According to the latest report by Reports and Data, the global Companion Dog Health market size was USD 14.9 Billion in 2022 and is expected to grow at a revenue CAGR of 5.8% over the forecast period. The primary factor driving the growth in the market is the increasing number of pets, particularly in developed countries like the US, where over 67% of households own pets.

This trend is also seen in other countries such as Japan, Germany, and the UK. One of the reasons for this growth is the rising incidence of zoonotic diseases, such as rabies, Lyme disease, and leptospirosis, which are transmitted from animals to humans. Additionally, as cats and dogs are used in research and development, their well-being is crucial for the production of numerous animal-derived products.

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The increasing demand for animal-based products such as meat, milk, and eggs is also driving the growth in revenue of animal health products. The trend of "humanizing" pets has led to a surge in demand for premium veterinarian services and equipment, as pet owners are willing to spend more on their animals' health and welfare. This trend is driving the demand for high-quality Companion Dog Health products and services.

Furthermore, the veterinary industry is expected to experience growth in market revenue due to the increased adoption of telemedicine and online purchasing. The COVID-19 pandemic has accelerated this trend by enabling pet owners to conveniently access veterinary treatments and products from their homes.

Dogs are the most popular pets globally, and as a result, the dog segment generated the highest revenue share in 2022. The American Veterinary Medical Association estimates that there are approximately 77 million companion dogs in the United States, and this number is expected to increase in the coming years. With the growing number of dog adoptions, there is a significant demand for animal health products, including drugs, vaccines, and diagnostic tools.

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In 2022, the retail segment contributed the most to the revenue generated in the market, thanks to the availability of pet shops and grocery stores that offer a wide range of health supplies for companion animals. This segment's sales growth is being fueled by the convenience of having products readily available and the opportunity to examine them before making a purchase. Retail channels sell various Companion Dog Health products such as pet food, vitamins, and over-the-counter medications. The retail category is expected to maintain its dominant revenue share in the market during the forecast period, as people are becoming increasingly aware of the significance of their pets' health and wellbeing.

The North American market generated the highest revenue share in 2022, thanks to the large number of pet owners in the region. Some of the prominent players profiled in the global Companion Dog Health market include Zoetis Inc., Merck & Co., Inc., Boehringer Ingelheim International GmbH, Eli Lilly and Company (Elanco), Bayer AG, Virbac, Vetoquinol SA, Nexvet, and Nestle Purina PetCare. These companies are continuously innovating their products and services to cater to the growing demand for animal health products. For example, Zoetis Inc. recently gained FDA clearance for Simparica Trio, a chewable tablet that protects dogs against fleas, ticks, and heartworm disease, while Merck & Co., Inc. received FDA approval for a new range of animal health products called Bravecto Plus, which is designed to safeguard cats from various parasites like fleas, ticks, and worms.

Based on animal type, product type, distribution channel, and end-use, the global Companion Dog Health market has been segmented to provide a detailed analysis of the market. The report highlights the growth opportunities and challenges faced by the industry and provides insights into the key trends and developments in the market.

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