Global Companion Animal Health Market Expected to Reach USD 55.5 Billion by 2033 - IMARC Group

November 14, 2024 | Healthcare

VIEW FULL TABLE OF CONTENTS

Global Companion Animal Health Market Statistics, Outlook and Regional Analysis 2025-2033

The global companion animal health market size was valued at USD 27.4 Billion in 2024, and it is expected to reach USD 55.5 Billion by 2033, exhibiting a growth rate (CAGR) of 7.32% from 2025 to 2033.

Companion Animal Health Market

To get more information on this market, Request Sample

The companion animal health market is witnessing substantial growth, fueled by continuous innovations and strategic collaborations. A significant driver is the industry’s focus on addressing specific health challenges in pets, such as chronic diseases and conditions requiring specialized treatment. For instance, in January 2024, Boehringer Ingelheim’s SENVELGO (velagliflozin oral solution) was awarded the 2023 Animal Health Best New Product for companion animals. SENVELGO simplifies care and enhances quality of life for both cats and their owners, and it is recognized for its effectiveness in feline diabetes treatment. Also, this development highlights the trend of innovation aimed at fulfilling unmet needs in animal health, resulting in better health outcomes and fostering trust among pet owners and veterinarians. Besides this, mergers and strategic acquisitions are pivotal in driving the market forward by expanding product offerings and technological capabilities. In November 2024, Dechra announced its upcoming acquisition of Invetx, known for developing monoclonal antibodies (mAbs) targeting chronic conditions in pets. This move bolsters Dechra’s portfolio with cutting-edge, long-lasting therapeutic solutions and marks its entry into the rapidly growing market, thereby emphasizing the trend towards advanced biologics in companion animal health. Therefore, such acquisitions enable companies to diversify their products, enhance their market presence, and drive future growth in specialized care for pets.

Moreover, region-specific partnerships are also shaping the landscape by improving accessibility to high-quality veterinary products. In August 2024, Boehringer Ingelheim India formed a strategic distribution partnership with Vvaan Lifesciences Pvt Ltd to expand its pet parasiticide portfolio. This collaboration, under Boehringer Ingelheim’s Animal Health Accelerated Growth Plan (AGP), aims to increase pet healthcare access in Tier 2 cities across India, addressing the growing demand and improving veterinary care standards. Such targeted efforts are crucial in making advanced pet health solutions more widely available, enhancing overall animal well-being in underserved regions. These developments collectively underscore the industry's commitment to innovation, strategic expansion, and improved access to care, reinforcing the positive trajectory of the companion animal health market.

Global Companion Animal Health Market Statistics, By Region

The market research report has also provided a comprehensive analysis of all the major regional markets, which include North America (the United States and Canada); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. According to the report, North America dominates the companion animal health market due to its advanced veterinary infrastructure, high pet ownership rates, and a strong focus on innovative healthcare solutions.

North America Companion Animal Health Market Trends:

North America is the dominating region in the market due to significant investment in R&D activities and collaborations among industry leaders contribute to the rapid development and distribution of cutting-edge products. In January 2024, BIO-CAT, Inc. partnered with Caldic North America to introduce proprietary probiotic strains and OPTIFEED solutions to the market. This partnership utilizes Caldic's extensive distribution network, enhancing the reach of BIO-CAT’s innovative pet digestive health products. Overall, these collaborations highlight the region's commitment to delivering advanced, high-quality care and supporting the health and well-being of pets, thereby solidifying North America's leadership in the companion animal health sector.

Europe Companion Animal Health Market Trends:

In Europe, the companion animal health market focuses on preventative care and innovative treatments. Germany, for instance, has invested heavily in advanced veterinary technologies and pet wellness services. Also, growth is driven by an increasing number of households with pets and higher spending on animal health. Meanwhile, companies are expanding offerings to include specialized treatments, such as advanced diagnostic tools and therapeutic solutions, thereby boosting overall pet health management.

Asia Pacific Companion Animal Health Market Trends:

The Asia Pacific region is experiencing rapid growth in companion animal health, driven by rising pet ownership and a growing middle class. In Japan, advanced veterinary care, including pet insurance and high-quality food, is becoming the norm. The market sees a surge in demand for specialized products, such as nutritional supplements and preventative medications, supported by the increasing awareness of animal well-being.

