Press release
Companion Animal Pharmaceuticals Market - Industry-Specific Opportunities and Trends Affecting the Growth
MarketsandMarkets™ Research Report's View on Revenue Impact?
The Global Companion Animal Pharmaceuticals Market is projected to reach USD 18.5 billion by 2026 from USD 12.8 billion in 2021, at a CAGR of 7.6% during the forecast period.
Factors Responsible for Growth and In-Depth Analysis?
The growth in this market is majorly driven by the growth in companion animal ownership, rising prevalence of zoonotic diseases, rising demand for pet insurance with the growing animal health expenditure, and initiatives by various government agencies and animal associations. On the other hand, the limited number of new antibiotics, rising pet care costs, and rising cost of vaccine storage are expected to restrain the growth of this market during the forecast period.
Growing prevalence of zoonotic diseases;
Some pathogens, known as zoonotic, can be transmitted from animals to humans. Examples of zoonotic diseases include rabies, salmonellosis, plague, brucellosis, and Lyme disease. Animals also share our susceptibility to certain diseases and environmental hazards and can serve as an early warning for potential human infections. Over the past two decades, the incidence of zoonotic diseases has increased globally, primarily as a result of the increased pet population. According to the International Livestock Research Institute (ILRI), 13 zoonoses cause 2.4 billion cases of human diseases and 2.2 million deaths every year.
Toxoplasmosis-which is transmitted via cat feces-is quite common, with 10-20% of the UK population and 22% of the US population expected to carry the parasite as cysts. Cats with chronic bacteremia are mainly infected through the saliva, and there is a high risk of transmittance from young adult cats. Although cats are asymptomatic carriers, weaker individuals can develop generalized infections. Many of the emerging and re-emerging infectious disease threats are vector-borne diseases transferred to animals and humans from arthropods.
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Leading Key Players and Analysis:
The prominent players in the global companion animal pharmaceuticals market are Zoetis Inc. (US) Merck & Co., Inc. (US) Boehringer Ingelheim GmbH (Germany) Elanco Animal Health Incorporated (US), Virbac (France), Ceva Santé Animale (France), Vetoquinol S.A. (France), and Dechra Pharmaceuticals plc (UK).
Geographical Analysis in Detailed?
In 2020, North America accounted for the largest share of the companion animal pharmaceuticals market, followed by Europe, the Asia Pacific, Latin America, and the Middle East & Africa. The large share of North America can be attributed to the well-established base of animal health industries, the high adoption of companion animals, rising incidence of parasitic infections, the large number of hospitals and clinics, growing pool of veterinarians, and growing expenditure on animal health in the region. The growing number of research activities and funding and awareness campaigns in the field of veterinary health management is also expected to drive the growth of this market.
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Industry Segmentation:
The dermatologic diseasessegment is expected to grow at the highest CAGR, in the companion animal pharmaceuticals market by indication, in the forecast period.
Based on the prescription of pharmaceuticals for a number of disorders prevailing in animals, the companion animal pharmaceuticals market is segmented into infectious diseases, dermatologic diseases, orthopedic diseases, pain, behavioral disorders, and other indications. The dermatologic diseases segment is expected to grow at the highest CAGR during the forecast period. The increasing prevalence of arthritis, rising need for advanced orthopedic drugs, and growing pet population are some of the key factors driving the growth of this segment.
The dogs segment holds the largest share in the animal type segment, in the forecast period.
Based on animal type, the companion animal pharmaceuticals market is segmented into dogs, cats, horses, and other companion animals. The dogs segment accounted for the largest market share in 2020. The large share of this segment is attributed to the increasing dog population and rising ownership rate, increasing prevalence of zoonotic diseases and other skin allergies in dogs, rising canine healthcare expenditure, and the increasing number of pet insurers across the globe.
Speak to Analyst: https://www.marketsandmarkets.com/speaktoanalystNew.asp?id=252218886&utm_source=opnepr&utm_medium=referral
Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
sales@marketsandmarkets.com
About MarketsandMarkets™
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies' revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model - GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets's flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.
The Global Companion Animal Pharmaceuticals Market is projected to reach USD 18.5 billion by 2026 from USD 12.8 billion in 2021, at a CAGR of 7.6% during the forecast period.
Factors Responsible for Growth and In-Depth Analysis?
The growth in this market is majorly driven by the growth in companion animal ownership, rising prevalence of zoonotic diseases, rising demand for pet insurance with the growing animal health expenditure, and initiatives by various government agencies and animal associations. On the other hand, the limited number of new antibiotics, rising pet care costs, and rising cost of vaccine storage are expected to restrain the growth of this market during the forecast period.
Growing prevalence of zoonotic diseases;
Some pathogens, known as zoonotic, can be transmitted from animals to humans. Examples of zoonotic diseases include rabies, salmonellosis, plague, brucellosis, and Lyme disease. Animals also share our susceptibility to certain diseases and environmental hazards and can serve as an early warning for potential human infections. Over the past two decades, the incidence of zoonotic diseases has increased globally, primarily as a result of the increased pet population. According to the International Livestock Research Institute (ILRI), 13 zoonoses cause 2.4 billion cases of human diseases and 2.2 million deaths every year.
Toxoplasmosis-which is transmitted via cat feces-is quite common, with 10-20% of the UK population and 22% of the US population expected to carry the parasite as cysts. Cats with chronic bacteremia are mainly infected through the saliva, and there is a high risk of transmittance from young adult cats. Although cats are asymptomatic carriers, weaker individuals can develop generalized infections. Many of the emerging and re-emerging infectious disease threats are vector-borne diseases transferred to animals and humans from arthropods.
Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=252218886&utm_source=opnepr&utm_medium=referral
Leading Key Players and Analysis:
The prominent players in the global companion animal pharmaceuticals market are Zoetis Inc. (US) Merck & Co., Inc. (US) Boehringer Ingelheim GmbH (Germany) Elanco Animal Health Incorporated (US), Virbac (France), Ceva Santé Animale (France), Vetoquinol S.A. (France), and Dechra Pharmaceuticals plc (UK).
Geographical Analysis in Detailed?
In 2020, North America accounted for the largest share of the companion animal pharmaceuticals market, followed by Europe, the Asia Pacific, Latin America, and the Middle East & Africa. The large share of North America can be attributed to the well-established base of animal health industries, the high adoption of companion animals, rising incidence of parasitic infections, the large number of hospitals and clinics, growing pool of veterinarians, and growing expenditure on animal health in the region. The growing number of research activities and funding and awareness campaigns in the field of veterinary health management is also expected to drive the growth of this market.
Request Sample Pages: https://www.marketsandmarkets.com/requestsampleNew.asp?id=252218886&utm_source=opnepr&utm_medium=referral
Industry Segmentation:
The dermatologic diseasessegment is expected to grow at the highest CAGR, in the companion animal pharmaceuticals market by indication, in the forecast period.
Based on the prescription of pharmaceuticals for a number of disorders prevailing in animals, the companion animal pharmaceuticals market is segmented into infectious diseases, dermatologic diseases, orthopedic diseases, pain, behavioral disorders, and other indications. The dermatologic diseases segment is expected to grow at the highest CAGR during the forecast period. The increasing prevalence of arthritis, rising need for advanced orthopedic drugs, and growing pet population are some of the key factors driving the growth of this segment.
The dogs segment holds the largest share in the animal type segment, in the forecast period.
Based on animal type, the companion animal pharmaceuticals market is segmented into dogs, cats, horses, and other companion animals. The dogs segment accounted for the largest market share in 2020. The large share of this segment is attributed to the increasing dog population and rising ownership rate, increasing prevalence of zoonotic diseases and other skin allergies in dogs, rising canine healthcare expenditure, and the increasing number of pet insurers across the globe.
Speak to Analyst: https://www.marketsandmarkets.com/speaktoanalystNew.asp?id=252218886&utm_source=opnepr&utm_medium=referral
Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
sales@marketsandmarkets.com
About MarketsandMarkets™
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies' revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model - GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets's flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.
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