Articles
Companion Animal Health Market Size - Key Players, Growth, Opportunities & Forecast 2027
by Sarena Peter Sr. Research Manager
The latest market report published by Credence Research, Inc. The global companion animal health market accounted for US$ 14.5 Bn in 2018 and is likely to witness growth, with a CAGR of 6.0% across the forecast period from 2019 to 2027.
The companion animal health market has seen significant growth over the past few years, and its trajectory indicates a promising future. With pets increasingly being treated as family members in many households worldwide, there is a rising demand for high-quality veterinary care, innovative treatments, and advanced health products for these animals.
One of the primary drivers for this market is the profound bond between humans and their pets. As pet ownership rises, so does the willingness of owners to spend on their animal companions. From regular health check-ups to advanced surgical procedures, diagnostics, and even therapeutic treatments, owners are investing more than ever in ensuring their pets have long, healthy lives.
Additionally, technological advancements play a pivotal role in propelling this market forward. State-of-the-art diagnostic equipment, telemedicine for pets, and the development of new vaccines and medicines have all expanded the range of treatments available for various ailments. This not only helps in the effective management of diseases but also in preventative care, which is becoming a key focus for many pet owners.
The rise in zoonotic diseases has also underscored the importance of maintaining good health in pets. Conditions that can transfer between animals and humans emphasize the need for regular vaccinations and check-ups, further propelling the companion animal health market.
However, as the market grows, it faces its own set of challenges. The cost of veterinary care can be prohibitive for some, potentially limiting access to essential health services. Moreover, with the influx of products and services, there is a need for stringent regulatory measures to ensure the safety and efficacy of treatments provided.
In conclusion, the companion animal health market holds immense potential. As our bond with our pets deepens, and as technology continues to evolve, we can anticipate even greater advancements and growth in this sector. Stakeholders, from veterinarians to pharmaceutical companies, have a pivotal role in ensuring the continued well-being of our beloved animal companions.
Browse the Full Report: https://www.credenceresearch.com/report/companion-animal-health-market
List of Companies Covered:
The major players identified in the companion animal health market include Zoetis, Jaguar Health, Elanco, Bayer AG, Merck & Co., Ceva, Boehringer Ingelheim International GmbH., Virbac., Vetoquinol S.A., Inc., Conklin Company Inc., and Nestle Purina Petcare among others.
By Segmentation Types:
By Product Type
Vaccines
Pharmaceuticals
OTC
Prescription
Feed Additives
Diagnostics
Others
By Animal Type
Dogs
Cats
Equine
Others
By Distribution Channel Type
Retail
E-commerce
Hospital Pharmacies
By End-Use Type
Point-of-care/In-house Testing
Hospitals & Clinics
Others
By Geography Type
- North America (U.S. and Rest of North America)
- Europe (U.K., Germany, France, and Rest of Europe)
- Asia Pacific (Japan, China, India, and Rest of Asia Pacific)
- Rest of World (Middle East & Africa (MEA), Latin America)
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About Sarena Peter 
Sr. Research Manager
0 connections, 0 recommendations, 8 honor points.Joined APSense since, October 8th, 2023, From San Jose, United States.
Created on Oct 18th 2023 11:40. Viewed 147 times.
