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Global Companion Animal Healthcare Market

March 12, 2018

Global Companion Animal Healthcare Market, By Product Type (Pharmaceuticals (Anti-Infectives, Antibiotics, and Anti-Inflammatories), Vaccines, and Feed Additives (Nutritional Feed Additives and Medicinal Feed Additives), By Animal Type (Dogs, Equine, Cats, and Others), By Diagnostic Tests (Immunodiagnostic Tests, Diagnostic Imaging, Molecular Diagnostics, and Others), By End Users (Veterinary Clinics, Veterinary Hospitals, and Home Care), By Region (North America, Latin America, Europe, Asia-Pacific, Middle East and Africa) - Global Forecast, 2020-2025.

Report Code :FMR314      
Pages :206 Pages
Format :   PPT Format   PDF Format

The global companion animal healthcare market was valued at US$ xx million in the year 2019. This market is estimated to be valued at US$ xx million in the year 2020, and is expected to reach US$ xx million by the year 2025, with an estimated CAGR of xx% during the forecast period (2020−2025). Animals that are kept for protection of a person, company, property or residence are called companion animals. These animals protect from theft and render safe environment. Animal feeds are the most widely used products for animal healthcare as nutrients are provided through feeds. Pharmaceuticals and vaccines are some of the products, which contribute significantly to the health and wellbeing of these animals. Companion animal expenditure and ownership have also been rising since past few decades as pet owners are focus on maintaining a healthy lifestyle for their pets.

 Table 1 Global Companion Animal Healthcare Market Synopsis

Parameters

Description

Market Value (US$ Mn) for the Period

2018-2025

Base Year

2019

Forecast Period

2020-2025

Market Segmentation (By Product Type)

Pharmaceuticals (Anti-Infectives, Antibiotics, and Anti-Inflammatories), Vaccines, and Feed Additives (Nutritional Feed Additives and Medicinal Feed Additives)

Market Segmentation (By Animal Type)

Dogs, Equine, Cats, and Others

Market Segmentation (By Diagnostic Tests)

Immunodiagnostic Tests, Diagnostic Imaging, Molecular Diagnostics, and Others

Market Segmentation (By End Users)

Veterinary Clinics, Veterinary Hospitals, and Home Care

Regions Covered

North America, Latin America, Europe, Asia-Pacific, Middle East and Africa

Key Players Coverage

Merck & Co Inc., Zoetis Inc., Boehringer Ingelheim GmbH, Sanofi, Aventis Animal Health, Bayer AG, Novartis Animal Health Inc., Elanco, Virbac SA, Ceva Sante Animale, Vetoquinol SA., Perrigo Company plc, among others.

Key Insights

  • Latest Updates
  • Analyst Views
  • Future Outlook of the Market

Market Dynamics

The market for companion animal healthcare is growing at a high pace. Rising disposable income has led to the increase in the number of companion animal adoption among individuals. This, ultimately leads to increase in the demand for companion animal healthcare. As per the American Pet Products Association, the overall household pet ownership has grown to 68%, in 2016 and the number is expected to increase in the coming years. Moreover, medicines and animal health vaccines have experienced some advancement and enhancement which foster the market growth of companion animal healthcare market. Also, key market players provide various pet-care products, consequently driving the market for companion animal healthcare. For instance, Zoetis Animal Healthcare is one of the global animal healthcare company, which provides a wide range of products for animals including dogs, cats, and horses. Drugs like Apoquel, Cerenia, Convenia, Cytopoint, Palladia, Rimadyl, which are used for dogs, are manufactured by Zoetis. However, stringent regulation guidelines can restrain the market growth.

Figure 1. PORTER’S Analysis

Note: The above figure is shown for illustrative purposes only, the actual data may vary and will be incorporated in the report.

