Companion Animal Healthcare Market - By Product, By Animal, By Distribution Channel - Global Forecast, 2025 - 2034

Companion Animal Healthcare Market Size

The global companion animal healthcare market size was valued at USD 124.8 billion in 2024. The market is expected to grow from USD 133.5 billion in 2025 to USD 249.4 billion in 2034 at a CAGR of 7.2%. Pet owners are increasingly seeking comprehensive healthcare solutions for their pets, supported by rising pet adoption rates and greater awareness of pet health needs. The growing prioritization for pets well-being through regular vaccinations, parasite prevention, and wellness check-ups is spurring the spendings on animal health, thereby expanding the market demand.

The increasing prevalence of chronic disease conditions in pets, such as diabetes, arthritis, and cancer, have created a need for specialized, long-term medical care. For instance, according to Patterson Veterinary, it was estimated approximately 1 in every 300 dogs and 1 in 230 cats are likely to develop diabetes in their lifetime. These numbers demonstrate the growing need for early diagnosis and management solutions that can effectively cater to this chronic condition.
 

The market expansion is also influenced by higher disposable income levels and increased pet insurance adoption. The emergence of pet wellness products and digital health platforms offering veterinary telemedicine services and health monitoring capabilities aimed to improve the access to veterinary care. These factors contribute to the continued expansion of the global companion animal healthcare industry.
 

Companion animal healthcare refers to comprehensive medical care solutions addressing the comprehensive needs of dogs, cats, horses and other companion animals. The market comprises a wide range of preventive care based product and services such as  pharmaceuticals, diagnostic devices and veterinary services.
 

Companion Animal Healthcare Market Trends

• The growing technological advancement drives the innovation such as AI-powered diagnostic equipment, monitoring systems, and telemedicine platforms. For example, IDEXX Laboratories have developed AI-based tools that comprehend the diagnostic tools enhancing the test result analysis and treatment planning with greater accuracy.
   
• Also, the real-time monitoring solutions, such as LinkVet collars and PETMEDICS sensors, enable owners to continuously track vital signs and identify potential health concerns early, supporting proactive healthcare management. This advancement has gained popularity in the veterinary industry.
   
• The growing advancement in biologics including monoclonal antibodies, and cell therapies, is revolutionizing the treatment options for managing long-term chronic conditions in pet such as diabetes, osteoarthritis and cancer. For instance, according to American Veterinary Medical Association (AVMA), diabetes mellitus is one of the common chronic diseases affecting both cats and dogs globally.
   
• Similarly, a study published in the National Center for Biotechnology Information (NCBI) describes eastern equine encephalitis (EEE) as one of the most severe arboviral encephalitis diseases occurring in horses. The study also noted that, annually about 6 to 8 cases of EEE are diagnosed over a five-month that is between May to October period in U.S. This growing chronic condition cases expects to reinforce the need for early diagnosis and treatment, thereby bolstering market growth.
   
• Further, the pet insurance market is experiencing significant changes due to the changes in pet owner behavior, rising cost of veterinary care, increased awareness about pet’s health, and the increased animal healthcare expenditure. The insurance reduces the burden of expensive veterinary diagnostic and treatment costs. The pet insurance policies cover accidents, injuries, and illnesses.
   
• Some insurance covers the costs associated with the diagnosis and treatment of acute and chronic diseases. The changing demographics of pet owners, particularly Millennials and Gen Z, are reshaping industry.
   

Companion Animal Healthcare Market Analysis

In 2021, the global market was valued at USD 99.9 billion. The following year, it saw a slight increase to USD 108.2 billion, and in 2023, the market further climbed to USD 116.4 billion.
 

Based on product, the global market is segmented into pharmaceuticals, medical devices, and veterinary services. The veterinary services segment dominated the market and was valued at USD 89 billion in 2024 and is poised to reach USD 179.8 billion by 2034.
 

• The veterinary services are further categorized into grooming services, boarding and daycare, training services, pet insurance, medical services, and other veterinary services.
   
• The popularity of veterinary services was primarily driven due to the increasing pet ownership rate, high spending on pet care combined with the rising prevalence of chronic diseases that prompt the demand for preventive measures.
   
• For instance, the American Pet Products Association (APPA) estimates that the pet spending was USD 147 billion in 2023 in U.S. This substantial investment in pet care, veterinary services, and drugs reflected pet owners increased consideration of companion animal health issues, better access to advanced medical treatments, and shifting approaches towards pet health.
   
