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PUBLISHER: Grand View Research | PRODUCT CODE: 1529893
PUBLISHER: Grand View Research | PRODUCT CODE: 1529893
U.S. Companion Animal Health Market Size, Share & Trends Analysis Report, By Animal Type (Dogs, Cats), By Product (Vaccines, Pharmaceuticals, Supplements), By Distribution Channel, By End Use, And Segment Forecasts, 2024 - 2030
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U.S. Companion Animal Health Market Growth & Trends:
The U.S. companion animal health market was estimated at USD 20.7 billion in 2030 and is expected to expand at a CAGR of 7.93% from 2024 to 2030. The rising number of pet owners seeking better healthcare services, healthier quality foods, and high-end grooming and training services for their companion animals is a major driver for this market. According to theNational Pet Owners Survey, 90.5 million families in the U.S. own a pet, out of which 69.0 million own a dog. Moreover, high-income families amounted to approximately 60% of the total spending. In recent years, pet adoption has shown immense growth. This is primarily attributed to the fact that people are healthier and happier in the presence of pets, as found by the Human-Animal Bond Research Initiative Foundation (HABRI).
With the rising adoption of companion animals and growing concerns over their health, there comes a direct association with pet insurance. Presently, pet insurance accounts for a small segment in the insurance industry. The Covid-19 pandemic positively impacted the market growth in the U.S. Key players such as Boehringer Ingelheim Animal Health, Chewy, Elanco, MWI Animal Health, Covetrus, and PetIQ focused on expanding their telemedicine solutions into the market as governments relaxed governance to enable more flexible veterinary examinations during the coronavirus pandemic.
Approval of novel therapeutics and companion animal vaccines continues to present this market with lucrative growth opportunities. Ongoing trends for the adoption of e-commerce, pet insurance, veterinary telemedicine, point of care diagnostic testing, and digitalization of veterinary practices are further accelerated by the crisis of COVID-19.
Groundbreaking technological advances are rapidly transforming the pet health industry. These expansions are maximizing the potential for growth. Companies are taking strategic initiatives in pet health, such as the adoption of big data, wearable technologies to monitor pet health, and the inclusion of stem cell therapy. Moreover, established players are focusing on expanding their portfolios. For instance, Elanco acquired Bayer AG's animal health business unit in August 2019.
The U.S. captured a substantial share of the market. The share attained by this country is primarily a consequence of the presence of prominent market players undertaking extensive expansion strategies. Moreover, the increasing number of R&D investments initiated by the companies is one of the key potential growth factors presumed to be responsible for the sizeable share garnered by the U.S.
U.S. Companion Animal Health Market Report Highlights:
- Based on animal type, the dog segment held the dominant share in 2022 due to the increasing spending on pet care, specifically in developed regions
- By product, the pharmaceuticals segment is expected to gain popularity in the coming years owing to the growing demand to increase pet longevity and rising R&D activities
- On the basis of distribution channel, the e-commerce segment is anticipated to witness rapid growth over the forecast period due to the increased convenience offered to pet owners
