The Companion Animal Pharmaceuticals Global Market Report 2023 by The Business Research Company, provides companion animal pharmaceuticals market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten-year historic period – 2010-2021, and a ten-year forecast period – 2023-2032.
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According to The Business Research Company’s Companion Animal Pharmaceuticals Global Market Report 2023, the global companion animal pharmaceuticals market size is expected to grow from $13.94 billion in 2022 to $15.12 billion in 2023 at a compound annual growth rate (CAGR) of 8.5%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of global companion animal pharmaceuticals is expected to reach $20.77 billion in 2027 at a CAGR of 8.3%.
The growing prevalence of zoonotic diseases is expected to propel the growth of the companion animal pharmaceuticals market going forward. A zoonotic illness is a disease that can be naturally transferred from vertebrate animals to humans or from people to vertebrate animals. The pharmaceutical industry is embracing modern tactics and strategies that are consistent with one set of health principles in order to combat zoonotic illnesses and lower the likelihood of transmission.
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The companion animal pharmaceuticals market is segmented:
1) By Animal Type: Dogs, Cats, Horses, Other Companion Animals
2) By Indication: Infectious Diseases, Dermatologic Diseases, Pain, Orthopedic Diseases, Behavioral Diseases, Other Indications
3) By Distribution Channels: Veterinary Hospitals, Veterinary Clinics, Retail Pharmacies
Embracing big data technologies is a key trend gaining popularity in the companion animal pharmaceuticals. Major companies operating in the companion animal pharmaceuticals market are focused on developing new technological solutions to strengthen their position. For Instance, in April 2022, Elanco Animal Health Incorporated, a US-based company operating in companion animal pharmaceuticals, and Ginkgo Bioworks, a US-based company operating in companion animal pharmaceuticals launched BiomEdit, a microbiome innovation company for creating innovation in animal health. This will provide novel probiotics and other related animal pharmaceuticals for animal health innovation, such as medicated feed ingredients, nutritional health and therapies for livestock and pet animals, and biosecurity technologies for animal illness monitoring.
The companion animal pharmaceuticals market report table of contents includes:
1. Executive Summary
2. Companion Animal Pharmaceuticals Characteristics
3. Companion Animal Pharmaceuticals Trends And Strategies
4. Companion Animal Pharmaceuticals – Macro Economic Scenario
5. Companion Animal Pharmaceuticals Size And Growth
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27. Companion Animal Pharmaceuticals Competitive Landscape And Company Profiles
28. Microbiome Pipeline Analysis
29. Key Mergers And Acquisitions In The Companion Animal Pharmaceuticals
30. Companion Animal Pharmaceuticals Future Outlook and Potential Analysis
31. Appendix
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