by The global Companion Animal Medicine market size is expected to be worth around US$ 40.8 billion by 2030, according to a new report by Vision Research Reports.
The global Companion Animal Medicine market size was valued at US$ 16.8 billion in 2020 and is anticipated to grow at a CAGR of 10.6% during forecast period 2021 to 2030.
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Table of Contents
Companion Animal Medicine Market Growth Factors
Increasing prevalence of diseases in pets, rising pet expenditure, humanization of pets, adoption of online channels for buying pet medicines, and initiatives by key companies are the factors anticipated to fuel the market in the coming years. According to a 2021 article in the BMC Veterinary Research Journal, for instance, the prevalence of dental disorders diagnosed in dogs in the U.K. was found to be 14.10% and skin disorders were found to be 12.6%.
The rising number of pets across the globe, the trend of pet humanization has gained traction in several key markets. Pet parents are becoming increasingly aware of their pet’s health, treatment, and wellbeing. This has increased the adoption of pet insurance to reduce the financial risks for pet parents. Petplan- the largest pet insurance provider in the U.K. offers insurance policies for various species including dogs, cats, horses, small mammals, birds, reptiles, rabbits, and multi-pet owners.
Companion Animal Medicine Market Report Coverage
| Report Scope | Details |
| Market Size | US$ 40.8 billion by 2030 |
| Growth Rate | CAGR of 10.6% From 2021 to 2030 |
| Largest Market | North America |
| Base Year | 2021 |
| Forecast Period | 2021 to 2030 |
| Segments Covered | Animal type |
| Regional Scope | North America, Europe, Asia Pacific, Latin America, Middle East & Africa |
| Companies Mentioned | Merck & Co., Inc.; Ceva; Vetoquinol S.A.; Zoetis; Boehringer Ingelheim International GmbH; Elanco; Virbac; Bimeda, Inc.; Norbrook; Calier |
By Animal Type Analysis
The dogs segment dominated the market and accounted for the largest revenue share of 45.0% in 2020. The segment is also anticipated to witness a lucrative CAGR in the coming years. This is owing to the high popularity of dogs as pets, the rising prevalence of canine diseases, and the availability of numerous medicines for pets.
By product, the pharmaceuticals segment dominated the market and accounted for a revenue share of over 59.0% in 2020. This is due to the availability of a large number of companion animal pharmaceuticals and the rising demand for parasiticides and other products for commonly occurring infections in pets.
By indication, the canine distemper segment accounted for the largest revenue share of 31.0% in 2020. The disease is potentially lethal and highly contagious. Increased awareness amongst pet owners and availability of various treatment options are the key contributing factors for the segment’s largest market share.
By distribution channel, the hospital pharmacy segment held the largest revenue share of about 50.0% in 2020. The large share of the segment can be attributed to pet parents opting for veterinary hospitals for the treatment of their pets thus making hospital pharmacies primary centers for buying the prescribed medications.
By Regional Analysis
North America held the largest revenue share of about 36.0%. This was owing to initiatives by the government and private sector, rising adoption of pet insurance, and the presence of key companies.
In Asia Pacific, the market is anticipated to witness the fastest CAGR of about 10.0% during the forecast period. The factors attributable to this growth include the growing pet population, the presence of local players, and an increasing number of vet clinics and hospitals.
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Major Key Players Covered in The Companion Animal Medicine Market Report include
- Merck & Co., Inc.
- Ceva
- Vetoquinol S.A.
- Zoetis
- Boehringer Ingelheim International GmbH
- Elanco
- Virbac
- Bimeda, Inc.
