Companion Animal Medicine Market Size, Share & Trends Analysis Report By Product (Biologics, Pharmaceuticals, Medicated Feed Additives), By Animal, By Indication, By Distribution Channel, By Region, And Segment Forecasts, 2026 - 2034
Description
Companion Animal Medicine Market Summary
The global companion animal medicine market size was estimated at USD 25.88 billion in 2025 and is projected to reach USD 66.96 billion by 2034, growing at a CAGR of 11.22% from 2026 to 2034. The market is primarily driven by factors like rapid advancements in companion animal medicine, increasing humanization of pets & expenditure on pets, supportive initiatives, and changing pet demographics globally.
Advancements in veterinary medicines have led to the development of more effective and targeted treatments for various animal diseases and health conditions. New drugs and therapies offer improved efficacy, reduced adverse effects, and better animal outcomes, driving demand for innovative veterinary medications.
Increasing product approvals, rising focus on precision medicine, increasing uptake of pet insurance, growing animal health expenditure, the emergence of regenerative medicine techniques, and increasing demand for advanced animal care are expected to drive advancements in veterinary medicine in the near future. For instance, according to a dvm360 article from February 25, 2025, the FDA might provide conditional approval by March 2025 for a targeted drug known as rapamycin, which is currently under clinical trials for testing its efficacy in reversing hypertrophic cardiomyopathy (HCM) in felines.
Similarly, in March and April 2025, the US FDA approved two new veterinary drugs for cats and ornamental pet fish. In March 2025, the U.S. (FDA) granted conditional approval for Felycin-CA1 (sirolimus delayed-release tablets), the first approved treatment for cats suffering from subclinical hypertrophic cardiomyopathy (HCM). The product, manufactured by TriviumVet, an Ireland-based company, aims to manage cat ventricular hypertrophy without suppressing the immune system.
Such advancements highlight a shift toward more precise, effective, and safer pet treatment options. As veterinary science evolves, developing targeted therapies and novel drug delivery systems will enhance disease management and overall animal well-being. This growing focus on innovation, supported by increasing pet health awareness, rising veterinary care expenditures, and broader adoption of pet insurance, is driving demand for advanced veterinary solutions. These factors are expected to accelerate the sector's growth and reshape the future of companion animal medicine.
Global Companion Animal Medicine Market Report Segmentation
This report forecasts revenue growth and provides an analysis on the latest trends in each of the sub-segments from 2021 to 2034. For the purpose of this report, Grand View Research has segmented the global companion animal medicine market report on the basis of product, application, distribution channel, and region:
The global companion animal medicine market size was estimated at USD 25.88 billion in 2025 and is projected to reach USD 66.96 billion by 2034, growing at a CAGR of 11.22% from 2026 to 2034. The market is primarily driven by factors like rapid advancements in companion animal medicine, increasing humanization of pets & expenditure on pets, supportive initiatives, and changing pet demographics globally.
Advancements in veterinary medicines have led to the development of more effective and targeted treatments for various animal diseases and health conditions. New drugs and therapies offer improved efficacy, reduced adverse effects, and better animal outcomes, driving demand for innovative veterinary medications.
Increasing product approvals, rising focus on precision medicine, increasing uptake of pet insurance, growing animal health expenditure, the emergence of regenerative medicine techniques, and increasing demand for advanced animal care are expected to drive advancements in veterinary medicine in the near future. For instance, according to a dvm360 article from February 25, 2025, the FDA might provide conditional approval by March 2025 for a targeted drug known as rapamycin, which is currently under clinical trials for testing its efficacy in reversing hypertrophic cardiomyopathy (HCM) in felines.
Similarly, in March and April 2025, the US FDA approved two new veterinary drugs for cats and ornamental pet fish. In March 2025, the U.S. (FDA) granted conditional approval for Felycin-CA1 (sirolimus delayed-release tablets), the first approved treatment for cats suffering from subclinical hypertrophic cardiomyopathy (HCM). The product, manufactured by TriviumVet, an Ireland-based company, aims to manage cat ventricular hypertrophy without suppressing the immune system.
