Companion Animal Health Market To Experience Lucrative Growth Due To Rise In Number Of Government Initiatives Till 2025: Grand View Research, Inc.
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 Center 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 centers 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.
Browse full
research report on Companion Animal Health Market: www.grandviewresearch.com/industry-analysis/companion-animal-health-market
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
Browse more
reports of this category by Grand View Research: www.grandviewresearch.com/industry/pharmaceuticals
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
Companion
Animal Health Product Outlook (Revenue, USD Million, 2014 - 2025)
- Vaccines
- Pharmaceuticals
- OTC
- Prescription
- Feed
Additives
- Diagnostics
- Others
Companion
Animal Health Distribution Channel Outlook (Revenue, USD Million, 2014 - 2025)
- 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
Companion
Animal Health Regional Outlook (Revenue, USD Million, 2014 - 2025)
- North
America
- U.S.
- Canada
- Europe
- UK
- Germany
- France
- Asia
Pacific
- Japan
- China
- India
- Latin
America
- Brazil
- Mexico
- Middle
East & Africa
- South
Africa
Access
Press Release By Grand View Research: 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.
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