Product Code: GVR-2-68038-260-0
Companion Animal Health Market Growth & Trends
The global companion animal health market size is expected to reach USD 42.4 billion by 2030, registering a CAGR of 9.1% over the forecast period, according to a new report by Grand View Research, Inc. The market is driven by rising research and development programs, growing numbers of government initiatives, increasing adoption of pets, and high volumes of veterinary surgeries & prevalence of chronic diseases in companion animals.The veterinary healthcare sector has experienced many challenges during the COVID-19 pandemic.Veterinarians could still work despite the shutdown. According to a survey of more than 3,000 pet owners in the U.S., UK, France, and Brazil, more than a quarter of pet owners have put off or avoided contacting their veterinarians since the pandemic started due to the fear of disease transmission.
Moreover, the majority of owners (65 percent) concur that the pandemic had no negative effects on access to medications and procedures.An increase in pet ownership is one of the major factors driving the market. Approximately 70% of households (90.5 million homes) in the U.S. have a pet, with dogs and cats being the most common breeds, according to the American Veterinary Medical Association. The market is also being driven by rising demand for pet medicine as more individuals own pets. The market for companion animal medication is also being driven by an increase in the demand for high-quality veterinarian care. Veterinary research and development activities have steadily increased during the last decade. There were numerous innovations in the fields of surgery and specialized medications for use in pets. To establish themselves as market leaders, major players are strategically integrating novel technologies.
For instance, in January 2022, the FDA approved Zoetis' first monoclonal antibody treatment for osteoarthritis, Solensia, which is intended to reduce pain in cats with the condition. Similar to this, the company has released Librela, a monoclonal antibody to lessen canine arthritic pain.In recent years, pet disease prevalence has increased in countries like France, which has increased the demand for pet treatment. Obesity, dental issues, skin allergies, osteoarthritis, and viral diseases are the most typical pet illnesses in France. The need for medications and preventive care to keep pets healthy and happy is highlighted by the rising prevalence of pet ailments in France. In addition, it is projected that the rising pharmaceutical and vaccine demand will further boost the market. The presence of government agencies that ensure the safety of veterinary pharmaceuticals, such as the French Agency for Veterinary Medicinal Products (ANMV), contributes to the growth of the market.
Companion Animal Health Market Report Highlights
- By product, the pharmaceuticals segment held a dominant share of over 44.0% in 2022. The introduction of medications to aid in extending animal lifespan has been accelerated by a notable rise in pet ownership
- The dogs segment dominated the market with a share of over 40.0% in 2022 as a result of rising pet healthcare costs, particularly in developed regions
- By distribution channel, the hospital pharmacies segment held the largest share of over 47% in 2022.The global availability of veterinary clinics and hospital services has increased due to the rising pet adoption rate
- The hospitals & clinics end-use segment held a dominant share of over 80% in 2022. This is due to an expansion of veterinary hospitals and clinics with innovative infrastructure around the world. Another aspect influencing the segment growth is a rise in the number of veterinarians
- North America held a 35.98% share of the overall market in 2022
Table of Contents
Chapter 1. Methodology and Scope
- 1.1. Market Segmentation and Scope
- 1.2. Research Methodology
- 1.3. Information Procurement
- 1.4. Information or Data Analysis
- 1.5. Market Formulation & Validation
