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Pulished Date February, 2020
ID: 1175
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Global Companion Animal Healthcare Market Size, Share, Trends, COVID-19 Impact & Growth Analysis Report – Segmented By Product Type, Pharmaceutical Products and Region - Industry Forecast (2020 to 2025)

Pulished: February, 2020
ID: 1175
Pages: 175

Companion Animal Healthcare Market Size (2020 to 2025)

As per our report, the size of the global companion animal healthcare market was worth USD 15.3 Billion in 2020 and estimated to reach USD 20.7 Billion by the end of 2025, registering a CAGR of 6.26% during the forecast period.

Companion animals are pets kept for the safety of a person, company, property, or home. Such animals help to deter theft and to create a healthy environment. The most common pets are dogs and cats. In many lives, service animals play an essential part, offering a sense of belonging and obligation. The most widely used products for animal health are animal health products, mainly feed. Many people value companion animals in their lives because they have a sense of identity and responsibility.

The most commonly used products for animal healthcare are animal health products, which mainly include. The drug market, which provides for pharmaceuticals and vaccines, contributes to these species' health and well-being. Animals get nutrients from these things. Ownership and spending on companion animals have risen steadily over the last few decades. Animal owners are paying more money per pet than they do in the past. Imbuing pets with human traits has raised health and safety issues among pet owners over the years. Consumers' ability to spend more money on their pets increases due to the rising human-animal relationship.

MARKET DRIVERS:

The rising number of pets, growing government support, and technology developments are the primary factors driving the global companion animal healthcare market.

Pets play a vital role in many lives by protecting a person, property, or residence, accelerating ownership across the world. The growth in pet ownership is undoubtedly a significant factor in boosting the market growth for the global companion animal healthcare market. According to the data published by Pet Secure, the United States has the highest ownership among all the nations (which includes 69,929,000 dogs, 74,059,000 cats, 8,300,000 birds, and 57,750,000 Fishes) and further stated that the American is spending an amount of 50 billion USD per annum on pets.

Additionally, the growing urbanized population, increasing prevalence of animal health care by providing quality food products further lavish the market's growth rate. The rise in the scale of veterinary hospitals with private and public organizations is also favoring the market growth. The global companion animal healthcare market is additionally fuelled by the increasing investments in the pharmaceutical industries to improve the quality of drugs and vaccines.

An increase in disposable income and recent trends leads to the rise in the number of companion animals and growing pet insurance options in many countries, further propelling the demand of the companion animal healthcare market.

MARKET RESTRAINTS:

The high cost of animal diagnosis of a product recall, rise in the complication issues, and lack of standardization are slowly restraining the market demand. Also, less knowledge over the dosage levels of the drugs and fluctuations in the availability of the raw materials raise the price of the final products, further hindering the growth of the global companion animal healthcare market.

Impact of COVID-19 on the global companion animal healthcare market:

The COVID-19 epidemic began spreading worldwide in the early years of 2021, infecting millions of people and causing major governments worldwide to declare it a public health emergency. The emerging COVID-19 outbreak has harmed many markets. The outbreak of Coronavirus disease (COVID-19) served as a major constraint on the animal medicine industry, as trade restrictions disrupted supply chains, and demand fell due to government lockdowns around the world. However, since the shock was a 'big short' event unrelated to ongoing or fundamental weaknesses in the industry or the global economy, it is estimated that the animal medicine market will recover over the forecast period. Pet insurance penetration rates are below 1% in developed economies such as the United States but around 20% in Western European countries such as the United Kingdom. The pet insurance market in the United States is projected to rise at a compound annual growth rate of 14% over the forecast period, from $1 billion in 2018 to $2 billion in 2022, owing to growing customer awareness and companion animal owners' rising disposable income. As pet insurance becomes more widely available, the number of visits to veterinary vets will rise, bolstering veterinary healthcare to treat various diseases. As a result, the companion animal healthcare market is forecasted to have progressive growth during the forecast period.

