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Companion Animal Medicine Market Size is valued at USD 22.2 billion in 2024 and is predicted to reach USD 54.5 billion by the year 2034 at a 9.5% CAGR during the forecast period for 2025-2034.
Key Industry Insights & Findings from the Report:
The incidence of dental diseases detected in dogs in the U.K. was 14.10%, and the prevalence of skin illnesses was 12.6%, according to a 2021 article in the BMC Veterinary Research Journal. Market expansion is being fueled by rising veterinary visits and the uptake of pet insurance. For instance, the pet insurance provider Trupanion reported that as of June 2022, there were 1.3 million pet insurance enrollees. In the second quarter of 2021, it experienced a 32% growth.
The COVID-19 epidemic had a significant effect on the market. Low demand, supply chain interruptions, difficulties with research efforts, and decreased sales were only a few negative repercussions. For instance, working capital constraints and a decline in demand caused Elanco's revenue to fall by 10.0% in the first quarter of 2020.
The pandemic had a negative impact on Merck's animal health division's revenue in Q2 2020 of USD 100 million. Despite the COVID-19 outbreak, some businesses reported positive financial results or no change. For example, Calier announced that its companion animal section had a successful year. The company even introduced Dynacan Spot-On, an external parasiticide for dogs, cats, and ferrets. The line-up of veterinary medications and non-medical items from Vetoquinol helped boost sales in 2020. Yet with a faster growth rate in 2021, the use of e-commerce sales channels and remote assistance platforms has allowed the sector to realise its full potential.
The Companion Animal Medicine market is segmented by animal type, product, distribution channel, and indication. The market is segmented as dogs, cats, and horses based on animal type. By the product, the market is segmented into Biologics (Vaccines (Attenuated Live Vaccines, Inactivated Vaccines, Recombinant Vaccines, Toxoid, Others)), Pharmaceuticals (Parasiticides, Anti-infectives, Anti-inflammatory, Analgesics, Others) and Medicated Feed Additives. By distribution channel, the market is segmented into Retail, E-commerce, Hospital Pharmacy. By indication, the market is segmented into Infectious Diseases, Dermatologic Diseases, Pain, Orthopedic Diseases, Behavioral Diseases, Other Indications.
Dogs dominated the market and made up the most significant portion of sales. On the other hand, the cat market is predicted to grow at a profitable CAGR over the next few years. This is because dogs and cats are very popular as pets, canine and feline diseases are becoming more common, and many medications are available for animals.
The pharmaceuticals segment led the market regarding products and accounted for over the total revenue. This is because many medications for companion animals are available and because there is a growing market for parasiticides and other products to treat common illnesses in animals. For instance, the Companion Animal Parasite Council (CAPC) reports that in 2022, there will be a significant increase in Lyme disease, heartworm infections, anaplasmosis, and ehrlichiosis among pets in the United States.
The majority of the revenue came from North America. This was brought about by activities from both the public and private sectors, pet insurance's growing popularity, and important businesses' existence. According to the NAPHIA (North American Pet Health Insurance Association, Inc.) American Pet Health Insurance Association, by the end of 2021, 3.45 million pets in the United States and Canada were covered by insurance.
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Report Attribute |
Specifications |
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Market size value in 2024 |
USD 22.2 Bn |
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Revenue forecast in 2034 |
USD 54.5Bn |
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Growth rate CAGR |
CAGR of 9.5% from 2025 to 2034 |
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Quantitative units |
Representation of revenue in US$ Billion, and CAGR from 2025 to 2034 |
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Historic Year |
2021 to 2024 |
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Forecast Year |
2025-2034 |
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Report coverage |
The forecast of revenue, the position of the company, the competitive market statistics, growth prospects, and trends |
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Segments covered |
Animal Type, Product, Distribution Channel, And Indication |
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Regional scope |
North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
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Country scope |
