Companion Animal Drugs Market Analysis

Product (Drugs (Antiparasitic, Anti-inflammatory), Vaccines, Medicated Feed Additives)

In terms of product type, drugs segment is likely to account for more than 55.1% companion animal drugs market share by the end of 2037. The demand for drugs is propelled by increasing attachment toward pets, establishing the focus on pet health. As the furry members have become a crucial part of the human family, owners are now willing to spend on high-quality drugs and treatments. They are taking preventive measures for chronic diseases by ensuring regular health check-ups and vaccinations. This has further pushed veterinary clinics to obtain health and nutrient-related drugs to offer on-spot medication. Drugs are being further developed to cure long-term or chronic diseases.

Animal Type (Dogs, Cats, Horses)

Based on animal type, the dog segment is predicted to capture a remarkable share of the companion animal drugs market during the forecast period. Dogs are one of the most desirable pets for their faithfulness and true affection. This has further inflated the adoption of dogs in a massive volume, increasing the demand for medication and additives related to these fur buddies. In a study conveyed by the NLM in September 2022, 91% of the total participants in the study expressed their desire to adopt a dog as their pet in the future. This acts as evidence of rising dog adoption from shelters and rescue centers, subsequently magnifying the need for specific medications.

Our in-depth analysis of the global market includes the following segments: