South Korea Companion Animal Health Market Size & Outlook
South Korea companion animal health market, 2018-2030 (US$M)
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South Korea companion animal health market highlights
- The South Korea companion animal health market generated a revenue of USD 287.2 million in 2022 and is expected to reach USD 673.2 million by 2030.
- The South Korea market is expected to grow at a CAGR of 11.2% from 2023 to 2030.
- In terms of segment, dogs was the largest revenue generating animal type in 2022.
- Equine is the most lucrative animal type segment registering the fastest growth during the forecast period.
Companion animal health market data book summary
| Market revenue in 2022 | USD 287.2 million |
| Market revenue in 2030 | USD 673.2 million |
| Growth rate | 11.2% (CAGR from 2022 to 2030) |
| Largest segment | Dogs |
| Fastest growing segment | Equine |
| Historical data | 2018 - 2021 |
| Base year | 2022 |
| Forecast period | 2023 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Dogs, Equine, Cats, Other Animal type |
| Key market players worldwide | Merck & Co Inc, CEVA Inc, Vetoquinol SA, Zoetis, Boehringer Ingelheim, IDEXX Laboratories Inc, Elanco Animal Health Inc, Indian Immunologicals, Virbac SA, Norbrook |
Other key industry trends
- In terms of revenue, South Korea accounted for 1.3% of the global companion animal health market in 2022.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In Asia Pacific, China companion animal health market is projected to lead the regional market in terms of revenue in 2030.
- India is the fastest growing regional market in Asia Pacific and is projected to reach USD 874.7 million by 2030.
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Companion Animal Health Market Scope
Companion Animal Health Market Companies
| Name | Profile | # Employees | HQ | Website |
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South Korea companion animal health market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to companion animal health market will help companies and investors design strategic landscapes.
Dogs was the largest segment with a revenue share of 38.89% in 2022. Horizon Databook has segmented the South Korea companion animal health market based on dogs, equine, cats, other animal type covering the revenue growth of each sub-segment from 2018 to 2030.
South Korea’s companion animal health market is projected to exhibit constant growth rate during the forecast period, due to rapid development of new products, growing research efforts by companies, increasing government initiatives, and rising mergers & acquisitions among players.
For instance, in January 2018, CALS NBT launched Xpel Spectra formulation in Korea for mycotoxin management in animals.
Furthermore, one out of four adults owns a pet in the country and expends an average of around USD 89.95 per month on pet animals.
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Target buyers of South Korea companion animal health market databook
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Our clientele includes a mix of companion animal health market companies, investment firms, advisory firms & academic institutions.
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30% of our revenue is generated working with investment firms and helping them identify viable opportunity areas.
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Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
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The rest of the revenue is generated working with academic and research not-for-profit institutes. We do our bit of pro-bono by working with these institutions at subsidized rates.
Horizon Databook provides a detailed overview of country-level data and insights on the South Korea companion animal health market , including forecasts for subscribers. This country databook contains high-level insights into South Korea companion animal health market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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South Korea companion animal health market size, by animal type, 2018-2030 (US$M)
South Korea Companion Animal Health Market Outlook Share, 2022 & 2030 (US$M)
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