Austin, June 27, 2025 (GLOBE NEWSWIRE) -- Companion Animal Health Market Size & Growth Analysis:

According to SNS Insider, the global Companion Animal Health Market was valued at USD 24.1 billion in 2023 and is projected to reach USD 51.15 billion by 2032, growing at a CAGR of 8.74% over the forecast period of 2024–2032.

Increasing acceptance of companion animals, increasing emotional inclination towards pets, and the development of advanced animal diagnostics, preventive medicine, and pharmaceuticals are some of the factors driving the growth of this market. Rising awareness towards animal well-being and ease of accessibility to health care is also driving the demand.

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Market Overview

The global companion animal health market is projected to experience solid growth due to the adoption of pets, improved awareness about the health and care of pets, and the desire to humanize animals. Veterinary medicine innovation, the advent of precision medicine in veterinary diagnostics, and the introduction of targeted therapies for chronic and infectious diseases have further glorified the panorama. A strong move toward preventive care, wellness products, and home-based diagnostics, along with better veterinary infrastructure and favorable government policies in many places.

The U.S. companion animal health industry, estimated at USD 6.85 billion in 2023, has a huge global market share. The growth in the region is estimated to be due to the rising spending on pets, growing veterinary R&D, and the developed pharmacy distribution network. The U.S. is also projected for rapid market growth with a CAGR of 8.63% through 2032, and an upcoming expansion in veterinary service penetration and pet insurance awareness.

Major Players Analysis Listed in this Report are:

Companion Animal Health Market Report Scope

Report Attributes	Details
Market Size in 2023	US$ 24.1 billion
Market Size by 2032	US$ 51.15 billion
CAGR	CAGR of 8.74% From 2024 to 2032
Base Year	2023
Forecast Period	2024-2032
Historical Data	2020-2022
Regional Analysis	North America (US, Canada, Mexico), Europe (Germany, France, UK, Italy, Spain, Poland, Turkey, Rest of Europe), Asia Pacific (China, India, Japan, South Korea, Singapore, Australia, Rest of Asia Pacific), Middle East & Africa (UAE, Saudi Arabia, Qatar, South Africa, Rest of Middle East & Africa), Latin America (Brazil, Argentina, Rest of Latin America)

Segment Analysis

By Animal:

The dogs segment was the forerunner in the companion animals health market in 2023, contributing to 39% of the total market revenue. Dogs are becoming more and more part of the family, leading to standard veterinary care and vaccination, and treatments. Their increased vulnerability to suffering from chronic diseases and parasitic infections increases the need for continuous healthcare.

By Product:

Pharmaceuticals led the market in 2023, accounting for over 43% of the market size. Such determination is a result of the broad market acceptance of therapies to treat infections, chronic conditions, and pain, as well as the growing use of parasiticides and vaccines. The increasing prevalence of zoonotic diseases is further accelerating the demand for pharmaceutical-based interventions.

By Distribution Channel:

The hospital pharmacies segment dominated the market in 2023, contributing 48% of the market share. It is necessarily an unrivaled position that these organizations hold due to their access to specialized medicines, having staff with professional certification, and a link to the use of clinics for small animals. They also help in adherence to treatment guidelines and ensure access to prescription drugs.

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Companion Animal Health Market Segmentation

By Animal

By Distribution Channel

By Product

Others

By End-Use

Regional Analysis

The largest regional market, North America, was responsible for 36% of revenues in 2023 in the global companion animal health market. This leadership position is the result of key market players, robust veterinary healthcare infrastructure, greater disposable income, and a large number of pet owners across the U.S. and Canada. The U.S., especially, demonstrates a large expenditure on veterinary services and preventative treatment encouraged by growing pet insurance penetration and adoption of digital health solutions.

APAC is the fastest-growing market for veterinary parasiticides, driven by urbanization, growing pet ownership in countries such as China, India, and Japan, and the presence of regional players in the veterinary pharmaceuticals business. Growing concern for animal health and an increasing number of organized pet retail chains also drive the regional market.

Recent Developments

Table of Contents – Major Key Points

1. Introduction

2. Executive Summary

3. Research Methodology

4. Market Dynamics Impact Analysis

5. Statistical Insights and Trends Reporting

6. Competitive Landscape

7. Companion Animal Health Market by Animal

8. Companion Animal Health Market by Distribution Channel

9. Companion Animal Health Market by Product

10. Companion Animal Health Market by End-Use

11. Regional Analysis

12. Company Profiles

13. Use Cases and Best Practices

14. Conclusion

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