Companion animals are pets reared by most of the people across the globe. They become an asset in the terms of providing protection to a person, property or workplace. Companion animal market is increasing due to an increase in number of people having pets, change in the way of providing care to the pets and awareness regarding spread of zoonotic diseases. Moreover, the financial improvement and related increments in disposable income, longer life expectancy for companion animals are some factors that influence the growth of companion animal healthcare market. Global companion animal healthcare market is expected to reach USD 20 billion by 2023 at a CAGR of 9.6% during forecast period 2017 to 2023.
Taste the market data and market information presented through more than 45 market data tables and figures spread over 80 pages of the project report. Avail the in-depth table of content TOC & market synopsis on “Companion animal healthcare market Research Report –Global Forecast to 2023.”
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Companion Animal Healthcare Industry Related News:
April 24, 2018 – Zoetis (US) a leading Global animal health company, while reporting on the progress of one of their initiatives – A.L.P.H.A. (African Livestock Productivity and Health Advancement) stated that despite several adversaries, they are very well keeping up with the plan in the first place. The initiative is funded by a grant of USD 14.4 million from the Bill & Melinda Gates Foundation, to establish sustainable animal health infrastructure and veterinary diagnostic networks in Nigeria, Uganda, and Ethiopia.
April 18, 2018 – CannTrust Holdings Inc. (Canada), one of leading Global licensed producers of medical cannabis, announced the partnership with Grey Wolf Animal Health Inc. (Canada), a private healthcare company, with a developing portfolio of mature and innovative companion animal products to develop ground-breaking cannabis products to support the well-being of pets.
Key Players for Global Companion Animal Healthcare Market
The Global Companion Animal Healthcare Market is led by some of the fervent key players including Merial (France), Zoetis Animal Healthcare (US), Elanco Animal health (US), Bayer Animal Health (Germany), Merck and Co., Inc. (US), Ceva Animal Healthcare (UK), Vetoquinol S.A. (France), Virbac Animal Healthcare (France), Perrigo Company plc. (Ireland), and Boehringer Ingelheim (Germany). Profiling them in its analysis, MRFR finds out their strategies keeping them at the forefront of the competition.
Zoetis Animal Healthcare is a global animal healthcare company providing wide range of products for animal care. It provides specific products for dogs, cats and horses. Apoquel, Cerenia, Convenia, Cytopoint, Palladia, Rimadyl are the products for dogs.
Companion Animal Healthcare Market – Competitive Landscape
The Global Companion Animal Healthcare Market appears to be fiercely ompetitive and fragmented with many well-established players having the Global presence. Brand reinforcement, mergers & acquisitions, and innovation remain the popular trends for the key players in the market. The market structure is changing due to the acquisition of local manufactures by multinational companies. The acquisition strategy increases the profit of the company, reducing the competition significantly.
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Companion Animal Healthcare Market – Segmentation
Global Companion animal healthcare market has been segmented on the basis product which includes feed additives, pharmaceuticals and vaccines. Feed additives can be divided into categories namely nutritional feed additives and medicinal feed additives. Nutritional feed additives include proteins, minerals and vitamins and medicinal feed additives include hormones, enzymes, immune-modulators, probiotics and prebiotics and others. Pharmaceutical products mainly comprise of anti-infectives, antibiotics and anti-inflammatories. The market is also segmented on the basis of diagnostic tests which include diagnostic imaging, immunodiagnostic tests, molecular diagnostics and other tests. End users are veterinary hospitals, veterinary clinics and home care.
Companion Animal Healthcare Market – Regional analysis
Globally, America accounts for the largest market share. America consists of two regions namely North America and South America. Rising awareness about animal health, availability of wide range of products for animal health, increase in focus on food safety and increase in number of people having pets drive this market. Alarming occurrences of zoonotic diseases also affect the growth of this market. Collaborations, mergers and acquisition strategies applied by major market players drive this market in North America. After Americas, Europe is the second largest market for companion animal healthcare. While Asia Pacific a positive growth in this market. Increased awareness regarding animal cruelty and ideologies towards animals are some of the major factor driving the growth of this market in Asia Pacific.
The market shows a slow growth in Middle East & Africa. Middle East & African market for companion animal healthcare also shows high growth opportunities due financial improvement and related increments in disposable income.
Some Brief Table of Contents of Report
Chapter 1. Report Prologue
Chapter 2. Market Introduction
Chapter 3. Research Methodology
Chapter 4. Market Dynamics
Chapter 5. Market Factor Analysis
Chapter 6. Global Companion animal healthcare market, By Product
Chapter 7. Global Companion animal healthcare market, By Diagnostic Tests
Chapter 8. Global Companion animal healthcare market, By End User
Chapter 9. Global Companion animal healthcare market, By Region
Chapter 10. Company Landscape
Chapter 11. Company Profiles
Chapter 12. MRFR Conclusion
Chapter 13. Appendix
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