- 1.6. Model Details
- 1.7. List of Data Sources
Chapter 2. Executive Summary
- 2.1. Market Outlook
- 2.2. Segment Outlook
- 2.3. Competitive Insights
Chapter 3. Companion Animal Health Market Variables, Trends, & Scope
- 3.1. Market Lineage Outlook
- 3.1.1. Parent Market Outlook
- 3.1.2. Ancillary Market Outlook
- 3.2. Market Dynamics
- 3.2.1. Market Driver Analysis
- 3.2.1.1. Growing companion ownership
- 3.2.1.2. Increasing number of government initiatives
- 3.2.1.3. Increasing prevalence of zoonotic diseases
- 3.2.1.4. Technological advancements
- 3.2.2. Market Restraint Analysis
- 3.2.2.1. Increase in the number of counterfeit Drugs
- 3.2.2.2. High pet care cost
- 3.2.3. Market Opportunity Analysis
- 3.2.4. Market Challenge Analysis
- 3.3. Companion Animal Health Market Analysis Tools
- 3.3.1. Industry Analysis - Porter's
- 3.3.1.1. Bargaining power of suppliers
- 3.3.1.2. Bargaining power of buyers
- 3.3.1.3. Threat of substitutes
- 3.3.1.4. Threat of new entrants
- 3.3.1.5. Competitive rivalry
- 3.3.2. PESTEL Analysis
- 3.3.2.1. Political & Legal landscape
- 3.3.2.2. Economic and Social landscape
- 3.3.2.3. Technological landscape
- 3.3.3. Pricing Analysis
- 3.3.4. Estimated Companion Animal Population, by key countries, 2018 to 2022
- 3.3.5. COVID-19 Impact Analysis
Chapter 4. Companion Animal Health Market: Product Estimates & Trend Analysis
- 4.1. Segment Dashboard
- 4.2. Companion Animal Health Market: Product Movement Analysis & Market Share, 2022 & 2030
- 4.3. Vaccines
- 4.3.1. Vaccines Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
- 4.4. Pharmaceuticals
- 4.4.1. Pharmaceuticals Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
- 4.4.2. OTC
- 4.4.2.1. OTC Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
- 4.4.3. Prescription
- 4.4.3.1. Prescription Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
- 4.5. Feed Additives
- 4.5.1. Feed Additives Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
- 4.6. Diagnostics
- 4.6.1. Diagnostics Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
- 4.7. Others
- 4.7.1. Others Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
Chapter 5. Companion Animal Health Market: Animal Type Estimates & Trend Analysis
- 5.1. Segment Dashboard
- 5.2. Companion Animal Health Market: Animal Type Movement Analysis & Market Share, 2022 & 2030
- 5.3. Dogs
- 5.3.1. Dogs Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
- 5.4. Cats
- 5.4.1. Cats Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
- 5.5. Equine
- 5.5.1. Equine Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
- 5.6. Others
- 5.6.1. Others Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
Chapter 6. Companion Animal Health Market: Distribution Channel Estimates & Trend Analysis
- 6.1. Segment Dashboard
- 6.2. Companion Animal Health Market: Distribution Channel Movement Analysis & Market Share, 2022 & 2030
- 6.3. Retail
- 6.3.1. Retail Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
- 6.4. E-Commerce
- 6.4.1. E-Commerce Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
- 6.5. Hospital Pharmacies
- 6.5.1. Hospital Pharmacies Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
Chapter 7. Companion Animal Health Market: End-Use Estimates & Trend Analysis
- 7.1. Segment Dashboard
- 7.2. Companion Animal Health Market: End-use Movement Analysis & Market Share, 2022 & 2030
- 7.3. Point-of-care/In-house Testing
- 7.3.1. Point-of-care/In-house testing Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
- 7.4. Hospitals & Clinics
- 7.4.1. Hospitals & clinics Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
- 7.5. Others
- 7.5.1. Others Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
Chapter 8. Companion Animal Health Market: Regional Estimates & Trend Analysis
- 8.1. Regional Outlook
- 8.2. Companion Animal Health Market: Regional Movement Analysis & Market Share, 2022 & 2030
- 8.3. North America
- 8.3.1. North America Companion Animal Health Market Estimates And Forecasts, 2018 - 2030 (USD Million)
- 8.3.2. U.S.
