Press release
Companion Animal Health Market Report 2023, Global Industry Demand, Size, Share, Growth and Forecast by 2028
Companion Animal Health Market
IMARC Group's latest report, titled "Companion Animal Health Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028", the global companion animal health market size reached US$ 23.4 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 39.0 Billion by 2028, exhibiting a growth rate (CAGR) of 8.4% during 2023-2028.
What is Companion Animal Health ? :
Companion animal health refers to the overall physical and emotional well-being of pets, including dogs, cats, and other small mammals, that serve as companions to individuals. These animals play a crucial role in helping people achieve various health goals, such as reducing stress levels and lowering blood pressure. The concept of companion animal health encompasses a wide range of concerns, from preventive care and regular check-ups to the treatment of both chronic and acute illnesses.
Its focus is on maintaining the physical health and ensuring the mental and emotional well-being of pets through appropriate socialization, training, and addressing behavior issues, including separation anxiety and aggression. Additionally, companion animal health involves providing proper nutrition, exercise, a safe and clean environment, as well as regular veterinary check-ups and vaccinations to prevent and control the spread of infectious diseases.
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Competitive Landscape with Key Players:
The competitive landscape of the industry has also been examined along with the profiles of the key players being
• Agrolabo S.p.A
• Boehringer Ingelheim
• Ceva Santé Animale
• Dechra Pharmaceuticals PLC
• Elanco Animal Health Incorporated
• IDEXX Laboratories Inc
• Indian Immunologicals Limited (National Dairy Development Board)
• Merck & Co. Inc
• Norbrook Laboratories
• Vetoquinol SA
• Virbac
• Zoetis
Companion Animal Health Market Growth:
The global market for companion animal health is being driven by the increasing trend of pet ownership. Furthermore, the rising incidence of chronic conditions such as obesity, diabetes, and cardiovascular diseases in pets is fueling the demand for pet healthcare products and services. Besides, the growing awareness about the significance of animal health and well-being among the individuals is also contributing to market.
Furthermore, several major companies are developing effective drugs and vaccines in response to the increasing number of animal diseases, thereby augmenting the market. Additionally, the introduction of advanced technologies, such as telemedicine and smart pet healthcare products is creating a positive market outlook. Other factors, such as the growing popularity of pet insurance and the rising disposable income levels of individuals are also influencing the market.
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Key Market Segmentation:
Breakup by Animal Type:
• Dogs
• Cats
• Equine
• Others
Breakup by Product:
• Vaccines
• Pharmaceuticals
• Feed Additives
• Diagnostics
• Others
Breakup by End User:
• Point-of-care Testing/In-house Testing
• Veterinary Hospitals and Clinics
• Others
Breakup by Region:
• North America (United States, Canada)
• Europe (Germany, France, United Kingdom, Italy, Spain, Others)
• Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
• Latin America (Brazil, Mexico, Others)
• Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
Key Highlights of the Report:
• Market Performance (2017-2022)
• Market Outlook (2023-2028)
• Porter's Five Forces Analysis
• Market Drivers and Success Factors
• SWOT Analysis
• Value Chain
• Comprehensive Mapping of the Competitive Landscape
Related Report by IMARC Group:
• https://www.imarcgroup.com/global-portable-health-monitoring-devices-market
• https://www.imarcgroup.com/preimplantation-genetic-testing-market
• https://www.imarcgroup.com/preventive-healthcare-technologies-services-market
• https://www.imarcgroup.com/protein-expression-market
• https://www.imarcgroup.com/refurbished-medical-equipment-market
Contact us:
IMARC Group
134 N 4th St. Brooklyn, NY 11249, USA
Email: sales@imarcgroup.com
Tel No:(D) +91 120 433 0800
Americas:- +1 631 791 1145 | Africa and Europe :- +44-702-409-7331 | Asia: +91-120-433-0800, +91-120-433-0800
About Us:
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC's information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company's expertise.
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