GVR Report cover Companion Animal Health Market Size, Share & Trends Report

Companion Animal Health Market Size, Share & Trends Analysis Report By Animal Type (Dogs, Cats), By Distribution Channel (Retail, E-commerce), By Product (Diagnostics, Vaccines), By End-use, And Segment Forecasts, 2023 - 2030

  • Report ID: GVR-2-68038-260-0
  • Number of Report Pages: 150
  • Format: PDF, Horizon Databook
  • Historical Range: 2018 - 2021
  • Forecast Period: 2023 - 2030 
  • Industry: Healthcare

Report Overview

The global companion animal health market size was valued at USD 21.6 billion in 2022 and is estimated to grow at a compound annual growth rate (CAGR) of 9.1% from 2023 to 2030. Growing pet population and expenditure, humanization of pets, increased activities by major market participants, expanding adoption of pet insurance, and rising medicalization rate are key factors driving the market growth. Over 75% of dogs and over 60% of cats visited a veterinarian in 2021, according to the American Veterinary Medical Association (AVMA). The incremental veterinary visits or the pace of medicalization will fuel the market growth in the upcoming years. The COVID-19 pandemic had a significant impact on the industry. Companies have to adjust to difficult circumstances while dealing with operational and logistical challenges.

U.S. Companion Animal Health Market size and growth rate, 2023 - 2030

In addition, the COVID-19 pandemic had a favorable effect on the market as pet adoption rates rose significantly during the predicted period. According to a study published in the journal Frontiers, the rate of pet adoption surged by 250% from 2019 to May 2021. 2020 had the greatest adoption rate ever recorded in the UK, practically emptying the country's animal shelter. In addition, given the great demand and need for veterinary services, many countries used digital services to lessen the impact of lockdowns. The rising funding from governments and key initiatives fueled the market growth. For example, the government supports the creation of new veterinary clinics and dispensaries as well as their improvement.

The introduction of mobile veterinarian services is being pursued by several state governments. For instance, the Andhra Pradesh government in India decided to establish mobile veterinary services in March 2021. In Hyderabad, 100 mobile veterinary clinics were introduced in September 2018. Additional private veterinary hospitals are being built throughout the country. A multispecialty veterinary facility for domestic animals will be built in Navi Mumbai, according to a March 2018 announcement by Tata Trust and People for Animals. The market is expected to grow during the forecast period due to the expansion of facilities for animal welfare and the improvement of access to companion animal medications.

Moreover, the increasing prevalence of pet illness is driving the growth of the market. The American Society for the Prevention of Cruelty to Animals states that parvovirus, cancer, rabies, heartworm, kennel cough, ringworm, and diabetes are some of the most often reported illnesses in dogs. Diabetes mellitus is a chronic disease that affects not only people but also companion animals. It can cause serious risks like cataracts, seizures, UTIs, kidney failure, and an enlarged liver. To avoid such potentially fatal situations, diabetes must be diagnosed and treated promptly. There has reportedly been a considerable increase in the number of dogs and cats diagnosed with diabetes in recent years.

In addition, worldwide pet insurance acceptance rates have risen as a result of the increasing pet humanization and pet ownership in various countries. According to the North American Pet Health Insurance Association (NAPHIA), the insured pet population in the United States increased by 28.3% in 2021 over 2020 (26.5% growth in the insured dog population and 37% growth in the insured cat population, respectively). Moreover, between 2020 and 2021, the number of insured pets in Canada increased by 22.7%.Medication coverage is common in pet insurance plans, typically for prescription-only pharmaceuticals. Therefore, market growth is being boosted by the increasing use of companion animal insurance.

Product Insights

By product, the pharmaceuticals segment held a dominant share of over 44.0% in 2022. The introduction of medications to aid in extending animal lifespan has been accelerated by a notable rise in companion animal ownership. In addition, the segment growth is being fueled by the existence of a significant number of market participants. For instance, the development, production, and marketing of veterinary pharmaceuticals are the primary goals of the European veterinary pharmaceutical company, Lamons Laboratories SA.The diagnostics segment is expected to register the highest CAGR of more than 10% from 2023 to 2030.

The increased prevalence of various diseases in pets is likely to promote R&D for advanced diagnostic tests and products, boosting market growth. Market participants also engage in R&D, product launches, and other strategic initiatives to increase the scope of their product offerings. To expand its pet diagnostics range, Zoetis launched Vetscan Imagyst, a diagnostic platform, in September 2020. IDEXX Laboratories provides a wide range of tests, equipment, and services for companion animals and is engaged in pet healthcare, veterinary diagnostics, and veterinary practice software.

