Impact Analysis of Covid-19

The complete version of the Report will include the impact of the COVID-19, and anticipated change on the future outlook of the industry, by taking into the account the political, economic, social, and technological parameters.

A companion animal primarily refers to cats and dogs, which are domesticated and normally maintained in or near the household of the owner or person caring for them. Pet or companion animals do not refer to a farm animal, or grazing animals such as cattle and sheep.

Statistics:

North America companion animal drugs market is estimated to account for US$ 14,065.8 Mn in terms of value by the end of 2027.

North America Companion Animal Drugs Market: Drivers

Increasing adoption of companion animals is expected to propel growth of North America companion animal drugs market over the forecast period. For instance, according to 2017-2018 U.S. Pet Ownership & Demographics Sourcebook of American Veterinary Medical Foundation (AVMF), 38.4% of household in the U.S. owned dogs compared to 36.5% in 2012.

Moreover, increasing geriatric population is also expected to boost is demand for companion animal drugs. For instance, according to the U.S. Census Bureau, the U.S. geriatric population is expected to reach 77 million by 2034.     

Statistics:

U.S. held dominant position in North America companion animal drugs market in 2019, accounting for 83.2% share in terms of value, followed by Canada respectively.

Figure 1: North America Companion Animal Drugs Market Share (%) Value, By Region, 2019

North America Companion Animal Drugs  | Coherent Market Insights

North America Companion Animal Drugs Market: Restraints

High cost of animal healthcare services and lack of pet insurance is expected to hinder growth of North America companion animal drugs market. For instance the companion animal healthcare expenses include annual surgical vet visits costs of US$ 474 for dogs, US$ 245 for cats, and US$ 45 for birds, sick vet visits costs (yearly average) of US$ 204 for dogs, US$ 244 for cats, and US$ 138 for birds, and emergency vet visits costs (yearly average) of US$ 349 for dogs, US$ 154 for cats, US$ 107 for birds, and US$ 471 for horses.

Moreover, lack of awareness of animal diseases is also expected to limit the demand for companion animal drugs. In many developing countries, people lack awareness regarding certain serious companion animal diseases as opposed to livestock diseases, which are more regularly monitored.

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North America Companion Animal Drugs Market Report Coverage

Report Coverage Details
Base Year: 2019 Market Size in 2019: US$ 10,384.2 Mn
Historical Data for: 2016 to 2019 Forecast Period: 2020 to 2027
Forecast Period 2020 to 2027 CAGR: 3.8% 2027 Value Projection: US$ 14,065.8 Mn
Geographies covered:
  • North America: U.S., Canada
Segments covered:
  • By Product Type: Antibiotics, Anti-inflammatory, Parasiticides, Ecto-Parasiticides, Endo-Parasiticides, Heart worm Products, Behavioral Products, Nutritional Products, Skin care Products, Vaccines.
  • By Distribution Channel: Veterinary Hospitals, Veterinary Clinics, Pharmacies and Drug Stores.
Companies covered:

Zoetis Inc., Merck & Co., Inc., Bayer AG, Eli Lily & Co., Sanofi (Merial), Ceva Santé Animal, Virbac Animal Health, and Boehringer Ingelheim GmbH.

Growth Drivers:
  • Increasing adoption of companion animals
  • Approval and launch of new products
Restraints & Challenges:
  • High Cost of animal healthcare services
  • Lack of pet insurance

North America Companion Animal Drugs Market: Opportunities  

High prevalence of salmonella infection is expected to offer lucrative growth opportunities for players in North America companion animal drugs market. For instance, according to May 2019 report of the Centers of Disease Control and Prevention (CDC), salmonella infection (salmonellosis) causes approximately 1.2 million illnesses and 450 deaths annually, in the U.S. and in 2018, there were 18 reported outbreaks, 15 of which were linked to food.

Moreover, availability of online veterinary pharmacies is also expected to aid in growth of the market.

Statistics:

North America companion animal drugs market was valued at US$ 10,384.2 Mn in 2019 and is forecast to reach a value of US$ 14,065.8 Mn by 2027 at a CAGR of 3.8% between 2020 and 2027.

Figure 2: North America Companion Animal Drugs Market Value (US$ Mn), 2016 – 2027

North America Companion Animal Drugs  | Coherent Market Insights

Market Trends/Key Takeaways

Increasing number of exotic animals is expected to propel growth of North America companion animal drugs market. For instance, according to 2017-2018 U.S. Pet Ownership & Demographics Sourcebook of American Veterinary Medical Foundation (AVMF), the number of rabbits per 1,000 households in the U.S increased from 1,408 in 2012 to 1, 534 in 2017-2018.