North America holds the largest share of companion animal healthcare market due to the presence of various companies offering a wide range of products for animal care, strict government rules and regulations, and growing emphasis on animal health. According to the U.S. Bureau of Labor Statistics, an average spending on pet care in the country increased from US$ 507 in 2014 to US$ 528 in 2015. Pet care expenditure mainly includes food, pet services, medicines, and veterinary services. New launches by key market players is also a leading cause for market growth in this region. For instance, in June 2013, innovative Seresto collar by Bayer were introduced to protect dogs and cats against diseases transmitted by parasites.

Europe holds the second largest position in the companion animal healthcare market due to the rise in pet ownership due to some tax benefits from the government. Asia-Pacific experiences a steady and positive growth in this market, owing to increased awareness regarding animal cruelty and financial improvement in disposable income countries like Middle East & Africa, leading to high growth opportunities for companion animal healthcare market. For instance, in July 2020, Boehringer Ingelheim announced the launch of two new products for parasite treatment: NexGard and Broadline in their animal healthcare portfolio for the Indian market.

Figure 2. Regional Analysis

 

Note: The above figure shown for illustrative purposes only, the actual data may vary and will be incorporated in the report.

Competitive Landscape

Key players in the global companion animal healthcare market include Merck & Co Inc., Zoetis Inc., Boehringer Ingelheim GmbH, Sanofi, Aventis Animal Health, Bayer AG, Novartis Animal Health Inc., Elanco, Virbac SA, Ceva Sante Animale, Vetoquinol SA., Perrigo Company plc, among others.

The companies are focusing on product launch, mergers, and acquisitions to maintain their market position. For instance, in March 2020, Cadila Healthcare announced the transfer of its animal healthcare business to Zydus Animal Health and Investments Ltd (ZAHL) as part of its internal restructuring exercise. Also, in March 2018, Virbac announced the availability of Canileish, a vaccine against canine leishmaniosis in Turkey. With this, the company expanded their product portfolio and increased their clientele.

Figure 3. Market Share of Key Players, 2019

 

Note: The above figure shown for illustrative purposes only, the actual data may vary and will be incorporated in the report.

By Product Type

  • Pharmaceuticals
    • Anti-Infectives
    • Antibiotics
    • Anti-Inflammatories
  • Vaccines
  • Feed Additives
    • Nutritional Feed Additives
    • Medicinal Feed Additives

By Diagnostic Tests

  • Immunodiagnostic Tests
  • Diagnostic Imaging
  • Molecular Diagnostics
  • Others

By Animal Type

  • Dogs
  • Equine
  • Cats
  • Others

By End User

  • Veterinary Clinics
  • Veterinary Hospitals
  • Home Care

By Region

  • North America
  • Europe
  • Asia-Pacific
  • Latin America
  • Middle East and Africa
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Note: This report provides an in-depth analysis of the global companion animal healthcare market and provides market size (US$ Million) and compound annual growth rate (CAGR %) for the forecast period (2020-2025), considering 2019, as the base year.

  • What are the trends adopted by key players in the global companion animal healthcare market?
  • What key factors are expected to increase the demand for companion animal healthcare market during the forecast period 2020-2025?
  • What are the major challenges inhibiting the growth of the global companion animal healthcare market?
  • What is the total market value (US$ Mn) generated in the global companion animal healthcare market by product type in 2019, and what are the forecasts by 2025?
  • Which animal type is expected to foster the companion animal healthcare market growth?
  • Which diagnostic tests is expected to dominate the global companion animal healthcare market in the coming years?
  • Which end user contribute highest CAGR (%) in the companion animal healthcare market?
  • What was the total revenue generated by the global companion animal healthcare market across different regions (North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa) in 2019, along with CAGR (%) for the period (2020-2025)?
  • Who are the key players contributing to the growth of the global companion animal healthcare market, and what are the new strategies adopted by them to retain a market share in the industry?
  • What is the competitive strength of the key players in the global companion animal healthcare market?
  • What are the major outcomes derived from Porter’s five forces?
  • What are the new products which are going to be approved or launched in the upcoming years, which may have a huge impact on the market?
  • What insights are derived through the analysis of key players on the following parameters: company overview, financial performance, product portfolio, geographical presence, key highlights, and strategies?

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