- The veterinary hospitals and clinics end-use segment held the largest revenue share of over 80.0% in 2022 due to the growing demand for services such as clinical pathology, toxicology tests, and therapy
- Vetiquinol S.A., Zoetis, Merck, Ceva Sante Animale, Boehringer Ingelheim GmbH, and Elanco are some of the major market participants due to their product offerings and strong regional presence
- Companies are adopting various strategies to gain competitive advantages, such as new product development, partnerships, mergers and acquisitions, collaborations, and regional expansion
Product Code: GVR-3-68038-960-9
Table of Contents
Chapter 1. Methodology and Scope
- 1.1. Market Segmentation & Scope
- 1.2. Segment Definitions
- 1.2.1. Animal Type
- 1.2.2. Product
- 1.2.3. Distribution Channel
- 1.2.4. End Use
- 1.2.5. Estimates and forecasts timeline
- 1.3. Research Methodology
- 1.4. Information Procurement
- 1.4.1. Purchased database
- 1.4.2. GVR's internal database
- 1.4.3. Secondary sources
- 1.4.4. Primary research
- 1.5. Information or Data Analysis
- 1.5.1. Data analysis models
- 1.6. Market Formulation & Validation
- 1.7. Model Details
- 1.7.1. Commodity flow analysis (Model 1)
- 1.7.2. Volume price analysis (Model 2)
- 1.8. List of Secondary Sources
- 1.9. List of Primary Sources
- 1.10. Objectives
Chapter 2. Executive Summary
- 2.1. Market Outlook
- 2.2. Segment Outlook
- 2.2.1. Animal Type Outlook
- 2.2.2. Product outlook
- 2.2.3. Distribution Channel Outlook
- 2.2.4. End Use Outlook
- 2.3. Competitive Insights
Chapter 3. U.S. Companion Animal Health Market Variables, Trends & Scope
- 3.1. Market Lineage Outlook
- 3.1.1. Parent market outlook
- 3.1.2. Related/ancillary market outlook
- 3.2. Market Dynamics
- 3.2.1. Market driver analysis
- 3.2.1.1. Rising prevalence of pet diseases
- 3.2.1.2. Growing uptake of pet insurance
- 3.2.1.3. Increase in pet population
- 3.2.2. Market restraint analysis
- 3.2.2.1. High cost of treatment
- 3.2.1. Market driver analysis
- 3.3. U.S. Companion Animal Health Analysis Tools
- 3.3.1. Industry Analysis - Porter's Five Forces
- 3.3.1.1. Supplier power
- 3.3.1.2. Buyer power
- 3.3.1.3. Substitution threat
- 3.3.1.4. Threat of new entrant
- 3.3.1.5. Competitive rivalry
- 3.3.2. PESTEL Analysis
- 3.3.2.1. Political landscape
- 3.3.2.2. Technological landscape
- 3.3.2.3. Economic landscape
- 3.3.1. Industry Analysis - Porter's Five Forces
Chapter 4. U.S. Companion Animal Health Market: Animal Type Estimates & Trend Analysis
- 4.1. Animal Type Market Share, 2023 & 2030
- 4.2. Segment Dashboard
- 4.3. U.S. Companion Animal Health by Animal Type Outlook
- 4.4. Market Size & Forecasts and Trend Analyses, 2018 to 2030 for the Following
- 4.4.1. Dogs
- 4.4.1.1. Dogs market estimates and forecasts 2018 to 2030 (USD Million)
- 4.4.2. Cats
- 4.4.2.1. Cats market estimates and forecasts 2018 to 2030 (USD Million)
- 4.4.1. Dogs
Chapter 5. U.S. Companion Animal Health Market: Product Estimates & Trend Analysis
- 5.1. Product Market Share, 2023 & 2030
- 5.2. Segment Dashboard
- 5.3. U.S. Companion Animal Health by Product Outlook
- 5.4. Market Size & Forecasts and Trend Analyses, 2018 to 2030 for the Following
- 5.4.1. Vaccines
- 5.4.1.1. Vaccines market estimates and forecasts 2018 to 2030 (USD Million)
- 5.4.2. Pharmaceuticals
- 5.4.2.1. Pharmaceuticals market estimates and forecasts 2018 to 2030 (USD Million)
- 5.4.2.2. OTC
- 5.4.2.2.1. OTC market estimates and forecasts 2018 to 2030 (USD Million)
- 5.4.2.3. Prescription