Such advancements highlight a shift toward more precise, effective, and safer pet treatment options. As veterinary science evolves, developing targeted therapies and novel drug delivery systems will enhance disease management and overall animal well-being. This growing focus on innovation, supported by increasing pet health awareness, rising veterinary care expenditures, and broader adoption of pet insurance, is driving demand for advanced veterinary solutions. These factors are expected to accelerate the sector's growth and reshape the future of companion animal medicine.
Global Companion Animal Medicine Market Report Segmentation
This report forecasts revenue growth and provides an analysis on the latest trends in each of the sub-segments from 2021 to 2034. For the purpose of this report, Grand View Research has segmented the global companion animal medicine market report on the basis of product, application, distribution channel, and region:
- Product Outlook (Revenue, USD Million, 2021 - 2034)
- Biologics
- Vaccines
- Modified/ Attenuated Live
- Inactivated (Killed)
- Other Vaccines
- Other Biologics
- Monoclonal Antibody (mAb)
- Dogs
- Cats
- Other Biologics (excluding mAb)
- Pharmaceuticals
- Parasiticides
- Anti-infectives
- Anti-inflammatory
- Analgesics
- Other Pharmaceuticals
- Medicated Feed Additives
- Animal Outlook (Revenue, USD Million, 2021 - 2034)
- Dogs
- Cats
- Horses
- Other Animals
- Indication Outlook (Revenue, USD Million, 2021 - 2034)
- Infectious Diseases
- Dermatologic Diseases
- Pain
- Orthopedic Diseases
- Behavioral Diseases
- Other Indications
- Distribution Channel Outlook (Revenue, USD Million, 2021 - 2034)
- Retail
- E-commerce
- Hospitals/Clinics
- Regional Outlook (Revenue, USD Million, 2021 - 2034)
- North America
- U.S.
- Canada
- Mexico
- Europe
- UK
- Germany
- France
- Italy
- Spain
- Denmark
- Sweden
- Norway
- Asia Pacific
- Japan
- China
- India
- Australia
- South Korea
- Thailand
- Latin America
- Brazil
- Argentina
- Middle East & Africa (MEA)
- South Africa
- Saudi Arabia
- UAE
- Kuwait
Table of Contents
100 Pages
- Chapter 1. Methodology and Scope
- 1.1. Market Segmentation and Scope
- 1.2. Market Definition
- 1.3. Research Methodology
- 1.4. Information Procurement
- 1.4.1. Purchased Database
- 1.4.2. GVR’s Internal Database
- 1.4.3. Secondary Sources
- 1.4.4. Primary Research
- 1.5. Information/Data Analysis
- 1.6. Market Formulation & Visualization
- 1.7. Data Validation & Publishing
- 1.8. Model Details
- 1.8.1. Model Analysis 1
- 1.8.2. Model Analysis 2
- 1.8.3. Model Analysis 3
- 1.9. List of Secondary Sources
- Chapter 2. Executive Summary
- 2.1. Market Outlook
- 2.2. Segment Outlook
- 2.3. Competitive Insights
- Chapter 3. North America Companion Animal Medicine Market Variables, Trends, & Scope
- 3.1. Market Lineage Outlook
- 3.1.1. Parent Market Outlook
- 3.1.2. Ancillary Market Outlook
- 3.2. Market Dynamics
- 3.2.1. Market Driver Analysis
