Companion Animal Health Market (By Animal Type: By Type, By Products; By Product: Vaccines, Pharmaceuticals, Feed Additives, Diagnostics, Others; By Distribution Channel: Retail, E-commerce, Hospital Pharmacies; By End-use: Point-of-care Testing/In-house Testing, Veterinary Hospitals & Clinics, Others) - Global Industry Analysis, Size, Share, Growth, Trends, Revenue, Regional Outlook 2021 � 2030

The global Companion Animal Health market size is expected to be worth around US$ 26.21 billion by 2030, according to a new report by Vision Research Reports.

The global Companion Animal Health market size was valued at US$ 17.01 billion in 2020 and is anticipated to grow at a CAGR of 7.01% during forecast period 2021 to 2030.

Growth Factors

Efforts undertaken by various animal welfare organizations at the country and regional levels, are anticipated to positively influence the growth. These organizations work closely with various partners, including national ministries of health, World Organization for Animal Health (OIE), World Bank, Food and Agriculture Organization (FAO), and United Nations System Influenza Coordination (UNSIC). The National Center for Emerging and Zoonotic Infectious Diseases (NCEZID) is engaged in preventing, tracking, detecting, and responding to outbreaks of infectious diseases in U.S. and other countries.

Growing investments by key players to develop advanced pet care solutions is projected to further propel the companion animal health market. For instance, regulatory departments in Brazil, South Africa, and India are helping various R&D centers by listing specific requirements of their countries. This has urged market players to initiate product development as per requirements of different countries. Key companies are actively focusing on innovation and development in pet care. For instance, Zoetis developed Cytopoint, the first monoclonal antibody for veterinary use, for the treatment of atopic dermatitis in dogs.

Report Highlights

Dogs emerged as the animal type segment in 2020, attributed to increased pet healthcare spending, especially in developed regions. According to the American Pet Product Association (APPA), pet spending has been consistently on the rise and was estimated to reach USD 66.75 billion in 2016. This can also be attributed to high penetration of feed additives, vaccines, diagnostics, and pharmaceuticals for pets. The increase in adoption of these products has resulted from growing consumer awareness pertaining to their availability and benefits. In addition, general concern of owners regarding overall hygiene and health of pets is one of the driving factors. This segment is anticipated to expand at an exponential pace throughout the forecast period.

Adoption of cats is on the rise in some countries such as Canada and they are preferred over dogs. High prevalence of infectious diseases among cats is also one of the high impact rendering drivers for this segment. This is anticipated to boost the adoption of pharmaceuticals and vaccines for the treatment of these diseases. Other prevalent conditions in cats, such as Chronic Kidney Disease (CKD) and diabetes, have also increased the clinical urgency to adopt pharmaceuticals, thereby presenting lucrative growth opportunities. Moreover, companies are focusing on increasing their product portfolio for cats owing to greater sensitivity to diseases in comparison with other companion animals. For instance, Ceva extended its range of cardiology products with the launch of Amodip for the treatment of arterial hypertension in cats.

Pharmaceuticals held the largest share in the product segment in 2020, attributed to increasing prevalence of food-borne diseases, brucellosis, and other zoonotic diseases that are potentially hazardous to animals. This has resulted in rising clinical urgency for the use of potent pharmaceuticals and targeted medicines. In addition, significant rise in instances of animal bites has increased risk of disease and microbe transmissions, which is also expected to propel demand for pharmaceuticals.

Considerable rise in pet ownership is observed to have accelerated the adoption of pharmaceuticals for longevity of the pets. Moreover, increasing number of mergers and acquisitions, for instance the acquisition of Novartis by Eli Lilly, have resulted in multimarket distribution of the products of Novartis, including pharmaceuticals. In addition, Virbac acquired two parasiticides of Eli Lilly, Sentinel Flavor Tabs, and Sentinel Spectrum for dogs, marketed by Novartis Animal Health.

