Companion Animal Health

Global Companion Animal Health Market to Reach US$48.0 Billion by 2030

The global market for Companion Animal Health estimated at US$29.8 Billion in the year 2024, is expected to reach US$48.0 Billion by 2030, growing at a CAGR of 8.3% over the analysis period 2024-2030. Pharmaceuticals, one of the segments analyzed in the report, is expected to record a 8.8% CAGR and reach US$25.0 Billion by the end of the analysis period. Growth in the Vaccines segment is estimated at 7.8% CAGR over the analysis period.

The U.S. Market is Estimated at US$7.7 Billion While China is Forecast to Grow at 12.3% CAGR

The Companion Animal Health market in the U.S. is estimated at US$7.7 Billion in the year 2024. China, the world`s second largest economy, is forecast to reach a projected market size of US$12.2 Billion by the year 2030 trailing a CAGR of 12.3% over the analysis period 2024-2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at a CAGR of 3.9% and 7.2% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 4.9% CAGR.

Global Companion Animal Health Market - Key Trends & Drivers Summarized

Why Is Companion Animal Health Important and What Does It Encompass?

The companion animal health market encompasses a wide range of products and services focused on the health and well-being of pets, including diagnostics, therapeutics, vaccines, dietary supplements, and wellness services. As pet ownership rises globally, companion animals have become integral parts of households, and their health is prioritized similarly to human family members. Veterinary care, preventive medicine, and nutritional products are essential components of this market, supporting pet owners in maintaining the health of their animals. Companion animal health products help prevent and treat various conditions, including parasitic infections, allergies, joint issues, and chronic diseases, enhancing quality of life for pets and offering peace of mind to pet owners. Companion animal health has gained importance as pets increasingly occupy a central role in family life. The demand for advanced veterinary care, pet insurance, and specialty treatments has grown, as owners seek out high-quality health solutions for their animals. With advances in veterinary science, diagnostic tools, and specialized pet therapeutics, pets can now benefit from preventive care and treatments once reserved for humans. This shift reflects broader trends in human healthcare, with a rising emphasis on preventive and wellness-focused approaches. As the pet population continues to grow, the companion animal health market is poised to meet rising consumer expectations for comprehensive, compassionate care.

How Are Technological Advances Impacting Companion Animal Health?

Technological advancements are transforming the companion animal health market by enabling new diagnostic, therapeutic, and wellness solutions. Innovations in diagnostic tools, including imaging technologies and lab-on-a-chip devices, allow for faster, more accurate diagnoses of health issues in animals. Additionally, advances in genetic testing help identify breed-specific health risks, enabling personalized treatment plans and preventive care tailored to each pet. Wearable health-monitoring devices, which track vital signs, activity levels, and behavior, provide pet owners and veterinarians with real-time data to monitor pet health and catch early signs of health issues, enhancing preventive care. On the treatment side, advancements in pharmaceuticals and biotechnology have introduced novel therapeutics, such as monoclonal antibodies and biologics, for treating chronic conditions like arthritis and allergies in pets. Telemedicine platforms have also gained traction, especially since the COVID-19 pandemic, offering remote consultations and follow-up care. This digital shift improves accessibility to veterinary services, allowing pet owners to manage routine care and seek advice conveniently. These technological trends reflect a growing commitment to advancing pet healthcare, empowering veterinarians with tools for better diagnostic accuracy and personalized care, and helping pet owners proactively manage their pets’ well-being.

What Are the Key Applications of Companion Animal Health Products?

Companion animal health products cover a wide range of applications, from preventive care and wellness to therapeutic treatments for chronic and acute conditions. Vaccines and antiparasitic treatments form the core of preventive care, protecting pets from common diseases and parasites. Routine health supplements, including vitamins and probiotics, support digestive health, joint mobility, and skin condition, particularly for aging pets or breeds predisposed to health issues. Diagnostic tools, including blood tests, X-rays, and genetic screenings, allow veterinarians to detect underlying health conditions early, providing better treatment options and prognosis.