- 3.2.1.1. Rapid Advancements in the Field of Companion Animal Medicine
- 3.2.1.2. Increasing Humanization of Pets & Expenditure on Pets
- 3.2.1.3. Support Initiatives
- 3.2.1.4. Changing Pet Demographics Globally
- 3.2.2. Market Restraint Analysis
- 3.2.2.1. Emergence of Adverse Drug Reactions (ADR)
- 3.2.2.2. Complex Regulations
- 3.2.3. Market Opportunity Analysis
- 3.2.4. Market Challenge Analysis
- 3.3. Market Analysis Tools
- 3.3.1. Porter’s Five Forces Analysis
- 3.3.2. PESTEL Analysis, by SWOT
- 3.4. Pricing Analysis, by Product
- 3.5. Product Pipeline Analysis
- 3.6. Estimated Disease Prevalence Analysis by Key Species, 2024
- Chapter 4. Global Companion Animal Medicine Market: By Product Estimates & Trend Analysis
- 4.1. Segment Dashboard
- 4.2. Global Companion Animal Medicine Market: By Product Movement Analysis, 2025 & 2034 (USD Million)
- 4.3. Biologics
- 4.3.1. Biologics Market Estimates And Forecasts, 2021 - 2034 (USD Million)
- 4.3.2. Vaccines
- 4.3.2.1. Vaccines Market Estimates And Forecasts, 2021 - 2034 (USD Million)
- 4.3.2.2. Modified/ Attenuated Live
- 4.3.2.2.1. Modified/ Attenuated Live Market Estimates And Forecasts, 2021 - 2034 (USD Million)
- 4.3.2.3. Inactivated (Killed)
- 4.3.2.3.1. Inactivated (Killed) Market Estimates And Forecasts, 2021 - 2034 (USD Million)
- 4.3.2.4. Other Vaccines
- 4.3.2.4.1. Other Vaccines Market Estimates And Forecasts, 2021 - 2034 (USD Million)
- 4.3.3. Other Biologics
- 4.3.3.1. Other Biologics Market Estimates And Forecasts, 2021 - 2034 (USD Million)
- 4.3.3.2. Monoclonal Antibody (mAb)
- 4.3.3.2.1. Monoclonal Antibody (mAb) Market Estimates And Forecasts, 2021 - 2034 (USD Million)
- 4.3.3.2.2. Dogs
- 4.3.3.2.2.1. Dogs Market Estimates And Forecasts, 2021 - 2034 (USD Million)
- 4.3.3.2.3. Cats
- 4.3.3.2.3.1. Cats Market Estimates And Forecasts, 2021 - 2034 (USD Million)
- 4.3.3.3. Other Biologics (excluding mAb)
- 4.3.3.3.1. Other Biologics (excluding mAb) Market Estimates And Forecasts, 2021 - 2034 (USD Million)
- 4.4. Pharmaceuticals
- 4.4.1. Pharmaceuticals Market Estimates And Forecasts, 2021 - 2034 (USD Million)
- 4.4.2. Parasiticides
- 4.4.2.1. Parasiticides Market Estimates And Forecasts, 2021 - 2034 (USD Million)
- 4.4.3. Anti-infectives
- 4.4.3.1. Anti-infectives Market Estimates And Forecasts, 2021 - 2034 (USD Million)
- 4.4.4. Analgesics
- 4.4.4.1. Analgesics Market Estimates And Forecasts, 2021 - 2034 (USD Million)
- 4.4.5. Anti-inflammatory
- 4.4.5.1. Anti-inflammatory Market Estimates And Forecasts, 2021 - 2034 (USD Million)
- 4.4.6. Other Pharmaceuticals
- 4.4.6.1. Other Pharmaceuticals Market Estimates And Forecasts, 2021 - 2034 (USD Million)
- 4.5. Medicated Feed Additives
- 4.5.1. Medicated Feed Additives Market Estimates And Forecasts, 2021 - 2034 (USD Million)
- Chapter 5. Global Companion Animal Medicine Market: By Animal Estimates & Trend Analysis
- 5.1. Segment Dashboard
- 5.2. Global Companion Animal Medicine Market: By Animal Movement Analysis, 2025 & 2034 (USD Million)