Animal Type Insights

The dogs segment dominated the market with a share of over 40.0% in 2022. Dogs hold the majority of the market share as a result of rising pet healthcare costs, particularly in developed regions. One of the primary factors promoting segment growth is the rising prevalence of chronic disorders in dogs. VCA Animal Hospitals 2022 claims that the most prevalent preventive condition affecting dogs is obesity. In North America, between 25% and 30% of all dogs are obese, while between 40% and 45% of dogs between the ages of 5 and 11 are overweight. Similar to humans, 14.0 million adult dogs in the United States suffered from osteoarthritis, according to a March 2021 article by the Morris Animal Foundation. Osteoarthritis in dogs, according to orthopedic specialists, typically results from developmental problems, such as hip or elbow dysplasia.

The cat segment is expected to grow at the fastest CAGR of 9.4% over the forecast period. In Canada and other European nations, cat ownership is on the rise and is frequently preferred over dog ownership. The younger generations, particularly millennials, are becoming increasingly worried about the care of their pet cats. In countries like Germany, cats are among the most commonly adopted pets. For instance, according to FEDIAF's forecast, 26% of German households will have at least one cat by 2021. This number was significantly greater than it was in 2019. One of the key factors driving the segment growth is the increasing occurrence of infectious illnesses among cats. It is anticipated that this rise in disease prevalence will accelerate the uptake of medications and immunizations.

Distribution Channel Insights

By distribution channel, the hospital pharmacy segment held the largest share of over 47% in 2022.The global availability of veterinary clinics and hospital services has increased due to the rising pet adoption rate. For the best care of pets, veterinary clinics and hospitals with on-site pharmacies are essential because they assist pet owners in understanding the recommended dosage of medications and quick diagnosis. Another factor influencing segment growth is a rise in the number of veterinary experts.

According to the Federation of Veterinarians of Europe, about 72% of the services provided by veterinary clinics in the region are for companion animals like dogs.The e-commerce segment is expected to grow at the fastest CAGR of 12.8% over the forecast period. Online stores and e-commerce have developed into practical and accessible distribution channels for pet healthcare products. These online pharmacies offer a large selection of NSAIDs, dietary supplements, and other medicines in various ranges and amounts at competitive prices. They also make it possible for customers to shop more quickly and effectively. Due to a rise in the use of cell phones for medical purchases, there are many opportunities for segment growth.

End-Use Insights

The hospitals & clinics end-use segment held a dominant share of over 80% in 2022. This is due to an expansion of veterinary hospitals and clinics with innovative infrastructure around the world. Another aspect influencing the segment is a rise in the number of veterinarians. According to the AVMA, there were 124,069 veterinarians working in the US in 2022. In addition, the Canadian Veterinary Medical Association estimated that in 2022 there were about 15,322 veterinarians in Canada, with about 3,825 of them engaged in clinical practice. The expansion of veterinary facilities in Canada is a result of owners spending more on pet care and the growing significance of pets in Canadian homes.

Global Companion Animal Health Market share and size, 2022

The need for veterinary services, such as preventative care, medical care, and surgery, has increased as a result.The point-of-care/in-house testing segment is expected to rise significantly in the coming years due to an increase in the number of initiatives for animal healthcare and the availability of cost-effective tools for disease diagnosis and monitoring. Common veterinary point-of-care tests include those for cCRP, fructosamine, lactate, hemoglobin, fibrinogen, pancreatic lipase, NH3, phenobarbital, serum amyloid A (SAA), and T4. In addition, according to the Pet Wellness Report Bulletin, by constantly monitoring the pets through regular preventive tests, underlying problems, and diseases can be identified early.

Regional Insights

North America held a 35.98% share of the market in 2022due to the existence of numerous well-established pharmaceutical companies that are actively expanding their global reach and commercializing their products. Overall, rising pet ownership, advances in veterinary medicine, rising demand for specialized services, and expansion of pet insurance coverage, which makes it easier for pet owners to afford veterinary care, are expected to fuel the growth of the North America market.The Asia Pacific market is expected to grow at the fastest CAGR during the forecast period.