- 8.3.2.1. Key Country Dynamics
- 8.3.2.2. Regulatory Framework
- 8.3.2.3. U.S. Companion Animal Health Market Estimates And Forecasts, 2018 - 2030 (USD Million)
- 8.3.3. Canada
- 8.3.3.1. Key Country Dynamics
- 8.3.3.2. Regulatory Framework
- 8.3.3.3. Canada Companion Animal Health Market Estimates And Forecasts, 2018 - 2030 (USD Million)
- 8.4. Europe
- 8.4.1. Europe Companion Animal Health Market Estimates And Forecasts, 2018 - 2030 (USD Million)
- 8.4.2. UK
- 8.4.2.1. Key Country Dynamics
- 8.4.2.2. Regulatory Framework
- 8.4.2.3. UK Companion Animal Health Market Estimates And Forecasts, 2018 - 2030 (USD Million)
- 8.4.3. Germany
- 8.4.3.1. Key Country Dynamics
- 8.4.3.2. Regulatory Framework
- 8.4.3.3. Germany Companion Animal Health Market Estimates And Forecasts, 2018 - 2030 (USD Million)
- 8.4.4. France
- 8.4.4.1. Key Country Dynamics
- 8.4.4.2. Regulatory Framework
- 8.4.4.3. France Companion Animal Health Market Estimates And Forecasts, 2018 - 2030 (USD Million)
- 8.4.5. Italy
- 8.4.5.1. Key Country Dynamics
- 8.4.5.2. Regulatory Framework
- 8.4.5.3. Italy Companion Animal Health Market Estimates And Forecasts, 2018 - 2030 (USD Million)
- 8.4.6. Spain
- 8.4.6.1. Key Country Dynamics
- 8.4.6.2. Regulatory Framework
- 8.4.6.3. Spain Companion Animal Health Market Estimates And Forecasts, 2018 - 2030 (USD Million)
- 8.4.7. Russia
- 8.4.7.1. Key Country Dynamics
- 8.4.7.2. Regulatory Framework
- 8.4.7.3. Russia Companion Animal Health Market Estimates And Forecasts, 2018 - 2030 (USD Million)
- 8.4.8. Sweden
- 8.4.8.1. Key Country Dynamics
- 8.4.8.2. Regulatory Framework
- 8.4.8.3. Sweden Companion Animal Health Market Estimates And Forecasts, 2018 - 2030 (USD Million)
- 8.4.9. The Netherlands
- 8.4.9.1. Key Country Dynamics
- 8.4.9.2. Regulatory Framework
- 8.4.9.3. The Netherlands Companion Animal Health Market Estimates And Forecasts, 2018 - 2030 (USD Million)
- 8.4.10. Switzerland
- 8.4.10.1. Key Country Dynamics
- 8.4.10.2. Regulatory Framework
- 8.4.10.3. Switzerland Companion Animal Health Market Estimates And Forecasts, 2018 - 2030 (USD Million)
- 8.4.11. Ireland
- 8.4.11.1. Key Country Dynamics
- 8.4.11.2. Regulatory Framework
- 8.4.11.3. Ireland Companion Animal Health Market Estimates And Forecasts, 2018 - 2030 (USD Million)
- 8.4.12. Poland
- 8.4.12.1. Key Country Dynamics
- 8.4.12.2. Regulatory Framework
- 8.4.12.3. Poland Companion Animal Health Market Estimates And Forecasts, 2018 - 2030 (USD Million)
- 8.5. Asia Pacific
- 8.5.1. Asia Pacific Companion Animal Health Market Estimates And Forecasts, 2018 - 2030 (USD Million)
- 8.5.2. Japan
- 8.5.2.1. Key Country Dynamics
- 8.5.2.2. Regulatory Framework
- 8.5.2.3. Japan Companion Animal Health Market Estimates And Forecasts, 2018 - 2030 (USD Million)
- 8.5.3. China
- 8.5.3.1. Key Country Dynamics
- 8.5.3.2. Regulatory Framework
- 8.5.3.3. China Companion Animal Health Market Estimates And Forecasts, 2018 - 2030 (USD Million)
- 8.5.4. India
- 8.5.4.1. Key Country Dynamics
- 8.5.4.2. Regulatory Framework
- 8.5.4.3. India Companion Animal Health Market Estimates And Forecasts, 2018 - 2030 (USD Million)
- 8.5.5. South Korea
- 8.5.5.1. Key Country Dynamics
- 8.5.5.2. Regulatory Framework
- 8.5.5.3. South Korea Companion Animal Health Market Estimates And Forecasts, 2018 - 2030 (USD Million)
- 8.5.6. Australia
