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Companion Animal Pharmaceuticals Global market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033
The Business Research Company's Companion Animal Pharmaceuticals Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033
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LONDON, GREATER LONDON, UNITED KINGDOM, October 17, 2024 /EINPresswire / -- The companion animal pharmaceuticals market has experienced robust growth in recent years, expanding from $15.23 billion in 2023 to $16.63 billion in 2024 at a compound annual growth rate (CAGR) of 9.2%. The growth in the historic period can be attributed to humanization of pets, preventive healthcare measures, rise in pet insurance, changing lifestyle and urbanization, zoonotic disease concerns, zoonotic disease concerns, veterinary healthcare accessibility.
What Is The Estimated Market Size Of The Global Companion Animal Pharmaceuticals Market And Its Annual Growth Rate?
The companion animal pharmaceuticals global market is projected to continue its strong growth, reaching $24.2 billion in 2028 at a compound annual growth rate (CAGR) of 9.8%. The growth in the forecast period can be attributed to personalized medicine for pets, telehealth and remote veterinary services, focus on nutrition and nutraceuticals, one health initiatives, expansion of veterinary diagnostic services. Major trends in the forecast period include advancements in veterinary medicine, specialized therapeutics for aging pets, regulatory compliance and safety standards, collaborations and partnerships.
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Growth Driver Of The Companion Animal Pharmaceuticals Market
The growing prevalence of zoonotic diseases is expected to propel the growth of the companion animal pharmaceuticals market going forward. A zoonotic illness is a disease that can be naturally transferred from vertebrate animals to humans or from people to vertebrate animals. The pharmaceutical industry is embracing modern tactics and strategies that are consistent with one set of health principles in order to combat zoonotic illnesses and lower the likelihood of transmission.
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Which Market Players Are Steering The Companion Animal Pharmaceuticals Market Growth ?
Key players in the market include Elanco Animal Health Incorporated, Boehringer Ingelheim International GmbH, Ceva Santé Animale, Chanelle Pharma, Eco Animal Health Group plc, Ashish Life Science Pvt. Ltd., Endovac Animal Health, Hipra Laboratories, Indian Immunologicals Ltd., Inovet Group, Kyoritsu Seiyaku Corporation, Lutim Pharma Pvt. Ltd., Merck & Co. Inc., Norbrook Laboratories Ltd., Tianjin Ringpu Bio-Technology Co. Ltd., Vetoquinol S.A., Virbac S.A., Zoetis Inc., Agrolabo S.p.A., ALS Pvt. Ltd., Zydus Animal Health and Investments Limited, Eli Lilly and Company, IDEXX Laboratories Inc., Merial Limited, Novartis Animal Health Inc., Dechra Pharmaceuticals PLC, Aratana Therapeutics Inc., Phibro Animal Health Corporation, Kindred Biosciences Inc., Jaguar Health Inc., Nexvet Biopharma plc, Sentinel Biomedical Inc., PetMed Express Inc., Neogen Corporation, Heska Corporation, Synbiotics Corporation, Eurovet Animal Health B.V., Vironova AB, Abaxis Inc., Bioiberica S.A.U., Putney Inc., Lohmann Animal Health International.
What Are The Key Trends That Influence Companion Animal Pharmaceuticals Market Share And Analysis?
Embracing big data technologies is a key trend gaining popularity in the companion animal pharmaceuticals. Major companies operating in the companion animal pharmaceuticals market are focused on developing new technological solutions to strengthen their position.
How Is The Global Companion Animal Pharmaceuticals Market Segmented?
1) By Animal Type: Dogs, Cats, Horses, Other Companion Animals
2) By Indication: Infectious Diseases, Dermatologic Diseases, Pain, Orthopedic Diseases, Behavioral Diseases, Other Indications
3) By Distribution Channels: Veterinary Hospitals, Veterinary Clinics, Retail Pharmacies
Geographical Insights: North America Leading The Companion Animal Pharmaceuticals Market
North America was the largest region in the companion animal pharmaceuticals market in 2023. Asia-Pacific is expected to be the fastest-growing region in the companion animal pharmaceuticals global market report during the forecast period. The regions covered in the companion animal pharmaceuticals global market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Companion Animal Pharmaceuticals Market Definition
Companion animal pharmaceuticals refer to the pharmaceutical medication process in which animal pharmacists insist on medications, fill prescriptions, and manage drug therapies for animals. It is used in the diagnosis, mitigation, and treatment of different animal diseases.
Companion Animal Pharmaceuticals Global Market Report 2024 from The Business Research Company covers the following information:
.Market size data for the forecast period: Historical and Future
.Macroeconomic factors affecting the market in the short and long run
.Analysis of the macro and micro economic factors that have affected the market in the past five years
.Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
.Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
An overview of the global companion animal pharmaceuticals market report covering trends, opportunities, strategies, and more
The Companion Animal Pharmaceuticals Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on companion animal pharmaceuticals market size, companion animal pharmaceuticals market drivers and trends, major players, companion animal pharmaceuticals competitors' revenues, companion animal pharmaceuticals market positioning, and companion animal pharmaceuticals market growth across geographies. The companion animal pharmaceuticals market global report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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The Business Research Company
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