Global Companion Animal Healthcare Market

Companion Animal Healthcare Market Size, Share, Growth Analysis, By Type(Pharmaceuticals, Vaccines), By Application(Veterinary Hospitals, Veterinary Clinics) - Industry Forecast 2024-2031


Report ID: SQMIG35E2026 | Region: Global | Published Date: February, 2024
Pages: 157 | Tables: 65 | Figures: 75

Companion Animal Healthcare Market Insights

Companion Animal Healthcare Market size was valued at USD 21.5 billion in 2021 and is poised to grow from USD 23.31 billion 2022 to USD 44.43 billion by 2030, growing at a CAGR of 8.4% during the forecast period (2023-2030).

The global companion animal healthcare market has experienced significant growth in recent years. Companion animals, including dogs, cats, and horses, play an integral role in the lives of millions of people worldwide, leading to a rise in demand for high-quality healthcare products and services for their well-being. As more people consider their pets as family members, the demand for advanced veterinary care, preventive medications, and therapeutic treatments has surged. Pet owners are now more willing to spend on veterinary services, including routine check-ups, vaccinations, and specialized treatments, thereby boosting the demand for companion animal healthcare products. Pet owners are becoming more conscious about the overall well-being of their animals, leading to an increased emphasis on preventive healthcare measures. This has led to a surge in the demand for products such as vaccines, flea and tick control treatments, and nutritional supplements. Furthermore, advancements in veterinary diagnostics and the availability of innovative products have facilitated early disease detection and improved treatment outcomes.

US Companion Animal Healthcare Market is poised to grow at a sustainable CAGR for the next forecast year.

Market snapshot - 2024-2031

Global Market Size

USD 21.5 billion

Largest Segment

Pharmaceuticals

Fastest Growth

Pharmaceuticals

Growth Rate

8.4% CAGR

Global Companion Animal Healthcare Market By Country ($ Bn)
Country Share for North America Region (%)
Global Companion Animal Healthcare Market By Type ($ Bn)
Global Companion Animal Healthcare Market By Type (%)

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Companion Animal Healthcare Market Segmental Analysis

The Global Companion Animal Healthcare Market is segmented by type, application, and region. Based on type, the market can be segmented into Pharmaceuticals, Vaccines, Feed Additives, Diagnostics and Others. Based on application, the market is segmented into Veterinary Hospitals, Veterinary Clinics, Pharmacies & Drug Stores, Online Pharmacies and Others. Based on region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.

Companion Animal Healthcare Marke Analysis by Type

In the global Companion Animal Healthcare market, the dominant type is Pharmaceuticals. Pharmaceuticals play a crucial role in companion animal healthcare by providing medications for various ailments and diseases. These medications include antibiotics, anti-inflammatory drugs, parasiticides, and pain management drugs, among others. The pharmaceutical segment holds a significant market share due to the high demand for effective treatment options and the growing awareness of the importance of healthcare for companion animals.

On the other hand, the fastest growing type in the global Companion Animal Healthcare market is Vaccines. Vaccination is a critical aspect of preventive healthcare for companion animals, helping to protect them from various infectious diseases. With the increasing emphasis on preventive healthcare measures and the rising pet population worldwide, the demand for vaccines is growing rapidly. Vaccines not only prevent diseases but also contribute to reducing the transmission of certain diseases from animals to humans, reinforcing their importance in companion animal healthcare.

Companion Animal Healthcare Marke Analysis by Application

In the global companion animal healthcare market, the most dominant application segment is veterinary clinics. Veterinary clinics play a crucial role in providing comprehensive healthcare services to companion animals, including medical consultations, diagnostics, surgeries, vaccinations, and preventive care. These clinics serve as primary healthcare providers and offer a range of services for pets, making them the dominant application segment in the market.

As for the fastest-growing application segment in the global companion animal healthcare market, online pharmacies are experiencing rapid growth. With the increasing popularity and convenience of e-commerce, online pharmacies have gained traction as a preferred channel for purchasing companion animal healthcare products. Online pharmacies provide a wide range of veterinary medicines, supplements, and pet care products, often with competitive pricing and home delivery options. The ease of ordering and availability of a diverse product range contribute to the rapid growth of online pharmacies in the market.