- 5.4.2.3.1. Prescription market estimates and forecasts 2018 to 2030 (USD Million)
- 5.4.3. Supplements
- 5.4.3.1. Supplements market estimates and forecasts 2018 to 2030 (USD Million)
- 5.4.4. Diagnostics
- 5.4.4.1. Diagnostics market estimates and forecasts 2018 to 2030 (USD Million)
- 5.4.5. Others
- 5.4.5.1. Others market estimates and forecasts 2018 to 2030 (USD Million)
- 5.4.1. Vaccines
Chapter 6. U.S. Companion Animal Health Market: Distribution Channel Estimates & Trend Analysis
- 6.1. Distribution Channel Market Share, 2023 & 2030
- 6.2. Segment Dashboard
- 6.3. U.S. Companion Animal Health by Distribution Channel Outlook
- 6.4. Market Size & Forecasts and Trend Analyses, 2018 to 2030 for the Following
- 6.4.1. Retail
- 6.4.1.1. Retail market estimates and forecasts 2018 to 2030 (USD Million)
- 6.4.2. E-commerce
- 6.4.2.1. E-commerce market estimates and forecasts 2018 to 2030 (USD Million)
- 6.4.3. Hospital/ Clinic Pharmacies
- 6.4.3.1. Hospital/ Clinic Pharmacies market estimates and forecasts 2018 to 2030 (USD Million)
- 6.4.3.2. Independent
- 6.4.3.2.1. Independent market estimates and forecasts 2018 to 2030 (USD Million)
- 6.4.3.3. Corporate
- 6.4.3.3.1. Corporate market estimates and forecasts 2018 to 2030 (USD Million)
- 6.4.1. Retail
Chapter 7. U.S. Companion Animal Health Market: End Use Estimates & Trend Analysis
- 7.1. End Use Market Share, 2023 & 2030
- 7.2. Segment Dashboard
- 7.3. U.S. Companion Animal Health by End Use Outlook
- 7.4. Market Size & Forecasts and Trend Analyses, 2018 to 2030 for the Following
- 7.4.1. Hospitals & Clinics
- 7.4.1.1. Hospitals & Clinics market estimates and forecasts 2018 to 2030 (USD Million)
- 7.4.2. Point-of-Care
- 7.4.2.1. Point-of-Care market estimates and forecasts 2018 to 2030 (USD Million)
- 7.4.3. Others
- 7.4.3.1. Others market estimates and forecasts 2018 to 2030 (USD Million)
- 7.4.1. Hospitals & Clinics
Chapter 8. Competitive Landscape
- 8.1. Recent Developments & Impact Analysis, By Key Market Participants
- 8.2. Company/Competition Categorization
- 8.3. Vendor Landscape
- 8.3.1. List of key distributors and channel partners
- 8.3.2. Key customers
- 8.3.3. Key company heat map analysis, 2023
- 8.4. Company Profiles
- 8.4.1. Merck & Co., Inc.
- 8.4.1.1. Company overview
- 8.4.1.2. Financial performance
- 8.4.1.3. Product benchmarking
- 8.4.1.4. Strategic initiatives
- 8.4.2. Elanco
- 8.4.2.1. Company overview
- 8.4.2.2. Financial performance
- 8.4.2.3. Product benchmarking
- 8.4.2.4. Strategic initiatives
- 8.4.3. Boehringer Ingelheim GmbH
- 8.4.3.1. Company overview
- 8.4.3.2. Financial performance
- 8.4.3.3. Product benchmarking
- 8.4.3.4. Strategic initiatives
- 8.4.4. Ceva Sante Animale
- 8.4.4.1. Company overview
- 8.4.4.2. Financial performance
- 8.4.4.3. Product benchmarking
- 8.4.4.4. Strategic initiatives
- 8.4.5. Zoetis
- 8.4.5.1. Company overview
- 8.4.5.2. Financial performance
- 8.4.5.3. Product benchmarking
- 8.4.5.4. Strategic initiatives
- 8.4.6. Virbac
- 8.4.6.1. Company overview
- 8.4.6.2. Financial performance
- 8.4.6.3. Product benchmarking
- 8.4.6.4. Strategic initiatives
- 8.4.7. IDEXX Laboratories, Inc.
- 8.4.7.1. Company overview
- 8.4.7.2. Financial performance
- 8.4.7.3. Product benchmarking
- 8.4.7.4. Strategic initiatives
- 8.4.8. Mars Inc.
- 8.4.8.1. Company overview
- 8.4.8.2. Financial performance
- 8.4.8.3. Product benchmarking
- 8.4.8.4. Strategic initiatives
- 8.4.9. Dechra Pharmaceuticals Plc
- 8.4.9.1. Company overview
- 8.4.9.2. Financial performance
- 8.4.9.3. Product benchmarking
- 8.4.9.4. Strategic initiatives
- 8.4.10. Vetoquinol S.A.
