U.S. Companion Animal Health Market Size, Share & Trends Analysis Report By Animal Type (Dogs, Cat, Equine), By Product (Pharmaceuticals, Diagnostics), By Distribution Channel, By End Use- Industry Analysis, Share, Growth, Regional Outlook and Forecasts, 2023-2032

The U.S. companion animal market size was exhibited at USD 5.43 billion in 2022 and is projected to hit around USD 15.29 billion by 2032, growing at a CAGR of 10.9% during the forecast period 2023 to 2032.

U.S. companion animal market size

Key Pointers:

  • The dog segment held the largest revenue share of over 41.19% in 2022 
  • The pharmaceuticals segment held the largest revenue share of over 51.9% in 2022
  • The Hospital pharmacy held the largest revenue share of over 56.9% in 2022
  • The Veterinary hospitals and clinics dominated the market with a revenue share of over 81.6% in 2022.

Report Scope of the U.S. companion animal Market

Report Coverage

Details

Market Size in 2023

USD 6.03 Billion

Market Size by 2032

USD 15.29 Billion

Growth Rate from 2023 to 2032

CAGR of 10.9%

Base Year

2022

Forecast Period

2023 to 2032

Segments Covered

Product, Animal type, Distribution channel, End use

 

The market is primarily driven by the growing adoption of companion animals in the country, coupled with the increasing awareness among pet owners regarding animal diagnostics.

Dogs are the most commonly owned companion animals, followed by cats. According to the U.S. Census Bureau’s American Housing Survey, in 2020, around 69% of households have at least one pet. Growing pet ownership has upped concerns regarding their health, thereby driving the market. The advent of artificial intelligence (AI) has enabled early and accurate diagnosis, thus providing promising growth opportunities in the coming years.

The rising number of pet owners seeking better healthcare services, healthier quality foods, and high-end grooming and training services for their companion animals is a major driver for this market. According to theNational Pet Owners Survey, 90.5 million families in the U.S. own a pet,  out of which 69.0 million own a dog. Moreover, high-income families amounted to approximately 60% of the total spending. In recent years, pet adoption has shown immense growth. This is primarily attributed to the fact that people are healthier and happier in the presence of pets, as found by the Human-Animal Bond Research Initiative Foundation (HABRI).

With the rising adoption of companion animals and growing concerns over their health, there comes a direct association with pet insurance. Presently, pet insurance accounts for a small segment in the insurance industry. The Covid-19 pandemic positively impacted the market growth in the U.S. Key players such as Boehringer Ingelheim Animal Health, Chewy, Elanco, MWI Animal Health, Covetrus, and PetIQ focused on expanding their telemedicine solutions into the market as governments relaxed governance to enable more flexible veterinary examinations during the coronavirus pandemic.

Approval of novel therapeutics and companion animal vaccines continues to present this market with lucrative growth opportunities. Ongoing trends for the adoption of e-commerce, pet insurance, veterinary telemedicine, point of care diagnostic testing, and digitalization of veterinary practices are further accelerated by the crisis of COVID-19.

Groundbreaking technological advances are rapidly transforming the pet health industry. These expansions are maximizing the potential for growth. Companies are taking strategic initiatives in pet health, such as the adoption of big data, wearable technologies to monitor pet health, and the inclusion of stem cell therapy. Moreover, established players are focusing on expanding their portfolios. For instance, Elanco acquired Bayer AG’s animal health business unit in August 2019.

The U.S. captured a substantial share of the market. The share attained by this country is primarily a consequence of the presence of prominent market players undertaking extensive expansion strategies. Moreover, the increasing number of R&D investments initiated by the companies is one of the key potential growth factors presumed to be responsible for the sizeable share garnered by the U.S.

