Press release
Companion Animal Pharmaceuticals Industry Outlook 2025-2029: Market Set to Cross $26.34 Billion Milestone
Companion Animal Pharmaceuticals Market
How Large Will the Companion Animal Pharmaceuticals Market Size By 2025?
In the last few years, there has been significant growth in the market size of companion animal pharmaceuticals. It's expected to increase from $16.49 billion in 2024 to $17.85 billion in 2025, with a compound annual growth rate (CAGR) of 8.2%. This growth during the historic period is a result of factors such as the humanization of pets, the emphasis on preventive healthcare, an increase in pet insurance, shifts in lifestyle and urbanization, concerns about zoonotic diseases, and improved access to veterinary healthcare.
How Big Is the Companion Animal Pharmaceuticals Market Size Expected to Grow by 2029?
The pharmaceuticals market for companion animals is projected to grow significantly in the upcoming years, eventually reaching a market value of $26.34 billion in 2029, reflecting a compound annual growth rate (CAGR) of 10.2%. This growth over the forecast period is expected thanks to several factors such as customized treatments for pets, the emergence of telehealth and remote veterinary services, the emphasis on nutrition and nutraceuticals, one health movements, and the expansion of veterinary diagnostic services. Key trends during this forecast period are expected to include progress in veterinary medicine, specialized treatments for aging pets, maintained regulatory compliance and safety standards, and strategic collaborations and partnerships.
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Which Key Market Drivers Powering Companion Animal Pharmaceuticals Market Expansion and Growth?
The rising incidence of diseases that can be naturally transmitted from animals to humans, known as zoonotic diseases, is anticipated to significantly boost the expansion of the companion animal pharmaceuticals market. To efficiently fight zoonotic diseases and reduce the chances of their spread, the pharmaceutical sector is adopting innovative approaches which are aligned with a unique health protocol. For instance, a report from the European Centre for Disease Prevention and Control indicated that in December 2022, Campylobacteriosis was reported as the prevalent zoonotic disease in Sweden, with the number of cases dramatically increasing to 127,840 in 2022. The majority of these cases were linked to chicken and turkey meat. Following this, Salmonella was identified as the second widespread zoonotic disease, infecting 60,050 individuals. Yersiniosis (6,789 cases), Shigatoxin-producing E. coli infections (6,084 cases), and Listeriosis (2,183 cases) in order followed. Hence, the escalating incidence of zoonotic diseases is fueling the growth 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 is becoming a prominent trend in the companion animal pharmaceuticals industry. To solidify their market position, key companies are focusing on the creation of innovative technological solutions. For instance, in April 2022, Elanco Animal Health Incorporated and Ginkgo Bioworks, both US-based companies in the companion animal pharmaceuticals domain, introduced BiomEdit, a pioneering company specializing in microbiome. This development aims to generate groundbreaking advancements in animal health, including new probiotics and other related animal pharmaceutical products. Among the proposed innovations are medicated feed ingredients, nutritional health therapies for livestock and domestic pets, and advanced 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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