The global companion animal health market size is expected to reach USD 25.54 billion by 2026, according to a new report by Grand View Research, Inc. It is anticipated to expand at a CAGR of 6.1% during the forecast period. Increasing prevalence of zoonotic diseases is among high impact rendering drivers for this market.
Efforts undertaken by various animal welfare organizations at the country and regional levels, are anticipated to positively influence the growth. These organizations work closely with various partners, including national ministries of health, World Organization for Animal Health (OIE), World Bank, Food and Agriculture Organization (FAO), and United Nations System Influenza Coordination (UNSIC). The National Center for Emerging and Zoonotic Infectious Diseases (NCEZID) is engaged in preventing, tracking, detecting, and responding to outbreaks of infectious diseases in U.S. and other countries.

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Growing investments by key players to develop advanced pet care solutions is projected to further propel the companion animal health market. For instance, regulatory departments in Brazil, South Africa, and India are helping various R&D centers by listing specific requirements of their countries. This has urged market players to initiate product development as per requirements of different countries. Key companies are actively focusing on innovation and development in pet care. For instance, Zoetis developed Cytopoint, the first monoclonal antibody for veterinary use, for the treatment of atopic dermatitis in dogs.
Companion Animal Health Market Report Highlights
• Dogs emerged as the largest animal type segment in 2018, owing to health benefits associated with the adoption of pets, increasing awareness, and demand for efficient dog care
• The cats segment is anticipated to witness exponential growth over the forecast period owing to significant rise in the ownership for cats and greater cost-efficiency compared to the adoption of dogs
• Pharmaceuticals captured a substantial market share in 2018. Continuous advancements in drug formulations is projected to boost the uptake of these products in the forthcoming years
• Diagnostics is expected to expand at an exponential CAGR over the forecast period owing to increasing zoonotic infections, which is likely to boost the need for the establishment of diagnostic laboratories and point-of-care testing
• Hospital pharmacies accounted for a substantial share of the distribution channels segment in 2018. High procedural volume, resulting from frequent readmission of pets for treatment, has supported the segment growth
• Veterinary hospitals and clinics accounted for the largest share of the companion animal health market owing to availability of a wide range of treatments diagnostic options.

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Companion Animal Health Market Segmentation
Grand View Research has segmented the global companion animal health market on the basis of animal type, product, distribution channel, end use, and region:
Companion Animal Health Type Outlook (Revenue, USD Million, 2014 - 2026)
• Animal Type
o Dogs
o Equine
o Cats
o Others
• Product
o Vaccines
o Pharmaceuticals
o Feed Additives
o Diagnostics
o Others
Companion Animal Health Product Outlook (Revenue, USD Million, 2014 - 2026)
• Vaccines
• Pharmaceuticals
o OTC
o Prescription
• Feed Additives
• Diagnostics
• Others
Companion Animal Health Distribution Channel Outlook (Revenue, USD Million, 2014 - 2026)
• Retail
• E-commerce
• Hospital Pharmacies
Companion Animal Health End-use Outlook (Revenue, USD Million, 2014 - 2026)
• Point-of-care Testing/In-house Testing
• Veterinary Hospitals & Clinics
• Others
Companion Animal Health Regional Outlook (Revenue, USD Million, 2014 - 2026)
• North America
o U.S.
o Canada
• Europe
o U.K.
o Germany
o France
o Italy
o Russia
o Spain
• Asia Pacific
o Japan
o China
o India
o Thailand
o Australia
o South Korea
o Malaysia
o Singapore
• Latin America
o Brazil
o Mexico
o Argentina
• Middle East & Africa
o South Africa
o Saudi Arabia
o Turkey
o Iran
o United Arab Emirates
o Israel

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About Grand View Research
Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.