Companion Animal Pharmaceuticals Market by Product, Indication, Animal Type, Distribution Channel

Description

List of Tables

[181 Pages Report] The Companion Animal Pharmaceuticals Market size was estimated at USD 14.73 billion in 2023 and expected to reach USD 16.15 billion in 2024, at a CAGR 9.71% to reach USD 28.21 billion by 2030.

Companion animal pharmaceuticals encompasses the branch of veterinary medicine that is involved in the discovery, development, production, and marketing of drugs for pets, such as dogs, cats, and horses. These pharmaceuticals are designed to treat or prevent a wide range of conditions, from chronic diseases such as diabetes to acute infections or infestations, enhancing the health and well-being of companion animals. As companion animals become more integral to families, there is a rise in the demand for their healthcare. The prevalence of diseases transferable between animals and humans prompts more vigilant healthcare practices for companion animals. However, navigating through rigorous approval processes for new drugs can be time-consuming and costly, impeding the process of drug and pharmaceutical development. Research into cost-effective generic alternatives to branded medication can open up new market segments. Veterinary pharmaceutical companies are expanding into tailored treatment plans based on individual animal genetics, and biometrics can differentiate offerings. Moreover, there have been significant investments in the development of new vaccines and biologic treatments for various diseases.

KEY MARKET STATISTICS
Base Year [2023]	USD 14.73 billion
Estimated Year [2024]	USD 16.15 billion
Forecast Year [2030]	USD 28.21 billion
CAGR (%)	9.71%

Product: Diverse range of analgesics to treat general and chronic pain in companion animals

Medicated feed additives are substances mixed with animal feed to treat or prevent diseases and improve animal health. These additives include vitamins, amino acids, antibiotics, and various other drugs that specifically target health issues in companion animals. The need for medicated feed additives arises when there is a requirement for direct incorporation of medication through the animal's diet, ensuring regular intake and adherence to the medication schedule. Vaccines play a pivotal role in preventing infectious diseases in companion animals. They work by stimulating the immune response to fight off pathogens and are often administered based on an animal's age, lifestyle, and geographic exposure to specific diseases.

Analgesics are medications used to relieve pain in companion animals without causing sedation or anesthesia. They are commonly prescribed for chronic conditions, including osteoarthritis, post-surgical pain management, or acute injuries. Anti-infectives comprise a range of drugs, including antibiotics, antifungals, and antivirals, that are used to treat infections in companion animals. Anti-inflammatory drugs are widely used to reduce inflammation and swelling in pets, and they are crucial for conditions such as dermatitis and gastrointestinal diseases and for post-operative care. Parasiticides are agents used to eliminate parasites from companion animals such as fleas, ticks, mites, and worms. Demand for these products typically peaks during warmer months when parasites are most active.

Indication: Rising focus on developing advanced pharmaceuticals for antimicrobial resistance and infectious diseases in companion animals

Behavioral disorders in companion animals can range from conditions such as anxiety, depression, and compulsive behavior to more severe manifestations such as aggression or separation anxiety. Skin conditions in pets are common and can be due to allergies, infections, or parasites. Skin infections require pharmaceutical products that offer quick relief of symptoms and target underlying causes with minimal systemic effects. Topicals, shampoos, and systemic treatments, including oral antihistamines, steroids, and immune-modulating drugs, are used. Infectious diseases in companion animals caused by bacteria, viruses, fungi, or parasites require treatments that are highly effective and have a broad spectrum of activity, which includes antibiotics, antifungals, antivirals, and parasite-specific medications. Orthopedic ailments, including osteoarthritis and joint injuries in pets, necessitate treatments that can manage pain and inflammation and preserve joint function and mostly require treatments with non-steroidal anti-inflammatory drugs (NSAIDs) and newer therapies such as polysulfated glycosaminoglycans. Pain management in companion animals is critical for both acute and chronic conditions. The need for pain medications is to provide immediate relief, ideally without significant side effects. This includes opioid analgesics, NSAIDs, and adjunctive therapies, including gabapentin.

