The global companion animal health market is
expected to reach USD 20.9 billion by 2025, according to a new report by Grand
View Research, Inc. Increasing prevalence of zoonotic diseases is among high
impact rendering drivers of this market. Various efforts are being undertaken
at the country& regional levels by animal welfare organizations that works
closely with various partners, including national ministries of health, World
Organization for Animal Health (OIE), World Bank, Food and Agriculture
Organization (FAO), and United Nations System Influenza Coordination
(UNSIC).The National Centre for Emerging and Zoonotic Infectious Diseases
(NCEZID) is engaged in preventing, tracking, detecting, and responding to
outbreaks of infectious diseases across the U.S. and other countries.
Growing investments by key market players to develop advanced solutions
for pet care is one of the key contributors to the growth of the companion
animal health market. For instance, regulatory departments in Brazil, South
Africa, and India are helping various R&D centres by listing specific
requirements of their countries. This has urged market players to initiate
product development as per requirements of different countries. Key companies
are actively focusing on innovation and development in pet care. For instance,
Zoetis developed Cytopoint, the first monoclonal antibody for veterinary use
for the treatment of atopic dermatitis in dogs.
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below:
Further Key Findings From the Report Suggest:
- Dogs
accounted for the largest share of the animal type segment owing to health
benefits associated with the adoption of pets, increase in awareness, and
demand for efficient care for dogs
- The
cats segment is anticipated to witness exponential growth owing to
significant rise in the ownership for cats and greater cost-efficiency in
comparison with the adoption of dogs
- Pharmaceuticals
captured a substantial share of the product segment in 2016. Continuous
advancements in drug formulations is responsible for boosting their uptake
- Diagnostics
are expected to grow at an exponential rate owing to increasing zoonotic
infections, which is likely to boost the need for the establishment of
diagnostic laboratories and point-of-care testing
- Hospital
pharmacies accounted for the substantial share of the distribution
channels segment in 2016. High procedural volume, resulting from frequent
readmission of pets for treatment, has supported the growth of this
segment’
- Veterinary hospitals & clinics accounted for the largest share owing to availability of a wide range of treatment as well as diagnostic options
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reports of this category by Grand View Research at:
Grand View Research has segmented the
global companion animal health market on the basis of animal type, product,
distribution channel, and end use:
Companion Animal Health Animal Type Outlook (Revenue, USD Million, 2014
- 2025)
- Dogs
- Equine
- Cats
- Others
- Vaccines
- Pharmaceuticals
- OTC
- Prescription
- Feed Additives
- Diagnostics
- Others
- Retail
- E-commerce
- Hospital Pharmacies
- Companion Animal Health End-use Outlook (Revenue, USD Million, 2014 - 2025)
- Point-of-care Testing/In-house Testing
- Hospitals & Clinics
- Others
- North America
- U.S.
- Canada
- Europe
- UK
- Germany
- France
- Asia Pacific
- Japan
- China
- India
- Latin America
- Brazil
- Mexico
- Middle East & Africa
- South Africa
View press
release of this research report by Grand View Research:
www.grandviewresearch.com/press-release/global-companion-animal-health-market
www.grandviewresearch.com/press-release/global-companion-animal-health-market
About Grand
View Research
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco.
The company provides syndicated research reports, customized research
reports, and consulting services. To help clients make informed business
decisions, we offer market intelligence studies ensuring relevant and
fact-based research across a range of industries, from technology to chemicals,
materials and healthcare.
For more
information: www.grandviewresearch.com