Major players in North America companion animal drugs market are focused on launching new products to expand their product portfolio. For instance, in 2018, Dechra Veterinary Products, LLC launched new TAF Spray, a next generation antibiotic wound spray used for the treatment of wounds in animals.

North America Companion Animal Drugs Market: Competitive Landscape

Major players operating in North America companion animal drugs market include, Zoetis Inc., Merck & Co., Inc., Bayer AG, Eli Lily & Co., Sanofi (Merial), Ceva Santé Animal, Virbac Animal Health, and Boehringer Ingelheim GmbH.

North America Companion Animal Drugs Market: Key Developments

Major players in North America companion animal drugs market are focused on approval and launch of new products to expand their product portfolio. For instance, in September 2019, Zoetis Inc. received marketing authorization for Simparica Trio (sarolaner/moxidectin/pyrantel) chewable tablets for the treatment of mixed external and internal parasitic infestations in dogs, from the European Commission.

Similarly, in January 2018, Elanco Animal Health, a division of Eli Lilly and Company, received approaval for its product, Credelio (lotilaner), a small chewable tablet for dogs, for protection against ticks and fleas.

Companion animal include dog, cat, fish, bird, horse, rabbit, hamster, guinea pig, and ferret. According to the National Pet Owners Survey in 2017, conducted by American Pet Products Association (APPA), around 68% of the household owns a companion animal or pet in U.S. Companion animal drug include veterinary and over-the-counter drugs, supplements, nutraceuticals, vaccines, antibiotics and parasiticides, which are used in the treatment of disease associated with digestive system, immunological system, reproductive system, respiratory, and urinary system. Increasing expenditure on animal healthcare, increasing pet ownership, increasing incidence and prevalence of zoonotic disease, are major driver attributing to the growth of market during the forecasted period.

Key features of the study:

  • This report provides in-depth analysis of the North America Companion Animal Drugs market  and provides market size (US$ million) and compound annual growth rate (CAGR %) for the forecast period (2020–2027), considering 2019 as the base year
  • It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
  • This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends,  regional outlook, and competitive strategy adopted by key players
  • It profiles key players in the North America Companion Animal Drugs market  based on the following parameters – company overview, financial performance, product portfolio, market presence, distribution strategies, key developments, strategies, and future plans
  • Key companies covered as a part of this study include, Zoetis Inc., Merck & Co., Inc., Bayer AG, Eli Lily & Co., Sanofi (Merial), Ceva Santé Animal, Virbac Animal Health, and Boehringer Ingelheim GmbH.
  • Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, technology up-gradation, market expansion, and marketing tactics
  • The North America Companion Animal Drugs market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
  • Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the North America Companion Animal Drugs market

Detailed Segmentation:

  • North America Companion Animal Drugs Market, By Product Type:
    • Antibiotics
    • Anti-inflammatory
    • Parasiticides
    • Ecto-Parasiticides
    • Endo-Parasiticides
    • Heart worm Products
    • Behavioral Products
    • Nutritional Products
    • Skin care Products
    • Vaccines
  • North America Companion Animal Drugs Market, By Distribution Channel:
    • Veterinary Hospitals
    • Veterinary Clinics
    • Pharmacies and Drug Stores
  • North America Companion Animal Drugs Market, By Region:
    • U.S.
      • By Product Type:
        • Antibiotics
        • Anti-inflammatory
        • Parasiticides
        • Ecto-Parasiticides
        • Endo-Parasiticides
        • Heart worm Products
        • Behavioral Products
        • Nutritional Products
        • Skin care Products
        • Vaccines
      • By Distribution Channel
        • Veterinary Hospitals
        • Veterinary Clinics
        • Pharmacies and Drug Stores
    • Canada
      • By Product Type:
        • Antibiotics
        • Anti-inflammatory
        • Parasiticides
        • Ecto-Parasiticides
        • Endo-Parasiticides
        • Heart worm Products
        • Behavioral Products
        • Nutritional Products
        • Skin care Products
        • Vaccines
      • By Distribution Channel
        • Veterinary Hospitals
        • Veterinary Clinics
        • Pharmacies and Drug Stores
  • Company Profiles
    • Zoetis Inc. *
      • Company Overview
      • Product Portfolio
      • Key Highlights
      • Financial Overview
      • Strategies
    • Merck & Co., Inc.
    • Bayer AG
    • Eli Lily & Co.
    • Sanofi
    • Ceva Santé Animal
    • Virbac Animal Health
    • Boehringer Ingelheim GmbH
  •  “*” marked represents similar segmentation in other categories in the respective section.

