Companion animal health global market
The "Companion Animal Health Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028" report has been added to ResearchAndMarkets.com's offering.
The global companion animal health market size reached US$ 23.4 Billion in 2022. Looking forward, the analyst expects the market to reach US$ 39.0 Billion by 2028, exhibiting a CAGR of 8.89% during 2022-2028.
Companion animal health refers to the regular monitoring of the health of companion animals to detect diseases and other conditions which can put their lives in danger if left untreated.
It includes the development of monoclonal antibody therapies, therapeutic vaccines, anti-neoplastic drugs, genomic tests, and digital technologies. At present, there is a significant rise in the number of pet parents around the world who are aware of the overall health and well-being of companion animals and routinely seek veterinary services.
Companion animal aging has led to a rise in the risk of tumors, obesity, osteoarthritis, cardiovascular diseases (CVDs), diabetes mellitus, and hepatic and renal diseases worldwide. This, in confluence with the growing awareness about the One Health (OH) approach initiative, which recognizes that public health is connected with animal health and the environment, represents one of the key factors creating a positive outlook for the market.
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