Unlocking Opportunities in the Companion Animal Pharmaceuticals Market: Key Trends, Market Growth, and Forecast Insights
2025 Market Reports Update: Market Size Forecasts to 2034, Key Trends, Leading Players, and Top Regions – Get Ahead of the Competition Today!
What Drivers Are Shaping the Growth and Development of theCompanion Animal Pharmaceuticals Market?
The rise in zoonotic diseases is anticipated to boost the expansion of the companion animal pharmaceuticals market. Zoonotic diseases are those which can naturally shift from vertebrate animals to humans or vice versa. To tackle zoonotic infections and decrease their transmission probability, the pharmaceutical industry is adopting contemporary approaches in line with a single health philosophy. For example, the European Centre for Disease Prevention and Control, a governmental agency based in Sweden, reported in December 2022 that Campylobacteriosis is the leading zoonosis, with reported cases surging to 127,840 in 2022. The majority of these cases were linked to chicken and turkey meat. Salmonella, the next most common zoonosis, infected 60,050 individuals. Yersiniosis (6,789 cases), Shigatoxin-producing E. coli infections (6,084 cases), and Listeriosis (2,183 cases) came after Campylobacteriosis and Salmonellosis in terms of frequency. As a result, the increasing incidence of zoonotic diseases is fuelling the development of the companion animal pharmaceuticals market.
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#What is the Growth Potential of the Companion Animal Pharmaceuticals Market, and How Will It Perform by 2034?
The market for companion animal pharmaceuticals has seen substantial growth in the past few years. It’s projected to increase from $16.49 billion in 2024 to $17.9 billion in 2025, with a compound annual growth rate (CAGR) of 8.5%. This growth during the historical period can be credited to factors such as the humanization of pets, preventive healthcare practices, an increase in pet insurance, evolving lifestyles, urbanization, concerns about zoonotic diseases, and access to veterinary healthcare.
The market size for companion animal pharmaceuticals is poised to witness vigorous expansion in the upcoming years, skyrocketing to $26.52 billion in 2029 with a compound annual growth rate (CAGR) of 10.3%. Factors contributing to this substantial growth during the projected period include the proliferation of personalized pet medication, the rise of telehealth and remote veterinary services, an amplified interest in nutrition and nutraceuticals, comprehensive health strategies, and the broadening scope of veterinary diagnostic capabilities. Key trends to look out for within this span include progress in veterinary medicine technology, specialized treatments for aging pets, firm adherence to regulatory protocols and safety standards, and strategic alliances and partnerships.
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Which Cutting-Edge Market Trends Are Expected to Drive theCompanion Animal Pharmaceuticals Market’s Growth?
The adoption of big data technologies is increasingly becoming a significant trend in the companion animal pharmaceuticals market. Key corporations involved in the companion animal pharmaceuticals industry are focusing on devising new tech-driven solutions to consolidate their standing. For example, in April 2022, Elanco Animal Health Incorporated, a firm based in the US and involved in companion animal pharmaceuticals, in collaboration with Ginkgo Bioworks, another US-based company within the same sector, formed BiomEdit – an innovative company centered on microbiome advancements. The endeavor aims to introduce groundbreaking animal pharmaceuticals such as distinctive probiotics and related products, along with therapeutic solutions for dietary health, medicated feed ingredients for livestock, pet animals, and biosecurity technologies for tracking animal diseases.
What Are the Leading Market Players Impacting theCompanion Animal Pharmaceuticals Market’s Growth Trend?
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
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How Are the Key Segments of the Companion Animal Pharmaceuticals Market Driving Opportunities and Innovations?
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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https://www.thebusinessresearchcompany.com/customise?id=7983&type=smpGlobal Companion Animal Pharmaceuticals Market, Global Companion Animal Pharmaceuticals Market Report, Global Companion Animal Pharmaceuticals Market Trends, Global Companion Animal Pharmaceuticals Market Size
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