Market Research Future (MRFR)’s latest study has revealed that the global companion animal healthcare market is poised to proliferate rapidly at a CAGR of 9.6% during the forecast period 2017 to 2023. The market is set to grow from USD 14 Bn in 2016 to USD 20 Bn in 2023.
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. The global companion animal healthcare market is increasing due to 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 2018 to 2023.
Get Free PDF sample Copy of Report @ https://www.marketresearchfuture.com/sample_request/1168
The major factors driving the market are increasing companion animal owner demands, increasing companion animal owner awareness, and expectations for companion animal care. Furthermore, companion animal healthcare products, including pharmaceuticals and vaccines, which contribute significantly to the health and wellbeing of these animals. Rise in the income levels of individuals leveraging to the recent trends is leading to the increase in the number of pet (companion animal) adoption which ultimately leads to increase in the demand of companion animal healthcare. New trends of nuclear families and increasing average income among individuals have resulted in increased adoption of pets among middleclass families as well. Increased awareness regarding animal cruelty has also influenced people awareness and ideologies towards animals. Additionally, advances in animal health medicines and vaccines, increased types of medical treatment are fostering the market growth of companion animal healthcare market.
Companion Animal Healthcare Industry Related News:
In April 2018, Lancaster witnessed its first mobile veterinary unit, SS Pantry, for vaccines and spay/neuter clinics.
In August 2018, FDA has approved NexGard (afoxolaner), which prevents the infection that causes Lyme disease in dogs.
Key Players - Companion Animal Healthcare Market
The Global Companion Animal Healthcare Market is led by some of the fervent key players including
Profiling them in its analysis, MRFR finds out their strategies keeping them at the forefront of the competition.
Competitive Analysis - Companion Animal Healthcare Market
Characterized by the presence of several well-established and small players, the global Market of Companion Animal Healthcare appears to be highly competitive and fragmented. International players who are increasingly expanding their footprint in the developing economy, making it difficult for regional vendors to compete with them, especially in terms of features such as product differentiation, product portfolios, quality, and pricing. The Market is witnessing intensified competition which is expected to get more intensified further during the forecast period. The intense competition prevalent in the market dictates the consolidation among marketers.
However, well established players integrate acquisition, collaboration, partnership, expansion, and product launch to gain competitive advantage in this market.
For instance; innovative Seresto collar by Bayer to protect dogs and cats against diseases transmitted by parasites. These key players offer a broad range of products with a range of treatment options, especially for bacterial infections.
Zoetis Animal Healthcare is one of the global animal healthcare company provides wide range of products for animal care. Moreover, company provides specific products for dogs, cats and horses. For instance, Apoquel, Cerenia, Convenia, Cytopoint, Palladia, Rimadyl are the products for dogs.
Global Companion Animal Healthcare Market - Regional Analysis
Globally, America accounts for the largest market share. Rising awareness about companion 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. Europe is the second largest market for companion animal healthcare. 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 companion animal healthcare 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.
Brief Table of Contents of Report
Chapter 1. Report Prologue
Chapter 2. Market Introduction
2.2 Scope Of The Study
2.2.1 Research Objective
Chapter 3. Research Methodology
3.2 Primary Research
3.3 Secondary Research
3.4 Market Size Estimation
Chapter 4. Market Dynamics
4.5 Macroeconomic Indicators
4.6 Technology Trends & Assessment
Chapter 5. Market Factor Analysis
5.1 Porters Five Forces Analysis
5.1.1 Bargaining Power Of Suppliers
Browse Complete Report @ https://www.marketresearchfuture.com/reports/companion-animal-Healthcare-market-1168
About Market Research Future:
At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Statistical Report, Continuous-Feed Research (CFR), and Market Research & Consulting Services.
Market Research Future
Hadapsar, Pune 411028
Phone: +1 646 845 9312
Information contained on this page is provided by an independent third-party content provider. Frankly and this Site make no warranties or representations in connection therewith. If you are affiliated with this page and would like it removed please contact firstname.lastname@example.org