U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico; The UK; France; Italy; Spain; South Korea; Southeast Asia |
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Competitive Landscape |
Merck & Co., Inc.; Ceva; Vetoquinol S.A.; Zoetis; Boehringer Ingelheim International GmbH; Elanco; Virbac; Bimeda, Inc.; Norbrook; Calier. |
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Customization scope |
Free customization report with the procurement of the report, Modifications to the regional and segment scope. Particular Geographic competitive landscape. |
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Pricing and available payment methods |
Explore pricing alternatives that are customized to your particular study requirements. |
Chapter 1. Methodology and Scope
1.1. Research Methodology
1.2. Research Scope & Assumptions
Chapter 2. Executive Summary
Chapter 3. Global Companion Animal Medicine Market Snapshot
Chapter 4. Global Companion Animal Medicine Market Variables, Trends & Scope
4.1. Market Segmentation & Scope
4.2. Drivers
4.3. Challenges
4.4. Trends
4.5. Investment and Funding Analysis
4.6. Industry Analysis – Porter’s Five Forces Analysis
4.7. Competitive Landscape & Market Share Analysis
4.8. Impact of Covid-19 Analysis
Chapter 5. Market Segmentation 1: by Animal Type Estimates & Trend Analysis
5.1. by Animal Type & Market Share, 2024 & 2034
5.2. Market Size (Value (US$ Mn)) & Forecasts and Trend Analyses, 2021 to 2034 for the following by Animal Type:
5.2.1. Dogs
5.2.2. Cats
5.2.3. Horses
5.2.4. Others
Chapter 6. Market Segmentation 2: by Product Estimates & Trend Analysis
6.1. by Product & Market Share, 2024 & 2034
6.2. Market Size (Value (US$ Mn)) & Forecasts and Trend Analyses, 2021 to 2034 for the following by Product:
6.2.1. Biologics
6.2.1.1. Vaccines
6.2.1.1.1. Attenuated Live Vaccines
6.2.1.1.2. Inactivated Vaccines
6.2.1.1.3. Recombinant Vaccines
6.2.1.1.4. Toxoid
6.2.1.1.5. Others
6.2.2. Pharmaceuticals
6.2.2.1. Parasiticides
6.2.2.2. Anti-infectives
6.2.2.3. Anti-inflammatory
6.2.2.4. Analgesics
6.2.2.5. Others
6.2.3. Medicated Feed Additives
Chapter 7. Market Segmentation 3: by Indication Estimates & Trend Analysis
7.1. by Indication & Market Share, 2024 & 2034
7.2. Market Size (Value (US$ Mn)) & Forecasts and Trend Analyses, 2021 to 2034 for the following by Indication:
7.2.1. Infectious Diseases
7.2.2. Dermatologic Diseases
7.2.3. Pain
7.2.4. Orthopedic Diseases
7.2.5. Behavioral Diseases
7.2.6. Other Indications
Chapter 8. Market Segmentation 4: by Distribution Channel Estimates & Trend Analysis
8.1. by Distribution Channel & Market Share, 2024 & 2034
8.2. Market Size (Value (US$ Mn)) & Forecasts and Trend Analyses, 2021 to 2034 for the following by Distribution Channel:
8.2.1. Retail
8.2.2. E-commerce
8.2.3. Hospital Pharmacy
Chapter 9. Companion Animal Medicine Market Segmentation 5: Regional Estimates & Trend Analysis
9.1. North America
9.1.1. North America Companion Animal Medicine Market Revenue (US$ Million) Estimates and Forecasts by Animal Type, 2021-2034
9.1.2. North America Companion Animal Medicine Market Revenue (US$ Million) Estimates and Forecasts by Product, 2021-2034
9.1.3. North America Companion Animal Medicine Market Revenue (US$ Million) Estimates and Forecasts by Indication, 2021-2034
9.1.4. North America Companion Animal Medicine Market Revenue (US$ Million) Estimates and Forecasts by Distribution Channel, 2021-2034
9.1.5. North America Companion Animal Medicine Market Revenue (US$ Million) Estimates and Forecasts by country, 2021-2034
9.2. Europe
9.2.1. Europe Companion Animal Medicine Market Revenue (US$ Million) Estimates and Forecasts by Animal Type, 2021-2034
9.2.2. Europe Companion Animal Medicine Market Revenue (US$ Million) Estimates and Forecasts by Product, 2021-2034
9.2.3. Europe Companion Animal Medicine Market Revenue (US$ Million) Estimates and Forecasts by Indication, 2021-2034
9.2.4. Europe Companion Animal Medicine Market Revenue (US$ Million) Estimates and Forecasts by Distribution Channel, 2021-2034
9.2.5. Europe Companion Animal Medicine Market Revenue (US$ Million) Estimates and Forecasts by country, 2021-2034
9.3. Asia Pacific
9.3.1. Asia Pacific Companion Animal Medicine Market Revenue (US$ Million) Estimates and Forecasts by Animal Type, 2021-2034
9.3.2. Asia Pacific Companion Animal Medicine Market Revenue (US$ Million) Estimates and Forecasts by Product, 2021-2034
9.3.3. Asia-Pacific Companion Animal Medicine Market Revenue (US$ Million) Estimates and Forecasts by Indication, 2021-2034
9.3.4. Asia-Pacific Companion Animal Medicine Market Revenue (US$ Million) Estimates and Forecasts by Distribution Channel, 2021-2034
9.3.5. Asia Pacific Companion Animal Medicine Market Revenue (US$ Million) Estimates and Forecasts by country, 2021-2034
9.4. Latin America
9.4.1. Latin America Companion Animal Medicine Market Revenue (US$ Million) Estimates and Forecasts by Animal Type, 2021-2034
9.4.2. Latin America Companion Animal Medicine Market Revenue (US$ Million) Estimates and Forecasts by Product, 2021-2034
