HTF Market Intelligence has released a comprehensive 150+ page research report titled “Pet Medication Market Insights, to 2031”, featuring detailed tables and charts that clearly illustrate evolving trends, market drivers, restraints, and emerging opportunities for key stakeholders.
The report highlights that the growth of the pet medication market has been primarily driven by rising R&D investments from leading and emerging companies.
However, recent economic slowdowns have shifted the market dynamics significantly, creating both challenges and new avenues for growth.
Prominent players profiled in the study include Zoetis Inc. (United States), Elanco Animal Health (United States), Merck Animal Health (United States), Boehringer Ingelheim Animal Health (Germany), Bayer Animal Health (Germany), Ceva Animal Health (France), Vetoquinol (France), Dechra Pharmaceuticals (United Kingdom), Virbac (France), Norbrook Laboratories (United Kingdom), Idexx Laboratories (United States), Heska Corporation (United States), and Merial (now part of Boehringer Ingelheim) (France).
The global pet medication market was valued at approximately USD 26.4 billion in 2024 and is forecasted to grow robustly to about USD 57.0 billion by 2031, registering a compound annual growth rate (CAGR) of around 10.1% from 2024 to 2031.
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