Global Companion Animal Pharmaceuticals Market Size by Product (Drugs, Vaccines, Medicated Feed Additives), By Animal Type (Cats, Horses), By Distribution Channel (Retail Pharmacy, E-commerce), By Geographic Scope and Forecast
Report ID: 144897|No. of Pages: 202
Global Companion Animal Pharmaceuticals Market Size by Product (Drugs, Vaccines, Medicated Feed Additives), By Animal Type (Cats, Horses), By Distribution Channel (Retail Pharmacy, E-commerce), By Geographic Scope and Forecast
Companion Animal Pharmaceuticals Market Size and Forecast
Companion Animal Pharmaceuticals Market size was valued at USD 21.43 Billion in 2023 and is projected to reach USD 41.50 Billion by 2031 growing at a CAGR of 9.9% from 2024 to 2031.
- Companion animal medicines are treatments developed specifically for pets such as dogs, cats, and small mammals. These medications treat common health problems include infections, arthritis, and heart disease. They include antibiotics, pain relievers, and immunizations, all of which attempt to improve pets’ quality of life.
- Their applications include treating, preventing, and controlling a variety of medical issues in pets. These medications help pet owners keep their animals healthy by providing effective therapies similar to those used in human healthcare. Parasite control, antibiotics, and hormone therapies are all routinely used.
- Future breakthroughs in biotechnology and customized medicine are projected to have an impact on this market. Genetic research may allow for the development of personalized drugs, which would improve therapy effectiveness. Furthermore, rising pet ownership is projected to drive up need for innovative pharmacological solutions.
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Global Companion Animal Pharmaceuticals Market Dynamics
The key market dynamics that are shaping the global companion animal pharmaceuticals market include:
Key Market Drivers:
- Increasing Pet Ownership and Humanization of Pets: Pet ownership and humanization are driving demand for companion animal medications. According to the American Pet Products Association (APPA), 70% of homes in the United States own pets, which benefits the pharmaceutical industry.
- Increasing Incidence of Zoonotic Diseases:The increasing prevalence of zoonotic diseases highlights the need for effective companion animal medications. According to the World Health Organization (WHO), animals cause 60% of infectious diseases in humans, increasing the necessity for preventive medicines.
- Developments in Veterinary Medicine: Developments in veterinary medicine and increasing R&D investments: Innovations in veterinary care, as well as increasing R&D spending, enhance pet treatment alternatives. According to the Animal Health Institute (AHI), the sector invests 8-10% of its yearly sales in research and development.
Key Challenges:
- High R&D Costs: Creating novel medications for companion animals necessitates a substantial investment in research and development. R&D costs can be too expensive for businesses, stifling innovation and preventing market penetration.
- Market Fragmentation and Competitiveness: The companion animal medications market is fragmented, with many companies and fierce competition. Smaller businesses may struggle to compete with larger corporations that have more resources and market presence.
- Regulatory Hurdles: The companion animal pharmaceuticals market is subject to rigorous regulatory processes, which delay the approval and launch of novel treatments. Each country has its own regulatory authority, and navigating the many criteria may be time-consuming and expensive for pharmaceutical businesses, stifling innovation and market access.
- High Development Costs: Developing novel drugs for companion animals incurs enormous research and testing costs. Companies face significant financial difficulties due to clinical trials, safety reviews, and production costs. This can result in limited availability of innovative therapies and increasing prices, reducing accessibility for pet owners.
- Lack of Awareness: Many pet owners, particularly in underdeveloped countries, are unaware of the necessity of preventive care and medications for their dogs. This leads to underutilization of effective therapies, contributing to the spread of preventable diseases, hindering the growth of the companion animal pharmaceuticals market.
Key Trends:
- Increasing Focus on Preventive Care: Preventive care is becoming more important in the market, with vaccines and dietary supplements leading the way. This trend is fueled by pet owners’ desire to prevent reactionary treatments and instead manage their pets’ health proactively.
