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Animal Health Market

The animal health industry, which includes the manufacturing and commercialization of veterinary medical products for both production animals and companion animals (pets), is a growing global economic sector. The global animal health sector grew 18% in 2021.

The Brazilian market is expected to continue growing at a faster rate than the global market: from 2019 to 2024, it recorded a compound annual growth rate (CAGR) of 12.9%, reaching a value of R$ 10.5 billion in 2024, according to SINDAN.

 

The production-animal segment is subdivided into ruminants (beef cattle, dairy cattle, sheep, and goats), horses, poultry, and swine. The production levels and quality within this market segment are critical to meeting the increasing global demand, driven by the growth of the world population and rising living standards, particularly in emerging markets.

In this context of improvement and growth supported by factors already mentioned, such as the low level of technological adoption on farms the use of technologies on properties is linked not only to curative treatments but increasingly to preventive therapies. Producers seeking higher productivity indicators adopt prophylactic management through herd vaccination.

Combining products with services is a market trend, and Ourofino embraces this approach by offering the best animal health solutions, contributing to high performance throughout the protein production chain. In summary, all investment in technology must be accompanied by investment in workforce training—another market opportunity. The Technical Consulting team, among other functions, provides training to livestock producers, delivers lectures to store staff, conducts field days, performs assisted product application, and monitors results. This team generates demand for the Company's products among end users and is also responsible for identifying needs and opportunities in the field, presenting solutions, and implementing health protocols and calendars.

 

 

In 2024, the companion-animal segment in Brazil accounted for approximately 27.6% of the total animal health market, with revenues around 2.9 billion reais. According to SINDAN data, the animal health market for the pet segment in Brazil grew from 2019 to 2024 at a CAGR of 12.9%, which can be explained by the following factors:

 

the emergence of new family profiles, with fewer children per couple or even single-person households;

the increase in life expectancy for both people and pets;

the humanization of pets, leading people to treat them as family members and allocate part of their budgets to their animals.

the verticalization of large urban centers, which requires greater care for domestic animals; and

the launch of new prevention and treatment technologies.

 

Our compound annual growth rate in the companion-animal segment for the period from 2019 to 2024 was 12.1%, resulting in a market share of 5.4%.

Revenue from Animal Health for Dogs and Cats (in Millions) and Ourofino’s Market Share

 

 

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