The North America companion animal drugs market provides pets with effective treatments for various diseases and conditions. Companion animal drugs like antibiotics, parasiticides, and vaccines are widely used for pet care. The market offers medications to cure skin infections, dental diseases, parasites, gastrointestinal problems etc. Drugs are available in the form of pills, tablets, injections, and topical/external preparations as per the health condition and size of pets. The growing humanization of pets and rising disposable incomes have boosted the demand for high-quality prescription and therapeutic drugs in the region.

North America Companion Animal Drugs Market is estimated to be valued at US$ 13.17 Bn in 2024 and is expected to exhibit a CAGR of 4.3% over the forecast period from 2024 to 2031.

Key Takeaways

Key players operating in the North America Companion Animal Drugs are Zoetis Inc., Merck Co., Inc., Bayer AG, Eli Lily Co, Sanofi (Merial), Ceva Santé Animal, Virbac Animal Health, Boehringer Ingelheim GmbH. These leading pharmaceutical companies offer a wide range of drugs that effectively treat various pet diseases and enhance animal health.

The rising pet adoption across North America coupled with growing pet healthcare expenditure has augmented the demand for companion North America Companion Animal Drugs Market Demand According to the American Pet Products Association, about 85 million families own dogs or cats in the US alone. The ever-increasing demand is encouraging drug manufacturers to launch novel medications.

The key players are also focusing on investments, acquisitions, and partnerships for expanding their global footprint and strengthening product offerings. For instance, in 2021, Elanco acquired Kindred Biosciences for further developing its kindvet line of diagnostics and therapeutics. This acquisition helped Elanco expand globally across major veterinary markets.

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