Animal Health is a Growing Segment of the Life Sciences Industry - Are You Covered?

According to Polaris Market Research*, the size of the worldwide animal health market is projected to increase from $60.7B in 2023 to over $149B by 2032, a 10.5% compound annual growth rate (CAGR). North America accounted for more than 40% of the market in 2023, but over the course of the projected period (2019-2032), the Asia Pacific region is predicted to grow at a faster rate. Companies are increasing their investments in R&D across all types of animal health companies, from livestock to the growing companion animal industry.

Medmarc has a long standing and robust book of insured animal health companies, writing manufacturers and distributors of medical devices, diagnostics, drugs and nutritional products. Our insureds range in size from emerging growth companies to multinational organizations. The sales of our primary insureds have grown 45% since 2020 to over $11B today. Insurance is available on either a primary or excess basis, and some companies are eligible for primary occurrence form coverage.

*(Feb-2024) Polaris Market Research, Market Research Report, https://www.polarismarketresearch.com/industry-analysis/animal-health-market