Companion Animal Pharmaceuticals Growth Trajectory: Key Forecasts and Strategic Insights
Discover trends, market shifts, and competitive outlooks for the companion animal pharmaceuticals industry through 2025-2034 with The Business Research Company’s reliable data and in-depth research
#How Has The Companion Animal Pharmaceuticals Market Growth Evolved From 2024 To 2025, And What’s Ahead?
The market size of companion animal pharmaceuticals has witnessed robust growth in recent years. The value is projected to increase from $16.49 billion in 2024 to $17.9 billion in 2025, exhibiting a compound annual growth rate (CAGR) of 8.5%. This significant growth during the historical period is attributed to factors such as the humanization of pets, advancements in preventive healthcare, increased coverage of pet insurance, lifestyle changes and urbanization, concerns over zoonotic diseases and improved access to veterinary healthcare.
The market for pharmaceuticals for companion animals is set to experience swift expansion in the upcoming years. It is anticipated to elevate to a worth of $26.52 billion by 2029, with a compound annual growth rate (CAGR) of 10.3%. The escalation during the prediction period can be linked to custom-made medicines for pets, telehealth and remote services for veterinary care, emphasis on nutrition and nutraceuticals, initiatives for pet health, and the broadening of veterinary diagnostic services. Foreseen trends for the forecast period encompass developments in veterinary medicine, specialized treatments for aging pets, adherence to regulations and safety norms, and cooperative alliances and partnerships.
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Which Factors and External Forces Are Driving Demand in the Companion Animal Pharmaceuticals Market?
The increase in cases of zoonotic diseases is anticipated to stimulate the expansion of the companion animal pharmaceuticals market. A zoonotic disease refers to a condition that naturally spreads from vertebrate animals to humans or vice versa. To counter zoonotic diseases and minimize transmission rates, the pharmaceutical sector is adopting innovative methods and strategies aligned with a singular health principle. For example, a report released by the European Centre for Disease Prevention and Control in December 2022 highlighted that Campylobacteriosis continues to be the most widespread zoonosis in Sweden, with the number of reported cases climbing to 127,840 in 2022. The majority of these cases were attributed to chicken and turkey meat. Also notably prevalent was Salmonella, ranking as the second most common zoonosis, affecting 60,050 people. Following these, Yersiniosis (6,789 cases), Shigatoxin-producing E. coli infections (6,084 cases), and Listeriosis (2,183 cases) were the zoonotic diseases most often reported. As such, the rising occurrence of zoonotic diseases is fuelling the progression of the companion animal pharmaceuticals market.
Which Segments in the Companion Animal Pharmaceuticals Offer the Most Growth?
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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What Are the Fastest-Growing Geographies in 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.
Which Cutting-Edge Market Trends Are Expected to Drive theCompanion Animal Pharmaceuticals Market’s Growth?
The adoption of big data technologies is becoming a leading trend in the companion animal pharmaceuticals sector. Major players in the market are concentrating on introducing innovative technological solutions to fortify their market stand. For instance, Elanco Animal Health Incorporated, a companion animal pharmaceuticals firm based in the US, and Ginkgo Bioworks, another American company in the same sector, launched BiomEdit, a company specializing in microbiome innovation, in April 2022. This venture will bring forward new probiotics and related animal pharmaceuticals to pioneer innovation in animal health. These include medicated feed ingredients, nutritional health and therapeutic solutions for livestock and pets, and biosecurity technologies for monitoring animal diseases.
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What Are the Key Elements That Define the Companion Animal Pharmaceuticals Market?
Companion animal pharmaceuticals refer to the pharmaceutical medication process in which animal pharmacists insist on medications, fill prescriptions, and manage drug therapies for animals. It is used in the diagnosis, mitigation, and treatment of different animal diseases.
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