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Emerging Trends Influencing The Growth Of The Companion Animal Pharmaceuticals Market:Big Data Transforms The Companion Animal Pharmaceutical Market
Companion Animal Pharmaceuticals
How Big Is the Companion Animal Pharmaceuticals Market Size Expected to Be by 2034?
The market size of companion animal pharmaceuticals has witnessed considerable growth in the past years, expanding from $16.49 billion in 2024 to $17.9 billion in 2025 with a Compound Annual Growth Rate (CAGR) of 8.5%. The growth during the historical period is attributed to several factors including the humanisation of pets, introduction of preventive health care measures for pets, an increase in pet insurance, transformation in lifestyle and urbanization, and concerns related to zoonotic diseases, as well as improved accessibility to veterinary healthcare.
The market size for companion animal pharmaceuticals is predicted to experience a swift expansion over the coming years. It is projected to soar to $26.52 billion by 2029, boasting a compound annual growth rate (CAGR) of 10.3%. This upward trajectory during the forecast period is credited to factors like the advent of personalized pet medication, the move towards telehealth and off-site veterinarian services, a focus on nutrition and nutraceuticals, 'one health' initiatives, and the broadening of veterinary diagnostic services. The upcoming trends for this period comprise advancements in the field of veterinary medicine, exclusive therapeutics for aged pets, regulatory compliance, safety standards, as well as collaborations and partnerships.
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What Are the Emerging Segments Within the Companion Animal Pharmaceuticals Market?
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 Long-Term Drivers Are Shaping Companion Animal Pharmaceuticals Market Trends?
The companion animal pharmaceuticals market is likely to expand due to the increasing occurrence of zoonotic diseases. Zoonotic diseases are those that can naturally transfer between vertebrate animals and humans. The pharmaceutical sector is employing advanced techniques and tactics that adhere to a uniform set of health principles. These are aimed at fighting zoonotic diseases and reducing the chances of transmission. For instance, a report published by the European Centre for Disease Prevention and Control in December 2022 indicated that Campylobacteriosis is the most common zoonosis in Sweden. There was a significant increase in reported cases, with the number reaching 127,840 in 2022. Most of these cases were due to chicken and turkey meat. The next most widespread zoonosis was Salmonella, with 60,050 cases. Apart from Campylobacter and Salmonella, Yersiniosis (6,789 cases), Shigatoxin-producing E. coli infections (6,084 cases) and Listeriosis (2,183 cases) were the most commonly reported zoonotic diseases. Hence, the rise in zoonotic diseases is spurring growth in the companion animal pharmaceuticals market.
Who Are the Top Competitors in Key Companion Animal Pharmaceuticals Market Segments?
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 Companion Animal Pharmaceuticals Market Trends Are Gaining Traction Across Different Segments?
The adoption of big data technologies is a rising trend that is attracting interest in the field of companion animal pharmaceuticals. Leading companies in this market are intent on devising new tech-based solutions to consolidate their market position. For instance, in April 2022, Elanco Animal Health Incorporated, a US company in the companion animal pharmaceuticals sector, teamed up with Ginkgo Bioworks, another US based firm in the same industry, to launch BiomEdit. This is a unique company focused on microbiome innovation aimed at driving advances in animal health. They aim to develop new probiotics and other associated animal pharmaceutical products that enhance animal health. This includes medicated feed ingredients, nutritional health solutions and therapies for livestock and domestic animals, as well as biosecurity technologies for monitoring animal diseases.
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Which Regions Are Becoming Hubs for Companion Animal Pharmaceuticals Market Innovation?
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.
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Companion Animal Pharmaceuticals Market?
2. What is the CAGR expected in the Companion Animal Pharmaceuticals Market?
3. What Are the Key Innovations Transforming the Companion Animal Pharmaceuticals Industry?
4. Which Region Is Leading the Companion Animal Pharmaceuticals Market?
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