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Companion Animal Health Market By Animal Type (Dogs, Cats, Horses, Others), By Products And Services (Pharmaceuticals, Animals Feed Additives, Diagnostics, Vaccines, Others), By End-User (Veterinary Clinics, Veterinary Hospitals, Homecare, Other) - Growth, Future Prospects And Competitive Analysis, 2019 - 2027

The global companion animal health market accounted for US$ 14.5 Bn in 2018 and is likely to witness growth, with a CAGR of 6.0% across the forecast period from 2019 to 2027. With the rising companion animal ownership population, owners are concerned about companion animal health and nutrition, seeking various veterinary services. This, in turn, is increasing demand for diversified companion healthcare products such as vaccines, feeding products, nutritional supplements, and drugs for various diseases. Similarly, acquisitions by major players are increasing the global demand for companion animal health markets. For instance, in October 2019, Zoetis announced the acquisition of Phoenix Central Laboratory. Phoenix lab serves anatomic and clinical pathology in veterinary clinics in around 20 states. With the help of this acquisition, Zoetis aims to increase its portfolio by providing comprehensive diagnostics products and services in the US.

A major strategy implemented by companies in the companion animal health market in collaboration is a crucial reason for the development of the companion animal health market across the globe. For instance, in January 2017, Jaguar Animal Health, Inc. and Elanco US Inc. announced an agreement. This collaboration aims to develop Canalevia. Canalevia is a drug that will help in the treatment of Diarrhea, which is the most common cause of veterinary calls among dogs.

Manufacturers focus on providing new and innovative techniques and services in the companion animal health market. For instance, in January 2019, Bayer announced to support infectious disease surveillance program for companion animals. Bayer is a major sponsor of the disease surveillance system that will provide distribution and prevalence of infections caused by arthropod and ectoparasite among dogs and cats in Africa. Moreover, initiatives such as the One Health initiative are key factors increasing the companion animal health market demand. 

Market Snapshot

Dog holds the largest share in the companion animal health market.

In 2018, dogs held the largest share in the global companion animal health market. The dominance of this segment is supported by the benefits associated with keeping dogs as pets. Dogs provide many health benefits, such as improving heart health by lowering blood pressure and cholesterol. According to The American Pet Production Association (APPA), the National pet owners survey 2017-2018 announced that approximately 68% of the US households own pets, from which 60 million households have dogs as pets. Additionally, manufacturers are developing a new products for dogs, increasing the demand for Companion animal health products among dogs. For instance, in May 2019, Merck & Co. Inc. launched Bravecto Cares. Bravecto Cares is an educational campaign for keeping service dogs healthy. As a part of this initiative, Merck launched Bravecto chewing tablets that protect dogs from fleas and ticks.

North America Garnered Largest Market Share in 2018

2018 North America dominated the companion animal health market 2018 and is most likely to continue its governance during the forecast period from 2019 to 2027. North America has the highest pet-owner population across the globe. For instance, according to statistics provided by “The Humane Society Institute for Science and Policy,” the population of companion animals in North America for the year 2017 accounts for 86.8 Mn for cats and 76.6 for dogs. One of the key factors which support the growth of the companion animal health market is the wide availability of pet care products in North America. For instance, in November 2018, Zoetis launched a new product for parasite prevention in cats. The Revolution Plus is approved by the US Food and Drug Administration (FDA). Revolution Plus is 6-in-1 parasite protection that protects cats from ticks, fleas, roundworms, hookworms, and heartworm all at once. Revolution Plus is an innovative product that protects cats from internal and external pests by a single user in a month. Additionally, according to the statistics of Zoetis, Zoetis earns the largest revenue, i.e., almost 50% of its revenue from the North American region.

Competitive Insights

The major players identified in the companion animal health market include Zoetis, Jaguar Health, Elanco, Bayer AG, Merck & Co., Ceva, Boehringer Ingelheim International GmbH., Virbac., Vetoquinol S.A., Inc., Conklin Company Inc., and Nestle Purina Petcare among others. Players are expanding their product portfolio to satisfy the rising needs of the customers. Partnerships and acquisitions remain some of the major strategies implemented by the major players in the companion animal health market. For instance, in April 2019, Elanco Animal Heath announced the acquisition of Aratana Therapeutics. Through this acquisition, Elanco aims to acquire Arantana’s product portfolio for pet animals in their own companion animal therapeutics business.

Historical & Forecast Period

The research report presents the analysis of each segment from 2017 to 2027, considering 2018 as the base year for the research. In addition, compounded Annual Growth Rate (CAGR) for each respective segment was calculated for the forecast period from 2019 to 2027.

Report Scope by Segments

Companion animal health market report, provides market size and estimates based on market dynamics and key trends observed in the industry. In addition, the report provides a holistic view of the global companion animal health market based on animal type, product, and services, end-use vertical, and geography. 

Frequently Asked Questions:

The market for Companion Animal Health is expected to reach US$ XX Mn in 2027.

The Companion Animal Health market is expected to see significant CAGR growth over the coming years, at 6.0%.

The report is forecasted from 2019-2027.

The base year of this report is 2021.

Zoetis, Jaguar Health, Elanco, Bayer AG, Merck & Co., Ceva, Boehringer Ingelheim International GmbH., Virbac, Vetoquinol S.A., Inc., Conklin Company Inc. are some of the major players in the global market.

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Executive Summary - Brief Global Market Size - Current & Forecast
Regional Market Size - North America
Country Market Size - US
Company Profile – 1
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Godaddy
Published Date:  Nov 2019
Category:  Healthcare
Report ID:   60046
Report Format:   PDF
Pages:   120
Rating:    4.4 (69)
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