REPORT COVERAGE:

REPORT METRIC

DETAILS

Market Size Available

2019 to 2025

Base Year

2019

Forecast Period

2020 to 2025

Segments Covered

By Type, Production Technologies, and Region

Various Analyses Covered

Global, Regional & Country Level Analysis, Segment-Level Analysis, Drivers, Restraints, Opportunities, Challenges, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview on Investment Opportunities

Regions Covered

North America, Europe, Asia Pacific, Latin America, Middle East, and Africa

 

This research report on the global companion animal healthcare market segmented based on the type, production technologies, and region.

Companion Animal Healthcare Market - By Product Type:

  • Feed Additives
    • Nutritional Feed Additives
      • Proteins
      • Minerals
      • Amino Acids
      • Vitamins
    • Medicinal Feed Additives
      • Enzymes
      • Probiotics
      • Hormones
      • Immune Modulators
      • Prebiotics
      • Feed Acidifiers
  • Pharmaceuticals
  • Vaccines

Based on product type, the Nutritional feed additives segment held leading shares in the market in 2019. On the other hand, medicinal feed additives are estimated to grow at an impressive CAGR due to the growing need for companion animals' treatment options.

The vaccine segment is expected to perform in this market in the coming years competently. Increasing capital income in both developed and developing countries is lavishing the market demand for this segment. Rising incidences of various health disorders in companion animals fuel the demand for vaccines in this market.

Companion Animal Healthcare Market - By Pharmaceutical Products:

  • Ectoparasiticides
  • Endectocides
  • Antibiotics
  • Anti-inflammatories
  • Medicines for curing reproductive problems

Companion Animal Healthcare Market – By Region:

  • North America
  • Europe
  • Asia-Pacific
  • Latin America
  • The Middle East and Africa

Geographically, the North American companion animal healthcare market is predicted to lead the global market owing to many existing players in the market who focus on promoting investment opportunities in the animal healthcare industry, many of which are located in the United States. The demand for North American animal healthcare is being driven by a growing trend among consumers for pets. According to the American Pet Products Association, total household pet ownership increased to 68% in 2016, up from 54% in 2009. In addition, the increasing need for pet health insurance in the United States is likely to support this argument. Over the past few decades, the number of people who own and spend money on domestic animals has slowly increased. When the number of individuals who own pets increases, so does the emphasis on animal healthcare and vaccination and the demand for animal healthcare products.

The European market is the second-largest market, owing to an increase in pet ownership due to government tax relief, which has fueled the market's growth in the region.

The Asia Pacific follows North America to hold the most significant shares of the market due to adopting the latest technologies in treatment procedures. Also, increasing support from the government with the upcoming constructional activities of the hospitals is escalating the demand of the market. Furthermore, due to the evolving understanding of pet care and the increasing nuclear family system in the area, the market has been steadily growing for several years. The area boasts a wide range of markets. The Australian and Japanese markets are more aware of pet products and have pet owners concerned about quality. Pet owners stand out from the rest of the region because of their buying patterns and social culture. Indian, Chinese, and Indonesian markets are rapidly developing markets with significant growth potential in the near future.

The Middle East and Africa are deemed to have slight variations in the growth rate in foreseen years.

KEY MARKET PLAYERS;

A few of the prominent companies dominating the global companion animal healthcare market profiled in the report are Bayer HealthCare AG, Bioniche Animal Health Canada, Sanofi Animal Health, Inc., Biogenesis Bago SA, Heska Corporation, Indian Immunologicals Ltd., Boehringer Ingelheim GmbH, Zoetis, Novartis Animal Health, Inc., Merck & Co. Inc. and Protein Sciences.

The market is very competitive, with major players accounting for about three fourth of the market. So, the companies focus more on their research and advancement in developmental activities to produce better pharmaceutical and vaccine products for their existing and newly diagnosed diseases. More significant investment in Research and Development to develop drugs would fetch companion animal healthcare companies’ lucrative profits in the coming 15-20 years.

MAJOR HAPPENINGS IN THIS MARKET IN THE RECENT PAST:

  • In April 2019, Vita animal health launched a new animal companion health supplement. This product supports cardiovascular, joint and skin health-related problems in the cat, dogs, rabbits, and horse.
  • In February 2018, BioCheck introduced Avian Influenza H5-H7-H9 multiplex, which helps to diagnose influenza in poultry. 