Latin America Companion Animal Health Market Trends:

In Latin America, the companion animal health market is expanding due to increased awareness and spending on pet care. Brazil leads with a robust pet industry and growing veterinary services. The market emphasizes affordable healthcare and vaccination programs. Companies are innovating with cost-effective solutions, such as localized vaccines and nutritional products, to meet the specific needs of the region's pet owners.

Middle East and Africa Companion Animal Health Market Trends:

The Middle East and Africa are gradually developing their companion animal health markets, with a focus on enhancing veterinary services and pet care awareness. In South Africa, rising disposable income and pet ownership fuel growth in health and wellness products. Besides this, regional trends include increased use of imported high-quality pet food and expanding veterinary clinics offering advanced services despite infrastructure challenges in certain areas.

Top Companies Leading in the Companion Animal Health Industry

Some of the leading companion animal health market companies include 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, and Zoetis Inc., among many others. In September 2023, Ceva Santé Animale (Ceva), the global animal health company, announced the launch of its highly anticipated "Call for Projects." This worldwide event aimed to discover and support new, innovative solutions for the well-being and care of companion animals and their pet parents. Moreover, in October 2023, Zoetis announced the U.S. commercial launch of Librela (bedinvetmab injection), demonstrating the company’s advanced leadership in canine innovation and dedication to providing individualized care to address the health needs of dogs.

Global Companion Animal Health Market Segmentation Coverage

On the basis of the animal type, the market has been bifurcated into dogs, cats, equine, and others, wherein dogs represent the most preferred segment. The dogs segment holds the largest share in the companion animal health market, reflecting the widespread ownership of dogs as pets globally.
Based on the product, the market is categorized into vaccines, pharmaceuticals, feed additives, diagnostics, and others. The escalating demand for new and more effective drugs is augmenting the growth of the segment.
On the basis of the end user, the market has been divided into point-of-care testing/in-house testing, veterinary hospitals and clinics, and others. Among these, veterinary hospitals and clinics exhibit a clear dominance in the market. Veterinary hospitals and clinics serve as the primary care providers for companion animals. This segment includes a comprehensive range of services, from routine check-ups and vaccinations to advanced surgical procedures and emergency care.

Report Features	Details
Market Size in 2024	USD 27.4 Billion
Market Forecast in 2033	USD 55.5 Billion
Market Growth Rate 2025-2033	7.32%
Units	Billion USD
Scope of the Report	Exploration of Historical Trends and Market Outlook, Industry Catalysts and Challenges, Segment-Wise Historical and Future Market Assessment: Animal Type Product End User Region
Animal Types Covered	Dogs, Cats, Equine, Others
Products Covered	Vaccines, Pharmaceuticals, Feed Additives, Diagnostics, Others
End Users Covered	Point-of-care Testing/In-house Testing, Veterinary Hospitals and Clinics, Others
Regions Covered	Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered	United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered	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 Inc., etc.
Customization Scope	10% Free Customization
Post-Sale Analyst Support	10-12 Weeks
Delivery Format	PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

Need more help?

Speak to our experienced analysts for insights on the current market scenarios.
Include additional segments and countries to customize the report as per your requirement.
Gain an unparalleled competitive advantage in your domain by understanding how to utilize the report and positively impacting your operations and revenue.
For further assistance, please connect with our analysts.

Global Companion Animal Health Market Expected to Reach USD 55.5 Billion by 2033 - IMARC Group

Purchase Options New Year Sale

Inquire Before Buying

Benefits of Customization

Personalize this research
Triangulate with your data
Get data as per your format and definition
Gain a deeper dive into a specific application, geography, customer, or competitor
Any level of personalization

Speak to an Analyst

Request Brochure

Get in Touch With Us

UNITED STATES

Phone: +1-631-791-1145

INDIA

Phone: +91-120-433-0800

UNITED KINGDOM

Phone: +44-753-714-6104

Email: sales@imarcgroup.com

Client Testimonials

IMARC made the whole process easy. Everyone I spoke with via email was polite, easy to deal with, kept their promises regarding delivery timelines and were solutions focused. From my first contact, I was grateful for the professionalism shown by the whole IMARC team. I recommend IMARC to all that need timely, affordable information and advice. My experience with IMARC was excellent and I can not fault it.