Global Companion Animal Healthcare Market By Type, 2023 (%)

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Companion Animal Healthcare Market Regional Insights

In the global companion animal healthcare market, the most dominant region is North America. North America has a well-established and mature market for companion animal healthcare, driven by factors such as high pet ownership rates, advanced veterinary healthcare infrastructure, and increased spending on pet healthcare products and services. The region is home to a large number of key market players and veterinary hospitals, contributing to its dominant position in the global market.

On the other hand, the fastest-growing region in the global companion animal healthcare market is the Asia-Pacific (APAC) region. APAC is experiencing rapid urbanization, rising disposable incomes, and changing lifestyles, leading to an increased focus on pet ownership and pet healthcare. The growing awareness about pet health and the willingness to invest in companion animal healthcare products and services are driving the market's growth in this region. Additionally, improving veterinary healthcare infrastructure, expanding pet insurance coverage, and the availability of a wide range of companion animal healthcare products are further fueling market growth in APAC.

Global Companion Animal Healthcare Market By Geography, 2024-2031
  • Largest
  • Fastest

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Companion Animal Healthcare Market Dynamics

Companion Animal Healthcare Marke Drivers

Human-Animal Bond and Emotional Well-being

  • The deep emotional connection between humans and their companion animals is a key driver for the demand in high-quality healthcare services. Pet owners prioritize the well-being of their animals and are willing to invest in specialized care, medications, and supplements to ensure their pets' longevity and enhance their overall quality of life. This emotional bond fuels the growth of the companion animal healthcare market as pet owners seek comprehensive healthcare solutions.

Companion Animal Healthcare Marke Restraints

Lack of Veterinary Infrastructure

  • In certain regions, the availability and accessibility of companion animal healthcare services are limited due to a shortage of veterinary clinics and professionals. The inadequate veterinary infrastructure hampers the market's growth potential as it creates challenges in delivering healthcare services to companion animals. The scarcity of skilled personnel and clinics restricts the availability of healthcare options, hindering the market's expansion in those regions.

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Companion Animal Healthcare Market Competitive Landscape

The global companion animal healthcare market is highly competitive and comprises a wide range of players, including pharmaceutical companies, veterinary clinics, diagnostic laboratories, and pet healthcare product manufacturers. The market is driven by the increasing pet ownership rates, growing awareness about animal health, and the rising demand for advanced veterinary care.

Companion Animal Healthcare Marke Top Player’s Company Profiles

  • Boehringer Ingelheim GmbH (Germany)
  • Bayer AG (Germany)
  • Virbac (France)
  • Ceva Santé Animale (France)
  • Vetoquinol S.A. (France)
  • IDEXX Laboratories, Inc. (US)
  • Dechra Pharmaceuticals PLC (UK)
  • Norbrook Holdings Limited (UK)
  • Kindred Biosciences, Inc. (US)
  • Heska Corporation (US)
  • Phibro Animal Health Corporation (US)
  • Nutramax Laboratories Veterinary Sciences, Inc. (US)
  • Merial (Sanofi S.A.) (France)
  • Neogen Corporation (US)
  • PetIQ, Inc. (US)
  • AniCura AB (Sweden)
  • VCA Inc. (US)

Companion Animal Healthcare Marke Recent Developments

  • In June 2023, Zoetis Inc. launched a new oral vaccine for the prevention of canine influenza virus.
  • In May 2023, Merck Animal Health launched a new injectable vaccine for the prevention of canine distemper, adenovirus type 2, and parvovirus.
  • In April 2023, Elanco Animal Health launched a new chewable tablet for the treatment of heartworm disease in dogs.
  • In March 2023, Bayer AG launched a new topical treatment for the relief of itching and inflammation associated with allergic dermatitis in dogs.
  • In February 2023, Virbac launched a new oral medication for the treatment of feline hyperthyroidism.

Companion Animal Healthcare Key Market Trends

  • A key market trend in the global companion animal healthcare market is the growing focus on preventive healthcare for pets. Pet owners are increasingly recognizing the importance of maintaining their companion animals' overall health and well-being, rather than solely addressing illness or disease. This shift in mindset has led to a rise in the demand for preventive healthcare products and services, including vaccinations, regular check-ups, parasite control, and nutritional supplements for pets.

Companion Animal Healthcare Market SkyQuest Analysis

SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.