- 8.4.10.1. Company overview
- 8.4.10.2. Financial performance
- 8.4.10.3. Product benchmarking
- 8.4.10.4. Strategic initiatives
- 8.4.1. Merck & Co., Inc.
Product Code: GVR-3-68038-960-9
List of Tables
- Table 1 List of secondary sources
- Table 2 List of abbreviation
- Table 3 U.S. companion animal health market, by animal type, 2018 - 2030 (USD Million)
- Table 4 U.S. companion animal health market, by product, 2018 - 2030 (USD Million)
- Table 5 U.S. companion animal health market, by distribution channel, 2018 - 2030 (USD Million)
- Table 6 U.S. companion animal health market, by end use, 2018 - 2030 (USD Million)
- Table 7 Key companies undergoing expansions
- Table 8 Key companies undergoing acquisitions
- Table 9 Key companies undergoing collaborations
- Table 10 Key companies launching new products/services
- Table 11 Key companies undertaking other strategies
List of Figures
- Fig. 1 Market research process
- Fig. 2 Data triangulation techniques
- Fig. 3 Primary research pattern
- Fig. 4 Market research approaches
- Fig. 5 Value-chain-based sizing & forecasting
- Fig. 6 QFD modeling for market share assessment
- Fig. 7 Market formulation & validation
- Fig. 8 U.S. Companion Animal Health: market outlook
- Fig. 9 Parent market outlook
- Fig. 10 Related/ancillary market outlook
- Fig. 11 Penetration and growth prospect mapping
- Fig. 12 U.S. Companion Animal Health market driver impact
- Fig. 13 U.S. Companion Animal Health market restraint impact
- Fig. 14 U.S. Companion Animal Health market: Animal Type movement analysis
- Fig. 15 U.S. Companion Animal Health market: Animal Type outlook and key takeaways
- Fig. 16 Dogs market estimates and forecast, 2018 - 2030 (USD Million)
- Fig. 17 Cats market estimates and forecast, 2018 - 2030 (USD Million)
- Fig. 18 U.S. Companion Animal Health market: Product movement analysis
- Fig. 19 U.S. Companion Animal Health market: Product outlook and key takeaways
- Fig. 20 Vaccines market estimates and forecast, 2018 - 2030 (USD Million)
- Fig. 21 Pharmaceuticals estimates and forecast, 2018 - 2030 (USD Million)
- Fig. 22 OTC market estimates and forecast, 2018 - 2030 (USD Million)
- Fig. 23 Prescription market estimates and forecast, 2018 - 2030 (USD Million)
- Fig. 24 Supplements market estimates and forecast, 2018 - 2030 (USD Million)
- Fig. 25 Diagnostics market estimates and forecast, 2018 - 2030 (USD Million)
- Fig. 26 Others market estimates and forecast, 2018 - 2030 (USD Million)
- Fig. 27 U.S. Companion Animal Health market: Distribution Channel movement analysis
- Fig. 28 U.S. Companion Animal Health market: Distribution Channel outlook and key takeaways
- Fig. 29 Retail market estimates and forecast, 2018 - 2030 (USD Million)
- Fig. 30 E-commerce market estimates and forecast, 2018 - 2030 (USD Million)
- Fig. 31 Hospital/Clinic Pharmacies market estimates and forecast, 2018 - 2030 (USD Million)
- Fig. 32 Independent market estimates and forecast, 2018 - 2030 (USD Million)
- Fig. 33 Corporate market estimates and forecast, 2018 - 2030 (USD Million)
- Fig. 34 U.S. Companion Animal Health market: End Use movement analysis
- Fig. 35 U.S. Companion Animal Health market: End Use outlook and key takeaways
- Fig. 36 Hospitals & Clinics market estimates and forecast, 2018 - 2030 (USD Million)
- Fig. 37 Point-of-Care market estimates and forecast, 2018 - 2030 (USD Million)
- Fig. 38 Others market estimates and forecast, 2018 - 2030 (USD Million)
- Fig. 39 Market share of key market players - U.S. Companion Animal Health Market
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