Companion Animal Healthcare Market - Growth, Trends, and Forecast (2019 - 2024)

The market is segmented by Product Type (Therapeutics, Diagnostics), Animal type (Dogs and Cats, Horse, Others), and Geography.

Market Snapshot

Companion Animal Healthcare-1
Study Period:

2016-2024

Base Year:

2018

Fastest Growing Market:

Asia Pacific

Largest Market:

North America

CAGR:

7.2%

Key Players:

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Market Overview

Certain factors that are responsible for the growth of the companion animal healthcare market are increasing pet adoption across the globe, rising government initiatives for the sake of animal health, and growing technological advancements in the animal healthcare.

With the increasing nuclear families trend across the world has accelerated the pet ownership trend and is expected to continue during the forecast period.

Over the years, the trend of imbuing pets with human characteristics has increased the health and safety concerns among pet owners. According to a survey conducted by the American Veterinary Medical Association, in recent years, found that the expenditure towards pet’s health and veterinary care has witnessed a rise by 40%. This rise owes to the growing human-animal bond, which defines consumers’ willingness to spend more money on their pets. Further, the rising demand for pet healthcare insurance in the United States is expected to support this argument.

Scope of the Report

Companion animals provide companionship to human beings, as well as guard their houses and offices. Currently, the various types of health diseases developed in animals increased the demand for vaccines and diagnostic tests. This surge in demand is primarily due to the need to treat and cure a variety of diseases associated with the health of cats and dogs.

By Product Type
By Therapeutics
Vaccines
Parasiticides
Anti-Infectives
Medical Feed Additives
Other Therapeutics
By Diagnostics
Immunodiagnostic Tests
Molecular Diagnostics
Diagnostic Imaging
Other Diagnostics
By Animal Type
Dogs and Cats
Horses
Other Companion Animals
Geography
North America
US
Canada
Mexico
Europe
Germany
UK
France
Italy
Spain
Rest of Europe
Asia Pacific
China
Japan
India
Australia
South Korea
Rest of Asia-Pacific
Middle East and Africa
GCC
South Africa
Rest of Middle East and Africa
South America
Brazil
Argentina
Rest of South America

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Key Market Trends

Vaccines are Expected to Dominate the Therapeutics Segment

The three major types of vaccines available for companion animals are inactivated (killed) vaccines, which contain bacteria and virus that are grown in cultures and then killed by heating or chemical treatments, live attenuated vaccines, which contain live viruses or bacteria that have been severely weakened, and subunit vaccines, which contain viral or bacterial antigens that can trigger an immune response. Some of the common diseases in dogs are Canine Parvovirus, Canine Distemper, Parainfluenza, and diseases, such as feline viral rhinotracheitis, feline calicivirus, and feline panleukopenia are common among cats. These diseases can be cured by vaccines. Thus, an increase in the number of diseases is expected to augment the growth of the vaccines market for companion animals.

Companion Animal Healthcare-2

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Asia-Pacific Region is Expected to be the Attraction for This Market

The APAC region is an important and high potential market. The western matured markets contrast with the Asian countries that are showing higher growth potential, during the forecast period. Further, over the past several years, the market has witnessed a steady growth, owing to the changing perception of pet treatments and the increasing nuclear family system, in the region.

The region is endowed with a diverse set of markets. The Australian and Japanese markets are more aware of the products and have a quality-conscious pet owner. The buying pattern and social culture of the pet owners make them stand out from most of the other countries in the region. The Indian, Chinese, and Indonesian markets are the rapidly emerging markets, with a great potential for growth during the forecast period. The great economies, such as Taiwan, Malaysia, and South Korea are few ideal targets for the pet care companies.

Companion Animal Healthcare-3

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Competitive Landscape

The market for companion animal healthcare is majorly dominated by the few players such as Zoetis Inc., Bayer AG, Elanco, Virbac, etc. The largest share of the markets goes to such global players. However, there are few companies that are penetrating the market currently and are expected to hold substantials share in the market.

Major Players

  1. Bayer AG
  2. Zoetis
  3. Elanco
  4. Virbac
  5. Merck & Co.

* Complete list of players covered available in the table of contents below

Companion Animal Healthcare-4

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Deliverables

    2. 1.2 Study Assumptions

    3. 1.3 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Overview

    2. 4.2 Market Drivers

      1. 4.2.1 Increase in Pet Adoption, mostly by Nuclear Families

      2. 4.2.2 Rise in the number of Initiatives by Governments and Animal Welfare Associations

      3. 4.2.3 Advanced Technology in Animal Healthcare

    3. 4.3 Market Restraints

      1. 4.3.1 Use of Counterfeit Medicines

      2. 4.3.2 Increasing Costs of Animal Testing and Veterinary Care

    4. 4.4 Porter's Five Force Analysis

      1. 4.4.1 Threat of New Entrants

      2. 4.4.2 Bargaining Power of Buyers/Consumers

      3. 4.4.3 Bargaining Power of Suppliers

      4. 4.4.4 Threat of Substitute Products

      5. 4.4.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION

    1. 5.1 By Product Type

      1. 5.1.1 By Therapeutics

        1. 5.1.1.1 Vaccines

        2. 5.1.1.2 Parasiticides

        3. 5.1.1.3 Anti-Infectives

        4. 5.1.1.4 Medical Feed Additives

        5. 5.1.1.5 Other Therapeutics

      2. 5.1.2 By Diagnostics

        1. 5.1.2.1 Immunodiagnostic Tests

        2. 5.1.2.2 Molecular Diagnostics

        3. 5.1.2.3 Diagnostic Imaging

        4. 5.1.2.4 Other Diagnostics

    2. 5.2 By Animal Type

      1. 5.2.1 Dogs and Cats

      2. 5.2.2 Horses

      3. 5.2.3 Other Companion Animals

    3. 5.3 Geography

      1. 5.3.1 North America

        1. 5.3.1.1 US

        2. 5.3.1.2 Canada

        3. 5.3.1.3 Mexico

      2. 5.3.2 Europe

        1. 5.3.2.1 Germany

        2. 5.3.2.2 UK

        3. 5.3.2.3 France

        4. 5.3.2.4 Italy

        5. 5.3.2.5 Spain

        6. 5.3.2.6 Rest of Europe

      3. 5.3.3 Asia Pacific

        1. 5.3.3.1 China

        2. 5.3.3.2 Japan

        3. 5.3.3.3 India

        4. 5.3.3.4 Australia

        5. 5.3.3.5 South Korea

        6. 5.3.3.6 Rest of Asia-Pacific

      4. 5.3.4 Middle East and Africa

        1. 5.3.4.1 GCC

        2. 5.3.4.2 South Africa

        3. 5.3.4.3 Rest of Middle East and Africa

      5. 5.3.5 South America

        1. 5.3.5.1 Brazil

        2. 5.3.5.2 Argentina

        3. 5.3.5.3 Rest of South America

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Company Profiles

      1. 6.1.1 Bayer AG

      2. 6.1.2 Elanco Animal Health

      3. 6.1.3 Merck & Co.

      4. 6.1.4 Merial

      5. 6.1.5 Virbac

      6. 6.1.6 Vetoquinol SA

      7. 6.1.7 Zoetis Inc.

    2. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

**Competitive Landscape covers- Business Overview, Financials, Products and Strategies, and Recent Developments

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