Companion Animal Drugs Market, Opportunity, Growth Drivers, Industry Trend Analysis and Forecast, 2024-2032

Description

The Global Companion Animal Drugs Market was valued at USD 19.6 billion in 2023 and will grow at a 7.5% CAGR between 2024 and 2032, attributed to the rising prevalence of zoonotic diseases, which can be transmitted between animals and humans. As awareness of these diseases increases, pet owners and veterinarians are focusing more on preventive care and treatments to safeguard animal and human health. Also, growing awareness of overall animal health and the importance of timely veterinary care is further boosting demand for companion animal drugs. This heightened focus on prevention and treatment will expand the market significantly.

The companion animal drugs industry is fragmented based on product, animal type, route of administration, distribution channel, and region.

The drugs segment upheld a 54.2% share in 2023 due to the growing demand for effective treatments for various conditions, such as infections, allergies, and chronic diseases in pets. This segment benefits from continuous advancements in veterinary pharmaceuticals and increasing awareness among pet owners about the importance of medical care for animals. As more pet owners prioritize preventive and therapeutic care, the need for innovative drugs to address a wide range of health issues will dominate the market.

The dog segment will grow at a 7.4% CAGR through 2032, driven by the high number of dog owners and the increasing demand for veterinary care. Dogs often require regular treatments for infections, allergies, and chronic conditions like arthritis, making them a primary focus of veterinary pharmaceutical companies. With a growing emphasis on preventive care, vaccinations, and advanced treatments, the demand for drugs specifically tailored to dogs will remain strong, contributing to the market expansion.

North America will expand to USD 14.5 billion by 2032, owing to its well-established pet healthcare infrastructure, high pet ownership rates, and growing awareness of animal health. The region benefits from a strong presence of veterinary pharmaceutical companies and advanced research facilities, driving innovation in pet medications. Besides, increasing expenditures on pet care and the widespread availability of pet insurance further support market growth. North America's robust veterinary ecosystem makes it a notable contributor to the companion animal drugs market.

Product Code: 4981

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 Sante 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.