Animal Type: Increased adoption of dogs as companion animals and rising expenditure on their treatments

Cats are prone to certain conditions such as feline immunodeficiency virus (FIV), feline leukemia virus (FeLV), arthritis, and dental diseases, necessitating tailored pharmaceutical solutions. The canine pharmaceutical market is extensive due to the variety of breeds and their associated health needs. This segment covers a broad spectrum of products, including vaccines, heartworm prevention, flea and tick treatments, anti-inflammatories, and behavioral health medications. The equine pharmaceutical market focuses on products that address the unique physiological and size considerations of horses. There is a significant demand for vaccines, reproductive health treatments, and musculoskeletal system medications, including anti-inflammatories and pain management drugs. Dogs generally have the most diversified need for pharmaceuticals across all health categories, supported by the largest range of products and manufacturers. The feline pharmaceutical market is more niche but is growing, with an increasing recognition of the subtler signs of chronic conditions in cats and the development of specialized treatments. The equine market, while smaller in volume, commands higher unit prices due to the larger dosages required and the bespoke nature of many treatments.

Distribution Channel: Enhanced accessibility and convenience of attaining companion animal pharmaceuticals through online channels

Online pharmacies provide a convenient platform for pet owners to purchase medications. These channels are favored for their 24/7 availability, competitive pricing, and home delivery services. Online pharmacies are particularly appealing to consumers who prioritize convenience and those who may not have immediate access to physical stores or veterinary services. Retail pharmacies are another vital point of sale for companion animal pharmaceuticals. They offer on-spot expert advice and immediate product availability. Customers who prefer in-person interaction or are seeking urgent medications often choose retail pharmacies. Veterinary clinics remain a trusted source of pharmaceuticals for pet owners, largely due to the personal and professional service provided by veterinarians. By dispensing medications on-site, clinics offer a level of convenience and immediacy for prescription fulfillment after consultation, as well as the assurance of professional guidance. These clinics typically source their products directly from manufacturers or through veterinary-focused distributors. Veterinary hospitals provide comprehensive medical care and stock a more extensive range of companion animal pharmaceuticals, including specialized and emergency medications. These establishments are preferred for complex health issues requiring advanced treatment and immediate onsite access to a variety of drugs. Large animal hospital chains often partner with manufacturers to ensure a steady supply of critical medications.

Regional Insights

In the Americas, there is a high usage rate of companion animal pharmaceuticals, reflecting the substantial pet population and pet owners' inclination towards advanced veterinary care. The Americas demonstrates robust production capabilities, with many major pharmaceutical companies operating within the region. The APAC region is witnessing a growing adoption of companion animals, which is fuelling the demand for animal health products. However, the usage pattern is diversified with higher growth in countries such as Japan, Australia, and South Korea, compared to emerging markets where awareness and expenditure on animal health are still developing. Countries such as China and India are emerging as significant manufacturing hubs due to lower production costs and improving quality standards. There is also a notable investment in R&D, particularly in countries with a strong pharmaceutical industry in Asia. In Europe, there is a well-established market for companion animal pharmaceuticals characterized by stringent regulatory standards and a focus on safety and efficacy. The usage is marked by a high demand for chronic disease management products alongside preventive medications. The European region has well-established production facilities with a focus on high-quality standards compliant with the European Medicines Agency (EMA) regulations.

FPNV Positioning Matrix

The FPNV Positioning Matrix is pivotal in evaluating the Companion Animal Pharmaceuticals Market. It offers a comprehensive assessment of vendors, examining key metrics related to Business Strategy and Product Satisfaction. This in-depth analysis empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital (V).

Market Share Analysis

The Market Share Analysis is a comprehensive tool that provides an insightful and in-depth examination of the current state of vendors in the Companion Animal Pharmaceuticals Market. By meticulously comparing and analyzing vendor contributions in terms of overall revenue, customer base, and other key metrics, we can offer companies a greater understanding of their performance and the challenges they face when competing for market share. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With this expanded level of detail, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.

