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Companion Animal Pharmaceuticals Market worth $28.21 billion by 2030, growing at a CAGR of 9.71% - Exclusive Report by 360iResearch
Companion Animal Pharmaceuticals Market | 360iResearch
The Global Companion Animal Pharmaceuticals Market to grow from USD 14.73 billion in 2023 to USD 28.21 billion by 2030, at a CAGR of 9.71%.
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Companion animal pharmaceuticals encompasses the branch of veterinary medicine that is involved in the discovery, development, production, and marketing of drugs for pets, such as dogs, cats, and horses. These pharmaceuticals are designed to treat or prevent a wide range of conditions, from chronic diseases such as diabetes to acute infections or infestations, enhancing the health and well-being of companion animals. As companion animals become more integral to families, there is a rise in the demand for their healthcare. The prevalence of diseases transferable between animals and humans prompts more vigilant healthcare practices for companion animals. However, navigating through rigorous approval processes for new drugs can be time-consuming and costly, impeding the process of drug and pharmaceutical development. Research into cost-effective generic alternatives to branded medication can open up new market segments. Veterinary pharmaceutical companies are expanding into tailored treatment plans based on individual animal genetics, and biometrics can differentiate offerings. Moreover, there have been significant investments in the development of new vaccines and biologic treatments for various diseases.
In the Americas, there is a high usage rate of companion animal pharmaceuticals, reflecting the substantial pet population and pet owners' inclination towards advanced veterinary care. The Americas demonstrates robust production capabilities, with many major pharmaceutical companies operating within the region. The APAC region is witnessing a growing adoption of companion animals, which is fuelling the demand for animal health products. However, the usage pattern is diversified with higher growth in countries such as Japan, Australia, and South Korea, compared to emerging markets where awareness and expenditure on animal health are still developing. Countries such as China and India are emerging as significant manufacturing hubs due to lower production costs and improving quality standards. There is also a notable investment in R&D, particularly in countries with a strong pharmaceutical industry in Asia. In Europe, there is a well-established market for companion animal pharmaceuticals characterized by stringent regulatory standards and a focus on safety and efficacy. The usage is marked by a high demand for chronic disease management products alongside preventive medications. The European region has well-established production facilities with a focus on high-quality standards compliant with the European Medicines Agency (EMA) regulations.
Market Segmentation & Coverage:
This research report categorizes the Companion Animal Pharmaceuticals Market in order to forecast the revenues and analyze trends in each of following sub-markets:
Based on Product, market is studied across Analgesics, Anti-infectives, Anti-inflammatory, Medicated Feed Additives, Parasiticides, and Vaccines. The Anti-infectives is projected to witness significant market share during forecast period.
Based on Indication, market is studied across Behavioral Disorders, Dermatologic Diseases, Infectious Diseases, Orthopedic Diseases, and Pain. The Pain commanded largest market share of 28.08% in 2023, followed by Infectious Diseases.
Based on Animal Type, market is studied across Cats, Dogs, and Horses. The Dogs commanded largest market share of 37.30% in 2023, followed by Cats.
Based on Distribution Channel, market is studied across Online Pharmacies, Retail Pharmacies, Veterinary Clinics, and Veterinary Hospitals. The Veterinary Hospitals commanded largest market share of 37.86% in 2023, followed by Veterinary Clinics.
Based on Region, market is studied across Americas, Asia-Pacific, and Europe, Middle East & Africa. The Americas is further studied across Argentina, Brazil, Canada, Mexico, and United States. The United States is further studied across California, Florida, Illinois, New York, Ohio, Pennsylvania, and Texas. The Asia-Pacific is further studied across Australia, China, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Taiwan, Thailand, and Vietnam. The Europe, Middle East & Africa is further studied across Denmark, Egypt, Finland, France, Germany, Israel, Italy, Netherlands, Nigeria, Norway, Poland, Qatar, Russia, Saudi Arabia, South Africa, Spain, Sweden, Switzerland, Turkey, United Arab Emirates, and United Kingdom. The Europe, Middle East & Africa commanded largest market share of 35.16% in 2023, followed by Americas.
