Companion Animal Healthcare Market Analysis

Companion Animal Healthcare Market Analysis

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Based on product, the companion animal healthcare market encompasses categories such as, pharmaceuticals, medical devices, and veterinary services. In 2022, veterinary services segment accounted for highest market share of 75.1% in industry. Veterinary services include various healthcare aspects including preventive care, diagnostics, treatments, surgeries, dental care, and emergency services. Apart from healthcare services, it also includes grooming and day-care services. Pharmaceuticals segment is further bifurcated into companion animal drugs, companion animal vaccines, and medicated feed additives. Medical devices segment covers companion animal diagnostic equipment, veterinary anesthesia equipment, veterinary monitoring equipment, veterinary surgical instrument, veterinary consumables and others.
 

Based on animal type, the companion animal healthcare market is segmented as dogs, cats, horses, and other companion animals. The enduring popularity of dogs as pets, coupled with an increasing trend toward humanization of pets, is driving demand for high-quality healthcare services. Rising awareness about the specific health needs of dogs, including preventive care, nutrition, and specialized treatments. In addition, the rapidly increasing number of dogs as a pet, the high prevalence of animal and zoonotic diseases, the increasing adoption of pet insurance for dogs, and the increasing need of diagnostics and adequate treatment options.
 

Based on distribution channel, the companion animal healthcare market is segmented as pharmacies, distributors, and e-commerce. In 2022, the pharmacies segment dominated the companion animal healthcare pharmaceuticals market and is expected to grow at CAGR of 8.2% from 2023 to 2032. Pharmacies are dedicatedly established to dispense medications, including those for animals. A wide range of animal healthcare products, including prescription drugs, over-the-counter medications, vaccines, and supplements are available in pharmacies. As they provide a comprehensive range of medications it makes them a convenient and reliable source for purchasing animal healthcare products.
 

North America accounted for largest companion animal healthcare market share in 2022. North America is one of the regions which has the largest pet populations in the world, with a significant number of households owning pets. Dogs and cats are the most common pets in the region, but there is also a considerable population of birds, fish, small mammals, and reptiles. Elevated pet ownership rates, a strong culture of pet care, and increasing awareness about animal welfare drive demand for comprehensive healthcare services and products.