1.Introduction                  

                1.1 Market Definition    

                1.2 Study Deliverables  

                1.3 Base Currency, Base Year and Forecast Periods           

                1.4 General Study Assumptions

2. Research Methodology                           

                2.1 Introduction              

                2.2 Research Phases      

                                2.2.1 Secondary Research

                                2.2.2 Primary Research

                                2.2.3 Econometric Modelling

                                2.2.4 Expert Validation

                2.3 Analysis Design         

                2.4 Study Timeline          

3. Overview                      

                3.1 Executive Summary

                3.2 Key Inferences         

                3.3 Epidemology             

4. Drivers, Restraints, Opportunities, and Challenges Analysis (DROC)                      

                4.1 Market Drivers          

                4.2 Market Restraints    

                4.3 Key Challenges         

                4.4 Current Opportunities in the Market

5. Market Segmentation                              

                5.1 Product        

                                5.1.1 Introduction

                                5.1.2 Feed Additives

                                5.1.3 Pharmaceuticals

                                5.1.4 Vaccines

                                5.1.5 Y-o-Y Growth Analysis, By Product

                                5.1.6 Market Attractiveness Analysis, By Product

                                5.1.7 Market Share Analysis, By Product

6. Geographical Analysis                              

                6.1 Introduction              

                                6.1.1 Regional Trends

                                6.1.2 Impact Analysis

                                6.1.3 Y-o-Y Growth Analysis

                                6.1.4 Market Attractiveness Analysis

                                6.1.5 Market Share Analysis        

                6.2 North America          

                                6.1.2 United States

                                6.1.3 Canada 

                6.3 Europe         

                                6.2.1 Introduction

                                6.2.2 U.K

                                6.2.3 Spain

                                6.2.4 Germany

                                6.2.5 Italy 

                                6.2.6 France

                6.4 Asia-Pacific 

                                6.3.1 Introduction

                                6.3.2 China 

                                6.3.3 India 

                                6.3.4 Japan 

                                6.3.5 Australia

                                6.3.6 South Korea

                6.5 Latin America            

                                6.4.1 Introduction

                                6.4.2 Brazil

                                6.4.3 Argentina

                                6.4.4 Mexico

                                6.4.5 Rest of Latin America

                6.6 Middle East & Africa

                                6.5.1 Introduction

                                6.5.2 Middle-East

                                6.5.3 Africa

7.Strategic Analysis                        

                7.1 PESTLE analysis         

                                7.1.1 Political

                                7.1.2 Economic

                                7.1.3 Social

                                7.1.4 Technological

                                7.1.5 Legal

                                7.1.6 Environmental

                7.2 Porter’s Five analysis              

                                7.2.1 Bargaining Power of Suppliers

                                7.2.2 Bargaining Power of Consumers

                                7.2.3 Threat of New Entrants

                                7.2.4 Threat of Substitute Products and Services

                                7.2.5 Competitive Rivalry within the Industry

8.Market Leaders' Analysis                          

                8.1 Pfizer Animal health Ltd        

                                8.1.1 Overview

                                8.1.2 Product Analysis

                                8.1.3 Financial analysis

                                8.1.4 Recent Developments

                                8.1.5 SWOT analysis

                                8.1.6 Analyst View

                8.2 Merck & Co Inc.        