The IMARC team was very reactive and flexible with regard to our requests. A very good overall experience. We are happy with the work that IMARC has provided, very complete and detailed. It has contributed to our business needs and provided the market visibility that we required

We were very happy with the collaboration between IMARC and Colruyt. Not only were your prices competitive, IMARC was also pretty fast in understanding the scope and our needs for this project. Even though it was not an easy task, performing a market research during the COVID-19 pandemic, you were able to get us the necessary information we needed. The IMARC team was very easy to work with and they showed us that it would go the extra mile if we needed anything extra

Last project executed by your team was as per our expectations. We also would like to associate for more assignments this year. Kudos to your team.

We would be happy to reach out to IMARC again, if we need Market Research/Consulting/Consumer Research or any associated service. Overall experience was good, and the data points were quite helpful.

Arabian Plastic Manufacturing Company Ltd.

The figures of market study were very close to our assumed figures. The presentation of the study was neat and easy to analyse. The requested details of the study were fulfilled. My overall experience with the IMARC Team was satisfactory.

The overall cost of the services were within our expectations. I was happy to have good communications in a timely manner. It was a great and quick way to have the information I needed.

My questions and concerns were answered in a satisfied way. The costs of the services were within our expectations. My overall experience with the IMARC Team was very good.

I agree the report was timely delivered, meeting the key objectives of the engagement. We had some discussion on the contents, adjustments were made fast and accurate. The response time was minimum in each case. Very good. You have a satisfied customer.

We would be happy to reach out to IMARC for more market reports in the future. The response from the account sales manager was very good. I appreciate the timely follow ups and post purchase support from the team. My overall experience with IMARC was good.

IMARC was a good solution for the data points that we really needed and couldn't find elsewhere. The team was easy to work, quick to respond, and flexible to our customization requests.

IMARC did an outstanding job in preparing our study. They were punctual and precise, delivering all the data we required in a clear and well-organized format. Their attention to detail and ability to meet deadlines was impressive, making them a reliable partner for our project.

I wanted to express my sincere appreciation for your efforts in handling this matter. Your dedication and commitment have truly been commendable. It is evident that you have put in a tremendous amount of hard work and expertise into resolving the issues at hand. I would also like to take this opportunity to inform you that we are greatly interested

Overall, the deliverable was well organized and my experience with the project team was good. In particular, I appreciated how they responded when I requested additional information and the Japanese version.

The IMARC team were extremely professional and very cooperative. The team were also extremely flexible in making changes and modifications wherever required. The entire experience right from project kick-off to after sales support was fruitful and smooth.

I’d like to express my gratitude for the work you accomplished with the industry report. The way you responded to the requirements and delivered under tight timelines shows your expertise, exceptional work ethic and commitment to your customer’s success. The entire team and company are incredibly thankful for your dedication. Once again, thank you

The market reports from IMARC have been instrumental in guiding our business strategies. We found the reports comprehensive and data-driven, which helped us make informed decisions. The detailed insights and actionable data have consistently provided us with a competitive edge in a rapidly changing alcohol market.

One of the best things about IMARC is their flexibility and predisposition to tailor the reports and adapt to our needs. They are not just great in their researching and consulting solutions, but their service is unparallelled. We’ve worked with them a couple of times and we will keep working with them in future projects.

We recently commissioned multiple market research reports from IMARC, and the insights we received were invaluable. The depth of analysis, accuracy of data, and actionable recommendations have greatly enhanced our strategic decision-making.

The market estimates provided by your team were pretty much in line with what we were theorizing internally. Really appreciate the work on this.

The sale account manager and the service was excellent. The data and market trends gathered from the report was insightful and really assisted while planning future product and growth strategies.

The report is excellent and has good amount of data and our team is extremely happy with the information provided.

Thank you very much for your cooperation and post purchase support. We were really happy with the final deliverable, and the takeaways from the report.