Companion Animal Drugs Market, Opportunity, Growth Drivers, Industry Trend Analysis and Forecast, 2024-2032
Companion animal drugs market size is set to record a 7.5% CAGR during 2024-2032 driven by the increasing number of pet owners and the rising focus on improving the health and well-being of pets. As pets are increasingly seen as family members, there is a growing demand for advanced medical treatments and preventive care, including vaccines, parasiticides, and therapeutics for chronic conditions. Advancements in veterinary medicine and the introduction of innovative drugs and treatment options are enhancing the effectiveness of pet healthcare.
Pet owners are also willing to invest in their pet health, leading to higher spending on medical treatments and preventive care. The rise in chronic diseases among pets, such as diabetes and arthritis, is necessitating ongoing medication and management, boosting the demand for specialty drugs. As per reports, 1 in 5 dogs suffer from arthritis.
The overall industry is divided into product, animal type, route of administration, distribution channel, and region.
Based on product, the companion animal drugs market size from the vaccine segment is expected to generate notable revenue by 2032. This is due to the increasing emphasis on preventive care and the rising incidence of infectious diseases among pets. Vaccines play a crucial role in protecting companion animals from diseases, such as parvovirus, distemper, and rabies, leading to improved overall pet health and reduced veterinary costs.
In terms of distribution channel, the companion animal drugs market from the retail pharmacy segment is projected to observe a robust CAGR during 2024 – 2032. This is owing to its increasing role in providing accessible and convenient medication options for pets. Retail pharmacies are also expanding their offerings to include a broad range of companion animal drugs, from prescription medications to over-the-counter treatments and wellness products.
Asia Pacific companion animal drugs industry size will grow substantially between 2024 and 2032 driven by the increasing pet ownership and the rising awareness of pet health and wellness across the region. As more people adopt pets, particularly in urban areas, there is a greater demand for comprehensive veterinary care and pharmaceutical products.
Companion animal drugs market size is set to record a 7.5% CAGR during 2024-2032 driven by the increasing number of pet owners and the rising focus on improving the health and well-being of pets. As pets are increasingly seen as family members, there is a growing demand for advanced medical treatments and preventive care, including vaccines, parasiticides, and therapeutics for chronic conditions. Advancements in veterinary medicine and the introduction of innovative drugs and treatment options are enhancing the effectiveness of pet healthcare. Pet owners are also willing to invest in their pet health, leading to higher spending on medical treatments and preventive care. The rise in chronic diseases among pets, such as diabetes and arthritis, is necessitating ongoing medication and management, boosting the demand for specialty drugs. As per reports, 1 in 5 dogs suffer from arthritis. The overall industry is divided into product, animal type, route of administration, distribution channel, and region. Based on product, the companion animal drugs market size from the vaccine segment is expected to generate notable revenue by 2032. This is due to the increasing emphasis on preventive care and the rising incidence of infectious diseases among pets. Vaccines play a crucial role in protecting companion animals from diseases, such as parvovirus, distemper, and rabies, leading to improved overall pet health and reduced veterinary costs. In terms of distribution channel, the companion animal drugs market from the retail pharmacy segment is projected to observe a robust CAGR during 2024 – 2032. This is owing to its increasing role in providing accessible and convenient medication options for pets. Retail pharmacies are also expanding their offerings to include a broad range of companion animal drugs, from prescription medications to over-the-counter treatments and wellness products. Asia Pacific companion animal drugs industry size will grow substantially between 2024 and 2032 driven by the increasing pet ownership and the rising awareness of pet health and wellness across the region. As more people adopt pets, particularly in urban areas, there is a greater demand for comprehensive veterinary care and pharmaceutical products.
- Chapter 1 Methodology and Scope
- 1.1 Market scope and definitions
- 1.2 Research design
- 1.2.1 Research approach
- 1.2.2 Data collection methods
- 1.3 Base estimates and calculations
- 1.3.1 Base year calculation
- 1.3.2 Key trends for market estimation
- 1.4 Forecast model
- 1.5 Primary research and validation
- 1.5.1 Primary sources
- 1.5.2 Data mining sources
- Chapter 2 Executive Summary
- 2.1 Industry 360° synopsis
- Chapter 3 Industry Insights
- 3.1 Industry landscape, 2018 - 2032 (USD Million)
- 3.2 Industry impact forces
- 3.2.1 Growth drivers
- 3.2.1.1 Surging demand for pet insurance policies worldwide
- 3.2.1.2 Rising rate of obesity in companion animals
- 3.2.1.3 Increasing government support for pet care across the globe
- 3.2.1.4 Growing demand for online veterinary pharmacies
- 3.2.2 Industry pitfalls and challenges
- 3.2.2.1 High cost associated with companion animal drugs
- 3.3 Growth potential analysis
- 3.4 Regulatory landscape/policy landscape
- 3.4.1 U.S.