Growing prevalence of zoonotic diseases such as rabies and Lyme is among high impact rendering drivers for this segment. This is expected to increase the establishment of reference laboratories to improve veterinary health in the forthcoming years. The World Health Organization (WHO) is involved in various cross-sectoral activities for addressing health threats at the human-animal-ecosystem interface. This factor is also projected to create growth opportunities for the market over the forecast period.

Hospitals and clinics accounted for the largest market share of in 2020, attributed to various procedures including toxicology tests, conducted by these institutes. Availability of a wide range of treatments as well as diagnostic options in veterinary hospitals and clinics is among high impact rendering drivers for this segment.

Certain vaccines are only available in accredited veterinary hospitals and clinics, which is responsible for increasing market share of this segment in near future. Various government animal welfare organizations have issued guidelines for safety practices and standards to be implemented in these facilities, which has broadened the scope of for the segment.

Point-of-care/In-house testing is anticipated to witness lucrative growth in the forthcoming years owing to an increase in the number of initiatives undertaken for veterinary care and availability of cost-efficient measures for disease diagnosis and monitoring. Commonly used veterinary point-of-care tests include cCRP, fibrinogen, fructosamine, hemoglobin, lactate, lipase (pancreatic), NH3, phenobarbital, Serum Amyloid A (SAA), and T4 tests.

Increase in incidence of zoonotic diseases caused by globalization and climate changes is expected to drive demand for diagnostic procedures, which is expected to drive the point-of-care testing/in-house testing segment. Rise in initiatives to create awareness among pet owners about the benefits and value of preventive care is one of the key contributing factors for growth. Tests such as ELISA have been proven to be effective for point-of-care testing for the diagnosis of heartworms.

Hospitals provide advanced treatment products, which is expected to contribute to the overall growth of the hospitals segment. High procedural volume due to frequent readmissions is one of the major growth drivers. This has led to an increase in the need for vet pharmaceuticals, thereby increasing the adoption of vet care products in hospital pharmacies.

E-commerce is expected to witness lucrative growth during the forecast period. This growth is believed to be a result of various advantages such as increased convenience for patients, thereby eliminating the need to purchase medicines from retail or hospital pharmacies. Moreover, they also facilitate consistent supply as these medications can be preordered.

Benefits associated with online pharmacies are anticipated to accentuate demand for e-commerce throughout the forecast period. With the help of online pharmacies, order procurement and tracking becomes easy as associated supply chain management eliminates other market intermediaries of the delivery channel. This reduces overall costs, and is expected to drive demand for e-commerce.

Key Players

Zoetis, Nutreco N.V.; Merck& Co., Inc.; Elanco; and Bayer AG. 

Market Segmentation

  • Animal Type Outlook
    • By Type
      • Dogs
      • Equine
      • Cats
      • Others
    • By Product
      • Vaccines
      • Pharmaceuticals
      • Feed Additives
      • Diagnostics
      • Others
  • Product Outlook 
    • Vaccines
    • Pharmaceuticals
      • OTC
      • Prescription
    • Feed Additives
    • Diagnostics
    • Others
  • Distribution Channel Outlook
    • Retail
    • E-commerce
    • Hospital Pharmacies
  • End use Outlook
    • Point-of-care Testing/In-house Testing
    • Veterinary Hospitals & Clinics
    • Others
  • Regional Outlook
    • North America
      • U.S.
      • Canada
    • Europe
      • U.K.
      • Germany
      • France
      • Italy
      • Russia
      • Spain
    • Asia Pacific
      • Japan
      • China
      • India
      • Thailand
      • Australia
      • South Korea
      • Malaysia
      • Singapore
    • Latin America
      • Brazil
      • Mexico
      • Argentina
    • Middle East & Africa
      • South Africa
      • Saudi Arabia
      • Turkey
      • Iran
      • United Arab Emirates
      • Israel

The Companion Animal Health market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.