Key Company Profiles

The report delves into recent significant developments in the Companion Animal Pharmaceuticals Market, highlighting leading vendors and their innovative profiles. These include Alivira Animal Health Limited, Ashish Life Science Pvt. Ltd., Boehringer Ingelheim International GmbH, Century Pharmaceuticals Ltd., Ceva Sante Animale, Chanelle Pharma, Dechra Pharmaceuticals PLC, Eco Animal Health Group PLC, Elanco Animal Health Incorporated, Endovac Animal Health, LLC, Hester Biosciences Limited, Hipra Laboratories, S.A., Indian Immunologicals Ltd., Kyoritsu Seiyaku Corporation, Lutim Pharma Pvt. Ltd., Meiji Group, Merck & Co. Inc., Neogen Corporation, Norbrook Laboratories Ltd., Orion Corporation, Phibro Animal Health Corporation, SkyEc Pharmaceuticals Private Limited, Stanex Drugs and Chemicals Pvt Ltd., Tianjin Ringpu Biotechnology Co., Ltd., Veko Care, Vetbiolix, Vetneeds Group, Virbac S.A., Zoetis Inc., and Zydus Animal Health.

Market Segmentation & Coverage

This research report categorizes the Companion Animal Pharmaceuticals Market to forecast the revenues and analyze trends in each of the following sub-markets:

Product
- Analgesics
- Anti-infectives
- Anti-inflammatory
- Medicated Feed Additives
- Parasiticides
- Vaccines

Indication
- Behavioral Disorders
- Dermatologic Diseases
- Infectious Diseases
- Orthopedic Diseases
- Pain

Animal Type
- Cats
- Dogs
- Horses

Distribution Channel
- Online Pharmacies
- Retail Pharmacies
- Veterinary Clinics
- Veterinary Hospitals

Region
- Americas
  - Argentina
  - Brazil
  - Canada
  - Mexico
  - United States
    - California
    - Florida
    - Illinois
    - New York
    - Ohio
    - Pennsylvania
    - Texas
- Asia-Pacific
  - Australia
  - China
  - India
  - Indonesia
  - Japan
  - Malaysia
  - Philippines
  - Singapore
  - South Korea
  - Taiwan
  - Thailand
  - Vietnam

Europe, Middle East & Africa
- Denmark
- Egypt
- Finland
- France
- Germany
- Israel
- Italy
- Netherlands
- Nigeria
- Norway
- Poland
- Qatar
- Russia
- Saudi Arabia
- South Africa
- Spain
- Sweden
- Switzerland
- Turkey
- United Arab Emirates
- United Kingdom

The report offers valuable insights on the following aspects:

1. Market Penetration: It presents comprehensive information on the market provided by key players.

2. Market Development: It delves deep into lucrative emerging markets and analyzes the penetration across mature market segments.

3. Market Diversification: It provides detailed information on new product launches, untapped geographic regions, recent developments, and investments.

4. Competitive Assessment & Intelligence: It conducts an exhaustive assessment of market shares, strategies, products, certifications, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players.

5. Product Development & Innovation: It offers intelligent insights on future technologies, R&D activities, and breakthrough product developments.

The report addresses key questions such as:

1. What is the market size and forecast of the Companion Animal Pharmaceuticals Market?

2. Which products, segments, applications, and areas should one consider investing in over the forecast period in the Companion Animal Pharmaceuticals Market?

3. What are the technology trends and regulatory frameworks in the Companion Animal Pharmaceuticals Market?

4. What is the market share of the leading vendors in the Companion Animal Pharmaceuticals Market?

5. Which modes and strategic moves are suitable for entering the Companion Animal Pharmaceuticals Market?

Product Code: MRR-FD3F12D52B58

1. Preface

1.1. Objectives of the Study
1.2. Market Segmentation & Coverage
1.3. Years Considered for the Study
1.4. Currency & Pricing
1.5. Language
1.6. Stakeholders

2. Research Methodology

2.1. Define: Research Objective
2.2. Determine: Research Design
2.3. Prepare: Research Instrument
2.4. Collect: Data Source
2.5. Analyze: Data Interpretation
2.6. Formulate: Data Verification
2.7. Publish: Research Report
2.8. Repeat: Report Update