- 3.4.2 Europe
- 3.4.3 Asia-Pacific
- 3.5 Gap analysis
- 3.6 Consumer behavior trends
- 3.7 Industry ecosystem
- 3.8 Porter's analysis
- 3.9 PESTEL analysis
- Chapter 4 Competitive Landscape, 2023
- 4.1 Introduction
- 4.1.1 Zoetis Inc.
- 4.1.2 Boehringer Ingelheim International GmbH
- 4.1.3 Elanco Animal Health Incorporated
- 4.2 Company market share analysis
- 4.3 Company matrix analysis
- 4.4 Strategy dashboard
- Chapter 5 Market Estimates and Forecast, By Product, 2018 – 2032 ($ Mn)
- 5.1 Key trends
- 5.2 Drugs
- 5.2.1 Antiparasitic
- 5.2.2 Anti-inflammatory
- 5.2.3 Anti-infectives
- 5.2.4 Corticosteroids
- 5.2.5 Tranquilizers
- 5.2.6 Cardiovascular drugs
- 5.2.7 Gastrointestinal drugs
- 5.3 Vaccines
- 5.3.1 Modified live vaccines (MLV)
- 5.3.2 Killed inactivated vaccines
- 5.3.3 Recombinant vaccines
- 5.4 Medicated feed additives
- 5.4.1 Antibiotics
- 5.4.2 Vitamins
- 5.4.3 Amino acids
- 5.4.4 Enzymes
- 5.4.5 Antioxidants
- 5.4.6 Prebiotics and probiotics
- 5.4.7 Minerals
- 5.4.8 Carbohydrates
- 5.4.9 Propandiol
- Chapter 6 Market Estimates and Forecast, By Animal type, 2018 – 2032 ($ Mn)
- 6.1 Key trends
- 6.2 Dogs
- 6.3 Cats
- 6.4 Horses
- 6.5 Other animals
- Chapter 7 Market Estimates and Forecast, By Route of Administration, 2018 – 2032 ($ Mn)
- 7.1 Key trends
- 7.2 Oral
- 7.3 Injectable
- 7.4 Topical
- 7.5 Other routes of administration
- Chapter 8 Market Estimates and Forecast, By Distribution Channel, 2018 – 2032 ($ Mn)
- 8.1 Key trends
- 8.2 Veterinary hospital pharmacy
- 8.3 Retail pharmacy
- 8.4 E-commerce
- Chapter 9 Market Estimates and Forecast, By Region, 2018 – 2032 ($ Mn)
- 9.1 Key trends
- 9.2 North America
- 9.2.1 U.S.
- 9.2.2 Canada
- 9.3 Europe
- 9.3.1 Germany
- 9.3.2 UK
- 9.3.3 France
- 9.3.4 Spain
- 9.3.5 Italy
- 9.3.6 Poland
- 9.3.7 Netherlands
- 9.3.8 Rest of Europe
- 9.4 Asia Pacific
- 9.4.1 China
- 9.4.2 Japan
- 9.4.3 India
- 9.4.4 Australia
- 9.4.5 South Korea
- 9.4.6 Taiwan
- 9.4.7 Rest of Asia Pacific
- 9.5 Latin America
- 9.5.1 Brazil
- 9.5.2 Mexico
- 9.5.3 Argentina
- 9.5.4 Rest of Latin America
- 9.6 Middle East and Africa
- 9.6.1 South Africa
- 9.6.2 GCC Countries
- 9.6.3 Israel
- 9.6.4 Rest of Middle East and Africa
- Chapter 10 Company Profiles
- 10.1 Agrolabo S.p.A.
- 10.2 Boehringer Ingelheim International GmbH
- 10.3 Ceva Santé Animale
- 10.4 Chanelle Pharma
- 10.5 Dechra Pharmaceuticals PLC
- 10.6 Elanco Animal Health Incorporated
- 10.7 Endovac Animal Health
- 10.8 HIPRA
- 10.9 Indian Immunologicals Ltd.
- 10.10 Merck and Co., Inc.
- 10.11 Norbrook
- 10.12 Symrise
- 10.13 Vetoquinol
- 10.14 Virbac
- 10.15 Zoetis Inc.
Research Assistance
Download our eBook: How to Succeed Using Market Research
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.
Download eBook