Therapeutic products are used to manage chronic conditions like diabetes, arthritis, and cardiovascular issues, helping improve pets’ quality of life. Pain management solutions, such as non-steroidal anti-inflammatory drugs (NSAIDs), are also commonly prescribed to alleviate discomfort in pets with mobility issues or post-surgery. Specialized pet foods cater to various health needs, offering formulas tailored for weight management, renal health, and digestive care. These applications emphasize the comprehensive nature of companion animal health, addressing preventive, diagnostic, and therapeutic needs to ensure pets live healthier, more comfortable lives.

What Factors Are Driving Growth in the Companion Animal Health Market?

The growth in the companion animal health market is driven by several factors, including rising pet ownership, technological advancements in veterinary care, and increased spending on pet wellness. The surge in pet ownership, especially during the COVID-19 pandemic, has led to a greater focus on pet healthcare, with owners investing more in preventive care, wellness products, and specialized treatments. Technological innovations, such as telemedicine and genetic testing, have expanded accessibility to veterinary services and introduced new preventive options, making advanced healthcare more convenient and affordable. Additionally, the growth in pet insurance has reduced out-of-pocket expenses for pet owners, enabling them to pursue more extensive treatment plans for their animals. Consumer demand for high-quality pet products and services, including organic and functional foods, supplements, and specialty pharmaceuticals, has also contributed to market expansion. Awareness of the importance of preventive care is rising, encouraging pet owners to invest in regular check-ups, vaccinations, and dietary supplements. This shift toward proactive pet healthcare, combined with the increasing humanization of pets, underscores the companion animal health market’s continued growth. As pet care continues to mirror trends in human healthcare, the market is set to expand, offering products and services that cater to a more holistic approach to animal wellness.

SCOPE OF STUDY:

The report analyzes the Companion Animal Health market in terms of units by the following Segments, and Geographic Regions/Countries:

Segments:
Product (Pharmaceuticals, Vaccines, Diagnostics, Feed Additives, Other Products); Distribution Channel (Hospital Pharmacies, Retail, eCommerce); End-Use (Veterinary Hospitals & Clinics, Point-of-Care Testing / In-House Testing, Other End-Uses)

Geographic Regions/Countries:
World; United States; Canada; Japan; China; Europe (France; Germany; Italy; United Kingdom; Spain; Russia; and Rest of Europe); Asia-Pacific (Australia; India; South Korea; and Rest of Asia-Pacific); Latin America (Argentina; Brazil; Mexico; and Rest of Latin America); Middle East (Iran; Israel; Saudi Arabia; United Arab Emirates; and Rest of Middle East); and Africa.

Select Competitors (Total 42 Featured) -

• Ameri-Pac Inc.
• Bayer AG
• Boehringer Ingelheim GmbH
• Ceva Santé Animale
• Conklin Company Inc
• Elanco
• Merck Animal Health
• Merial
• Nutreco N.V.
• Vetiquinol S.A.
• Virbac
• Zoetis

AI INTEGRATIONS
We`re transforming market and competitive intelligence with validated expert content and AI tools.

Instead of following the general norm of querying LLMs and Industry-specific SLMs, we built repositories of content curated from domain experts worldwide including video transcripts, blogs, search engines research, and massive amounts of enterprise, product/service, and market data.

TARIFF IMPACT FACTOR
Our new release incorporates impact of tariffs on geographical markets as we predict a shift in competitiveness of companies based on HQ country, manufacturing base, exports and imports (finished goods and OEM). This intricate and multifaceted market reality will impact competitors by increasing the Cost of Goods Sold (COGS), reducing profitability, reconfiguring supply chains, amongst other micro and macro market dynamics.

Please note: Reports are sold as single-site single-user licenses. Electronic versions require 24-48 hours as each copy is customized to the client with digital controls and custom watermarks. The Publisher uses digital controls protecting against copying and printing is restricted to one full copy to be used at the same location.

The latest version of Adobe Acrobat Reader is required to view the report. Upon ordering an electronic version, the Publisher will provide a link to download the purchased report.

Prior to fulfillment of an order, the client will be required to sign a document detailing the purchase terms for a publication from this publisher. Show more