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Companion Animal Pharmaceuticals Market: Size & Trends Shows A Rapid Growth By 2026

Companion Animal Pharmaceuticals Market: Scope by Indication (Infectious Diseases, Antibiotics, Parasiticides, Vaccines, Pain), Animal Type, Distribution Channel, COVID-19 Impact – Global Forecast to 2026

The global companion animal pharmaceuticals market is projected to reach USD 18.5 billion by 2026 from USD 12.8 billion in 2021, at a CAGR of 7.6% during the forecast period. Companion animals play an important role in the lives of many, providing a sense of belonging and responsibility. Animal health products, especially pharmaceuticals, are the most widely used products for animal healthcare. They contribute significantly to the health and wellbeing of animals. Companion animal ownership and expenditure have witnessed a significant increase over the years. Pet owners are spending more per pet than ever before. The increasing number of people having pets, emphasis on animal healthcare and vaccination, increasing demand for animal healthcare products, increasing number of veterinary practitioners and their rising income levels in developed economies, increasing prevalence of zoonotic diseases, growth in companion animal adoption, increasing prevalence of animal diseases, and rising demand for pet insurance are some of the factors driving the growth of these markets. However, the limited number of new antibiotics, rising pet care costs, growing resistance to antimicrobials and antibiotics, and rising cost of vaccine storage are restraining the growth of this market to a certain extent.

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The prominent players in the global companion animal pharmaceuticals market are Zoetis Inc. (US), Merck & Co., Inc. (US), Boehringer Ingelheim GmbH (Germany), Elanco Animal Health Incorporated (US), Ceva Santé Animale (France), Virbac (France), Vetoquinol S.A. (France), Dechra Pharmaceuticals plc (UK), Chanelle Pharma (Ireland), Kyoritsu Seiyaku (Japan), Zydus Animal Health and Investments Limited (India), Tianjin Ringpu Bio-Technology Co., Ltd. (China), HIPRA (Spain), Norbrook Holdings Limited (UK), Inovet (Belgium), Endovac Animal Health (US), ECO Animal Health Group plc (UK), Indian Immunologicals Ltd. (India), ALS Pvt. Ltd. (India), and Lutim Pharma Pvt. Ltd. (India).

“The dermatologic diseases segment to grow at the highest CAGR in the companion animal pharmaceuticals market, in the forecast period.”

Based on the prescription of pharmaceuticals for a number of disorders prevailing in animals, the companion animal pharmaceuticals market is segmented into infectious diseases, dermatologic diseases, orthopedic diseases, pain, behavioral disorders, and other indications. The dermatologic diseases segment is expected to grow at the highest CAGR during the forecast period. The increasing prevalence of arthritis, rising need for advanced orthopedic drugs, and growing pet population are some of the key factors driving the growth of this segment.

“The dogs segment holds the largest share in the animal type segment, in the forecast period.”

Based on animal type, the companion animal pharmaceuticals market is segmented into dogs, cats, horses, and other companion animals. The dogs segment accounted for the largest market share in 2020. The large share of this segment is attributed to the increasing dog population and rising ownership rate, increasing prevalence of zoonotic diseases and other skin allergies in dogs, rising canine healthcare expenditure, and the increasing number of pet insurers across the globe.

“Veterinary hospitals is expected to grow at the highest CAGR in the companion animal pharmaceuticals market by distribution channel segment in the forecast period”

Based on the distribution channel, the global companion animal pharmaceuticals market is segmented into veterinary hospitals, veterinary clinics, and retail pharmacies. The veterinary hospitals segment is expected to grow at the highest CAGR during the forecast period. The higher adoption of animal parasiticides and antibiotics in hospital settings, increasing incidence of infectious diseases, growing number of veterinary hospitals, growing ownership of companion animals, increasing veterinary expenditure, and growing awareness about animal health in developing countries, are some of the key factors driving the growth of this segment.

“North America holds the largest share in the companion animal pharmaceuticals market, by region, in the forecast period”

In 2020, North America accounted for the largest share of the companion animal pharmaceuticals market, followed by Europe, the Asia Pacific, Latin America, and the Middle East & Africa. The large share of North America can be attributed to the well-established base of animal health industries, the high adoption of companion animals, rising incidence of parasitic infections, the large number of hospitals and clinics, growing pool of veterinarians, and growing expenditure on animal health in the region. The growing number of research activities and funding and awareness campaigns in the field of veterinary health management is also expected to drive the growth of this market.

