openPR Logo
Press release

Companion Animal Drug Market Estimated to Exhibit a steady CAGR of 4.9% in revenue during 2017-2027

01-29-2019 03:56 AM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Future Market Insights

Companion Animal Drug Market Estimated to Exhibit a steady CAGR

A recent study published by FMI states that the companion animal specialty drug market is likely to envisage a steady CAGR of 4.9% in revenue terms during the forecast period 2017-2027. The companion animal specialty drug market is likely to witness significant growth in all major regional markets due to the increased availability of companion animal specialty drugs and an increase in the presence of local manufacturers. Furthermore, increase in the knowledge regarding various diseases that affect companion animals and growth in the pet population in emerging markets is creating attractive opportunities for the companion animal specialty drug market, which is expected to contribute to a steady CAGR across the forecast period.

The widespread penetration of pet services, such as groomers, training facilities and pet day cares, especially in developed markets, are totally reliant on the sustainable availability of suitable medicines. This ensures that these companion animals are free from diseases that are likely to eventually affect human health. In the U.S., the American Pet Products Association (APPA) has reported that the overall spending on the pet industry in 2016 was reported to be US$66.75 Bn, reflecting a US$6.47 Mn increase (9.6% Y-o-Y) over 2015. This increase in spending is driven by the higher demand for pet care products, which include pet medicines as well as other associated healthcare services. The percentage of people owning pets in different countries is also expected to steady rise in the last five years.

Request to Sample of Report @ https://www.futuremarketinsights.com/reports/sample/rep-gb-1077

The companion animal specialty drugs market in Latin America, Eastern Europe and APEJ regional segments is expected to witness significant growth due to increasing awareness and increasing focus on the adoption of pets inspired by western countries. Urbanization and humanization of pets has increased exponentially in developed markets, wherein the U.S. is the prime country exhibiting this trend in the companion animal specialty drugs market. In the U.S., the highly emotional bond between humans and pets has reached epic levels, with pet insurance having grown at close to 16-17% in the last ten years.

However, only 1-2% of the pets in the U.S. are insured as compared to ~25% in the UK. This has increased the affordability of companion animal specialty drugs. Most pet medications are branded and are manufactured only in developed markets. Earlier, this had restricted the availability of companion animal specialty drugs in developing markets. However, a gradual increase in global trade and the consolidation of larger companies through acquisitions of leading regional players is changing the market dynamics.

The animal health industry is one of the most lucrative revenue-generating as well as innovative industries. The companion animal specialty drug market is said to exhibit higher profitability as compared to farm animal drugs. The route map of the companion animal drug market is innovative too – “Prevent – Treat – End”. One of the leading players in the companion animal specialty drugs market has noted that the performance of the market is dependent upon the ability to innovate, range of offerings and communication with professionals & animal owners, who have a growing influence on purchasing behavior. Most of the top players tend to design their sales plans for high-volume markets with products such as ecto-parasiticides, endo-parasiticides and cat & dog nutrition products.

The U.S. pet industry is undergoing a transition phase with influence from veterinarians. The availability of drugs through private veterinary practices is increasing. Furthermore, the habit of self-medication and Internet pharmacies is fuelling the entry of branded as well as generic drugs into the market. With increased demand, the market is witnessing consolidation between players (among large players, as well as between large &medium-size players).

Need more information about Report Methodology @ https://www.futuremarketinsights.com/askus/rep-gb-1077

The large players account for a majority market share. Consolidation among major drug makers is making the market more competitive, thus increasing the bargaining power of sellers. However, recent patent expirations are putting the bigger players at risk from generic veterinary drugs, which are expected to be available in large quantities in less-developed markets at substantially lower prices.

About Us
Future Market Insights is the premier provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in London, the global financial capital, and has delivery centres in the U.S. and India.

FMI’s research and consulting services help businesses around the globe navigate the challenges in a rapidly evolving marketplace with confidence and clarity. Our customised and syndicated market research reports deliver actionable insights that drive sustainable growth. We continuously track emerging trends and events in a broad range of end industries to ensure our clients prepare for the evolving needs of their consumers.

U.S. Office
616 Corporate Way, Suite 2-9018,
Valley Cottage, NY 10989,
United States
T: +1-347-918-3531
F: +1-845-579-5705
Email: sales@futuremarketinsights.com
Web: https://www.futuremarketinsights.com

This release was published on openPR.

Permanent link to this press release:

Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.

