Press release
Pet Healthcare Global Market Report 2025: Surge in Market Size, Fueled by Humanization Trend, Veterinary Advancements, and Rising Pet Ownership
Pet Healthcare Market Size
What Is The Projected Market Size Of The Pet Healthcare Global Market Report 2025 And Its Growth Rate?
The global pet healthcare market has shown substantial growth and forecasts are promising. Key projections include:
• Growth from $253.75 billion in 2024 to $269.63 billion in 2025, marking a compound annual growth rate (CAGR) of 6.3%.
• The market size is expected to reach $385.45 billion in 2029, at a compound annual growth rate (CAGR) of 9.3%.
• This growth can be attributed to growing trends such as pet humanization, veterinary advancements, changing consumer lifestyles, economic prosperity and regulatory changes.
What Is Driving The Growth In The Pet Healthcare Global Market Report 2025?
The growth of the pet healthcare market can be largely attributed to the rising trend of pet ownership across the globe. The emotional well-being and companionship offered by pets are significant factors leading to this rising trend. Additionally, changing lifestyles that make way for pet care, as well as the critical role of healthcare in the longevity and well-being of these pets, are driving the market. In August 2024, The World Animal Foundation estimated that sixty-six percent of U.S. households, or 86.9 million homes, own pets. Dogs, cats and freshwater fish are the most popular among the pets. In 2022, spending in the U.S. on pets reached $136.8 billion, a significant increase from the $123.6 billion spent in 2021.
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Who Are the Key Players Driving Pet Healthcare Global Market Report 2025 Growth?
Major contributors to the pet healthcare market include:
• Nestle SA
• Merck & Co Inc.
• Mars Inc.
• Indian Immunologicals Limited
• Boehringer Ingelheim International GmbH
• Colgate-Palmolive Company
• Chewy Inc.
• Zoetis Inc.
• Petco Animal Supplies Inc.
• VCA Animal Hospitals Inc.
• Elanco Animal Health Incorporated
• IDEXX Laboratories Inc.
What Are The Key Trends In The Pet Healthcare Global Market Report 2025?
Major trends shaping the future of pet healthcare market are:
• Pharmaceutical innovations for pet health
• Personalized pet healthcare plans
• E-commerce growth in pet medications
• Increased focus on mental health
• Preventive dental care for pets
What Are The Segments Of The Pet Healthcare Global Market?
The pet healthcare market can be segmented as follows:
1) By Type: Therapeutics, Diagnostics
2) By Animal Type: Canine, Feline, Equine, Avian, and Other Animals
3) By Distribution Channel: Retail, E-commerce, Hospital Pharmacies
Which Region Leads The Pet Healthcare Global Market Report 2025?
North America was the leading region in the pet healthcare market in 2024, while Asia-Pacific is expected to be the fastest-growing region during the forecast period. The report provides insights on regions including Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
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What Is Covered In The Pet Healthcare Global Market Report 2025 Global Market Report?
- Market Size Analysis: Analyze the Pet Healthcare Global Market Report 2025 size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Pet Healthcare Global Market Report 2025 for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Pet Healthcare Global Market Report 2025 growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Pet Healthcare Global Market Report 2025.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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