- 8.5.6.1. Key Country Dynamics
- 8.5.6.2. Regulatory Framework
- 8.5.6.3. Australia Companion Animal Health Market Estimates And Forecasts, 2018 - 2030 (USD Million)
- 8.5.7. Thailand
- 8.5.7.1. Key Country Dynamics
- 8.5.7.2. Regulatory Framework
- 8.5.7.3. Thailand Companion Animal Health Market Estimates And Forecasts, 2018 - 2030 (USD Million)
- 8.5.8. Singapore
- 8.5.8.1. Key Country Dynamics
- 8.5.8.2. Regulatory Framework
- 8.5.8.3. Singapore Companion Animal Health Market Estimates And Forecasts, 2018 - 2030 (USD Million)
- 8.5.9. Malaysia
- 8.5.9.1. Key Country Dynamics
- 8.5.9.2. Regulatory Framework
- 8.5.9.3. Malaysia Companion Animal Health Market Estimates And Forecasts, 2018 - 2030 (USD Million)
- 8.5.10. Indonesia
- 8.5.10.1. Key Country Dynamics
- 8.5.10.2. Regulatory Framework
- 8.5.10.3. Indonesia Companion Animal Health Market Estimates And Forecasts, 2018 - 2030 (USD Million)
- 8.5.11. Philippines
- 8.5.11.1. Key Country Dynamics
- 8.5.11.2. Regulatory Framework
- 8.5.11.3. Philippines Companion Animal Health Market Estimates And Forecasts, 2018 - 2030 (USD Million)
- 8.6. Latin America
- 8.6.1. Latin America Companion Animal Health Market Estimates And Forecasts, 2018 - 2030 (USD Million)
- 8.6.2. Brazil
- 8.6.2.1. Key Country Dynamics
- 8.6.2.2. Regulatory Framework
- 8.6.2.3. Brazil Companion Animal Health Market Estimates And Forecasts, 2018 - 2030 (USD Million)
- 8.6.3. Mexico
- 8.6.3.1. Key Country Dynamics
- 8.6.3.2. Regulatory Framework
- 8.6.3.3. Mexico Companion Animal Health Market Estimates And Forecasts, 2018 - 2030 (USD Million)
- 8.6.4. Argentina
- 8.6.4.1. Key Country Dynamics
- 8.6.4.2. Regulatory Framework
- 8.6.4.3. Argentina Companion Animal Health Market Estimates And Forecasts, 2018 - 2030 (USD Million)
- 8.7. Middle East & Africa
- 8.7.1. Middle East & Africa Companion Animal Health Market Estimates And Forecasts, 2018 - 2030 (USD Million)
- 8.7.2. South Africa
- 8.7.2.1. Key Country Dynamics
- 8.7.2.2. Regulatory Framework
- 8.7.2.3. South Africa Companion Animal Health Market Estimates And Forecasts, 2018 - 2030 (USD Million)
- 8.7.3. Saudi Arabia
- 8.7.3.1. Key Country Dynamics
- 8.7.3.2. Regulatory Framework
- 8.7.3.3. Saudi Arabia Companion Animal Health Market Estimates And Forecasts, 2018 - 2030 (USD Million)
- 8.7.4. UAE
- 8.7.4.1. Key Country Dynamics
- 8.7.4.2. Regulatory Framework
- 8.7.4.3. UAE Companion Animal Health Market Estimates And Forecasts, 2018 - 2030 (USD Million)
- 8.7.5. Turkey
- 8.7.5.1. Key Country Dynamics
- 8.7.5.2. Regulatory Framework
- 8.7.5.3. Turkey Companion Animal Health Market Estimates And Forecasts, 2018 - 2030 (USD Million)
- 8.7.6. Iran
- 8.7.6.1. Key Country Dynamics
- 8.7.6.2. Regulatory Framework
- 8.7.6.3. Iran Companion Animal Health Market Estimates And Forecasts, 2018 - 2030 (USD Million)
- 8.7.7. Israel
- 8.7.7.1. Key Country Dynamics
- 8.7.7.2. Regulatory Framework
- 8.7.7.3. Israel Companion Animal Health Market Estimates And Forecasts, 2018 - 2030 (USD Million)
Chapter 9. Competitive Landscape
- 9.1. Key Company Profiles
- 9.1.1. Participant's Overview
- 9.1.2. Product Benchmarking
- 9.1.3. Financial Performance
- 9.1.4. Strategic Initiatives
- 9.2. Participant Categorization
- 9.3. Heat Map Analysis/ Company Market Position Analysis
- 9.4. Strategy Mapping
- 9.5. List of Other Key Market Players