Press release
South America Companion Animal Healthcare Market to grow at a CAGR of 11.9% by 2026
The South America Companion Animal Health market is estimated to grow at a CAGR of 11. 9% in the forecasted period to reach a market value of USD 3,260.4 million by 2026 from an initial market value of USD 1,368.8 million in 2017.
South America Companion Animal Healthcare Market Drivers
The increasing number of companion animal ownership is boosting the market growth for the companion animal healthcare market. Developing economies and rising disposable income is one of the prime cause for increased pet ownership within the South American region.
Growing companion animal care expectations and demand also plays a vital role in the development and growth of companion animal healthcare market. Rising prevalence of parasitic & infectious diseases in animals is even driving the growth of the market.
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South America Companion Animal Healthcare Market Restraints
Changes in the distribution channel are hampering the market growth. Companion animal owners have changed their purchase pattern and shifted the focus towards internet-based retailers, retail stores, or other over-the-counter distribution channels.
This shift is leading the companion health owners to opt for substitute human health products for animal health products if human health products are deemed to be lower-cost alternatives.
South America Companion Animal Healthcare Market Regional Analysis
The South America Companion Animal Health market is growing due to increasing sales in pet medical feed with & healthcare products with rising pet ownership and favourable government regulations.
Pet ownership is highest in South America, with 80% of the online population in both Argentina and Mexico owning a pet, together with three quarters (75percent) in Brazil. Dogs are the most popular pet in Argentina, Mexico, and Brazil. The market is mainly dominated by Brazil which accounted for 56% of the market.
Pet specialists such as pet shops and pet superstores are the leading channels to distribute pet care products in Brazil. Pet healthcare in Brazil is set to grow at a 12% CAGR at constant 2018 prices over the forecast period, driven by rising awareness of pet healthcare needs and Premiumisation.
South America Companion Animal Healthcare Market Company Trends
The market in the South American region is a relatively consolidated market with top 4 companies occupying more than 40% market share in 2017.
Fluctuation Brazil currency over USD and interests rate is challenging the growth of the foreign companies which majorly import products from the United States.
South America Companion Animal Healthcare Market Segmentation
The Companion Healthcare Market is segmented by Products into Vaccines, Anti-Infectives, Medicinal Feed Additives, Parasiticides, Diagnostic and Others.
Demand for parasiticides is also on the rise because of an increase in flea and tick-infested Lyme disease in dogs and cats. The market is driven by the need for these products in tackling increasing cases of healthcare problems in companion animals and awareness of owners towards the availability of these products in commercial markets.
The emergence of new players in the market through strategic partnerships and meaningful collaborations between companies and laboratories ensure healthy market competition between companies.
To know more about Global South America Animal Healthcare Market - https://www.datamintelligence.com/research-report/south-america-companion-animal-healthcare-market
This report consists of the following table of contents-
1. South America Companion Animal Healthcare Market – Methodology and Scope
1.1 Research Methodology
1.2 Scope of the Report
2. South America Companion Animal Healthcare Market – Industry Trends
3. South America Companion Animal Healthcare Market – Outlook
3.1 Market Drivers
3.1.1 Increasing number of companion animal ownership
3.1.2 Rising prevalence of parasitic & infectious diseases
3.2 Market Restraints
3.2.1 Changes in distribution channel might hamper the market growth
3.3 Porters Five Forces
4. South America Companion Animal Healthcare Market Segmentation Analysis
4.1 Segmentation by Products
4.1.1 Vaccines
4.1.2 Anti-Infectives
4.1.3 Medicinal Feed Additives
4.1.4 Paraciticides
4.1.5 Diagnostics
4.1.6 Others
4.2 By Animals
4.2.1 Cats
4.2.2 Dogs
4.2.3 Equine
4.2.4 Others
5. South America Companion Animal Healthcare Market - Regional, Country-level Analysis
5.1 Brazil
5.2 Argentina
5.3 Peru
5.4 Rest of South America
6. South America Companion Animal Healthcare Market - Competitive Analysis
6.1 Market Share Analysis
6.2 Key Strategies Adopted by Major Players
6.3 Product Benchmarking
7. South America Companion Animal Healthcare Market - Company Profiles
7.1 Merck Animal Health
7.2 Ceva Santé Animale
7.3 Vetoquinol SA
7.4 Nutreco N.V
7.5 Bayer healthcare
7.6 Elanco
7.7 Virbac
7.8 Boehringer Ingelheim
7.9 Pfizer
7.10 Agrovet Market animal head
7.11 Biomin Naturally ahead
7.12 Ouro Fino Saude Animal ParticipacoesSA
8. South America Companion Animal Healthcare Market - Appendix
8.1 About Us
8.2 Disclaimer
About DataM Intelligence
DataM Intelligence 4Market Research is a Market Intelligence and Business Research firm, based in India. It aims to bridge the two main aspects of a business decision - opinion and supportive data.
Market Research for long has been losing its credibility owing to low reliability and high proportions of estimations. Having identified this gap, DataM was established to provide businesses with reliable and near-market intelligence. Reporting the actual market scenario has been made possible by our proprietary methodology, that essentially revolves around gathering inputs from industry participants and integrating the trends into statistical Databank. This approach not only aligns the findings with historical data but also allows a highly justifiable forecast model.
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