You can edit or delete your press release Companion Animal Drug Market Estimated to Exhibit a steady CAGR of 4.9% in revenue during 2017-2027 here

News-ID: 1539817 • Views:

More Releases from Future Market Insights

Extruded Snacks Market to Reach USD 170.3 Billion by 2035 Amid Health and Convenience Revolution
Extruded Snacks Market to Reach USD 170.3 Billion by 2035 Amid Health and Conven …
A new market analysis released today projects the global extruded snacks market to surge from an estimated USD 89.9 billion in 2025 to USD 170.3 billion by 2035, demonstrating a robust Compound Annual Growth Rate (CAGR) of 6.6%. The market is set to deliver an impressive absolute dollar opportunity of USD 80.4 billion over the forecast period, driven by a global consumer shift towards convenient, shelf-stable, and healthier snack options. The
Global Banana Flakes Market Soars to USD 876.1 million by 2035, Driven by Health & Clean-Label Trends
Global Banana Flakes Market Soars to USD 876.1 million by 2035, Driven by Health …
A new market analysis reveals the global banana flakes market is set to expand significantly, projecting a robust Compound Annual Growth Rate (CAGR) of 4.6% from 2025 to 2035. The market, valued at USD 559.6 million in 2025, is forecast to reach USD 876.1 million by 2035, fueled by a rising consumer preference for natural, gluten-free, and plant-based ingredients in daily food choices. This press release offers a detailed look into
Confectionery Fillings Market Sweetens Global Outlook, Projected to Reach USD 2.2 Billion by 2035
Confectionery Fillings Market Sweetens Global Outlook, Projected to Reach USD 2. …
The global confectionery fillings market is poised for significant growth, with a new market analysis revealing a robust expansion fueled by a surge in consumer demand for innovative flavors and indulgent textures. According to the analysis, the market is estimated at USD 1381.2 million in 2025 and is projected to reach USD 2207.4 million by 2035, exhibiting a healthy compound annual growth rate (CAGR) of 4.8% during the forecast period. The
Water Softener Market to Skyrocket to USD 8.7 Billion by 2035, Driven by Smart Technology and Hard Water Crisis
Water Softener Market to Skyrocket to USD 8.7 Billion by 2035, Driven by Smart T …
A new market analysis reveals the global water softener market is poised for significant expansion, with a forecasted value of USD 8.7 billion by 2035. The report, covering the period from 2025 to 2035, projects a robust Compound Annual Growth Rate (CAGR) of 8.3%, up from an estimated USD 3.9 billion valuation in 2025. This surge is fueled by a combination of factors, including increasing consumer awareness of hard water's

All 5 Releases


More Releases for CAGR

[CAGR of 6.7%] Nanocoatings Market Size, Industry Share, CAGR, Regional Forecast …
The global Nanocoatings Market generated $10.7 billion in 2020, and is projected to reach $20.1 billion by 2030, growing at a CAGR of 6.7% from 2021 to 2030. The report provides an in-depth analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive scenario, and wavering market trends. Download sample PDF @ https://www.alliedmarketresearch.com/request-sample/2064 According to the report published by Allied Market Research,
[CAGR of 5.3%] Pigments Market Size, Industry Share, CAGR, Regional Forecast, 20 …
A recent report by Allied Market Research provides a detailed analysis of the pigments market, highlighting its robust growth. The industry was valued at $27.2 billion in 2022 and is projected to surge to $45.4 billion by 2032, exhibiting an impressive CAGR of 5.3% from 2023 to 2032. This research report identifies the growth drivers behind the market's expansion and delves into the market dynamics using advanced analytical frameworks
[CAGR of 5.5%] Silica Flour Market Size, CAGR, Competitive Analysis and Forecast …
The global silica flour industry generated $520.0 million in 2021, and is estimated to reach $876.3 million by 2031, witnessing a CAGR of 5.5% from 2022 to 2031. Allied Market Research published a report, titled, "Silica Flour Market by Type (Quartz, Cristobalite), by Application (Fiberglass, Glass and Clay, Oil Well Cement, Ceramic and Refractory, Foundry, Others): Global Opportunity Analysis and Industry Forecast, 2021-2031." The report offers a detailed analysis
Enzymes Market Expansion CAGR of 4.9% CAGR Anticipated 2025-2034
The Enzymes Market report is an in-depth examination of the global Enzymes Market's general consumption structure, development trends, sales techniques, and top nations' sales. The research looks at well-known providers in the global Enzymes Market industry, as well as market segmentation, competition, and the macroeconomic climate. A complete Enzymes Market analysis takes into account a number of aspects, including a country's population and business cycles, as well as market-specific microeconomic
Electric Bed Market CAGR, Size, Share Grow USD 2,063 Million by 2030 CAGR 13.70%
Global electric bed market size is expected to be worth roughly USD 2,063 million by 2030, growing at a CAGR of more than 13.7% during the projected timeframe of 2022-2030, according to Ameco Research A significant portion of the population over the age of 60, who often have reduced immunity levels and are more susceptible to neurological disorders, cardiac issues, tumors, and spinal cord compression, is anticipated to have a substantial
Call Center AI Market Latest, CAGR, Volume and Value 2022-2030 | (CAGR) of 25%
New York , United States- Report Ocean published the latest research report on the Call Center AI market. In order to comprehend a market holistically, a variety of factors must be evaluated, including demographics, business cycles, and microeconomic requirements that pertain precisely to the market under study. In addition, the Call Center AI market study demonstrates a detailed examination of the business state, which represents creative ways for company growth,