Global Companion Animal Healthcare Market to Reach USD 36,100.13 Million by 2032 | CAGR of 6.6%
Category : Pharmaceuticals | Published Date : Jan 2025 | Type : Press Release
Companion Animal Healthcare Market Scope & Overview:
In the newly published report, Consegic Business Intelligence states that the Companion Animal Healthcare Market was valued at USD 21,650.55 million in 2024 and is projected to grow at a CAGR of 6.6%, reaching USD 36,100.13 million by 2032. Companion animal healthcare includes products and services like pharmaceuticals, vaccines, diagnostics, and nutritional supplements aimed at enhancing pet health and well-being. These offerings play a vital role in managing diseases, improving immunity, and ensuring the overall quality of life for pets. Key applications include veterinary clinics, diagnostic laboratories, and pet specialty stores.
The report comprises the Companion Animal Healthcare Market Share, Size & Industry Analysis, based on Animal (Dogs, Equine, Cats, Others), Product Type (Vaccines, Pharmaceuticals, Feed Additives, Diagnostics, Others), Distribution Channel (Veterinary Hospitals & Clinics, Retail Pharmacies, Online Pharmacies), End-User (Hospitals & Clinics, In-house Testing, Others), and Region (North America, Europe, Asia-Pacific, Latin America, Middle East & Africa), and Forecast, 2025-2032.
The report contains detailed information on Companion Animal Healthcare Market Trends, Opportunities, Value, Growth Rate, Segmentation, Geographical Coverage, Company Profiles, In-depth Expert Analysis, Revenue Forecast, Competitive Landscape, Growth Factors, Restraints or Challenges, Environment & Regulatory Landscape, PESTLE Analysis, PORTER Analysis, Key Technology Landscape, Value Chain Analysis, and Cost Analysis.
The rising adoption of veterinary telemedicine is significantly driving the market, providing remote access to professional veterinary consultations and improving healthcare outcomes. Additionally, the increasing focus on mental health solutions for companion animals offers lucrative opportunities for market expansion.
Segmental Analysis :
Based on animal type, the market is segmented into Dogs, Equine, Cats, and Others.
- Dogs accounted for the largest market share in 2024 due to their widespread adoption and increased spending on healthcare products like vaccines, pharmaceuticals, and diagnostics.
- Cats are expected to grow at the fastest rate, driven by rising urban pet adoption and advancements in feline healthcare solutions.
Based on product type, the market is segmented into Vaccines, Pharmaceuticals, Feed Additives, Diagnostics, and Others.
- Vaccines dominated the market in 2024 due to their essential role in disease prevention and the availability of government-supported immunization programs.
- Diagnostics are projected to grow at the fastest rate, supported by technological advancements in disease detection and increasing demand for early diagnosis.
Based on distribution channel, the market is segmented into Veterinary Hospitals & Clinics, Retail Pharmacies, and Online Pharmacies.
- Veterinary hospitals and clinics held the largest share in 2024, driven by the availability of specialized veterinarians and comprehensive treatment options.
- Online pharmacies are expected to register the fastest growth due to the convenience of home delivery, competitive pricing, and automated refill services.
Based on end-user, the market is segmented into Hospitals & Clinics, In-house Testing, and Others.
- Hospitals and clinics accounted for the largest share of 62.40% in 2024 due to advanced diagnostic and treatment services.
- In-house testing is anticipated to grow rapidly, driven by the availability of home-based diagnostic tools and increasing consumer preference for convenient healthcare solutions.
Based on regions, the market is segmented into North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America.
- North America dominated the market in 2024, valued at USD 7,181.67 million, due to high pet ownership, advanced veterinary infrastructure, and supportive pet insurance policies.
- Asia-Pacific is expected to register the fastest CAGR of 7.0%, driven by rising disposable incomes, increasing pet adoption, and improving veterinary services in China, India, and Japan.
| Report Attributes | Report Details |
| Study Timeline | 2019-2032 |
| Market Size in 2032 | USD 36,100.13 Million |
| CAGR (2025-2032) | 6.6% |
| Animal Type | Dogs, Equine, Cats, Others |
| Product Type | Vaccines, Pharmaceuticals, Feed Additives, Diagnostics, Others |
| Distribution Channel | Veterinary Hospitals & Clinics, Retail Pharmacies, Online Pharmacies |
| End-User | Hospitals & Clinics, In-house Testing, Others |
| By Region | North America(U.S., Canada, Mexico) Europe(U.K., Germany, France, Spain, Italy, Russia, Benelux, Rest of Europe) APAC(China, South Korea, Japan, India, Australia, ASEAN, Rest of Asia-Pacific) Middle East & Africa(GCC, Turkey, South Africa, Rest of MEA) LATAM(Brazil, Argentina, Chile, Rest of LATAM) |
Top Key Players & Competitive Landscape :
The competitive landscape encompasses major innovators, aftermarket service providers, industry giants, and niche players, all of which are thoroughly examined by Consegic Business Intelligence in terms of their strengths, weaknesses, and value-addition potential. This report includes detailed profiles of key players, market share analysis, mergers and acquisitions, resulting market fragmentation, and emerging partnership trends and dynamics.
List of prominent players in the Companion Animal Healthcare Industry:
- Zoetis Inc. (United States)
- Boehringer Ingelheim Animal Health (Germany)
- Merck Animal Health (United States)
- Elanco Animal Health (United States)
- Virbac S.A. (France)
- Hill's Pet Nutrition, Inc. (United States)
- Vetoquinol S.A. (France)
- Idexx Laboratories, Inc. (United States)
- Dechra Pharmaceuticals PLC (United Kingdom)
- Merial (now part of Boehringer Ingelheim) (Germany)
Recent Industry Developments :
- October 2024: Elanco Animal Health received FDA approval for Credelio Quattro, a chewable tablet for dogs targeting six parasitic infections, with a market launch planned for early 2025.
- September 2024: Royal Canin partnered with Friendicoes SECA to launch an Animal-Assisted Intervention (AAI) project in Indian cities, promoting mental well-being through therapeutic pet interactions.
- June 2024: IVC Evidensia acquired Well Pet Hospital in Ireland as part of its expansion strategy in veterinary services.
- January 2024: Ceva Santé Animale acquired Scout Bio, gaining access to gene therapy and monoclonal antibody solutions for chronic pet conditions.