Some of the prominent players in the U.S. companion animal Market include:

  • Zoetis
  • Boehringer Ingelheim GmbH
  • Elanco
  • Ceva Santé Animale
  • Merck Animal Health
  • Vetiquinol S.A.
  • Virbac, Inc.
  • Norbrook Inc.
  • Dechra Pharmaceuticals
  • Patterson Companies, Inc.
  • Vedco Inc.
  • Covetrus
  • MWI Animal Health
  • Nutramax Laboratories Veterinary Sciences, Inc.
  • Ellevet Sciences

Segments Covered in the Report

This report forecasts the volume and revenue growth at the country level and provides an analysis of the latest industry trends in each of the sub-segments from 2018 to 2032. For this study, Nova one advisor has segmented the U.S. companion animal market.

By Animal Type 

  • Dog
  • Cat
  • Equine
  • Others

By Product 

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

By Distribution Channel 

  • Retail
  • E-commerce
  • Hospital Pharmacy

By End-use 

  • Point-of-care testing/In-house testing
  • Veterinary Hospitals & Clinics
  • Others

Frequently Asked Questions

The U.S. companion animal market size was exhibited at USD 5.43 billion in 2022 and is projected to hit around USD 15.29 billion by 2032

The U.S. companion animal market is growing at a compound annual growth rate (CAGR) of 10.9% from 2023 to 2032.

Dogs dominated the U.S. companion animal health market with a share of 41.19% in 2022. This is attributable to the rising adoption of the same.

Key factors that are driving the U.S. companion animal health market growth include the growing adoption of companion animals in the country, coupled with increasing awareness among pet owners regarding animal diagnostics.