- Growth in Specialty Pharmaceuticals: There is an increasing need for specialty drugs that treat specific ailments such as cancer and arthritis in pets. The demand for these innovative treatments is growing as more pet owners seek specialized care for chronic and severe conditions.
- Integration Of Digital Health Solutions: The use of digital health technologies like telemedicine and health monitoring applications is increasing. These technologies provide remote consultations and continuous health tracking, which improves the efficacy of companion animal medications.
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Global Companion Animal Pharmaceuticals Market Regional Analysis
Here is a more detailed regional analysis of the global companion animal pharmaceuticals market:
North America:
- According to Verified Market Research, North America is expected to dominate the global companion animal pharmaceuticals market.
- North America is predicted to dominate the global companion animal medicines market due to the rise in chronic diseases in pets. According to Banfield Pet Hospital, obesity is a major concern, with 51% of dogs and 44% of cats overweight or obese in 2018. This developing issue increases the demand for long-term treatments such as diabetes and cardiovascular therapy.
- Diabetes cases in dogs increasing by 79.7% between 2006 and 2015, while cats experienced an 18.1% increase. In addition, 10% of dogs and 3% of cats suffer from heart disease, and one in every four dogs develops cancer. These numbers underline the importance of modern pharmaceutical options for properly managing chronic illnesses.
Asia Pacific:
- According to Verified Market Research, Asia Pacific is fastest growing region in global companion animal pharmaceuticals market.
- Growing understanding of zoonotic illnesses in the Asia Pacific region has resulted in a greater emphasis on preventative treatment for pets. According to the World Health Organization (WHO), more than 60% of human illnesses are zoonotic, and 75% of new infectious diseases originate in animals. This is resulted in increasing vaccination rates and use of anti-parasitic drugs.
- For example, a study published in Parasites & Vectors found that in Japan, awareness of tick-borne diseases in dogs increasing from 68.8% in 2009 to 93.0% in 2019, resulting in a greater consumption of tick preventive products. This tendency reflects an increasing concern for both animal and human health.
Global Companion Animal Pharmaceuticals Market: Segmentation Analysis
The Global Companion Animal Pharmaceuticals Market is segmented based Product, Animal Type, Distribution Channel, and Geography.
Companion Animal Pharmaceuticals Market, By Product
- Drugs
- Antiparasitic
- Anti-Inflammatory
- Anti-Infectives
- Corticosteroids
- Tranquilizers
- Cardiovascular Drugs
- Gastrointestinal Drugs
- Vaccines
- Modified Live Vaccines (MLV)
- Killed Inactivated Vaccines
- Recombinant Vaccines
- Medicated feed additives
- Antibiotics
- Vitamins
- Amino acids
- Enzymes
- Antioxidants
- Prebiotics and probiotics
- Minerals
- Carbohydrates
- Propandiol
Based on Product, the Global Companion Animal Pharmaceuticals Market is separated into Drugs, Vaccines and Medicated Feed Additives. Drugs dominate the global companion animal pharmaceuticals market, with antiparasitic, anti-inflammatory and anti-infective drugs being the most often used. The rising prevalence of chronic diseases in companion animals, as well as the necessity for long-term therapies, are driving up demand for pharmaceutical medications over vaccines and medicated feed additives.
Companion Animal Pharmaceuticals Market, By Animal Type
- Dogs
- Cats
- Horses
Based on Animal Type, Global Companion Animal Pharmaceuticals Market is divided into Dogs, Cats, Horses. Dogs lead the worldwide companion animal medications industry due to widespread ownership and increasing healthcare costs. Treatments for obesity, arthritis and heart disease are driving pharmaceutical demand in dogs.