- Norbrook
- Calier
Companion Animal Medicine Market Segmentation
- By Animal Type
-
- Dogs
- Equine
- Cats
- Others
- By Product
- Vaccines
- Pharmaceuticals
-
-
- OTC
- Prescription
- Feed Additives
- Diagnostics
- Others
-
- By Distribution Channel
- Retail
- E-commerce
- Hospital Pharmacies
- By End-use
- PoC/In-house Testing
- Veterinary Hospitals & Clinics
- Others
By Region
- North America
- Europe
- Asia Pacific
- Latin America
- MEA
Table of Contents
Chapter 1. Introduction
1.1. Research Objective
1.2. Scope of the Study
1.3. Definition
Chapter 2. Research Methodology
2.1. Research Approach
2.2. Data Sources
2.3. Assumptions & Limitations
Chapter 3. Executive Summary
3.1. Market Snapshot
Chapter 4. Companion Animal Medicine Market Variables and Scope
4.1. Introduction
4.2. Market Classification and Scope
4.3. Industry Value Chain Analysis
4.3.1. Raw Material Procurement Analysis
4.3.2. Sales and Distribution Channel Analysis
4.3.3. Downstream Buyer Analysis
Chapter 5. Companion Animal Medicine Market Dynamics Analysis and Trends
5.1. Market Dynamics
5.1.1. Market Drivers
5.1.2. Market Restraints
5.1.3. Market Opportunities
5.2. Porter’s Five Forces Analysis
5.2.1. Bargaining power of suppliers
5.2.2. Bargaining power of buyers
5.2.3. Threat of substitute
5.2.4. Threat of new entrants
5.2.5. Degree of competition
Chapter 6. Competitive Landscape
6.1.1. Company Market Share/Positioning Analysis
6.1.2. Key Strategies Adopted by Players
6.1.3. Vendor Landscape
6.1.3.1. List of Suppliers
6.1.3.2. List of Buyers
Chapter 7. Global Companion Animal Medicine Market, By Animal Type
7.1. Companion Animal Medicine Market, by Animal Type, 2021-2030
7.1.1. Dogs
7.1.1.1. Market Revenue and Forecast (2017-2030)
7.1.2. Cats
7.1.2.1. Market Revenue and Forecast (2017-2030)
7.1.3. Horses
7.1.3.1. Market Revenue and Forecast (2017-2030)
Chapter 8. Global Companion Animal Medicine Market, Regional Estimates and Trend Forecast
8.1. North America
8.1.1. Market Revenue and Forecast, by Animal Type (2017-2030)
8.1.2. U.S.
8.1.3. Rest of North America
8.1.3.1. Market Revenue and Forecast, by Animal Type (2017-2030)
8.2. Europe
8.2.1. Market Revenue and Forecast, by Animal Type (2017-2030)
8.2.2. UK
8.2.2.1. Market Revenue and Forecast, by Animal Type (2017-2030)
8.2.3. France
8.2.3.1. Market Revenue and Forecast, by Animal Type (2017-2030)
8.2.4. Rest of Europe
8.2.4.1. Market Revenue and Forecast, by Animal Type (2017-2030)
8.3. APAC
8.3.1. Market Revenue and Forecast, by Animal Type (2017-2030)
8.3.2. India
8.3.2.1. Market Revenue and Forecast, by Animal Type (2017-2030)
8.3.3. China
8.3.3.1. Market Revenue and Forecast, by Animal Type (2017-2030)
8.3.4. Japan
8.3.4.1. Market Revenue and Forecast, by Animal Type (2017-2030)
8.3.5. Rest of APAC
8.3.5.1. Market Revenue and Forecast, by Animal Type (2017-2030)
8.4. MEA
8.4.1. Market Revenue and Forecast, by Animal Type (2017-2030)
8.4.2. GCC
8.4.2.1. Market Revenue and Forecast, by Animal Type (2017-2030)
8.4.3. North Africa
8.4.3.1. Market Revenue and Forecast, by Animal Type (2017-2030)
8.4.4. South Africa
8.4.4.1. Market Revenue and Forecast, by Animal Type (2017-2030)
8.4.5. Rest of MEA
8.4.5.1. Market Revenue and Forecast, by Animal Type (2017-2030)
8.5. Latin America
8.5.1. Market Revenue and Forecast, by Animal Type (2017-2030)
8.5.2. Brazil
8.5.2.1. Market Revenue and Forecast, by Animal Type (2017-2030)
8.5.3. Rest of LATAM
8.5.3.1. Market Revenue and Forecast, by Animal Type (2017-2030)
Chapter 9. Company Profiles
9.1. Merck & Co., Inc.
9.1.1. Company Overview
9.1.2. Product Offerings
9.1.3. Financial Performance
9.1.4. Recent Initiatives
9.2. Ceva
9.2.1. Company Overview
9.2.2. Product Offerings
9.2.3. Financial Performance
9.2.4. Recent Initiatives
9.3. Vetoquinol S.A.
9.3.1. Company Overview
9.3.2. Product Offerings
9.3.3. Financial Performance
9.3.4. Recent Initiatives
9.4. Zoetis
9.4.1. Company Overview
9.4.2. Product Offerings
9.4.3. Financial Performance
9.4.4. Recent Initiatives
9.5. Boehringer Ingelheim International GmbH
9.5.1. Company Overview
9.5.2. Product Offerings
9.5.3. Financial Performance
9.5.4. Recent Initiatives
9.6. Elanco
9.6.1. Company Overview
9.6.2. Product Offerings
9.6.3. Financial Performance
9.6.4. Recent Initiatives
9.7. Virbac
9.7.1. Company Overview
9.7.2. Product Offerings
9.7.3. Financial Performance
9.7.4. Recent Initiatives
9.8. Bimeda, Inc.
9.8.1. Company Overview
9.8.2. Product Offerings
9.8.3. Financial Performance
9.8.4. Recent Initiatives
Chapter 10. Research Methodology
10.1. Primary Research
10.2. Secondary Research
10.3. Assumptions
Chapter 11. Appendix
11.1. About Us
Glossary of Terms
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