- 5.3. Dogs
- 5.3.1. Dogs Market Estimates And Forecasts, 2021 - 2034 (USD Million)
- 5.4. Cats
- 5.4.1. Cats Market Estimates And Forecasts, 2021 - 2034 (USD Million)
- 5.5. Horses
- 5.5.1. Horses Market Estimates And Forecasts, 2021 - 2034 (USD Million)
- 5.6. Other Animals
- 5.6.1. Other Animals Market Estimates And Forecasts, 2021 - 2034 (USD Million)
- Chapter 6. Global Companion Animal Medicine Market: By Indication Estimates & Trend Analysis
- 6.1. Segment Dashboard
- 6.2. Global Companion Animal Medicine Market: By Indication Movement Analysis, 2025 & 2034 (USD Million)
- 6.3. Infectious Diseases
- 6.3.1. Infectious Diseases Market Estimates And Forecasts, 2021 - 2034 (USD Million)
- 6.4. Dermatologic Diseases
- 6.4.1. Dermatologic Diseases Market Estimates And Forecasts, 2021 - 2034 (USD Million)
- 6.5. Pain
- 6.5.1. Pain Market Estimates And Forecasts, 2021 - 2034 (USD Million)
- 6.6. Orthopedic Diseases
- 6.6.1. Orthopedic Diseases Market Estimates And Forecasts, 2021 - 2034 (USD Million)
- 6.7. Behavioral Diseases
- 6.7.1. Behavioral Diseases Market Estimates And Forecasts, 2021 - 2034 (USD Million)
- 6.8. Other Indications
- 6.8.1. Other Indications Market Estimates And Forecasts, 2021 - 2034 (USD Million)
- Chapter 7. Global Companion Animal Medicine Market: By Distribution Channel Estimates & Trend Analysis
- 7.1. Segment Dashboard
- 7.2. Global Companion Animal Medicine Market: By Distribution Channel Movement Analysis, 2025 & 2034 (USD Million)
- 7.3. Retail
- 7.3.1. Retail Market Estimates And Forecasts, 2021 - 2034 (USD Million)
- 7.4. E-commerce
- 7.4.1. E-commerce Market Estimates And Forecasts, 2021 - 2034 (USD Million)
- 7.5. Hospital/ Clinic Pharmacy
- 7.5.1. Hospital/ Clinic Pharmacy Market Estimates And Forecasts, 2021 - 2034 (USD Million)
- Chapter 8. Global Companion Animal Medicine Market: Regional Estimates & Trend Analysis
- 8.1. Regional Market Share Analysis, 2025 & 2034
- 8.2. Regional Market Dashboard
- 8.3. Regional Market Snapshot
- 8.4. Market Size, & Forecasts Trend Analysis, 2021 to 2034:
- 8.5. North America
- 8.5.1. North America market estimates and forecasts 2021 to 2034 (USD Million)
- 8.5.2. U.S.
- 8.5.2.1. Key Country Dynamics
- 8.5.2.2. Competitive Scenario
- 8.5.2.3. Regulatory Framework
- 8.5.2.4. U.S. market estimates and forecasts 2021 to 2034 (USD Million)
- 8.5.3. Canada
- 8.5.3.1. Key Country Dynamics
- 8.5.3.2. Competitive Scenario
- 8.5.3.3. Regulatory Framework
- 8.5.3.4. Canada market estimates and forecasts 2021 to 2034 (USD Million)
- 8.5.4. Mexico
- 8.5.4.1. Key Country Dynamics
- 8.5.4.2. Competitive Scenario
- 8.5.4.3. Regulatory Framework
- 8.5.4.4. Mexico market estimates and forecasts 2021 to 2034 (USD Million)
- 8.6. Europe
- 8.6.1. Europe market estimates and forecasts 2021 to 2034 (USD Million)
- 8.6.2. UK
- 8.6.2.1. Key Country Dynamics
- 8.6.2.2. Competitive Scenario
- 8.6.2.3. Regulatory Framework