Companion Animal Pharmaceuticals Market, By Distribution Channel
- Veterinary Hospital Pharmacy
- Retail Pharmacy
- E-Commerce
Based on Distribution Channel, Global Companion Animal Pharmaceuticals Market is divided into Veterinary Hospital Pharmacy, Retail Pharmacy, and E-commerce. The veterinary hospital pharmacy sector dominates the worldwide companion animal medicines market because pet owners frequently rely on veterinarians for prescriptions and treatments, which ensures trust and accessibility to specialist pet healthcare.
Companion Animal Pharmaceuticals Market, By Geography
- North America
- Europe
- Asia Pacific
- Rest of the World
Based on the Geography, the Global Companion Animal Pharmaceuticals Market divided into North America, Europe, Asia Pacific and Rest of the World. North America dominates the worldwide companion animal medications market due to its high pet ownership rates and modern healthcare infrastructure. Asia Pacific is the fastest-growing region, driven by increasing urbanization, rising disposable incomes and a growing emphasis on pet health, indicating rapid market expansion in this region.
Key Players
The Global Companion Animal Pharmaceuticals Market study report will provide valuable insight with an emphasis on the global market. The major players in the market are Agrolabo S.p.A., Boehringer Ingelheim International GmbH, Ceva Santé Animale, Chanelle Pharma, Dechra Pharmaceuticals PLC, Elanco Animal Health Incorporated, Endovac Animal Health, HIPRA, Indian Immunologicals Ltd., Merck & Co., Inc., Norbrook, Symrise, Vetoquinol.
Our market analysis also entails a section solely dedicated to such major players wherein our analysts provide an insight into the financial statements of all the major players, along with product benchmarking and SWOT analysis. The competitive landscape section also includes key development strategies, market share and market ranking analysis of the above-mentioned players globally.
Global Companion Animal Pharmaceuticals Market Recent Developments
- In April 2024, Boehringer Ingelheim launched NexGard SPECTRA for dogs in India. NexGard SPECTRA is a chewable product intended for dogs. The initiative capitalizes on India’s growing pet ownership trend as well as expanding awareness of pet health and wellness. This strategy is expected to increase the value of the company’s business portfolio.
- In January 2024, Ceva Sante Animale purchased Scout Bio, a biotechnology business that specializes in cutting-edge pet medicines such as monoclonal antibodies and gene therapy. This strategic acquisition is intended to strengthen Ceva’s inventive capabilities while also providing access to major breakthroughs in pet treatments.
Report Scope
| REPORT ATTRIBUTES | DETAILS |
|---|---|
| STUDY PERIOD | 2020-2030 |
| BASE YEAR | 2023 |
| FORECAST PERIOD | 2024-2030 |
| HISTORICAL PERIOD | 2020-2022 |
| UNIT | Value (USD Billion) |
| KEY COMPANIES PROFILED | Agrolabo S.p.A., Boehringer Ingelheim International GmbH, Ceva Santé Animale, Chanelle Pharma, Dechra Pharmaceuticals PLC, Elanco Animal Health Incorporated, Endovac Animal Health, HIPRA, Indian Immunologicals Ltd., Merck & Co., Inc., Norbrook, Symrise, Vetoquinol. |
| SEGMENTS COVERED | By Product, By Animal Type, By Distribution Channel, and By Geography. |
| CUSTOMIZATION SCOPE | Free report customization (equivalent to up to 4 analyst’s working days) with purchase. Addition or alteration to country, regional & segment scope. |
Research Methodology of Verified Market Research:
To know more about the Research Methodology and other aspects of the research study, kindly get in touch with our sales team at Verified Market Research.