Chapter 1 Research Methodology & Scope

                  1.1 Market Segmentation & Scope

                      1.1.1 Animal Type

                      1.1.2 Product

                      1.1.3 Distribution Channel

                      1.1.4 End Use

                      1.1.5 Etimates & Forecast Timeline

                  1.2 Research Methodology

                  1.3 Information Procurement

                      1.3.1 Purchased database:

                      1.3.2 Nova one advisor’s Internal Database

                      1.3.3 Secondary sources

                      1.3.4 Primary Research:

                      1.3.5 Details of Primary Research

                  1.4 Information or Data Analysis

                      1.4.1 Data Analysis Models

                  1.5 Market Formulation & Validation

                  1.6 Model Details

                      1.6.1 Commodity Flow Analysis (Model 1)

                          1.6.1.1 Approach 1: Commodity Flow Approach

                  1.7 List of Secondary Sources

                  1.8 List of Primary Sources

                  1.9 Abbreviations

                  1.10 Objectives

                      1.10.1 Objective 1

                      1.10.2 Objective 2

Chapter 2 Executive Summary

                  2.1 Market Outlook

                      2.1.1 U.S. Companion Animal Health Market Outlook, 2020-2032 

                  2.2 Segment Outlook

                  2.3 Competitive Outlook

Chapter 3 U.S. Companion Animal Health Market Variables, Trends & Scope

                  3.1 Market Lineage Outlook

                      3.1.1 Parent market analysis

                          3.1.1.1 Global Companion Animal Health Market Outlook, 2020-2032 

                  3.2 Penetration & Growth Prospect Mapping

                  3.3 Product Pipeline Analysis

                  3.4 Industry Value Chain Analysis

                      3.4.1 Cost Structure Analysis

                          3.4.1.1 Investments in the U.S. Companion Animal Health

                      3.4.2 Distribution channel analysis

                      3.4.3 User perspective analysis

                          3.4.3.1 Consumer Behavior Analysis

                          3.4.3.2 Pet Animal Owner Profiles

                          3.4.3.3 Market Influencer Analysis

                  3.5 Technology Overview

                      3.5.1 Technology Timeline Veterinary orthopedics changing technology & adoption

                  3.6 Regulatory Framework

                      3.6.1 Reimbursement framework

                      3.6.2 Standards & Compliances in the U.S.

                  3.7 U.S. Companion Animal Health Market dynamics

                      3.7.1 Market driver analysis

                          3.7.1.1 Rising number of companion ownership

                          3.7.1.2 Increase in number of government initiatives

                          3.7.1.3 Increasing prevalence of zoonotic diseases

                      3.7.2 Market restraint analysis

                          3.7.2.1 Increase in advent of counterfit Drugs

                      3.7.3 Industry Challenges

                          3.7.3.1 Short product exclusivity

                  3.8 U.S. Companion Animal Health Market Analysis Tools

                      3.8.1 Industry Analysis: Poter’s

                          3.8.1.1 Supplier Power

                          3.8.1.2 Buyer Power

                          3.8.1.3 Threat Of Substitutes

                          3.8.1.4 Threat Of New Entrants

                          3.8.1.5 Competitive Rivalry

                      3.8.2 SWOT analysis, by factor (political & legal, economic and technological)

                          3.8.2.1 Political Landscape

                          3.8.2.2 Economic Landscape

                          3.8.2.3 Social Landscape

                          3.8.2.4 Technology Landscape

                          3.8.2.5 Legal Landscape

                      3.8.3 Major Deals & Strategic Alliances Analysis

                          3.8.3.1 Joint Ventures

                          3.8.3.2 Mergers & Acquisitions

                          3.8.3.3 Licensing & Partnership

                          3.8.3.4 Technology Collaborations

                      3.8.4 Market Entry Strategies

                  3.9 U.S. Companion Animal Health Market: Covid-19 Impact Analysis

Chapter 4 U.S. Companion Animal Health Market: Competitive Analysis

                  4.1 Recent Developments & Impact Analysis, By Key Market Participants

                      4.1.1 Market Participation Categorization

                          4.1.1.1 Market Leader

                          4.1.1.2 Innovators

                  4.2 Vendor Landscape

                      4.2.1 List of key distributors and channel partners

                      4.2.2 Key Customers

                  4.3 Opportunity Analysis

                      4.3.1 U.S. Companion Animal Health: Company Market Share Analysis

                      4.3.2 Public Companies

                          4.3.2.1 Competitive dashboard analysis

                          4.3.2.2 Company market position analysis

                      4.3.3 Private Companies

                          4.3.3.1 List of key emerging companies

Chapter 5 U.S. Companion Animal Health Market: Animal Type Estimates & Trend Analysis

                  5.1 Animal Type Market Share Analysis, 2023 & 2032

                  5.2 Animal Type Dashboard

                  5.3 U.S. Companion Animal Health Market, by Animal Type, 2020 to 2032

                  5.4 Dogs

                      5.4.1 Dogs market estimates and forecasts, 2020 - 2032 

                  5.5 Equine

                      5.5.1 Equine market estimates and forecasts, 2020 - 2032 

                  5.6 Cats

                      5.6.1 cats market estimates and forecasts, 2020 - 2032 

                  5.7 Sheep & Goats

                      5.7.1 Sheep & Goats market estimates and forecasts, 2020 - 2032 

                  5.8 Companion Poultry

                      5.8.1 Companion Poultry market estimates and forecasts, 2020 - 2032 

Chapter 6 U.S. Companion Animal Health Market: Product Estimates & Trend Analysis

                  6.1 Product Market Share Analysis, 2023 & 2032

                  6.2 Product Dashboard

                  6.3 U.S. Companion Animal Health Market, by Product, 2020 to 2032

                  6.4 Vaccines

                      6.4.1 Vaccines market estimates and forecasts, 2020 - 2032 

                  6.5 Pharmaceuticals

                      6.5.1 Pharmaceuticals market estimates and forecasts, 2020 - 2032 

                      6.5.2 OTC

                          6.5.2.1 OTC drugs market estimates and forecasts, 2020 - 2032 

                      6.5.3 prescription

                          6.5.3.1 prescription drugs market estimates and forecasts, 2020 - 2032 

                  6.6 Feed Additives

                      6.6.1 Feed additives market estimates and forecasts, 2020 - 2032 

                  6.7 Diagnostics

                      6.7.1 Diagnostics market estimates and forecasts, 2020 - 2032 

                  6.8 Others

                      6.8.1 Other U.S. Companion Animal Health Products market estimates and forecasts, 2020 - 2032 

Chapter 7 U.S. Companion Animal Health Market: Distribution Channel Estimates & Trend Analysis

