The Business Research Company’s report on the Companion Animal Pharmaceuticals Market provides insights into the global market size, growth rate, regional distribution, competitive landscape, key segments, emerging trends, and strategic opportunities.
What are the key drivers behind the companion animal pharmaceuticals market’s growth in recent years?
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. For instance, in December 2022, according to a report published by the European Centre for Disease Prevention and Control, a Sweden-based government agency, Campylobacteriosis remains the most prevalent zoonosis, with a notable rise in reported cases to 127,840 in 2022. Chicken and turkey meat accounted for the majority of reported Campylobacteriosis cases. Salmonella, the second most common zoonosis, infected 60,050 individuals. Following Campylobacteriosis and Salmonellosis, Yersiniosis (6,789 cases), Shigatoxin-producing E. coli infections (6,084 cases), and Listeriosis (2,183 cases) were the most frequently reported zoonotic diseases. Therefore, the growing prevalence of zoonotic diseases is driving the growth of the companion animal pharmaceuticals market.
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How does the future projection of the companion animal pharmaceuticals market size compare to its historical growth?
The companion animal pharmaceuticals market size has grown strongly in recent years. It will grow from $16.49 billion in 2024 to $17.9 billion in 2025 at a compound annual growth rate (CAGR) of 8.5%. The growth in the historic period can be attributed to humanization of pets, preventive healthcare measures, rise in pet insurance, changing lifestyle and urbanization, zoonotic disease concerns, zoonotic disease concerns, veterinary healthcare accessibility.
The companion animal pharmaceuticals market size is expected to see rapid growth in the next few years. It will grow to $26.52 billion in 2029 at a compound annual growth rate (CAGR) of 10.3%. The growth in the forecast period can be attributed to personalized medicine for pets, telehealth and remote veterinary services, focus on nutrition and nutraceuticals, one health initiatives, expansion of veterinary diagnostic services. Major trends in the forecast period include advancements in veterinary medicine, specialized therapeutics for aging pets, regulatory compliance and safety standards, collaborations and partnerships.
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Which key players are shaping the future of the companion animal pharmaceuticals market?
Major companies operating in the companion animal pharmaceuticals market are Elanco Animal Health Incorporated, Boehringer Ingelheim International GmbH, Ceva Santé Animale, Chanelle Pharma, Eco Animal Health Group PLC, Ashish Life Science Pvt. Ltd., Endovac Animal Health, Hipra Laboratories, Indian Immunologicals Ltd., Inovet Group, Kyoritsu Seiyaku Corporation, Lutim Pharma Pvt. Ltd., Merck & Co. Inc., Norbrook Laboratories Ltd., Tianjin Ringpu Bio-Technology Co. Ltd., Vetoquinol S.A., Virbac S.A., Zoetis Inc., Agrolabo S.p.A., ALS Pvt. Ltd., Zydus Animal Health and Investments Limited, Eli Lilly and Company, IDEXX Laboratories Inc., Merial Limited, Novartis Animal Health Inc., Dechra Pharmaceuticals PLC, Aratana Therapeutics Inc., Phibro Animal Health Corporation, Kindred Biosciences Inc., Jaguar Health Inc., Nexvet Biopharma PLC, Sentinel Biomedical Inc., PetMed Express Inc., Neogen Corporation, Heska Corporation, Synbiotics Corporation, Eurovet Animal Health B.V., Vironova AB, Abaxis Inc., Bioiberica S.A.U., Putney Inc., Lohmann Animal Health International
What trends will propel the growth and evolution of the companion animal pharmaceuticals market?
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.
Which regions are expected to become dominant players in the companion animal pharmaceuticals market?
North America was the largest region in the companion animal pharmaceuticals market in 2024. Asia-Pacific is expected to be the fastest-growing region in the companion animal pharmaceuticals market report during the forecast period. The regions covered in the companion animal pharmaceuticals market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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What are the emerging key segments in the companion animal pharmaceuticals market, and how are they evolving?
The companion animal pharmaceuticals market covered in this report 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
Subsegments:
1)By Dogs: Vaccines, Antiparasitic, Anti-Inflammatory Drugs
2) By Cats: Vaccines, Antiparasitic, Anti-Inflammatory Drugs
3) By Horses: Vaccines, Antiparasitic, Anti-Inflammatory Drugs
4) By Other Companion Animals: Vaccines, Antiparasitic, Other Therapeutics
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What defines the structure and scope of the companion animal pharmaceuticals market?
Companion animal pharmaceuticals refer to the pharmaceutical medication process in which animal pharmacists insist on medications, fill prescriptions, and manage drug therapies for animals. It is used in the diagnosis, mitigation, and treatment of different animal diseases.
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