Companion Animal Health Market Trends, by Region, 2023 - 2030

The market is fueled by significant R&D investments made by international firms as well as ongoing initiatives to commercialize veterinary medicines and vaccines at cheaper costs. Moreover, the urgent need to reduce the high frequency of zoonotic illnessesis anticipated to fuel market growth in the coming years. One of the main reasons influencing companion animal health is increased pet adoption. The perception of pet owners in the region is changing as a result of growing pet humanization and rising adoption of the Western lifestyle. This shift in pet adoption practices is anticipated to fuel market growth.

Key Companies & Market Share Insights

The market is fragmented and competitive owing to the presence of several small to large market players. These organizations carry out several strategies to increase their market presence and share. Some of these initiatives include partnerships & collaborations, mergers & acquisitions, R&D, regional expansion, product launches, and more. For instance, Virbac provides a variety of pet dental health products, such as enzymatic toothpaste, dental chews, toothbrushes, and oral solutions. Moreover, in September 2022, Boehringer Ingelheim introduced Fencovis, a new vaccine that provides calves with passive immunity via maternal colostrum to prevent diarrhea.Some of the prominent players in the companion animal health market include:

  • Merck & Co., Inc.

  • Ceva

  • Vetoquinol S.A.

  • Zoetis

  • Boehringer Ingelheim GmbH

  • IDEXX Laboratories, Inc.

  • Elanco

  • Indian Immunologicals Ltd.

  • Virbac

  • Agrolabo SpA

  • Norbrook

Companion Animal Health Market Report Scope

Report Attribute


The market size value in 2023

USD 23.0 billion

The revenue forecast in 2030

USD 42.4 billion

Growth rate

CAGR of 9.1% from 2023 to 2030

Base year for estimation


Historical data

2018 - 2021

Forecast period

2023 - 2030

Report updated

July 2023

Quantitative units

Revenue in USD million/billion and CAGR from 2023 to 2030

Report coverage

Revenue forecast, company ranking, competitive landscape, growth factors, and trends

Segments covered

Product, animal type, distribution channel, end-use, region

Regions covered

North America; Europe; Asia Pacific; Latin America; MEA

Country Scope

U.S.; Canada; UK; Germany; Italy; France; Spain; Russia; The Netherlands; Switzerland; Sweden; Ireland; Poland Japan; China; India; South Korea; Australia; Thailand; Singapore; Malaysia, Indonesia; Philippines; Brazil; Mexico; Argentina; South Africa; Saudi Arabia; UAE; Turkey; Iran; Israel

Key companies profiled

Merck & Co., Inc.; Ceva; Vetoquinol S.A.; Zoetis; Boehringer Ingelheim GmbH; IDEXX Laboratories, Inc.; Elanco; Indian Immunologicals Ltd.; Virbac; Agrolabo S.p.A; Norbrook

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Global Companion Animal Health Market Report Segmentation

This report forecasts revenue growth and provides an analysis of the latest trends in each of the sub-segments from 2018 to 2030. For this report, Grand View Research has segmented the companion animal health market based on product, animal type, distribution channel, end-use, and region:

  • Product Outlook (Revenue, USD Million, 2018 - 2030)

    • Vaccines

    • Pharmaceuticals

      • OTC

      • Prescription

    • Feed Additives

    • Diagnostics

    • Others

  • Animal Type Outlook (Revenue, USD Million, 2018 - 2030)

    • Dogs

    • Cats

    • Equine

    • Others

  • Distribution Channel Outlook (Revenue, USD Million, 2018 - 2030)

    • Retail

    • E-commerce

    • Hospital Pharmacies

  • End-Use Outlook (Revenue, USD Million, 2018 - 2030)

    • Point-of-care/In-house Testing

    • Hospitals & Clinics

    • Others

  • Regional Outlook (Revenue, USD Million, 2018 - 2030)

    • North America

      • U.S.

      • Canada

    • Europe

      • UK

      • Germany

      • France

      • Italy

      • Spain

      • Russia

      • The Netherlands

      • Switzerland

      • Sweden

      • Ireland

      • Poland

      • Rest of Europe

    • Asia Pacific

      • Japan

      • China

      • India

      • Australia

      • South Korea

      • Singapore

      • Malaysia

      • Thailand

      • Indonesia

      • Philippines

      • Rest of Asia Pacific

    • Latin America

      • Brazil

      • Mexico

      • Argentina

      • Rest of Latin America

    • Middle East & Africa

      • South Africa

      • Saudi Arabia

      • Turkey

      • Iran

      • United Arab Emirates

      • Israel

      • Rest of MEA

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