A breakdown of the primary participants for the companion animal pharmaceuticals market referred to for this report is provided below:

  • By Company Type: Tier 1–35%, Tier 2–45%, and Tier 3–20%
  • By Designation: C-level–35%, Director Level–25%, and Others–40%
  • By Region: North America–45%, Europe–30%, Asia Pacific–20%, Latin America – 3%, Middle East & Africa–2%

Research Coverage:

The report analyzes the market for various companion animal pharmaceuticals and their adoption pattern. It aims at estimating the market size and future growth potential of the global companion animal pharmaceuticals market and different segments such as indication, animal type, distribution channels, and region. The report also includes an in-depth competitive analysis of the key players in this market along with their company profiles, product & service offerings, and recent developments.

Reasons to Buy the Report

The report will enrich established firms as well as new entrants/smaller firms to gauge the pulse of the market, which, in turn, would help them garner a greater share. Firms purchasing the report could use one or any combination of the below-mentioned five strategies for strengthening their market presence.

This report provides insights on the following pointers:

  • Market Penetration: Comprehensive information on the product portfolios offered by the top players in the global companion animal pharmaceuticals market
  • Product Development/Innovation: Detailed insights on the upcoming trends, R&D activities, and product or service launches in the global companion animal pharmaceuticals market
  • Market Development: Comprehensive information on the lucrative emerging regions by indication, animal type, distribution channels, and region
  • Market Diversification: Exhaustive information about new products, growing geographies, and recent developments in the global companion animal pharmaceuticals market.
  • Competitive Assessment: In-depth assessment of market shares, growth strategies, revenue analysis, and products of leading players in the global companion animal pharmaceuticals market.

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Table Of Contents

1 Introduction
1.1 Objectives Of The Study
1.2 Market Definition
1.2.1 Inclusions & Exclusions Of The Study
1.2.2 Markets Covered
Figure 1 Companion Animal Pharmaceuticals Market Segmentation
1.2.3 Years Considered For The Study
1.3 Currency
Table 1 Exchange Rates Utilized For The Conversion To Usd
1.4 Stakeholders
1.5 Limitations

2 Research Methodology
2.1 Research Approach
Figure 2 Research Design
2.1.1 Secondary Research
2.1.1.1 Key Data From Secondary Sources
2.1.2 Primary Research
2.1.2.1 Primary Sources
2.1.2.2 Key Data From Primary Sources
2.1.2.3 Key Industry Insights
2.1.2.4 Breakdown Of Primaries
Figure 3 Breakdown Of Primary Interviews: By Company Type, Designation, And Region
2.2 Market Size Estimation
Figure 4 Market Size Estimation: Revenue Share Analysis
Figure 5 Revenue Share Analysis Illustration: Zoetis
Figure 6 Supply-Side Analysis Of The Companion Animal Pharmaceuticals Market
Figure 7 Market Analysis Approach
Figure 8 Us: Companion Animal Pharmaceuticals Market Approach
Figure 9 Top-Down Approach
Figure 10 Cagr Projections
Figure 11 Drivers, Restraints, Opportunities, And Challenges In The Companion Animal Pharmaceuticals Market (2021–2026): Impact On Market Growth & Cagr
2.3 Data Triangulation Approach
Figure 12 Data Triangulation Methodology
2.4 Market Share Estimation
2.5 Assumptions For The Study
2.6 Risk Assessment/Limitations
2.7 Covid-19 Health Assessment
2.8 Covid-19 Economic Assessment
2.9 Assessing The Impact Of Covid-19 On The Economic Scenario
Figure 13 Criteria Impacting The Global Economy
Figure 14 Recovery Scenario Of The Global Economy

3 Executive Summary
Figure 15 Companion Animal Pharmaceuticals Market, By Indication, 2021 Vs. 2026 (Usd Million)
Figure 16 Companion Animal Pharmaceuticals Market, By Animal Type, 2021 Vs. 2026 (Usd Million)
Figure 17 Companion Animal Pharmaceuticals Market, By Distribution Channel, 2021 Vs. 2026 (Usd Million)
Figure 18 Geographical Snapshot Of The Companion Animal Pharmaceuticals Market

