Press release
Companion Animal Health Market Size, Growth, Regional Demand, Top Companies and Forecast 2023-2028
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 pets' well-being and medical care, including dogs, cats, and other domestic animals. It encompasses a range of aspects, such as preventive care, vaccinations, nutrition, and treatment of illnesses or injuries. Ensuring companion animal health is crucial for their quality of life and longevity, as pets provide emotional support and companionship to their owners. Veterinary care is pivotal in this field, offering diagnostic tools, surgical procedures, and medications to address various health issues. Increasingly, there's a focus on holistic approaches, including proper nutrition, exercise, and mental stimulation, to enhance companion animals' overall health and happiness, recognizing their role as cherished members of many households.
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Competitive Landscape with Key Players:
• 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 is majorly driven by the increasing humanization of pets. Pet owners view their animals as family members, fostering a greater willingness to invest in their health and well-being. This increases spending on veterinary care, medications, and premium pet food. In line with this, advances in veterinary medicine have expanded treatment options, making it possible to address a wider range of health issues in companion animals. This includes diagnostic technologies, surgical procedures, and pharmaceutical innovations that improve the quality of care available.
Furthermore, the rise of pet insurance has made it more affordable for owners to seek comprehensive medical care for their pets, further encouraging responsible pet ownership. Moreover, the global pet adoption rates have accelerated, leading to a larger pet population and increasing the demand for veterinary services and health products. The COVID-19 pandemic has also intensified the bond between humans and their pets, elevating awareness about companion animal health and driving greater investments in pet care.
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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.einpresswire.com/article/641507665/neurodegenerative-disease-treatment-market-to-cross-us-97-2-billion-by-2028
• https://www.einpresswire.com/article/641508655/neurosurgery-devices-market-to-hit-us-21-1-billion-by-2028
• https://www.einnews.com/pr_news/632382965/medical-lasers-market-to-reach-us-7-7-billion-by-2028
• https://www.einnews.com/pr_news/626435879/healthcare-predictive-analytics-market-to-witness-huge-growth-during-2023-2028
• https://www.einpresswire.com/article/641494004/test-environment-as-a-service-market-report-2023-industry-trends-share-size-demand-and-future-scope-by-2028
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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