- 8.6.2.4. UK market estimates and forecasts 2021 to 2034 (USD Million)
- 8.6.3. Germany
- 8.6.3.1. Key Country Dynamics
- 8.6.3.2. Competitive Scenario
- 8.6.3.3. Regulatory Framework
- 8.6.3.4. Germany market estimates and forecasts 2021 to 2034 (USD Million)
- 8.6.4. France
- 8.6.4.1. Key Country Dynamics
- 8.6.4.2. Competitive Scenario
- 8.6.4.3. Regulatory Framework
- 8.6.4.4. France market estimates and forecasts 2021 to 2034 (USD Million)
- 8.6.5. Italy
- 8.6.5.1. Key Country Dynamics
- 8.6.5.2. Competitive Scenario
- 8.6.5.3. Regulatory Framework
- 8.6.5.4. Italy market estimates and forecasts 2021 to 2034 (USD Million)
- 8.6.6. Spain
- 8.6.6.1. Key Country Dynamics
- 8.6.6.2. Competitive Scenario
- 8.6.6.3. Regulatory Framework
- 8.6.6.4. Spain market estimates and forecasts 2021 to 2034 (USD Million)
- 8.6.7. Norway
- 8.6.7.1. Key Country Dynamics
- 8.6.7.2. Competitive Scenario
- 8.6.7.3. Regulatory Framework
- 8.6.7.4. Norway market estimates and forecasts 2021 to 2034 (USD Million)
- 8.6.8. Sweden
- 8.6.8.1. Key Country Dynamics
- 8.6.8.2. Competitive Scenario
- 8.6.8.3. Regulatory Framework
- 8.6.8.4. Sweden market estimates and forecasts 2021 to 2034 (USD Million)
- 8.6.9. Denmark
- 8.6.9.1. Key Country Dynamics
- 8.6.9.2. Competitive Scenario
- 8.6.9.3. Regulatory Framework
- 8.6.9.4. Denmark market estimates and forecasts 2021 to 2034 (USD Million)
- 8.7. Asia Pacific
- 8.7.1. Asia Pacific market estimates and forecasts 2021 to 2034 (USD Million)
- 8.7.2. Japan
- 8.7.2.1. Key Country Dynamics
- 8.7.2.2. Competitive Scenario
- 8.7.2.3. Regulatory Framework
- 8.7.2.4. Japan market estimates and forecasts 2021 to 2034 (USD Million)
- 8.7.3. China
- 8.7.3.1. Key Country Dynamics
- 8.7.3.2. Competitive Scenario
- 8.7.3.3. Regulatory Framework
- 8.7.3.4. China market estimates and forecasts 2021 to 2034 (USD Million)
- 8.7.4. India
- 8.7.4.1. Key Country Dynamics
- 8.7.4.2. Competitive Scenario
- 8.7.4.3. Regulatory Framework
- 8.7.4.4. India market estimates and forecasts 2021 to 2034 (USD Million)
- 8.7.5. Australia
- 8.7.5.1. Key Country Dynamics
- 8.7.5.2. Competitive Scenario
- 8.7.5.3. Regulatory Framework
- 8.7.5.4. Australia market estimates and forecasts 2021 to 2034 (USD Million)
- 8.7.6. South Korea
- 8.7.6.1. Key Country Dynamics
- 8.7.6.2. Competitive Scenario
- 8.7.6.3. Regulatory Framework
- 8.7.6.4. South Korea market estimates and forecasts 2021 to 2034 (USD Million)
- 8.7.7. Thailand
- 8.7.7.1. Key Country Dynamics
- 8.7.7.2. Competitive Scenario
- 8.7.7.3. Regulatory Framework
- 8.7.7.4. Thailand market estimates and forecasts 2021 to 2034 (USD Million)
- 8.8. Latin America
- 8.8.1. Latin America market estimates and forecasts 2021 to 2034 (USD Million)
- 8.8.2. Brazil
- 8.8.2.1. Key Country Dynamics
- 8.8.2.2. Competitive Scenario
- 8.8.2.3. Regulatory Framework
- 8.8.2.4. Brazil market estimates and forecasts 2021 to 2034 (USD Million)
- 8.8.3. Argentina
- 8.8.3.1. Key Country Dynamics
