Press release
Companion Animal Drugs Market 2021 By Regional Players Boehringer Ingelheim, Symrise, Merck & Co, and Zoetis
Companion animal drugs and medications that are easily available from online platforms at discounted prices. Several governments have set up regulations and rules regarding animal protection and against the abuse of animals. Global organizations like PETA widely promote animal adoption and rescue, as well as provide public education, legislation and cruelty investigations. Moreover, the Animal Welfare Board of India promotes animal welfare and offers grants to be used for the care of rescued, sheltered animals and for immunization and birth control. Such grants and schemes could boost pet adoption.
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Given to increasing demand, companion animal drug manufacturers are introducing new products and solutions. For example, in 2019, Ceva Sante Animale announced the launch of Forceris, the first approved injectable combination of toltrazuril and gleptoferron, meant for the treatment of neonatal piglets. With such innovations, Global Market Insights, Inc., reckons that the companion animal drugs market may surpass USD 17.6 billion by 2027.
Medicated feed additives are likely to witness rapid growth at a rate of 7.2% over the forecast timeframe owing to several benefits including refinement of quality and nutritional content of the feed. These additives help in the overall development and growth of pet animals. Companion animals who suffer from chronic diseases and long-term treatments might become unmanageable or stressed. During such times, medicated feed additives act as a suitable method for the administration of veterinary medicines to pets. Prescribed companion animal drugs via medicated feed additives provide a safe and stress-free treatment to animals.
Cats are one of the most preferred pet animals globally, and as per reports, there are currently more than 500 million domestic cats around the world. The cats segment held a substantial valuation of above USD 4,006 million in 2020 owing to growing adoption and high prevalence of chronic diseases and health issues.
In terms of route of administration, the injectable segment accounted for the largest revenue share of 44% in 2020 and is projected to rise owing to increasing incidence of rabies, cancer and other infectious diseases. Injectables target the different skin layers directly and are given depending upon the animal type. Robust vaccine development activities could propel segment share.
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Globally, the companion animal drugs market consists of firms such as Elanco, Symrise, Boehringer Ingelheim International GmbH, Merck & Co, Zoetis, and Ceva. These companies are working on multiple business strategies like new product innovations and launches.
Partial Chapter of the Table of Content
Chapter 5 Companion Animal Drugs Market, By Animals
5.1 Key segment trends
5.2 Dogs
5.2.1 Market size, by region, 2016 - 2027 (USD Million)
5.3 Cats
5.3.1 Market size, by region, 2016 - 2027 (USD Million)
5.4 Horses
5.4.1 Market size, by region, 2016 - 2027 (USD Million)
5.5 Others
5.5.1 Market size, by region, 2016 - 2027 (USD Million)
Chapter 6 Companion Animal Drugs Market, By Route of Administration
6.1 Key segment trends
6.2 Oral
6.2.1 Market size, by region, 2016 - 2027 (USD Million)
6.3 Injectable
6.3.1 Market size, by region, 2016 - 2027 (USD Million)
6.4 Topical
6.4.1 Market size, by region, 2016 - 2027 (USD Million)
6.5 Others
6.5.1 Market size, by region, 2016 - 2027 (USD Million)
Browse full table of contents (TOC) of this report @ https://www.gminsights.com/toc/detail/companion-animal-drugs-market
Contact Us:
Arun Hegde
Corporate Sales, USA
Global Market Insights, Inc.
Phone: 1-302-846-7766
Toll Free: 1-888-689-0688
Email: sales@gminsights.com
About Global Market Insights, Inc.
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
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