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InsightAce Analytic Pvt. Ltd. announces the release of a market assessment report on the “Global Companion Animal Medicine Market Size, Share & Trends Analysis Report by Animal Type (Dogs, Cats, And Horses), Product (Pharmaceuticals and Medicated Feed Additives), Distribution Channel (Veterinary Hospitals and Clinics), And Indication (Antibiotics and Parasiticides)- Market Outlook and Industry Analysis 2034′′

The global Companion Animal Medicine market is estimated to reach over USD 54.5 billion by the year 2034, exhibiting a CAGR of 9.5% during the forecast period.

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The COVID-19 pandemic significantly impacted the animal healthcare sector, leading to increased costs for veterinary services and diagnostic testing. Many countries experienced substantial disruptions in supply chains and shortages of veterinary pharmaceuticals, driven by temporary export restrictions, manufacturing shutdowns, and the diversion of certain medications to human healthcare needs.

In response, organizations such as the U.S. Centers for Disease Control and Prevention (CDC) issued targeted guidelines in July 2020 to assist veterinarians in managing the care of companion animals during the public health crisis.

Despite these challenges, the animal healthcare market continues to demonstrate positive growth, supported by heightened investments in research and development aimed at advancing innovative solutions. For instance, Merck Animal Health committed USD 100 million in July 2021 to expand its manufacturing facility in Kansas, with the objective of increasing production capacity for animal vaccines.

Simultaneously, rising pet ownership has driven demand for smart monitoring and tracking technologies that enhance pet health and welfare. Key industry developments include Tractive's launch of an LTE-enabled GPS tracker for cats in January 2022 and Petlibro's introduction of the Granary Series automated pet feeder with a 5-liter camera system in June 2022. These innovations are expected to bolster demand for pet monitoring solutions, further contributing to the sustained growth of the animal healthcare market.

List of Prominent Players in the Companion Animal Medicine Market:

• Ashish Life Sciences Pvt Ltd (India)
• Bimeda, Inc.
• Biogénesis Bagó (US)
• Boehringer Ingelheim International GmbH.
• Brilliant Bio Pharma (India)
• Calier
• Ceva Sante Animale (France)
• Chanelle Pharma (Ireland)
• Dechra Pharmaceuticals PLC (UK)
• Eco Animal Health Group Plc. (UK)
• Elanco Animal Health Incorporated (US)
• Endovac Animal Health (US)
• HIPRA (Spain)
• Indian Immunologicals Ltd (India)
• Intas Pharmaceuticals (India)
• Kyoritsu Seiyaku (Japan)
• Lutim Pharma Pvt Ltd (India)
• Merck & Co., Inc.
• Neogen Corporation (US)
• Norbrook Holdings Limited (UK)
• Orion Group (Finland)
• Tianjin Ringpu Bio-Technology Co Ltd. (China)
• Vetindia Pharmaceuticals limited (India)
• Vetoquinol S.A.;
• Virbac
• Zenex Animal Health India Private Limited (India)
• Zoetis, Inc. (US)

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Market Dynamics

Drivers:
The COVID-19 pandemic, coupled with the widespread adoption of remote work arrangements, has contributed to a significant rise in pet ownership, largely driven by heightened awareness of mental health concerns, including anxiety and depression. According to the European Pet Food Industry: Facts and Figures 2022, Germany recorded approximately 10.3 million dogs and 16.7 million cats in 2021.

During the same period, 21% of German households owned at least one cat, while 19% owned at least one dog, highlighting a notable preference for feline companionship. This trend reflects a growing societal inclination toward pet ownership as a source of emotional support and stress mitigation.

Challenges:
Despite initiatives aimed at improving vaccination coverage among companion animals, uptake remains limited due to insufficient awareness, inadequate surveillance infrastructure, and gaps in reporting mechanisms. The lack of comprehensive, real-time data complicates strategic vaccine distribution and delays responses to disease outbreaks.

In many regions, underdeveloped monitoring systems result in slower diagnosis and reporting of animal health conditions. Additionally, financial constraints impede adoption, as some pet owners are hesitant to bear the costs associated with diagnostic procedures, preventive care, and surveillance.

While advancements in monitoring and vaccination systems are expected to reduce the prevalence of zoonotic diseases and enhance public health outcomes, widespread adoption is likely to remain limited without significant investment in awareness campaigns and infrastructure development.

Regional Trends:
North America is projected to maintain a leading position in the companion animal healthcare market over the forecast period. Growth is supported by rising pet ownership, increased awareness of animal health, and the presence of established market players. The region also benefits from higher expenditure on pet healthcare and an expanding pet population.

As per the American Pet Products Association (APPA) National Pet Owners Survey 2021–2022, approximately 70% of U.S. households-equivalent to 90.5 million homes-own pets. Between 2019 and 2020, around 69 million households owned dogs, while 45.3 million households owned cats, underscoring sustained demand for veterinary services and companion animal healthcare solutions across North America.

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Recent Developments:

• In January 2022, For the treatment of clinical manifestations of pruritus associated with allergic dermatitis in dogs and the treatment of clinical manifestations of atopic dermatitis in dogs that are at least 12 months old, Zoetis has been granted marketing authorization by the European Commission (EC) for Apoquel chewable tablets (oclacitinib).

Segmentation of Companion Animal Medicine Market-

By Animal Type-

• Dogs
• Cats
• Horses
• Others

By Product-

• Biologics
  • Vaccines
    • Attenuated Live Vaccines
    • Inactivated Vaccines
    • Recombinant Vaccines
    • Toxoid
    • Others
  • Pharmaceuticals
    • Parasiticides
    • Anti-infectives
    • Anti-inflammatory
    • Analgesics
    • Others
  • Medicated Feed Additives

By Indication-

• Infectious Diseases
• Dermatologic Diseases
• Pain
• Orthopedic Diseases
• Behavioral Diseases
• Other Indications

By Distribution Channel-

• Retail
• E-commerce
• Hospital Pharmacy

By Region-

North America-

• The US
• Canada
• Mexico

Europe-

• Germany
• The UK
• France
• Italy
• Spain
• Rest of Europe

Asia-Pacific-

• China
• Japan
• India
• South Korea
• Southeast Asia
• Rest of Asia Pacific

Latin America-

• Brazil
• Argentina
• Rest of Latin America

Middle East & Africa-

• GCC Countries
• South Africa
• Rest of Middle East and Africa

About Us:

InsightAce Analytic is a market research and consulting firm that enables clients to make strategic decisions. Our qualitative and quantitative market intelligence solutions inform the need for market and competitive intelligence to expand businesses. We help clients gain competitive advantage by identifying untapped markets, exploring new and competing technologies, segmenting potential markets and repositioning products. Our expertise is in providing syndicated and custom market intelligence reports with an in-depth analysis with key market insights in a timely and cost-effective manner.

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