alibaba Cloud’s ET Agricultural Brain, for instance, extends the company’s self-developed AI technology to agriculture. The technology uses voice recognition, visual recognition, and real-time environmental parameter tracking to monitor animal activity, pregnancy, growth indicators, and other health conditions. ET Agricultural Brain is already adopted by a number of leading pig farming enterprises in China.
Key Companies
- Zoetis Services LLC
- Merck & Co., Inc.
- Heska Corporation
- SignalPET
- VetCT
- Vetology LLC
- OneCup AI
- Petriage
- ImpriMed, Inc.
- IDEXX Laboratories, Inc.
Artificial Intelligence (AI) In Animal Health Market Report Segmentations:
By Solutions
- Hardware
- Software & Services
By Application
- Diagnostics
- Identification, Tracking, and Monitoring
- Others
By Animal Type
- Companion Animals
- Production Animals
By Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
Buy this Premium Research Report@ https://www.visionresearchreports.com/report/checkout/40956
You can place an order or ask any questions, please feel free to contact sales@visionresearchreports.com| +1 650-460-3308