Global Companion Animal Health Market, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2029

“Global Companion Animal Health Market” is an upcoming market research report by MarketResearch.biz. The report includes different future and current scenarios regarding the global market. Data and information provided in the report are verified by experts in the industry. Paid sources are used to ensure the accuracy of all findings and to validate data. In the report, exhaustive primary and secondary research efforts are also invested. In addition, Y-o-Y growth, growth factors, major trends, future forecasts & opportunities, and restraints are also included in the research report. The report also highlights various opportunities needed for potential revenue generation in various untapped markets. Recent developments, company details, effective strategies, mergers, acquisitions, etc. are included in profiles of key players. The global companion animal health market research report is segmented on the basis of animal type, products, distribution channel, end-use, and regions and countries.

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Overview

Companion animal health market includes a number of products and services, intended to maintain the well-being of companion animals. Companion animal health products include feed additives, antimicrobials, vaccines, antibiotics, growth promoters, diagnostics products, and other pharmaceuticals. There are also products which are mainly intended for increasing the productivity of animals.   Companion animal health products are used to cure, prevent, or for minimizing potential of diseases.

Dynamics

Increase in the zoonotic and food-borne diseases is a major factor driving growth of the global market. Increasing prevalence of these diseases are prompting key players to manufacture various vaccines and pharmaceuticals. Increasing demand for various companion animal healthcare products is also resulting in an increasing number of manufacturers focusing on developing drugs and vaccines to prevent zoonotic and food-borne diseases, which is expected to further drive growth of the global companion animal health market over the forecast period. In addition, increasing initiatives by governments to encourage activities that aid in promoting health of companion animals is expected to drive growth of the market over the forecast period. Moreover, technological advancements in veterinary healthcare, such as animal owner mobile technology, vaccine banks, and advent of efficient information management systems are among other factors projected to drive growth of the global market. The major restraint for growth of the market is ignorance of pet owners regarding advancements in companion animal healthcare.  Technical advancements, innovations, and new product launches regarding companion animal health are projected to create growth opportunities for key players in the market over the forecast period.

Global Companion Animal Health Market Segment Analysis:

By Animal Type: The dogs segment continues to account for highest revenue share in the global companion animal health market among other animal type segments. This can be attributed to increasing healthcare spending especially in developing economies. This growth of the segment can also be attributed to increasing penetration of vaccines, feed additives, pharmaceuticals for pets, and diagnostics in the global market.

By Product: The pharmaceuticals segment among the product segments is projected to dominate the global companion animal health market in terms of revenue share over the forecast period. This can be attributed to increasing prevalence of various potentially hazardous diseases to companion animals such as brucellosis, food-borne diseases, and other zoonotic diseases. Moreover, significant increase in instances of insect bites has doubled the risk of microbe transmissions and diseases, which is also expected to increase demand for pharmaceuticals.

Global Companion Animal Health Market Regional Analysis:

North America is expected to dominate the market in terms of revenue share over the forecast period. This can be attributed to presence of key players in the region and their expansion strategies. Increasing R&D investments by companies and growing chronic animal disease burden are among key factors projected to drive growth of the market in the region.

Global Companion Animal Health Market Segmentation: 

By Animal Type:

• By Type
  • Dogs
  • Equine
  • Cats
  • Others
• By Product
  • Vaccines
  • Pharmaceuticals
  • Feed Additives
  • Diagnostics
  • Others

By Product:

• Vaccines
• Pharmaceuticals

• • OTC
  • Prescription

• Feed Additives
• Diagnostics
• Others

 By Distribution Channel:

• Retail
• E-commerce
• Hospital Pharmacies

 By End-use:

• Point-of-care Testing/in-house Testing
• Veterinary Hospitals & Clinics
• Others

 By Region:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa