Companion Animal Health Market Growth and Forecast 2022-2027

IMARC Group’s latest report, titled “Companion Animal Health Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, the global companion animal health market reached a value of US$ 21.18 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 36.19 Billion by 2027, exhibiting a CAGR of 8.80% during 2022-2027

Companion animal health represents the regular monitoring of the health of animals to detect diseases and other conditions that can put their lives in danger if left untreated. It involves the development of therapeutic vaccines, anti-neoplastic drugs, monoclonal antibody therapies, genomic tests, digital technologies, etc. Animals, such as dogs, cats, equines, etc., are taken for health diagnostics. Companion animal health finds widespread applications in veterinary hospitals, clinics, in-house testing, point-of-care testing, etc.

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Competitive Landscape with Key Players:

The competitive landscape of the industry has also been examined along with the profiles of the key players being

• Agrolabo S.p.A
• Boehringer Ingelheim
• Ceva Santé Animale
• Dechra Pharmaceuticals PLC
• Elanco Animal Health Incorporated
• IDEXX Laboratories Inc
• Indian Immunologicals Limited (National Dairy Development Board)
• Merck & Co. Inc
• Norbrook Laboratories
• Vetoquinol SA
• Virbac 
• Zoetis 

Companion Animal Health Market Demand and Growth:

Animal aging leads to a rise in the risk of obesity, osteoarthritis, tumors, cardiovascular diseases (CVDs), diabetes mellitus, hepatic, renal diseases, etc., which is primarily driving the companion animal health market. Besides this, the rising awareness towards the One Health (OH) approach initiative, which recognizes that public health is connected with animal health and is supported by the World Health Organization (WHO) and the American Veterinary Medical Association (AVMA), is further augmenting the market growth. Apart from this, the elevating utilization of animal-assisted therapy in various areas of human health care and the growing population of traditional companion animals, including dogs and cats, are also catalyzing the global market. Moreover, the inflating number of pet parents across counties who are aware of the overall health and well-being of companion animals is acting as another significant growth-inducing factor. Furthermore, the increasing prevalence of zoonotic diseases across the globe is expected to bolster the companion animal health market in the coming years.

Key Market Segmentation:

Breakup by Animal Type:

• Dogs
• Cats
• Equine
• Others
   

Breakup by Product:

• Vaccines
• Pharmaceuticals
• Feed Additives
• Diagnostics
• Others
   

Breakup by End User:

• Point-of-care Testing/In-house Testing
• Veterinary Hospitals and Clinics
• Others

Breakup by Region:

• North America (United States, Canada)
• Europe (Germany, France, United Kingdom, Italy, Spain, Others)
• Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
• Latin America (Brazil, Mexico, Others)
• Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other) 

Key Highlights of the Report: 

• Market Performance (2016-2021)
• Market Outlook (2022-2027)
• Porter’s Five Forces Analysis
• Market Drivers and Success Factors
• SWOT Analysis
• Value Chain
• Comprehensive Mapping of the Competitive Landscape