The report provides size (in terms of volume and value) of Companion Animal Health market for the base year 2020 and the forecast between 2021 and 2030. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.

This report focuses on the global Companion Animal Health market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Companion Animal Health market development in United States, Europe and China.

It is pertinent to consider that in a volatile global economy, we haven’t just conducted Companion Animal Health market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.

In terms of production side, this report researches the Companion Animal Health capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.

In terms of consumption side, this report focuses on the consumption of Companion Animal Health by regions (countries) and application.

Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global Companion Animal Health market. These figures have been provided in terms of both revenue and volume for the period 2017 to 2030. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.

With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major Companion Animal Health market companies.

Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of Companion Animal Health market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.

The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.

Overall, this is an in-depth research report specifically for the Companion Animal Health industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.

The Companion Animal Health market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to Companion Animal Health market.

Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of Companion Animal Health market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.

Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new Companion Animal Health market. These factors have benefited the growth of the global market for Companion Animal Health. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.

New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for Companion Animal Health. The global market is segmented on the basis of region, application, en-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).

In this study, the years considered to estimate the market size of Companion Animal Health are as follows:

  • Historic Year: 2017-2020
  • Base Year: 2020
  • Forecast Year 2021 to 2030

Reasons to Purchase this Report:

- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players

Research Methodology:

In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.

This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.

Market Size Estimation

Top-down and bottom-up approaches are used to estimate and validate the global market size for company, regional division, product type and application (end users).

The market estimations in this report are based on the selling price (excluding any discounts provided by the manufacturer, distributor, wholesaler or traders). Market share analysis, assigned to each of the segments and regions are achieved through product utilization rate and average selling price.

Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.

All possible factors that influence the markets included in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. The market size for top-level markets and sub-segments is normalized, and the effect of inflation, economic downturns, and regulatory & policy changes or others factors are accounted for in the market forecast. This data is combined and added with detailed inputs and analysis from Vision Research Reports and presented in this report.

Market Breakdown and Data Triangulation

After complete market engineering with calculations for market statistics; market size estimations; market forecasting; market breakdown; and data triangulation. Extensive primary research was conducted to gather information and verify and validate the critical numbers arrived at. In the complete market engineering process, both top-down and bottom-up approaches were extensively used, along with several data triangulation methods, to perform market estimation and market forecasting for the overall market segments and sub-segments listed in this report.

Secondary Sources

Secondary Sources occupies approximately 25% of data sources, such as press releases, annual reports, Non-Profit organizations, industry associations, governmental agencies and customs data, and so on. This research study includes secondary sources; directories; databases such as Bloomberg Business, Wind Info, Hoovers, Factiva (Dow Jones & Company), TRADING ECONOMICS, and avention; Investing News Network; statista; Federal Reserve Economic Data; annual reports; investor presentations; and SEC filings of companies.

Primary Sources

 In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. The primary sources from the supply side include product manufacturers (and their competitors), opinion leaders, industry experts, research institutions, distributors, dealer and traders, as well as the raw materials suppliers and producers, etc.

The primary sources from the demand side include industry experts such as business leaders, marketing and sales directors, technology and innovation directors, supply chain executive, end users (product buyers), and related key executives from various key companies and organizations operating in the global market.

The study objectives of this report are:

  • To analyze and study the global market capacity, production, value, consumption, status (2017-2020) and forecast (2021-2030);
  • Focuses on the key manufacturers, to study the capacity, production, value, market share and development plans in future.
  • Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
  • To define, describe and forecast the market by type, application and region.
  • To analyze the global and key regions market potential and advantage, opportunity and challenge, restraints and risks.
  • To identify significant trends and factors driving or inhibiting the market growth.
  • To analyze the opportunities in the market for stakeholders by identifying the high growth segments.
  • To strategically analyze each submarket with respect to individual growth trend and their contribution to the market
  • To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market
  • To strategically profile the key players and comprehensively analyze their growth strategies.

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