9.4.3. Latin America Companion Animal Medicine Market Revenue (US$ Million) Estimates and Forecasts by Indication, 2021-2034
9.4.4. Latin America Companion Animal Medicine Market Revenue (US$ Million) Estimates and Forecasts by Distribution Channel, 2021-2034
9.4.5. Latin America Companion Animal Medicine Market Revenue (US$ Million) Estimates and Forecasts by country, 2021-2034
9.5. Middle East & Africa
9.5.1. Middle East & Africa Companion Animal Medicine Market Revenue (US$ Million) Estimates and Forecasts by Animal Type, 2021-2034
9.5.2. Middle East & Africa Companion Animal Medicine Market Revenue (US$ Million) Estimates and Forecasts by Product, 2021-2034
9.5.3. Middle East & Africa Companion Animal Medicine Market Revenue (US$ Million) Estimates and Forecasts by Indication, 2021-2034
9.5.4. Middle East & Africa Companion Animal Medicine Market Revenue (US$ Million) Estimates and Forecasts by Distribution Channel, 2021-2034
9.5.5. Middle East & Africa Companion Animal Medicine Market Revenue (US$ Million) Estimates and Forecasts by country, 2021-2034
Chapter 10. Competitive Landscape
10.1. Major Mergers and Acquisitions/Strategic Alliances
10.2. Company Profiles
10.2.1. Ashish Life Sciences Pvt Ltd (India)
10.2.2. Bimeda, Inc.
10.2.3. Biogénesis Bagó (US)
10.2.4. Boehringer Ingelheim International GmbH.
10.2.5. Brilliant Bio Pharma (India)
10.2.6. Calier
10.2.7. Ceva Sante Animale (France)
10.2.8. Chanelle Pharma (Ireland)
10.2.9. Dechra Pharmaceuticals PLC (UK)
10.2.10. Eco Animal Health Group Plc. (UK)
10.2.11. Elanco Animal Health Incorporated (US)
10.2.12. Endovac Animal Health (US)
10.2.13. HIPRA (Spain)
10.2.14. Indian Immunologicals Ltd (India)
10.2.15. Intas Pharmaceuticals (India)
10.2.16. Kyoritsu Seiyaku (Japan)
10.2.17. Lutim Pharma Pvt Ltd (India)
10.2.18. Merck & Co., Inc.
10.2.19. Neogen Corporation (US)
10.2.20. Norbrook Holdings Limited (UK)
10.2.21. Orion Group (Finland)
10.2.22. Tianjin Ringpu Bio-Technology Co Ltd. (China)
10.2.23. Vetindia Pharmaceuticals limited (India)
10.2.24. Vetoquinol S.A.;
10.2.25. Virbac
10.2.26. Zenex Animal Health India Private Limited (India)
10.2.27. Zoetis, Inc. (US)
10.2.28. Other Prominent Players
Companion Animal Medicine Market By Animal Type-
Companion Animal Medicine Market By Product-
Companion Animal Medicine Market By Indication-
Companion Animal Medicine Market By Distribution Channel-
Companion Animal Medicine Market By Region-
North America-
Europe-
Asia-Pacific-
Latin America-
Middle East & Africa-
InsightAce Analytic follows a standard and comprehensive market research methodology focused on offering the most accurate and precise market insights. The methods followed for all our market research studies include three significant steps – primary research, secondary research, and data modeling and analysis - to derive the current market size and forecast it over the forecast period. In this study, these three steps were used iteratively to generate valid data points (minimum deviation), which were cross-validated through multiple approaches mentioned below in the data modeling section.
Through secondary research methods, information on the market under study, its peer, and the parent market was collected. This information was then entered into data models. The resulted data points and insights were then validated by primary participants.
Based on additional insights from these primary participants, more directional efforts were put into doing secondary research and optimize data models. This process was repeated till all data models used in the study produced similar results (with minimum deviation). This way, this iterative process was able to generate the most accurate market numbers and qualitative insights.
Secondary research
The secondary research sources that are typically mentioned to include, but are not limited to:
The paid sources for secondary research like Factiva, OneSource, Hoovers, and Statista
Primary Research:
Primary research involves telephonic interviews, e-mail interactions, as well as face-to-face interviews for each market, category, segment, and subsegment across geographies
The contributors who typically take part in such a course include, but are not limited to:
Data Modeling and Analysis:
In the iterative process (mentioned above), data models received inputs from primary as well as secondary sources. But analysts working on these models were the key. They used their extensive knowledge and experience about industry and topic to make changes and fine-tuning these models as per the product/service under study.
The standard data models used while studying this market were the top-down and bottom-up approaches and the company shares analysis model. However, other methods were also used along with these – which were specific to the industry and product/service under study.
To know more about the research methodology used for this study, kindly contact us/click here.