• Also, the growing pet humanization and growing awareness for pet healthcare including early diagnosis and treatment surge the demand.
   
• Furthermore, the growing adoption of digital platforms such as online bookings and remote consultations enabled access to advanced veterinary services. These factors contribute to the ongoing expansion of veterinary services in the global market.
   

Based on animal, the global companion animal healthcare market is categorized into dogs, cats, horses, and other animals. The dogs segment accounted for the highest market share of 53.5% in 2024 and is poised to grow at a substantial rate during the analysis period.
 

• The prominence of dog segment is driven by the widespread popularity of dogs as companions, leading to high healthcare spendings for preventive care.
   
• The increasing focus on pet owners towards their dog’s welfare has resulted in substantial investments across various pet products and veterinary services.
   
• Rising awareness about the specific health needs of dogs, including preventive care, nutrition, and specialized treatments, is spurring growth.
   
• In addition, the comprehensive range of required services for dogs, such as timely health check-ups, boarding and daycare and training, including breed-specific grooming and wellness programs has strengthened this market position.
   
• The expansion of commercial pet care facilities and online platforms has enhanced service accessibility, further solidifying the segment position in the market.
   

Based on the distribution channel, the global companion animal healthcare market is categorized by veterinary hospital pharmacy, retail pharmacy, and e-commerce. The distribution channel aligns with the pharmaceutical segment’s market size, as it is well-suited to effectively serve its needs. In 2024, the veterinary hospital pharmacy segment accounted for the largest share and is poised to grow at a significant growth with a CAGR of 6.6%.
 

• Veterinary hospital pharmacies serve a vital role in delivering specialized and immediate care. These pharmacies, located within or adjacent to veterinary hospitals and clinics, enable direct dispensing of prescribed and OTC pet medications, vaccines, and therapeutic products immediately after diagnosis.
   
• Their integration with veterinary services improves treatment compliance, accelerating therapy initiation, and provides personalized medication guidance.
   
• Moreover, hospital pharmacies are staffed with professionals trained in veterinary pharmacology, which enhances the accuracy and safety of treatments. The growing complexity of pet health issues and the demand for advanced, prescription-only drugs further strengthen the dominance of this segment.
   

In 2024, North America companion animal healthcare market accounted for the largest revenue of USD 54.4 billion and is projected to generate revenue of USD 91.8 billion by 2034, at a CAGR of 5.4% during the analysis period.
 

• North America prominence is driven due to its well-developed animal healthcare infrastructure, pet care facilities and growing trend of pet humanization.
   
• The widespread adoption of pet insurance in the region has also enhanced the accessibility of veterinary care coupled with the extensive networks of veterinary clinics, rapid adoption of AI, and availability of cutting-edge therapeutics.
   
• Also, several prominent players in the pharmaceutical industry, as well as smaller start-up companies focused on animal healthcare, are based in this region. They develop and manufacture a wide range of animal health products, such vaccines, medications, and therapeutic treatments, supplying of innovative and high-quality products.
   

In 2024, the U.S. companion animal healthcare market accounted for USD 50.1 billion revenue from USD 47.4 billion in 2023.
 

• The U.S. leadership was attributed to its high pet ownership rate, awareness for companion animal welfare and high spending on animal health.
   
• The presence of skilled veterinarians, advanced veterinary diagnostic equipment and techniques, and a wide range of treatments and veterinary services contribute to the dominance of North America market.
   
• Furthermore, U.S. companion animal health industry is growing rapidly, supported by major veterinary companies expanding their product offerings through innovative strategies. For instance, in October 2024, Walmart expanded it comprehensive pet care centers in Georgia and Arizona. The new locations in Cumming, Alpharetta, Glendale, Chandler, and Mesa will provide veterinary care, prescription delivery, grooming services, and pet supplies.
   
• This expansion signified the expansion of the convenience and accessibility of companion animal healthcare across the country. Thus, the aforementioned factors collectively reinforced U.S. leadership in the North America market.
   

Germany is poised to achieve significant growth in the Europe companion animal healthcare market.
 

• The growing popularity of preventive care, such as vaccinations and parasite control, and the integration of digital technologies such as telemedicine and mobile apps to enhance service accessibility has contributed to market growth.
   
• The Germany owns over 34 million pets experiencing sustained demand for essential services, including grooming, boarding, training, and wellness offerings.
   
