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Growing Prevalence Of Zoonotic Diseases Fuels Growth Of Companion Animal Pharmaceuticals Market: Strategic Insights Driving Companion Animal Pharmaceuticals Market Momentum in 2025
Companion Animal Pharmaceuticals
How Large Will the Companion Animal Pharmaceuticals Market Size By 2025?
The market for companion animal pharmaceuticals has demonstrated robust growth over the recent years. Projected to expand from $16.49 billion in 2024, it is expected to reach $17.9 billion by 2025 with an 8.5% compound annual growth rate (CAGR). Factors contributing to the notable expansion in the historical period include the increased humanization of pets, preventative health services, a growing trend towards pet insurance, modifications in lifestyle and urbanization, fears over zoonotic diseases, and improved access to veterinary healthcare.
How Big Is the Companion Animal Pharmaceuticals Market Size Expected to Grow by 2029?
In the upcoming years, the companion animal pharmaceuticals market is predicted to experience substantial growth, reaching $26.52 billion in 2029 with a compound annual growth rate (CAGR) of 10.3%. This growth in the projected time frame can be credited to factors like personalized medications for pets, telehealth and remote services for veterinary care, emphasis on nutrition and nutraceuticals, one-health strategies, and expansion of diagnostic services in veterinary. Key trends expected during the forecast period are developments in veterinary medicine, specialized treatments for aging pets, adherence to regulatory requirements and safety norms, as well as collaborations and partnerships.
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Which Key Market Drivers Powering Companion Animal Pharmaceuticals Market Expansion and Growth?
The surge in zoonotic diseases is set to fuel the expansion of the companion animal pharmaceuticals market. Zoonotic diseases are those which naturally pass from vertebrate animals to humans, or from humans to vertebrate animals. To counteract these diseases and reduce the risk of transmission, the pharmaceutical industry is adopting new approaches that adhere to a unified health principle. For instance, a report released in December 2022 by the European Centre for Disease Prevention and Control, a governmental agency based in Sweden, indicated that Campylobacteriosis remains the most widespread zoonotic disease, with an alarming increase in reported cases to 127,840 in 2022. The majority of these cases were traced back to chicken and turkey meat. The second most prevalent zoonotic disease, Salmonella, affected 60,050 people. Other commonly reported zoonotic diseases included Yersiniosis (6,789 cases), Shigatoxin-producing E. coli infections (6,084 cases), and Listeriosis (2,183 cases). Hence, the increasing frequency of zoonotic diseases is accelerating the expansion of the companion animal pharmaceuticals market.
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Which Fast-Growing Trends Are Poised to Disrupt the Companion Animal Pharmaceuticals Market?
The adoption of big data technologies in the companion animal pharmaceutical sector is a significant trend that is gaining traction. High-profile businesses in this market are aiming to consolidate their status by pioneering new technological advancements. For example, in April 2022, Elanco Animal Health Incorporated, an American company involved in companion animal pharmaceuticals, teamed up with Ginkgo Bioworks, another US-based firm in the same field, to launch BiomEdit - an innovative microbiome organization focusing on animal health innovation. This venture will introduce fresh probiotics and various related animal pharmaceuticals, including medicated feed ingredients, nutritional health solutions, treatments for livestock and pets, and biosecurity technologies for monitoring animal diseases.
What Are the Emerging Segments in 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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Who Are the Global Leaders in 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
Which are the Top Profitable Regional Markets for the Companion Animal Pharmaceuticals Industry?
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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