- 8.8.3.2. Competitive Scenario
- 8.8.3.3. Regulatory Framework
- 8.8.3.4. Argentina market estimates and forecasts 2021 to 2034 (USD Million)
- 8.9. MEA
- 8.9.1. MEA market estimates and forecasts 2021 to 2034 (USD Million)
- 8.9.2. South Africa
- 8.9.2.1. Key Country Dynamics
- 8.9.2.2. Competitive Scenario
- 8.9.2.3. Regulatory Framework
- 8.9.2.4. South Africa market estimates and forecasts 2021 to 2034 (USD Million)
- 8.9.3. Saudi Arabia
- 8.9.3.1. Key Country Dynamics
- 8.9.3.2. Competitive Scenario
- 8.9.3.3. Regulatory Framework
- 8.9.3.4. Saudi Arabia market estimates and forecasts 2021 to 2034 (USD Million)
- 8.9.4. UAE
- 8.9.4.1. Key Country Dynamics
- 8.9.4.2. Competitive Scenario
- 8.9.4.3. Regulatory Framework
- 8.9.4.4. UAE market estimates and forecasts 2021 to 2034 (USD Million)
- 8.9.5. Kuwait
- 8.9.5.1. Key Country Dynamics
- 8.9.5.2. Competitive Scenario
- 8.9.5.3. Regulatory Framework
- 8.9.5.4. Kuwait market estimates and forecasts 2021 to 2034 (USD Million)
- Chapter 9. Competitive Landscape
- 9.1. Company Participant Categorization
- 9.2. Company Market Position Analysis/ Heat Map Analysis, 2025
- 9.3. Company Profile
- 9.3.1. Merck & Co., Inc.
- 9.3.1.1. Company overview
- 9.3.1.2. Financial performance
- 9.3.1.3. Product benchmarking
- 9.3.1.4. Strategic initiatives
- 9.3.2. Ceva
- 9.3.2.1. Company overview
- 9.3.2.2. Financial performance
- 9.3.2.3. Product benchmarking
- 9.3.2.4. Strategic initiatives
- 9.3.3. Vetoquinol
- 9.3.3.1. Company overview
- 9.3.3.2. Financial performance
- 9.3.3.3. Product benchmarking
- 9.3.3.4. Strategic initiatives
- 9.3.4. Zoetis
- 9.3.4.1. Company overview
- 9.3.4.2. Financial performance
- 9.3.4.3. Product benchmarking
- 9.3.4.4. Strategic initiatives
- 9.3.5. Boehringer Ingelheim International GmbH
- 9.3.5.1. Company overview
- 9.3.5.2. Financial performance
- 9.3.5.3. Product benchmarking
- 9.3.5.4. Strategic initiatives
- 9.3.6. Elanco Animal Health Incorporated
- 9.3.6.1. Company overview
- 9.3.6.2. Financial performance
- 9.3.6.3. Product benchmarking
- 9.3.6.4. Strategic initiatives
- 9.3.7. Ourofino Animal Health
- 9.3.7.1. Company overview
- 9.3.7.2. Financial performance
- 9.3.7.3. Product benchmarking
- 9.3.7.4. Strategic initiatives
- 9.3.8. Virbac
- 9.3.8.1. Company overview
- 9.3.8.2. Financial performance
- 9.3.8.3. Product benchmarking
- 9.3.8.4. Strategic initiatives
- 9.3.9. Phibro Animal Health Corporation
- 9.3.9.1. Company overview
- 9.3.9.2. Financial performance
- 9.3.9.3. Product benchmarking
- 9.3.9.4. Strategic initiatives
- 9.3.10. Dechra Pharmaceuticals Plc
- 9.3.10.1. Company overview
- 9.3.10.2. Financial performance
- 9.3.10.3. Product benchmarking
- 9.3.10.4. Strategic initiatives
- 9.3.11. Bimeda Inc.
- 9.3.11.1. Company overview
- 9.3.11.2. Financial performance
- 9.3.11.3. Product benchmarking
- 9.3.11.4. Strategic initiatives
- 9.4. List of other Key players
Pricing
Currency Rates
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