• In addition, the growing demand for companion animal healthcare products along with government initiatives for disease prevention is stimulating market growth. For example, the German Federal Ministry of Food and Agriculture (BMEL) is actively promoting animal healthcare through various initiatives that include animal diseases prevention and enhancing health. These supportive measures aimed to create a contributing factor towards animal healthcare industry.
   
• Moreover, a trend toward premiumization leads to increased spending on high-quality pet products and services. As pets continue to be integral parts of European households, the market in Europe is propelled by a combination of cultural values, advanced veterinary practices, and evolving consumer preferences.
   

The Asia Pacific is poised to grow at a significant growth rate in the global companion animal healthcare market over the next few years.
 

• The Asia Pacific market continues to expand due to rising pet adoption, increasing disposable incomes and increasing urbanization.
   
• The market growth continues to expand as pet owners are gaining easier access to pet products and services through digital platforms. For instance, India's pet care industry exemplifies this trend, recording 95% year-over-year growth in 2025. This expansion results from increased consumer spending on pet care products and services and broader online platform availability.
   
• In addition, the growing pioneering strategies of the key companies to broaden their access to wide geographies further strengthen the region’s growth in the industry.
   
• For instance, in February 2025, Supertails, a well-known tech-enabled pet care brand, opened its first physical clinic in India, with an all-Fear Free Certified staff. In two years, this integrated expansion, along with its online consultations and digital pharmacy, aimed to serve one million pets and pet parents.
   
• Furthermore, the regional market benefits from established veterinary practices in Japan and Australia, where advanced healthcare standards and medical innovations set benchmarks for the industry. These developments reinforce Asia Pacific's position as an essential market for companion animal healthcare.
   

China is anticipated to grow significantly within the Asia Pacific companion animal healthcare market.
 

• China’s robust expansion was propelled by increased pet ownership rates, rapid urbanization, and evolving social perspectives towards pet health.
   
• As more Chinese households embrace pets as family members, it is likely to surge the need for advanced pet care, diagnostics, and preventive treatments.
   
• The country is witnessing a boom in pet clinics, specialty hospitals, and veterinary pharmaceutical production, supported by both domestic and international investments.
   
• The expanding access to companion healthcare products and services through digital platforms offering remote consultations, insurance coverage, and online purchasing options has further supported the country’s growth.
   

Brazil companion animal healthcare is projected to witness significant growth in Latin America companion animal healthcare market in coming years.
 

• Brazil has the largest pet population, making it 3rd largest country worldwide. For instance, according to Statista, Brazil counted for nearly 130 million pets in 2023 including dogs and cats. It comprises 32 million pet-owning households. This rise in pet ownership rates continues to intensify the pet owner’s priority to their pet health and grooming needs fueling the demand for healthcare products and services.
   
• The country also benefits from a relatively advanced veterinary infrastructure compared to other Latin American nations. Brazil has a broad network of veterinary clinics, diagnostic laboratories, and universities that support research and development in animal health.
   
• The government also supports several veterinary research and animal disease prevention programs which strengthen the overall sector. The presence of both local and international diagnostic companies has led to the increased availability of modern testing technologies, such as point-of-care diagnostics and molecular testing, further driving the market growth.
   

Saudi Arabia is anticipated to grow in the Middle East and Africa companion animal healthcare market.
 

• The country has a sizable population of companion animals, particularly in urban and suburban areas where pet ownership is more common and veterinary services are more accessible. For example, in South Africa, there were an estimated 21.7 million pets in 2023, according to GlobalPETS.
   
• In addition, growing government initiatives and support focusing on strengthening veterinary services and implementing advanced medical technologies to enhance pet care standards fuels the demand for preventive healthcare measures.
   
• As pet owners increasingly prioritize preventive care, routine diagnostic testing such as blood work, urinalysis, and screening becomes more frequent, thereby directly contributing to the high demand for diagnostic services and products.
   
• Moreover, Saudi Arabia’s focus on R&D, supported by both public and private funding, is fostering innovation in animal pharmaceuticals and diagnostics.
   

Companion Animal Healthcare Market Share

The top 5 players in the global market accounted for more than 35% of the share. The market comprises of global key companies, and specialized service providers leveraging strategic strength to capture the high market share. The key players include Zoetis, Merck, Boehringer Ingelheim, Elanco, and IDEXX Laboratories leading the market through comprehensive range of veterinary products and services. Zoetis offers a broad range of therapeutics and vaccines including Apoquel, and Simpcara Trio. Similarly, Merck Animal Health offers a comprehensive vaccine portfolio, led by Nobivac, along with digital monitoring tools like SenseHub that serve both livestock and companion animal segments.
 