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FPNV Positioning Matrix:
The FPNV Positioning Matrix is essential for assessing the Companion Animal Pharmaceuticals Market. It provides a comprehensive evaluation of vendors by examining key metrics within Business Strategy and Product Satisfaction, allowing users to make informed decisions based on their specific needs. This advanced analysis then organizes these vendors into four distinct quadrants, which represent varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital(V).
Market Share Analysis:
The Market Share Analysis offers an insightful look at the current state of vendors in the Companion Animal Pharmaceuticals Market. By comparing vendor contributions to overall revenue, customer base, and other key metrics, we can give companies a greater understanding of their performance and what they are up against when competing for market share. The analysis also sheds light on just how competitive any given sector is about accumulation, fragmentation dominance, and amalgamation traits over the base year period studied.
Key Company Profiles:
The report delves into recent significant developments in the Companion Animal Pharmaceuticals Market, highlighting leading vendors and their innovative profiles. These include Alivira Animal Health Limited, Ashish Life Science Pvt. Ltd., Boehringer Ingelheim International GmbH, Century Pharmaceuticals Ltd., Ceva Santé Animale, Chanelle Pharma, Dechra Pharmaceuticals PLC, Eco Animal Health Group PLC, Elanco Animal Health Incorporated, Endovac Animal Health, LLC, Hester Biosciences Limited, Hipra Laboratories, S.A., Indian Immunologicals Ltd., Kyoritsu Seiyaku Corporation, Lutim Pharma Pvt. Ltd., Meiji Group, Merck & Co. Inc., Neogen Corporation, Norbrook Laboratories Ltd., Orion Corporation, Phibro Animal Health Corporation, SkyEc Pharmaceuticals Private Limited, Stanex Drugs and Chemicals Pvt Ltd., Tianjin Ringpu Biotechnology Co., Ltd., Veko Care, Vetbiolix, Vetneeds Group, Virbac S.A., Zoetis Inc., and Zydus Animal Health.
Key Topics Covered:
1. Preface
2. Research Methodology
3. Executive Summary
4. Market Overview
5. Market Insights
6. Companion Animal Pharmaceuticals Market, by Product
7. Companion Animal Pharmaceuticals Market, by Indication
8. Companion Animal Pharmaceuticals Market, by Animal Type
9. Companion Animal Pharmaceuticals Market, by Distribution Channel
10. Americas Companion Animal Pharmaceuticals Market
11. Asia-Pacific Companion Animal Pharmaceuticals Market
12. Europe, Middle East & Africa Companion Animal Pharmaceuticals Market
13. Competitive Landscape
14. Competitive Portfolio
The report provides insights on the following pointers:
1. Market Penetration: Provides comprehensive information on the market offered by the key players
2. Market Development: Provides in-depth information about lucrative emerging markets and analyzes penetration across mature segments of the markets
3. Market Diversification: Provides detailed information about new product launches, untapped geographies, recent developments, and investments
4. Competitive Assessment & Intelligence: Provides an exhaustive assessment of market shares, strategies, products, certification, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players
5. Product Development & Innovation: Provides intelligent insights on future technologies, R&D activities, and breakthrough product developments
The report answers questions such as:
1. What is the market size and forecast of the Companion Animal Pharmaceuticals Market?
2. Which are the products/segments/applications/areas to invest in over the forecast period in the Companion Animal Pharmaceuticals Market?
3. What is the competitive strategic window for opportunities in the Companion Animal Pharmaceuticals Market?
4. What are the technology trends and regulatory frameworks in the Companion Animal Pharmaceuticals Market?
5. What is the market share of the leading vendors in the Companion Animal Pharmaceuticals Market?
6. What modes and strategic moves are considered suitable for entering the Companion Animal Pharmaceuticals Market?
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