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Companion Animal Drugs Market

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Companion Animal Drugs Market - Size, Share,
Growth, Outlook, and Opportunity Analysis,
2018-2026
Companion animals are domesticated animals which are kept primarily for person’s companionship
and enjoyment rather than as a livestock, working animal or laboratory animal. Companion animal
include dog, cat, fish, bird, horse, rabbit, hamster, guinea pig, and ferret. According to the National
Pet Owners Survey in 2017, conducted by American Pet Products Association (APPA), around 68%
of the household owns a companion animal or pet in U.S. Companion animal drug include veterinary
and over-the-counter drugs, supplements, nutraceuticals, vaccines, antibiotics and parasiticides,
which are used in the treatment of disease associated with digestive system, immunological system,
reproductive system, respiratory, and urinary system.
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According to the report published by Federal Trade Commission (FTC), in 2015, U.S. spent around
US$ 58 billion in 2014 on their companion animals, which include food, veterinary care, prescription,
and OTC medications, and other pet services and products. Moreover, U.S. companion animal drugs
market is significantly growing in both prescription and non-prescription based medications. Growing
rate of companion animal ownership, progressive rate in pet health insurance, and longer life
expectancy of companion animals due to the advances in animal health medication, expected to drive
the growth of companion animal drugs market in the near future. According to the North American Pet
Health Insurance Association (NAPHIA), in 2015, there is an increase of US$ 774 million in overall
gross written premium (GWP), accounting to 17.2 percent growth in GWP. In 2015, around 1.6 million
pets got secured with health insurance, increasing to 12% from 2014 to 2015.
Growing obesity in pets fuels the growth of the companion animal drugs market
According to the report by Association for Pet Obesity Prevention (APOP), in 2016, there is a
continuous increase in pet obesity, affecting around 54% of dogs and 59% of cats in U.S. Pet
obesity is a major problem in U.S., which increases the pain and suffering and also affects the life
expectancy of companion animal or pet. According to APOP, factors causing pet obesity include
negligence of pet owners and veterinary professionals in providing nutritional diet such as corn,
grains, and raw and organic diet. In 2016, According to the stats by American Pet Products
Association (APPA), around 41.9 million dogs and 50.5 million cats were classified into
overweight or obese category by veterinary healthcare professionals.
Report includes chapters which deeply display the following deliverable about industry :
• Companion Animal Drugs Market Research Objective and Assumption
• Companion Animal Drugs Market Purview - Report Description, Executive Summary, and Coherent
Opportunity Map (COM)
• Companion Animal Drugs Market Dynamics, Regulations, and Trends Analysis - Market Dynamics,
Regulatory Scenario, Industry Trend, Merger and Acquisitions, New system Launch/Approvals, Value
Chain Analysis, Porter’s Analysis, and PEST Analysis
• Global Companion Animal Drugs Market, By Regions
• Companion Animal Drugs Market Competition by Manufacturers including Production, Share,
Revenue, Average Price, Manufacturing Base Distribution, Sales Area and Product Type.
• Companion Animal Drugs Market Manufacturers Profiles/Analysis including Company Basic
Information, Manufacturing Base and Its Competitors.
• Companion Animal Drugs Market Manufacturing Cost Analysis including Key Raw Materials and
Key Suppliers of Raw Materials.
• Industrial Chain, Sourcing Strategy and Downstream Buyers including Upstream Raw Materials
Sourcing and Downstream Buyers
• Marketing Strategy Analysis, Distributors/Traders including Marketing Channel, Market Positioning
and Distributors/Traders List.
• Market Effect Factors Analysis including Technology Progress/Risk, Consumer Needs/Customer
Preference Change and Economic/Political Environmental Change.
• Companion Animal Drugs Market Forecast including Production, Consumption, Import and Export
Forecast by Type, Applications and Region.
• Research Findings and Conclusion
Key Players in the Global Companion Animal Drug Market
Some of the major players operating in the companion animal drugs market include
Merck Animal Health, Elanco, Zoetis, Boehringer Ingelheim GmbH, Virbac, Ceva Sante
Animale, Bayer AG, Dechra Pharmaceuticals PLC, and Vetoquinol SA.
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Companion animal drugs market taxonomy:
By Product Type:
• Antibiotics
• Parasiticides
• Ecto- parasiticides
• Endo- parasiticides
• Anti-inflammatory drugs
• Nutritional drugs
• Behavioral drugs
• Heartworm drugs
• Skincare drugs
• Vaccines
By Animal Type:
•
•
•
•
Feline
Canine
Equine
Others
By Distribution Channel:
• Veterinary hospitals
• Veterinary clinics
• Pharmacy/ drug store
About Coherent Market Insights
Coherent Market Insights is a prominent market research and consulting firm offering action-ready
syndicated research reports, custom market analysis, consulting services, and competitive analysis
through various recommendations related to emerging market trends, technologies, and potential
absolute dollar opportunity.
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Author
Rushikesh
Rushikesh76   documents Email
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Health and Medicine
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