Emerging players in the industry such as PetIQ and Figo Pet Insurance have introduced retail-based veterinary care and modern insurance solutions, changing traditional service delivery models. Moreover, companies are adopting strategies such as partnerships, expanding digital capabilities, and evolving services for companion animals.
 

Companion Animal Healthcare Market Companies

Few of the prominent players operating in the companion animal healthcare industry include:

• B Braun
• Boehringer Ingelheim
• Ceva
• Dechra
• Elanco
• Endovac
• Figo Pet Insurance
• Hartville
• Hester
• HIPRA
• Hollard
• IDEXX Laboratories
• Mars
• Medtronic
• Merck
• Neogen
• PetIQ
• Phibro
• Vetoquinol
• Virbac
• Zoetis
   
• Zoetis holds a prominent position in the global animal healthcare industry with its diverse range of vaccines, diagnostics, and therapeutic solutions. The company's key products include the Vetscan Imagyst diagnostic platform, Apoquel for treating allergic dermatitis in pets, and Simparica Trio for comprehensive parasite protection.
   
• IDEXX Laboratories offers diagnostic tools and solutions to veterinary practices worldwide. The company's Catalyst One Chemistry Analyzer and ProCyte Dx hematology analyzer enable veterinarians to obtain rapid, accurate diagnostic results during patient visits, supporting both routine checkups and emergency treatments.
   
• Boehringer Ingelheim continues to strengthen its presence in animal health through research initiatives in immunology and parasitology. The company offers established products such as NexGard for parasite management and expands its therapeutic portfolio through strategic acquisitions in the companion animal health segment.
   

Companion Animal Healthcare Industry News

• In March 2025, Privo Technologies expanded into a new subsidiary, BeneVet Oncology, focused on companion animal health. BeneVet applies Privo's drug delivery technologies to address unmet needs in veterinary medicine. The company aimed to adapt Privo's medical platforms, initially developed for human applications, to enhance treatment options for pets. This expansion aimed to bring a ground-breaking treatment option catering to the unmet need in companion animals.
   
• In April 2025, Creative Science acquired Astaria Global that specializes in orthobiologic therapies for equine pain management and asthma. This acquisition aimed to enhance innovation and investment in equine health industry expanding the groundbreaking treatment options for horses.
   
• In August 2024, Akston Biosciences and Energesis Pharmaceuticals entered a strategic partnership to enhance their drug development capability by addressing obesity in companion animals. Through this partnership, Akston received an exclusive opportunity to license Energesis biologic BAT recruitment therapy for companion animals. This strategic effort aimed to advance the product offering catering to chronic disease conditions in companion animals.
   

The companion animal healthcare market research report includes in-depth coverage of the industry with estimates and forecast in terms of revenue in USD Million from 2021 - 2034 for the following segments:

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Market, By Product

• Pharmaceuticals
  • Drugs
    • Antiparasitic
    • Anti-inflammatory
    • Anti-infectives
    • Corticosteroids
    • Tranquilizers
    • Cardiovascular drugs
    • Gastrointestinal drugs
  • Vaccines
    • Modified live vaccines (MLV)
    • Killed inactivated vaccines
    • Recombinant vaccines
  • Medicated feed additives
    • Antibiotics
    • Vitamins
    • Amino acids
    • Enzymes
    • Antioxidants
    • Prebiotics and probiotics
    • Minerals
    • Carbohydrates
    • Propanediol
• Medical devices
  • Veterinary diagnostic equipment
  • Veterinary anesthesia equipment
  • Veterinary patient monitoring equipment
  • Veterinary surgical equipment
  • Veterinary consumables
  • Other medical devices
• Veterinary services
  • Grooming services
  • Boarding and daycare
  • Training services
  • Pet insurance
  • Medical services
  • Other veterinary services

Market, By Animal

• Dogs
• Cats
• Horses
• Other animals

Market, By Distribution Channel

• Veterinary hospital pharmacy
• Retail pharmacy
• E-commerce

The above information is provided for the following regions and countries:

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • UK
  • France
  • Spain
  • Italy
  • Netherlands
• Asia Pacific
  • China
  • India
  • Japan
  • Australia
  • South Korea 
• Latin America
  • Brazil
  • Mexico
  • Argentina
• Middle East and Africa
  • South Africa
  • Saudi Arabia
  • UAE