Reasons to Purchase this Report:
• Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors
• Provision of market value (USD Billion) data for each segment and sub-segment
• Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market
• Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region
• Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions and acquisitions in the past five years of companies profiled
• Extensive company profiles comprising of company overview, company insights, product benchmarking and SWOT analysis for the major market players
• The current as well as the future market outlook of the industry with respect to recent developments (which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions
• Includes an in-depth analysis of the market of various perspectives through Porter’s five forces analysis
• Provides insight into the market through Value Chain
• Market dynamics scenario, along with growth opportunities of the market in the years to come
• 6-month post-sales analyst support
Customization of the Report
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Frequently Asked Questions
1 INTRODUCTION OF GLOBAL COMPANION ANIMAL PHARMACEUTICALS MARKET
1.1 Overview of the Market
1.2 Scope of Report
1.3 Assumptions
2 RESEARCH METHODOLOGY OF VERIFIED MARKET RESEARCH
2.1 Data mining
2.2 Secondary research
2.3 Primary research
2.4 Subject matter expert advice
2.5 Quality check
2.6 Final review
2.7 Data Triangulation
2.8 Bottom-up approach
2.9 Top-down approach
2.10 Research flow
2.11 Data sources
3 EXECUTIVE SUMMARY
3.1 Overview
3.2 Absolute $ Opportunity
3.3 Market attractiveness
3.4 Future Market Opportunities
4 GLOBAL COMPANION ANIMAL PHARMACEUTICALS MARKET OUTLOOK
4.1 Overview
4.2 Market Dynamics
4.2.1 Drivers
4.2.2 Restraints
4.2.3 Opportunities
4.3 Porters Five Force Model
4.4 Value Chain Analysis
5 GLOBAL COMPANION ANIMAL PHARMACEUTICALS MARKET, BY PRODUCT
5.1 Overview
5.2 Drugs
5.2.1 Antiparasitic
5.2.2 Anti-Inflammatory
5.2.3 Anti-Infectives
5.2.4 Corticosteroids
5.2.5 Tranquilizers
5.2.6 Cardiovascular Drugs
5.2.7 Gastrointestinal Drugs
5.3 Vaccines
5.3.1 Modified Live Vaccines (MLV)
5.3.2 Killed Inactivated Vaccines
5.3.3 Recombinant Vaccines
5.4 Medicated feed additives
5.4.1 Antibiotics
5.4.2 Vitamins
5.4.3 Amino acids
5.4.4 Enzymes
5.4.5 Antioxidants
5.4.6 Prebiotics and probiotics
5.4.7 Minerals
5.4.8 Carbohydrates
5.4.9 Propandiol
6 GLOBAL COMPANION ANIMAL PHARMACEUTICALS MARKET, BY ANIMAL TYPE
6.1 Overview
6.2 Dogs
6.3 Cats
6.4 Horses
7 GLOBAL COMPANION ANIMAL PHARMACEUTICALS MARKET, BY DISTRIBUTION CHANNEL
7.1 Overview
7.2 Veterinary Hospital Pharmacy
7.3 Retail Pharmacy
7.4 E-Commerce
8 GLOBAL COMPANION ANIMAL PHARMACEUTICALS MARKET, BY GEOGRAPHY
8.1 Overview
8.2 North America
8.2.1 U.S.
8.2.2 Canada
8.2.3 Mexico
8.3 Europe
8.3.1 Germany
8.3.2 U.K.
8.3.3 France
8.3.4 Rest of Europe
8.4 Asia Pacific
8.4.1 China
8.4.2 Japan
8.4.3 India
8.4.4 Rest of Asia Pacific
8.5 Rest of the World
8.5.1 Latin America
8.5.2 Middle East and Africa
9 GLOBAL COMPANION ANIMAL PHARMACEUTICALS MARKET COMPETITIVE LANDSCAPE
9.1 Overview
9.2 Company Market Ranking
9.3 Key Development Strategies
9.4 Company Regional Footprint
9.5 Company Industry Footprint
9.6 ACE Matrix
10 COMPANY PROFILES
10.1 Agrolabo S.p.A.
10.1.1 Company Overview
10.1.2 Company Insights
10.1.3 Business Breakdown
10.1.4 Product Benchmarking