Table of Contents

  1. Research Objectives and Assumptions
    • Research Objectives
    • Assumptions
    • Abbreviations
  2. Market Purview
    • Report Description
      • Market Definition and Scope
    • Executive Summary
      • Market Snippet, By Product Type
      • Market Snippet, By Distribution Channel
      • Market Snippet, By Country
      • Coherent Opportunity Map (COM)
  3. Market Dynamics, Regulations, and Trends Analysis
    • Market Dynamics
      • Drivers
      • Restraints
      • Market Opportunities
    • Impact Analysis
    • Key Highlights
    • Product launch
    • PEST Analysis
    • Technological Advancements
    • Regulatory Scenario
    • Mergers and Acquisitions
    • Impact of COVID19 on market
  4. North America Companion Animal Drugs Market, By Product Type, 2019 – 2027, (US$ Mn)
    • Introduction
      • Market Share Analysis, 2020 and 2027 (%)
      • Y-o-Y Growth Analysis, 2017 – 2027
      • Segment Trends
    • Antibiotics
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
    • Anti-inflammatory
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
    • Parasiticides
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
    • Ecto-Parasiticides
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
    • Endo-Parasiticides
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
    • Heart worm Products
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
    • Behavioral Products
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
    • Nutritional Products
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
    • Skin care Products
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
    • Vaccines
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
  5. North America Companion Animal Drugs Market, By Distribution Channel, 2019 – 2027, (US$ Mn)
    • Introduction
      • Market Share Analysis, 2020 and 2027 (%)
      • Y-o-Y Growth Analysis, 2017 – 2027
      • Segment Trends
    • Veterinary Hospitals
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
    • Veterinary Clinics
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
    • Pharmacies and Drug Stores
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
  6. North America Companion Animal Drugs Market, By Region, 2019 – 2027, (US$ Mn)
    • Introduction
      • Market Share Analysis, By Region, 2020 and 2027 (%)
      • Y-o-Y Growth Analysis, For Regions, 2017–2026
    • U.S.
      • Market Size and Forecast, By Product Type, 2016 – 2027, (US$ Mn)
      • Market Size and Forecast, By Distribution Channel, 2016 – 2027, (US$ Mn)
    • Canada
      • Market Size and Forecast, By Product Type, 2016 – 2027, (US$ Mn)
      • Market Size and Forecast, By Distribution Channel, 2016 – 2027, (US$ Mn)
  7. Competitive Landscape
    • Company Profiles
      • Zoetis Inc.
        • Company Overview
        • Product Portfolio
        • Financial Overview
        • Key Highlights
        • Market Strategies
      • Merck & Co., Inc.
        • Company Overview
        • Product Portfolio
        • Financial Overview
        • Key Highlights
        • Market Strategies
      • Bayer AG
        • Company Overview
        • Product Portfolio
        • Financial Overview
        • Key Highlights
        • Market Strategies
      • Eli Lily & Co.
        • Company Overview
        • Product Portfolio
        • Financial Overview
        • Key Highlights
        • Market Strategies
      • Sanofi (Merial)
        • Company Overview
        • Product Portfolio
        • Financial Overview
        • Key Highlights
        • Market Strategies
      • Ceva Santé Animal
        • Company Overview
        • Product Portfolio
        • Financial Overview
        • Key Highlights
        • Market Strategies
      • Virbac Animal Health
        • Company Overview
        • Product Portfolio
        • Financial Overview
        • Key Highlights
        • Market Strategies
      • Boehringer Ingelheim GmbH
        • Company Overview
        • Product Portfolio
        • Financial Overview
        • Key Highlights
        • Market Strategies
  8. Section
    • References
    • Research Methodology
    • About us and Sales Contact

*Browse 24 market data tables and 18 figures on “Companion Animal Drugs Market - Global forecast to 2027”.

Frequently Asked Questions

The North America Companion Animal Drugs market size was valued at US$ 10,384.2 million in 2019 and is estimated to exhibit a CAGR of 3.8% between 2020 and 2027.
Ecto-Parasiticides segment held the major market share in 2019 owing increasing prevalence of parasitic infection among companion animals is expected to propel growth of the North America Companion Animal Drugs market over the forecast period.
Major factor driving the growth of North America Companion Animal Drugs market during the forecast period increasing adoption of companion animals, and new product launch.
Major factors hampering the growth of the North America Companion Animal Drugs market during the forecast period constitutes of high cost of animal healthcare services.
U.S. market is expected to generate the highest revenue during the forecast period.
Some of the key players operating in the market are Zoetis Inc., Merck & Co., Inc., Bayer AG, Eli Lily & Co., Sanofi (Merial), Ceva Santé Animal, Virbac Animal Health, and Boehringer Ingelheim GmbH.
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