The report "Companion Animal Pharmaceuticals Market by Indication (Infectious Diseases, Antibiotics, Parasiticides, Vaccines, Pain), Animal Type (Dogs, Cats, Horses), Distribution Channel (Veterinary Hospitals & Clinics), 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. The growth in this market is majorly driven by the growth in companion animal ownership, rising prevalence of zoonotic diseases, rising demand for pet insurance with the growing animal health expenditure, and initiatives by various government agencies and animal associations. On the other hand, the limited number of new antibiotics, rising pet care costs, and rising cost of vaccine storage are expected to restrain the growth of this market during the forecast period.
Browse 143 market data Tables and 59 Figures spread through 238 Pages and in-depth TOC on "Companion Animal Pharmaceuticals Market by Indication (Infectious Diseases, Antibiotics, Parasiticides, Vaccines, Pain), Animal Type (Dogs, Cats, Horses), Distribution Channel (Veterinary Hospitals & Clinics), COVID-19 Impact - Global Forecast to 2026"
View detailed Table of Content here - https://www.marketsandmarkets.com/Market-Reports/companion-animal-pharmaceutical-market-252218886.html
By indication, the infectious diseases segment is expected to account for the largest share of the companion animal pharmaceuticals market
Based on indication, the global companion animal pharmaceuticals market is segmented into infectious diseases, dermatologic diseases, orthopedic diseases, pain, behavioral disorders, and other indications. The infectious diseases segment accounted for the largest share of the market. The large share of this segment can be attributed to the increasing prevalence of zoonotic diseases, growing rates of pet ownership, rising initiatives by government and animal health associations for controlling disease outbreaks, and easy accessibility of these drugs.
On the basis of animal type, dogs segment is expected to grow at highest CAGR in the companion animal pharmaceuticals market during 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 is projected to grow at the highest CAGR in the forecast period. This growth can be 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.
On the basis of distribution channel, veterinary hospitals segment holds the largest market share in the companion animal pharmaceuticals market
Based on distribution channel, the companion animal pharmaceuticals market is segmented into veterinary hospitals, veterinary clinics, and retail pharmacies. The veterinary hospitals segment holds the largest share in the companion animal pharmaceuticals market due to 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.
Asia Pacific is expected to register the highest CAGR in the companion animal pharmaceuticals market during the forecast period
The companion animal pharmaceuticals market in the APAC region is expected to register the highest CAGR during the forecast period. The rising pet ownership and increasing animal health expenditure, rising per capita income in these countries, increasing incidence of zoonotic diseases, increasing awareness on animal healthcare, growing number of veterinary hospitals and clinics, and the implementation of regulations to prevent the spread of animal diseases are the key factors driving market growth in this region.
Prominent players in the companion animal pharmaceuticals market include 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).
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.
Mr. Aashish Mehra
630 Dundee Road
Northbrook, IL 60062
USA : 1-888-600-6441
This FREE sample includes market data points, ranging from trend analyses to market estimates & forecasts. See for yourself.SEND ME A FREE SAMPLE