According to the Global Companion Animal Healthcare Market analysis, it is experiencing steady growth and is expected to continue its positive trajectory in the coming years. The market is driven by various factors, including the increasing adoption of companion animals, rising pet ownership, and growing awareness about animal health. The growing human-animal bond has led to a surge in pet ownership, with more individuals considering pets as part of their families. This has resulted in increased spending on healthcare products and services for companion animals, driving the demand for veterinary medicines, vaccines, diagnostics, and other healthcare solutions. Additionally, there is a growing awareness among pet owners regarding the importance of preventive healthcare and the need for regular veterinary check-ups. This has led to an increased demand for preventive medications and vaccines to ensure the well-being and longevity of companion animals. The report highlights this trend and emphasizes the significant role played by preventive care in the overall growth of the companion animal healthcare market. Furthermore, technological advancements and innovation in veterinary healthcare products are shaping the market landscape. The introduction of advanced diagnostics and imaging technologies has revolutionized disease detection and treatment in companion animals.

Report Metric Details
Market size value in 2023 USD 21.5 billion
Market size value in 2031 USD 44.43 billion
Growth Rate 8.4%
Forecast period 2024-2031
Forecast Unit (Value) USD Billion
Segments covered
  • Type
    • Pharmaceuticals, Vaccines, Feed Additives, Diagnostics and Others.
  • Application
    • Veterinary Hospitals, Veterinary Clinics, Pharmacies & Drug Stores, Online Pharmacies and Others.
Regions covered North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)
Companies covered
  • Boehringer Ingelheim GmbH (Germany)
  • Bayer AG (Germany)
  • Virbac (France)
  • Ceva Santé Animale (France)
  • Vetoquinol S.A. (France)
  • IDEXX Laboratories, Inc. (US)
  • Dechra Pharmaceuticals PLC (UK)
  • Norbrook Holdings Limited (UK)
  • Kindred Biosciences, Inc. (US)
  • Heska Corporation (US)
  • Phibro Animal Health Corporation (US)
  • Nutramax Laboratories Veterinary Sciences, Inc. (US)
  • Merial (Sanofi S.A.) (France)
  • Neogen Corporation (US)
  • PetIQ, Inc. (US)
  • AniCura AB (Sweden)
  • VCA Inc. (US)
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Table Of Content

Executive Summary

Market overview

  • Exhibit: Executive Summary – Chart on Market Overview
  • Exhibit: Executive Summary – Data Table on Market Overview
  • Exhibit: Executive Summary – Chart on Companion Animal Healthcare Market Characteristics
  • Exhibit: Executive Summary – Chart on Market by Geography
  • Exhibit: Executive Summary – Chart on Market Segmentation
  • Exhibit: Executive Summary – Chart on Incremental Growth
  • Exhibit: Executive Summary – Data Table on Incremental Growth
  • Exhibit: Executive Summary – Chart on Vendor Market Positioning

Parent Market Analysis

Market overview

Market size

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • SWOT Analysis

KEY MARKET INSIGHTS

  • Technology Analysis
    • (Exhibit: Data Table: Name of technology and details)
  • Pricing Analysis
    • (Exhibit: Data Table: Name of technology and pricing details)
  • Supply Chain Analysis
    • (Exhibit: Detailed Supply Chain Presentation)
  • Value Chain Analysis
    • (Exhibit: Detailed Value Chain Presentation)
  • Ecosystem Of the Market
    • Exhibit: Parent Market Ecosystem Market Analysis
    • Exhibit: Market Characteristics of Parent Market
  • IP Analysis
    • (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
  • Trade Analysis
    • (Exhibit: Data Table: Import and Export data details)
  • Startup Analysis
    • (Exhibit: Data Table: Emerging startups details)
  • Raw Material Analysis
    • (Exhibit: Data Table: Mapping of key raw materials)
  • Innovation Matrix
    • (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
  • Pipeline product Analysis
    • (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
  • Macroeconomic Indicators

COVID IMPACT

  • Introduction
  • Impact On Economy—scenario Assessment
    • Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
  • Revised Market Size
    • Exhibit: Data Table on Companion Animal Healthcare Market size and forecast 2021-2027 ($ million)
  • Impact Of COVID On Key Segments
    • Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
  • COVID Strategies By Company
    • Exhibit: Analysis on key strategies adopted by companies