10.1.5 Key Developments
10.1.6 Winning Imperatives
10.1.7 Current Focus & Strategies
10.1.8 Threat from Competition
10.1.9 SWOT Analysis
10.2 Boehringer Ingelheim International GmbH
10.2.1 Company Overview
10.2.2 Company Insights
10.2.3 Business Breakdown
10.2.4 Product Benchmarking
10.2.5 Key Developments
10.2.6 Winning Imperatives
10.2.7 Current Focus & Strategies
10.2.8 Threat from Competition
10.2.9 SWOT Analysis
10.3 Ceva Santé Animale
10.3.1 Company Overview
10.3.2 Company Insights
10.3.3 Business Breakdown
10.3.4 Product Benchmarking
10.3.5 Key Developments
10.3.6 Winning Imperatives
10.3.7 Current Focus & Strategies
10.3.8 Threat from Competition
10.3.9 SWOT Analysis
10.4 Chanelle Pharma
10.4.1 Company Overview
10.4.2 Company Insights
10.4.3 Business Breakdown
10.4.4 Product Benchmarking
10.4.5 Key Developments
10.4.6 Winning Imperatives
10.4.7 Current Focus & Strategies
10.4.8 Threat from Competition
10.4.9 SWOT Analysis
10.5 Dechra Pharmaceuticals PLC
10.5.1 Company Overview
10.5.2 Company Insights
10.5.3 Business Breakdown
10.5.4 Product Benchmarking
10.5.5 Key Developments
10.5.6 Winning Imperatives
10.5.7 Current Focus & Strategies
10.5.8 Threat from Competition
10.5.9 SWOT Analysis
10.6 Elanco Animal Health Incorporated
10.6.1 Company Overview
10.6.2 Company Insights
10.6.3 Business Breakdown
10.6.4 Product Benchmarking
10.6.5 Key Developments
10.6.6 Winning Imperatives
10.6.7 Current Focus & Strategies
10.6.8 Threat from Competition
10.6.9 SWOT Analysis
10.7 Endovac Animal Health
10.7.1 Company Overview
10.7.2 Company Insights
10.7.3 Business Breakdown
10.7.4 Product Benchmarking
10.7.5 Key Developments
10.7.6 Winning Imperatives
10.7.7 Current Focus & Strategies
10.7.8 Threat from Competition
10.7.9 SWOT Analysis
10.8 HIPRA
10.8.1 Company Overview
10.8.2 Company Insights
10.8.3 Business Breakdown
10.8.4 Product Benchmarking
10.8.5 Key Developments
10.8.6 Winning Imperatives
10.8.7 Current Focus & Strategies
10.8.8 Threat from Competition
10.8.9 SWOT Analysis
10.9 Indian Immunologicals Ltd.
10.9.1 Company Overview
10.9.2 Company Insights
10.9.3 Business Breakdown
10.9.4 Product Benchmarking
10.9.5 Key Developments
10.9.6 Winning Imperatives
10.9.7 Current Focus & Strategies
10.9.8 Threat from Competition
10.9.9 SWOT Analysis
10.10 Merck & Co., Inc.
10.10.1 Company Overview
10.10.2 Company Insights
10.10.3 Business Breakdown
10.10.4 Product Benchmarking
10.10.5 Key Developments
10.10.6 Winning Imperatives
10.10.7 Current Focus & Strategies
10.10.8 Threat from Competition
10.10.9 SWOT Analysis
11 KEY DEVELOPMENTS
11.1 Product Launches/Developments
11.2 Mergers and Acquisitions
11.3 Business Expansions
11.4 Partnerships and Collaborations
12 APPENDIX
12.1 Related Research
Report Research Methodology
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Data Collection Matrix
| Perspective | Primary Research | Secondary Research |
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Econometrics and data visualization model
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- Established market players
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The aims of doing primary research are:
- Verifying the collected data in terms of accuracy and reliability.
- To understand the ongoing market trends and to foresee the future market growth patterns.
Industry Analysis Matrix
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