                8.3 Sanofi Aventis Animal Health              

                8.4 Zoetis Inc.   

                8.5 Boehringer Ingelheim GmbH              

                8.6 Elanco Products Company   

                8.7 Bayer AG     

                8.8 Novartis animal Health Inc.  

                8.9 Virbac SA     

                8.10 Ceva Sante Animale             

                8.11 Vetoquinol SA         

9.Competitive Landscape                            

                9.1 Market share analysis            

                9.2 Merger and Acquisition Analysis        

                9.3 Agreements, collaborations and Joint Ventures          

                9.4 New Product Launches          

10.Market Outlook and Investment Opportunities                           

Appendix                           

                a) List of Tables

                b) List of Figures              

  • Global, Regional and country-level analysis and forecasts of the study market; providing Insights on the major countries/regions in which this industry is blooming and to also identify the regions that are still untapped
  • Segment-level analysis in terms of By Product along with market size forecasts and estimations to detect key areas of industry growth in detail
  • Identification of key drivers, restraints, opportunities, and challenges (DROC) in the market and their impact on shifting market dynamics
  • Study of the effect of exogenous and endogenous factors that affect the global market; which includes broadly demographic, economic, and political, among other macro-environmental factors presented in an extensive PESTLE Analysis
  • Study the microenvironment factors that determine the overall profitability of an Industry, using Porter’s five forces analysis for analyzing the level of competition and business strategy development
  • A comprehensive list of key market players along with their product portfolio, current strategic interests, key financial information, legal issues, SWOT analysis and analyst overview to study and sustain the market environment
  • Competitive landscape analysis listing out the mergers, acquisitions, collaborations in the field along with new product launches, comparative financial studies and recent developments in the market by the major companies
  • An executive summary, abridging the entire report in such a way that decision-making personnel can rapidly become acquainted with background information, concise analysis, and main conclusions
  • Expertly devised analyst overview along with Investment opportunities to provide both individuals and organizations a strong financial foothold in the market
  1. Global Companion Animal Healthcare Market By Region, From 2020-2025 ( USD Billion )
  2. Global Companion Animal Healthcare Market By Product type, From 2020-2025 ( USD Billion )
  3. Global Feed Additives Market By Region, From 2020-2025 ( USD Billion )
  4. Global Pharmaceuticals Market By Region, From 2020-2025 ( USD Billion )
  5. Global Vaccines Market By Region, From 2020-2025 ( USD Billion )
  6. Global Companion Animal Healthcare Market By Feed additives, From 2020-2025 ( USD Billion )
  7. Global Nutritional Feed Additives Market By Region, From 2020-2025 ( USD Billion )
  8. Global Medicinal Feed Additives Market By Region, From 2020-2025 ( USD Billion )
  9. North America Companion Animal Healthcare Market By Product type, From 2020-2025 ( USD Billion )
  10. North America Feed Additives Market By Region, From 2020-2025 ( USD Billion )
  11. North America Pharmaceuticals Market By Region, From 2020-2025 ( USD Billion )
  12. North America Vaccines Market By Region, From 2020-2025 ( USD Billion )
  13. United States Companion Animal Healthcare Market By Product type, From 2020-2025 ( USD Billion )
  14. Canada Companion Animal Healthcare Market By Product type, From 2020-2025 ( USD Billion )
  15. North America Companion Animal Healthcare Market By Feed additives, From 2020-2025 ( USD Billion )
  16. North America Nutritional Feed Additives Market By Region, From 2020-2025 ( USD Billion )
  17. North America Medicinal Feed Additives Market By Region, From 2020-2025 ( USD Billion )
  18. United States Companion Animal Healthcare Market By Feed additives, From 2020-2025 ( USD Billion )
  19. Canada Companion Animal Healthcare Market By Feed additives, From 2020-2025 ( USD Billion )
  20. Europe Companion Animal Healthcare Market By Product type, From 2020-2025 ( USD Billion )
  21. Europe Feed Additives Market By Region, From 2020-2025 ( USD Billion )
  22. Europe Pharmaceuticals Market By Region, From 2020-2025 ( USD Billion )
  23. Europe Vaccines Market By Region, From 2020-2025 ( USD Billion )