4 Premium Insights
4.1 Companion Animal Pharmaceuticals Market Overview
Figure 19 Rising Pet Population To Drive Market Growth
4.2 Europe: Companion Animal Pharmaceuticals Market, By Indication And Country (2020)
Figure 20 Infectious Diseases Segment Accounted For The Largest Share Of The European Market In 2020
4.3 Companion Animal Pharmaceuticals Market: Geographic Growth Opportunities
Figure 21 China To Register The Highest Growth During The Forecast Period
4.4 Companion Animal Pharmaceuticals Market, By Region (2019–2026)
Figure 22 North America Will Continue To Dominate The Companion Animal Pharmaceuticals Market During The Forecast Period
4.5 Companion Animal Pharmaceuticals Market: Developed Vs. Developing Markets
Figure 23 Developing Markets To Register A Higher Growth Rate During The Forecast Period

5 Market Overview
5.1 Introduction
5.2 Market Dynamics
Table 2 Companion Animal Pharmaceuticals Market: Impact Analysis
5.2.1 Market Drivers
5.2.1.1 Growing Prevalence Of Zoonotic Diseases
Table 3 Animal Disease Outbreaks In Asia Pacific Countries (2013–2018)
5.2.1.2 Rising Demand For Pet Insurance With Growing Animal Health Expenditure
Figure 24 Us: Pet Expenditure, 2010-2019 (Usd Billion)
Figure 25 Us: Pet Health Insurance Market, 2014 Vs. 2019 (Usd Million)
5.2.1.3 Growing Investments By Key Players
5.2.1.4 Initiatives By Various Government Agencies And Animal Associations
5.2.1.5 Growth In Companion Animal Ownership Rates
Figure 26 Developed Countries: Pet Population & Pet Ownership
5.2.2 Market Restraints
5.2.2.1 Rising Pet Care Costs
5.2.2.2 Limited Number Of New Product Developments
5.2.2.3 High Storage Cost Of Vaccines
5.2.3 Market Opportunities
5.2.3.1 Lucrative Growth Opportunities In Emerging Markets
5.2.3.2 Growing Prevalence Of Animal Diseases
5.2.3.3 Technological Advancements In Manufacturing Vaccines
5.2.4 Market Challenges
5.2.4.1 Stringent Regulatory Approval Process For Drugs
5.2.4.2 Inadequate Surveillance And Reporting Systems Of Vaccines
5.2.4.3 Diversity Of Parasite Species

6 Industry Insights
6.1 Introduction
6.2 Industry Trends
6.2.1 Growing Consolidation In The Animal Healthcare Industry
Table 4 Major Acquisitions In The Animal Health Industry (2017–2019)
6.2.2 Innovations In Animal Healthcare Products
Table 5 Innovative Animal Pharmaceutical Trends
6.3 Porter’s Five Forces Analysis
Table 6 Porter’s Five Forces Analysis
6.3.1 Threat Of New Entrants
6.3.2 Threat Of Substitutes
6.3.3 Bargaining Power Of Suppliers
6.3.4 Bargaining Power Of Buyers
6.3.5 Intensity Of Competitive Rivalry
6.4 Regulatory Analysis
Figure 27 Development And Approval Process For Companion Animal Pharmaceutical Products
Table 7 Us: Recent Developments In Regulations For Veterinary Drugs
Figure 28 Europe: Companion Animal Pharmaceutical Products Approval Process
6.5 Value Chain Analysis
Figure 29 Companion Animal Pharmaceuticals Market: Value Chain Analysis
6.6 Supply Chain Analysis
Figure 30 Companion Animal Pharmaceuticals Market: Supply Chain Analysis
6.7 Ecosystem Analysis
6.7.1 Ecosystem Analysis For The Companion Animal Pharmaceuticals Market
Figure 31 Companion Animal Pharmaceuticals Market: Ecosystem Analysis
6.8 Impact Of Covid-19 On The Companion Animal Pharmaceuticals Market
6.9 Patent Analysis
6.9.1 Top Applicants (Companies/Institutions) For Companion Animal Pharmaceuticals
Figure 32 Top Applicants (Companies/Institutions) For Companion Animal Pharmaceutical Patents (2015–2020)
6.9.2 Top Inventors For Companion Animal Pharmaceuticals
Figure 33 Top Inventors For Companion Animal Pharmaceuticals Patents (2015–2020)
6.9.3 Jurisdiction Analysis: Top Applicants (Countries) For Companion Animal Pharmaceuticals
Figure 34 Top Applicant Countries For Companion Animal Pharmaceutical Patents (2015–2020)

7 Companion Animal Pharmaceuticals Market, By Indication

8 Companion Animal Pharmaceuticals Market, By Animal Type

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