Unlocking the Future of the Companion Animal Pharmaceuticals Market: Growth Rate, Key Trends, and Opportunities for 2025-2034
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How has the companion animal pharmaceuticals market size evolved in recent years?
The market size for pharmaceuticals in the companion animal sector has seen robust growth in recent times. This market is projected to expand from $16.49 billion in 2024 to $17.9 billion in 2025, with a compound annual growth rate (CAGR) of 8.5%. The notable growth during the historic period can be credited to factors such as the humanization of pets, implementation of preventive healthcare practices, increase in pet insurance, shifts in lifestyle and urbanization, concerns related to zoonotic diseases, and availability of veterinary healthcare.
What are the predictions for the companion animal pharmaceuticals market size in the coming years?
The market size of companion animal pharmaceuticals is predicted to witness substantial escalation in the coming years, expanding to a value of $26.52 billion in 2029 with a compound annual growth rate (CAGR) of 10.3%. The predicted progression in this period can be credited to the rise of individualized medication for pets, expansion in telehealth and remote-based vet services, emphasis on nutrition and nutraceuticals, initiatives in the sector of ‘one health’, and extended range of veterinary diagnostic services. Within the forecast period, prominent trends are expected to include enhancements in veterinarian medicine, specialized therapeutics designed for aging pets, adherence to regulatory compliance and safety norms, as well as collaborations and partnerships.
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What key factors are fueling the growth of the companion animal pharmaceuticals market?
The escalating incidence of diseases transmissible between animals and humans, known as zoonotic diseases, is anticipated to spur the expansion of the companion animal pharmaceuticals market. A zoonotic disease can naturally pass from vertebrate animals to humans and vice versa. To fight zoonotic diseases and reduce the chances of their transmission, the pharmaceutical sector is adopting innovative methods and strategies conforming to a unified health principle. For example, a report by the European Centre for Disease Prevention and Control, a government agency based in Sweden, released in December 2022, stated that Campylobacteriosis remained the most widespread zoonosis, with a significant increase in reported cases, reaching 127,840 in 2022. The majority of reported Campylobacteriosis cases stemmed from chicken and turkey meat. The second most common zoonosis, Salmonella, affected 60,050 individuals. After Campylobacteriosis and Salmonellosis, the most commonly reported zoonotic diseases were Yersiniosis (6,789 cases), Shigatoxin-producing E. coli infections (6,084 cases), and Listeriosis (2,183 cases). Thus, the increasing incidence of zoonotic diseases is propelling the growth of the companion animal pharmaceuticals market.
How is the global companion animal pharmaceuticals market divided into key segments?
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 key firms paving the way for growth 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 trends are expected to transform the companion animal pharmaceuticals market?
The adoption of big data technology is an emerging trend that’s gaining ground in the companion animal pharmaceuticals sector. Major stakeholders in this market are keen on creating innovative technological solutions to solidify their market standing. For instance, Elanco Animal Health Incorporated, a US entity in the companion animal pharmaceuticals sphere, and Ginkgo Bioworks, also a US-based company in the same field, launched BiomEdit, a microbiome innovation firm in April 2022. Their objective is to advance animal health through this innovation that involves offering new probiotics and other relevant animal pharmaceuticals. This includes medicated food ingredients, nutritional health solutions, therapeutic strategies for livestock and pets, and biosecurity technologies for tracking animal diseases.
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What regions are contributing significantly to the growth of the companion animal pharmaceuticals market?
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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