Global Pet Medication Market - 2020-2027
|出版日期||內容資訊||英文 180 Pages
|寵物用醫藥品的全球市場:2020年∼2027年 Global Pet Medication Market - 2020-2027|
|出版日期: 2021年05月10日||內容資訊: 英文 180 Pages||
"Pet Medication" is the type of products that help treat and prevent diseases and improve and prolong the lives of farm animals and companion animals. These products include Parasiticides, vaccines, Anti-infective, medical feed additives, and others. The manufacturing and distribution of this drugs and medications are regulated under the United States federal agency for prescribing the veterinary animals. Veterinary prescription drugs are labeled for use only by or on the order of a licensed veterinarian, so it's necessary that these drugs must be properly labeled when dispensed. Also, the label should include all the information under the section on Basic Information for Records, Prescriptions, and Labels for the safety of pet animals. Factors such as rising pet owner's disposable income from innovative and specialized premium product and grooming expenses to medication drugs have augmenting the growth of the market. However, the rising incident of pet allergy, increasing prices of pet medications products and strict government regulations regarding pet ownership may hinder the growth of the market.
The global pet medication market size was worth US$ XX billion in 2019 and further predicted to reach US$ XX billion by 2027, at a CAGR of XX% during the forecast period (2020-2027).
Veterinary diets includes animal foods that are specifically formed to aid in the management of disease and illness of a diagnosed health disorder in an animal. These veterinary diets are put together to treat a variety of problems in pets, such as digestive issues, itchy skin obesity, allergies, etc. Pet food manufacturers are constantly changing their product variants which makes them suitable for the wellness of pets, and thus, driving the growth of the market.
Increasing Trend of Smaller Families Driving Pet Adoption
Rapid urbanization in major developing countries across the globe has led to the increasing preference of couples to have smaller families. The increasing nature of the society, which results in the separation from farm animals and nature, is restoring the desire to bring pets home. Owing to company, social comfort, security, and the aesthetic sense offered by pets, the trend of pet adoption is increasing. Furthermore, high standard of living, high educational standards and , costly healthcare system have led to a decrease in the number of children and an increase in the adoption of pets, such as dogs, cats, and birds. This trend, in turn, is expected to increase the growth of the pet veterinary diet market in the long run.
Increasing Penetration Of Pet Insurance
The increasing penetration of pet insurance is anticipated to drive the animal medicine market. Worldwide, the pet insurance market is largely inactive with extremely less penetration rates providing a large market opportunity. Moreover, increasing penetration of pet insurance will increase the number of visits at veterinary clinics which will result in supporting the use of veterinary pharmaceuticals and feed additives in the treatment of different kind of diseases.
COVID-19 Impact Analysis
COVID-19 pandemic affected each and every country across the globe for instancethe direct impact on production and demand, supply chain disruption, and financial impact. Further, the sudded outbreak of this pandemic has disrupted the manufacturers' supply chain across the globe and shut down the production facilities to minimize the risk of virus spread. Due to which government imposed Social distancing and lockdowns across in most countries which directly or indirectly interrupted the production and supply of goods and raw materials in the pet medication market space. People are scared to go outside to get a checkup for their pets. This factor has led to major decline of the market. Transporation of such drugs is a major problem.
Based on the application, the pet medication market has been classified into dogs, cats, horse and others.
Dog segment dominated the global pet medication market in 2019
In 2019, the dog segment dominated the pet medication market owing to the high preference of dogs in the families.It is anticipated that canine segment will have a constant growth in market owing to highpreference by the families.Moreover, their cost of medication is also less.The rise in the number of dog owners and high spending on dogs care, coupled with high adoption rate of dogs for companionship and for security purpose is expected to further boost the demand for medications for canine care.The canine care medication market is followed by feline care medication market. Pet owners continue to rely on veterinarians for advice about pet medications: dog and cat owners important consideration when buying pet medications is medical advice from a veterinarian.
Based on the product type, the pet medication market has been classified into antibiotics, antimicrobial and antiparasitics.
Antiparastic drugs accounted for the highest market share in the global market
The antiparasitic drugs held the highest share in this segmentas this drugs helps to prevent, repel or kill internal or external parasites such as, intestinal protozoans (Giardia, etc.), intestinal wormsheartworms, fleas and ticks. Theantiparasitic drugs helps to cure various diseases. People prefers antiparastic due to itsproperties to protect the animals such as dogs, cats and others from diseases.
Based on geography, the study analyzes the pet medication market in the global market, including North America, Europe, Asia-Pacific, South America, and the Middle East & Africa.
North America leads the global market throughout the forecast period.
North America dominates the global pet medication market in terms of value and volume as the region is responsible for maximum number of pet food production worldwide, accompanied with the high demand for pet care, which result in driving the growth of the American pet medication market. The major distribution channels through which the US supplies pet diet are the pet superstores, mass retail stores, online sales, grocery chains, niche specialists, drugstores, and agricultural supply stores. Further, various research institute are focusing on pet medication in this region which is another factor for driving the growth of the market.
The pet medication market is highly competitive, owing to the presence of big brands. The key market players are contributing to the growth of the global market include Zoetis, Merck, Merial, Elanco, Bayer, Boehringer, Novartis, Virbac, Ceva, Vetoquinol, Nexvet, Aratana Therapeutics, Kindred Biosciences, Ambrx, Entest Biomedical, Taconic Biosciences
The major players are adopting new product launch and expansion strategies for global growth in the pet medication market.
Overview: Zoetis Inc. is an American drug company which is world's one of the largest producer of medicine and vaccinations for pets and livestock. Furthermore, the company was also a subsidiary of Virbac which is the world's one of the largest drug maker, but it is now a completely independent company. Moreover, the company directly markets the products in more than 40 countries, and also sells the products in more than 100 countries.
Product Portfolio: The company's product portfolio comprises pet food, medicines, farm animals, genetics and others.
The global pet medication market report would provide access to an approx. 60 market data table, 49 figures and 270 pages.
LIST NOT EXHAUSTIVE