3. Executive Summary

4. Market Overview

5. Market Insights

5.1. Market Dynamics
- 5.1.1. Drivers
  - 5.1.1.1. Increasing Prevalence of Zoonotic and Chronic Diseases
  - 5.1.1.2. Rising Number of Companion Animals and Awareness About their Hygiene
  - 5.1.1.3. Increasing Awareness and Expenditure Among People Regarding Animal Healthcare
- 5.1.2. Restraints
  - 5.1.2.1. Several Risk Factors Associated with Companion Animal Health APIs
- 5.1.3. Opportunities
  - 5.1.3.1. Development of New Drugs and Vaccines for Companion Animal
  - 5.1.3.2. Strategic Collaborations Along with Emergence of Market Players Across the Developing Economies
- 5.1.4. Challenges
  - 5.1.4.1. Stringent Regulations Associated with the Approval for Drugs
5.2. Market Segmentation Analysis
- 5.2.1. Product: Diverse range of analgesics to treat general and chronic pain in companion animals
- 5.2.2. Indication: Rising focus on developing advanced pharmaceuticals for antimicrobial resistance and infectious diseases in companion animals
- 5.2.3. Animal Type: Increased adoption of dogs as companion animals and rising expenditure on their treatments
- 5.2.4. Distribution Channel: Enhanced accessibility and convenience of attaining companion animal pharmaceuticals through online channels
5.3. Market Trend Analysis
5.4. Cumulative Impact of Russia-Ukraine Conflict
5.5. Cumulative Impact of High Inflation
5.6. Porter's Five Forces Analysis
- 5.6.1. Threat of New Entrants
- 5.6.2. Threat of Substitutes
- 5.6.3. Bargaining Power of Customers
- 5.6.4. Bargaining Power of Suppliers
- 5.6.5. Industry Rivalry
5.7. Value Chain & Critical Path Analysis
5.8. Regulatory Framework Analysis
5.9. Client Customization

6. Companion Animal Pharmaceuticals Market, by Product

6.1. Introduction
6.2. Analgesics
6.3. Anti-infectives
6.4. Anti-inflammatory
6.5. Medicated Feed Additives
6.6. Parasiticides
6.7. Vaccines

7. Companion Animal Pharmaceuticals Market, by Indication

7.1. Introduction
7.2. Behavioral Disorders
7.3. Dermatologic Diseases
7.4. Infectious Diseases
7.5. Orthopedic Diseases
7.6. Pain

8. Companion Animal Pharmaceuticals Market, by Animal Type

8.1. Introduction
8.2. Cats
8.3. Dogs
8.4. Horses

9. Companion Animal Pharmaceuticals Market, by Distribution Channel

9.1. Introduction
9.2. Online Pharmacies
9.3. Retail Pharmacies
9.4. Veterinary Clinics
9.5. Veterinary Hospitals

10. Americas Companion Animal Pharmaceuticals Market

10.1. Introduction
10.2. Argentina
10.3. Brazil
10.4. Canada
10.5. Mexico
10.6. United States

11. Asia-Pacific Companion Animal Pharmaceuticals Market

11.1. Introduction
11.2. Australia
11.3. China
11.4. India
11.5. Indonesia
11.6. Japan
11.7. Malaysia
11.8. Philippines
11.9. Singapore
11.10. South Korea
11.11. Taiwan
11.12. Thailand
11.13. Vietnam

12. Europe, Middle East & Africa Companion Animal Pharmaceuticals Market

12.1. Introduction
12.2. Denmark
12.3. Egypt
12.4. Finland
12.5. France
12.6. Germany
12.7. Israel
12.8. Italy
12.9. Netherlands
12.10. Nigeria
12.11. Norway
12.12. Poland
12.13. Qatar
12.14. Russia
12.15. Saudi Arabia
12.16. South Africa
12.17. Spain
12.18. Sweden
12.19. Switzerland
12.20. Turkey
12.21. United Arab Emirates
12.22. United Kingdom

13. Competitive Landscape

13.1. Market Share Analysis, 2023
13.2. FPNV Positioning Matrix, 2023
13.3. Competitive Scenario Analysis
- 13.3.1. Zoetis Officially Launches 2 FDA Approved Drugs in the US Veterinary Market
- 13.3.2. Therapeutics Developer Turns Its Focus To Companion Animal Health
- 13.3.3. Zoetis Announces the Completion of its Acquisition of Jurox, a Leading Provider of Livestock and Companion Animal Products

14. Competitive Portfolio

14.1. Key Company Profiles
14.2. Key Product Portfolio