                  7.1 Distribution Channel Market Share Analysis, 2023 & 2032

                  7.2 Distribution Channel Dashboard

                  7.3 U.S. Companion Animal Health Market by Distribution Channel 2020 to 2032

                      7.3.1 Retail

                      7.3.2 retail market estimates and forecasts, 2020 - 2032 

                  7.4 E-commerce

                      7.4.1 e-commerce market estimates and forecasts, 2020 - 2032 

                  7.5 Hospital Pharmacy

                      7.5.1 Hospital pharmacy market estimates and forecasts, 2020 - 2032 

Chapter 8 U.S. Companion Animal Health Market: End-use Estimates & Trend Analysis

                  8.1 End-use Market Share Analysis, 2023 & 2032

                  8.2 End-use Dashboard

                  8.3 U.S. Companion Animal Health Market by End-use, 2020 to 2032

                  8.4 Point-of-care/In-house Testing

                      8.4.1 Point-of-care/In-house Testing market estimates and forecasts, 2020 - 2032 

                  8.5 Veterinary Hospitals & Clinics

                      8.5.1 Veterinary hospitals & clinics market estimates and forecasts, 2020 - 2032 

                  8.6 Others

                      8.6.1 Others market estimates and forecasts, 2020 - 2032 

Chapter 9 Company Profiles

                  9.1 Merck Animal Health

                      9.1.1 Company overview

                      9.1.2 Financial Performance

                      9.1.3 Product Benchmarking

                      9.1.4 Strategic Initiatives

                  9.2 Ceva Santé Animale

                      9.2.1 Company overview

                      9.2.2 Financial performance

                      9.2.3 Product benchmarking

                      9.2.4 Strategic initiatives

                  9.3 Vetiquinol S.A.

                      9.3.1 Company overview

                      9.3.2 Financial performance

                      9.3.3 Product benchmarking

                      9.3.4 Strategic initiatives

                  9.4 Zoetis

                      9.4.1 Company Overview

                      9.4.2 Financial Performance

                      9.4.3 Product Benchmarking

                      9.4.4 Strategic Initiatives

                  9.5 Boehringer Ingelheim GmbH

                      9.5.1 Company Overview

                      9.5.2 Financial Performance

                      9.5.3 Product Benchmarking

                      9.5.4 Strategic Initiatives

                  9.6 Bayer AG

                      9.6.1 Company Overview

                      9.6.2 Financial Performance

                      9.6.3 Product Benchmarking

                      9.6.4 Strategic Initiatives

                  9.7 Elanco

                      9.7.1 Company Overview

                      9.7.2 Financial Performance

                      9.7.3 Product Benchmarking

                      9.7.4 Strategic Initiatives

                  9.8 Virbac, Inc.

                      9.8.1 Company overview

                      9.8.2 Financial Performance

                      9.8.3 Product Benchmarking

                      9.8.4 Strategic Initiatives

                  9.9 Norbrook Inc.

                      9.9.1 Company overview

                      9.9.2 Financial Performance

                      9.9.3 Product Benchmarking

                      9.9.4 Strategic Initiatives

                  9.10 Dechra Pharmaceuticals

                      9.10.1 Company overview

                      9.10.2 Financial Performance

                      9.10.3 Product Benchmarking

                      9.10.4 Strategic Initiatives

                  9.11 Patterson Companies, Inc.

                      9.11.1 Company overview

                      9.11.2 Financial Performance

                      9.11.3 Product Benchmarking

                      9.11.4 Strategic Initiatives

                  9.12 Vedco Inc.

                      9.12.1 Company overview

                      9.12.2 Financial Performance

                      9.12.3 Product Benchmarking

                      9.12.4 Strategic Initiatives

                  9.13 MWI Animal Health

                      9.13.1 Company overview

                      9.13.2 Financial Performance

                      9.13.3 Product Benchmarking

                      9.13.4 Strategic Initiatives

                  9.14 Covetrus

                      9.14.1 Company overview

                      9.14.2 Financial Performance

                      9.14.3 Product Benchmarking

                      9.14.4 Strategic Initiatives

                  9.15 Ellevet Sciences

                      9.15.1 Company overview

                      9.15.2 Financial Performance

                      9.15.3 Product Benchmarking

                      9.15.4 Strategic Initiatives

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