MARKET DYNAMICS & OUTLOOK

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • Regulatory Landscape
    • Exhibit: Data Table on regulation from different region
  • SWOT Analysis
  • Porters Analysis
    • Competitive rivalry
      • Exhibit: Competitive rivalry Impact of key factors, 2021
    • Threat of substitute products
      • Exhibit: Threat of Substitute Products Impact of key factors, 2021
    • Bargaining power of buyers
      • Exhibit: buyers bargaining power Impact of key factors, 2021
    • Threat of new entrants
      • Exhibit: Threat of new entrants Impact of key factors, 2021
    • Bargaining power of suppliers
      • Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
  • Skyquest special insights on future disruptions
    • Political Impact
    • Economic impact
    • Social Impact
    • Technical Impact
    • Environmental Impact
    • Legal Impact

Market Size by Region

  • Chart on Market share by geography 2021-2027 (%)
  • Data Table on Market share by geography 2021-2027(%)
  • North America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • USA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Canada
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Europe
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Germany
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Spain
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • France
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • UK
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Europe
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Asia Pacific
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • China
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • India
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Japan
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Korea
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Asia Pacific
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Latin America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Brazil
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of South America
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Middle East & Africa (MEA)
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • GCC Countries
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Africa
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of MEA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)

KEY COMPANY PROFILES

  • Competitive Landscape
    • Total number of companies covered
      • Exhibit: companies covered in the report, 2021
    • Top companies market positioning
      • Exhibit: company positioning matrix, 2021
    • Top companies market Share
      • Exhibit: Pie chart analysis on company market share, 2021(%)

Methodology

For the Companion Animal Healthcare Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:

1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.

2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Companion Animal Healthcare Market.

3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.

4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.

Analyst Support

Customization Options

With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Companion Animal Healthcare Market:

Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.

Regional Analysis: Further analysis of the Companion Animal Healthcare Market for additional countries.

Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.

Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.

Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.

Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.

Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.

Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.

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FAQs

Companion Animal Healthcare Market size was valued at USD 21.5 billion in 2021 and is poised to grow from USD 23.31 billion 2022 to USD 44.43 billion by 2030, growing at a CAGR of 8.4% during the forecast period (2023-2030).

The companion animal healthcare market is highly competitive and comprises a wide range of players, including pharmaceutical companies, veterinary clinics, diagnostic laboratories, and pet healthcare product manufacturers. The market is driven by the increasing pet ownership rates, growing awareness about animal health, and the rising demand for advanced veterinary care. 'Zoetis Inc. (US)', 'Merck & Co., Inc. (US)', 'Elanco Animal Health Incorporated (US)', 'Boehringer Ingelheim GmbH (Germany)', 'Bayer AG (Germany)', 'Virbac (France)', 'Ceva Santé Animale (France)', 'Vetoquinol S.A. (France)', 'IDEXX Laboratories, Inc. (US)', 'Dechra Pharmaceuticals PLC (UK)', 'Norbrook Holdings Limited (UK)', 'Kindred Biosciences, Inc. (US)', 'Heska Corporation (US)', 'Phibro Animal Health Corporation (US)', 'Nutramax Laboratories Veterinary Sciences, Inc. (US)', 'Merial (Sanofi S.A.) (France)', 'Neogen Corporation (US)', 'PetIQ, Inc. (US)', 'AniCura AB (Sweden)', 'VCA Inc. (US)'

The deep emotional connection between humans and their companion animals is a key driver for the demand in high-quality healthcare services. Pet owners prioritize the well-being of their animals and are willing to invest in specialized care, medications, and supplements to ensure their pets' longevity and enhance their overall quality of life. This emotional bond fuels the growth of the companion animal healthcare market as pet owners seek comprehensive healthcare solutions.

A key market trend in the companion animal healthcare market is the growing focus on preventive healthcare for pets. Pet owners are increasingly recognizing the importance of maintaining their companion animals' overall health and well-being, rather than solely addressing illness or disease. This shift in mindset has led to a rise in the demand for preventive healthcare products and services, including vaccinations, regular check-ups, parasite control, and nutritional supplements for pets.

In the companion animal healthcare market, the most dominant region is North America. North America has a well-established and mature market for companion animal healthcare, driven by factors such as high pet ownership rates, advanced veterinary healthcare infrastructure, and increased spending on pet healthcare products and services. The region is home to a large number of key market players and veterinary hospitals, contributing to its dominant position in the market.

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Global Companion Animal Healthcare Market

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