A detailed analysis of the Global Companion Animal Health Market 2023 is provided, including global, regional, and country-level market sizes, segmentation market growth, market share, competitive landscape, sales analysis, impact of domestic and global Companion Animal Health Market players, value chain optimization, trade regulations, recent developments, strategic market growth analyses, product launches, expanding the area market, and technological advances.

The global companion Animal Health market was USD 14.9 billion in 2022 and is expected to register a revenue CAGR of 5.8% during the forecast period. Rising pet population, increase prevalence of zoonotic diseases, and rising demand for goods generated from animals are major factors driving market revenue growth.

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Market Overview:

In the pharmaceutical and healthcare sectors, there is rapid change. As cell and gene therapies become increasingly available, patients are finding appropriate treatments for previously incurable diseases. Machine learning and artificial intelligence (AI) technologies are making it possible for more inventive, faster, and cheaper therapy development to take place. By utilizing data-driven projects, manufacturing, the supply chain, and the entire healthcare ecosystem can benefit. It is clear that consumer attitudes and behaviors are shifting, ranging from a greater use of technology and data sharing to a willingness to use tools to make prescriptions and treatment decisions. Pharma and healthcare markets are expected to grow in the next few years as a result of such factors.

Key Players covered in this report are

  • Zoetis Inc.
  • Merck & Co., Inc.
  • Boehringer Ingelheim International GmbH
  • Eli Lilly and Company (Elanco)
  • Bayer AG
  • Virbac
  • Vetoquinol SA
  • Nexvet
  • Nestle Purina PetCare

Based on Product Type market is segmented into:

  • Vaccines
  • Pharmaceuticals
  • OTC
  • Prescription
  • Feed Additives
  • Diagnostics
  • Others

Based on End-use market is segmented into:

  • PoC/In-house Testing
  • Veterinary Hospitals & Clinics
  • Others

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Based on Region market is segmented into:

  • North America
  • Europe
  • Asia-Pacific
  • South America
  • Middle East & Africa

Strategic Development:

  • On 31 July 2018, Zoetis Inc. announced the acquisition of Abaxis, Inc., a company that specializes in diagnostic instruments for veterinary medicine. The acquisition aimed to expand Zoetis' product offerings in the veterinary diagnostics market.
  • On 20 September 2018, Merck & Co., Inc. announced a partnership with JAGGAER, a procurement software company, to enhance supply chain efficiency for veterinary healthcare products. The partnership aimed to provide better access to veterinary medicines and supplies for veterinarians and pet owners.
  • On 31 August 2021, Eli Lilly and Company (Elanco) announced the acquisition of Kindred Biosciences, Inc., a company that develops pet therapeutics. The acquisition aimed to expand Elanco's product portfolio and to provide more treatment options for companion animals.

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