Global Companion Animal Health Market is valued approximately USD 18.43 Billion in 2019 and is anticipated to grow with a healthy growth rate of more than 9.60 % over the forecast period 2020-2027. Pets such as dogs and cats held for the safety of an individual, business, land, or residence are known as companion animals. These animals aid in the prevention of theft and have a secure atmosphere. Many people value companion animals because they give them a sense of belonging and obligation. The most widely used products for animal healthcare are animal health products, especially feeds. It also brings with it a demand for products such as pharmaceuticals and vaccines that benefit the health and well-being of these animals. The global companion animal healthcare market is being driven by an increasing number of pets, increased government funding, and technological advancements. Pets save lives by protecting people, property, and homes, resulting in an increase in pet ownership around the world, thus helping to drive the global companion animal healthcare industry forward. According to Pet Secure, the United States has the highest pet ownership rate of any country (with 69,929,000 dogs, 74,059,000 cats, 8,300,000 birds, and 57,750,000 fish) and spends USD 50 billion a year on pets. Also, as per survey by People's Dispensary for Sick Animals (PDSA) animal Wellbeing (PAW), 2019, over 50% of United Kingdom adults own a pet out of which over 24% of UK adults own cat, 26% of adults own dogs and over 2% of adults own rabbit. The ownership of cat in UK increased to 10.9 million in 2019 from 10.3 million in 2017 and similarly dogs ownership rose to 9.9 million in 2019 from 9.3 million in 2017. However, high cost of animal diagnosis of a product recall and rise in the complication issues is expected to hamper the growth of market.

The regional analysis of global Companion Animal Health market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. North America is the leading/significant region across the world in terms of market share owing to the presence of many existing players in the market focusing on promoting investment opportunities in the animal healthcare industry. Whereas Asia-Pacific is also anticipated to exhibit highest growth rate / CAGR over the forecast period 2020-2027. Factors such as increasing support from the government with the upcoming construction activities of the hospitals would create lucrative growth prospects for the Companion Animal Health market across Asia-Pacific region.

Major market player included in this report are:
Merck Animal Health
Ceva Sant Animale
Vetiquinol S.A.
Zoetis
Boehringer Ingelheim GmbH
Bayer AG
Elanco
Nutreco N.V.
Virbac
DRE Veterinary

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and Product Type offerings of key players. The detailed segments and sub-segment of the market are explained below:

By Product Type:
Therapeutics
Diagnostics
By Animal Type:
Dogs
Cats
Other Companion Animals

By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE

Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World

Furthermore, years considered for the study are as follows:

Historical year 2017, 2018
Base year 2019
Forecast period 2020 to 2027

Target Audience of the Global Companion Animal Health Market in Market Study:

Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers
Investors