  24. U.K. Companion Animal Healthcare Market By Product type, From 2020-2025 ( USD Billion )
  25. Germany Companion Animal Healthcare Market By Product type, From 2020-2025 ( USD Billion )
  26. France Companion Animal Healthcare Market By Product type, From 2020-2025 ( USD Billion )
  27. Italy Companion Animal Healthcare Market By Product type, From 2020-2025 ( USD Billion )
  28. Spain Companion Animal Healthcare Market By Product type, From 2020-2025 ( USD Billion )
  29. Europe Companion Animal Healthcare Market By Feed addiitves, From 2020-2025 ( USD Billion )
  30. Europe Nutritional Feed Additives Market By Region, From 2020-2025 ( USD Billion )
  31. Europe Medicinal Feed Additives Market By Region, From 2020-2025 ( USD Billion )
  32. U.K. Companion Animal Healthcare Market By Feed additives, From 2020-2025 ( USD Billion )
  33. Germany Companion Animal Healthcare Market By Feed additives, From 2020-2025 ( USD Billion )
  34. France Companion Animal Healthcare Market By Feed additives, From 2020-2025 ( USD Billion )
  35. Italy Companion Animal Healthcare Market By Feed additives, From 2020-2025 ( USD Billion )
  36. Spain Companion Animal Healthcare Market By Feed additives, From 2020-2025 ( USD Billion )
  37. Asia-Pacific Companion Animal Healthcare Market By Product type, From 2020-2025 ( USD Billion )
  38. Asia-Pacific Feed Additives Market By Region, From 2020-2025 ( USD Billion )
  39. Asia-Pacific Pharmaceuticals Market By Region, From 2020-2025 ( USD Billion )
  40. Asia-Pacific Vaccines Market By Region, From 2020-2025 ( USD Billion )
  41. Japan Companion Animal Healthcare Market By Product type, From 2020-2025 ( USD Billion )
  42. China Companion Animal Healthcare Market By Product type, From 2020-2025 ( USD Billion )
  43. India Companion Animal Healthcare Market By Product type, From 2020-2025 ( USD Billion )
  44. Asia-Pacific Companion Animal Healthcare Market By Feed additives, From 2020-2025 ( USD Billion )
  45. Asia-Pacific Nutritional Feed Additives Market By Region, From 2020-2025 ( USD Billion )
  46. Asia-Pacific Medicinal Feed Additives Market By Region, From 2020-2025 ( USD Billion )
  47. Japan Companion Animal Healthcare Market By Feed additives, From 2020-2025 ( USD Billion )
  48. China Companion Animal Healthcare Market By Feed additives, From 2020-2025 ( USD Billion )
  49. India Companion Animal Healthcare Market By Feed additives, From 2020-2025 ( USD Billion )
  50. Latin America Companion Animal Healthcare Market By Product type, From 2020-2025 ( USD Billion )
  51. Latin America Feed Additives Market By Region, From 2020-2025 ( USD Billion )
  52. Latin America Pharmaceuticals Market By Region, From 2020-2025 ( USD Billion )
  53. Latin America Vaccines Market By Region, From 2020-2025 ( USD Billion )
  54. Brazil Companion Animal Healthcare Market By Product type, From 2020-2025 ( USD Billion )
  55. Rest of Latin America Companion Animal Healthcare Market By Product type, From 2020-2025 ( USD Billion )
  56. Latin America Companion Animal Healthcare Market By Feed addiitves, From 2020-2025 ( USD Billion )
  57. Latin America Nutritonal Feed Additives Market By Region, From 2020-2025 ( USD Billion )
  58. Latin America Medicinal Feed Additives Market By Region, From 2020-2025 ( USD Billion )
  59. Brazil Companion Animal Healthcare Market By Feed addiitves, From 2020-2025 ( USD Billion )
  60. Rest of Latin America Companion Animal Healthcare Market By Feed addiitves, From 2020-2025 ( USD Billion )
  61. Middle East & Africa Companion Animal Healthcare Market By Product type, From 2020-2025 ( USD Billion )
  62. Middle East & Africa Feed Additives Market By Region, From 2020-2025 ( USD Billion )
  63. Middle East & Africa Pharmaceuticals Market By Region, From 2020-2025 ( USD Billion )
  64. Middle East & Africa Vaccines Market By Region, From 2020-2025 ( USD Billion )
  65. Middle East Companion Animal Healthcare Market By Product type, From 2020-2025 ( USD Billion )
  66. Africa Companion Animal Healthcare Market By Product type, From 2020-2025 ( USD Billion )
  67. Middle East & Africa Companion Animal Healthcare Market By Feed addiitves, From 2020-2025 ( USD Billion )
  68. Middle East & Africa Nutritonal Feed Additives Market By Region, From 2020-2025 ( USD Billion )
  69. Middle East & Africa Medicinal Feed Additives Market By Region, From 2020-2025 ( USD Billion )
  70. Middle East Companion Animal Healthcare Market By Feed addiitves, From 2020-2025 ( USD Billion )
  71. Africa Companion Animal Healthcare Market By Feed addiitves, From 2020-2025 ( USD Billion )

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