Press release
Companion Animal Pharmaceuticals Market is Expected to Mask a CAGR of 7.6% During the Projected Period 2023-2032 | Zoetis, Merck & Co., Boehringer Ingelheim GmbH, Elanco Animal Health Incorporated
Companion Animal Pharmaceuticals Market
The rising adoption of pet animals due to growing urbanization and an increase in the number of nuclear families is among the primary market growth factors. A growing focus on animal health along with surging demand for pet insurance, especially in developed countries will augment the market expansion. The consistent rise in the number of diseases affecting animals is, in turn, generating demand for companion animal drugs. Additionally, industrial growth is attributable to the increasing incidence of zoonotic and food-borne diseases across the globe.
Request Sample Report : https://www.globalinsightservices.com/request-sample/GIS10260/?utm_id=1020
Market Trends and Drivers
The key factors such as the growing prevalence of zoonotic diseases is boosting the market growth during the forecast period. Some pathogens, such as zoonotic, can be transmitted from animals to humans. Examples of zoonotic diseases include rabies, salmonellosis, plague, brucellosis, and Lyme disease. Animals also share our susceptibility to certain diseases and environmental hazards and can serve as an early warning for potential human infections. Over the past two decades, the incidence of zoonotic diseases has increased across the globe, primarily as a result of the increased pet population. According to the International Livestock Research Institute (ILRI), 13 zoonoses cause 2.4 billion cases of human diseases and 2.2 million deaths every year. Toxoplasmosis-which is transmitted via cat feces-is quite common, with 10-20% of the UK population and 22% of the US population expected to carry the parasite as cysts. Cats with chronic bacteremia are primarily infected through saliva, and there is a high risk of transmittance from young adult cats. Although cats are asymptomatic carriers, weaker individuals can develop generalized infections. Many of the emerging and re-emerging infectious disease threats are vector-borne diseases transferred to animals and humans from arthropods.
Market Restraints and Challenges
The increasing pet care costs is likely to hinder the market growth during the forecast period. According to the APPA National Pet Owners Survey (2019), the average household in the US spent USD 731 on the routine doctor and surgical visits for dogs in 2019, a rise of 47% as compared to a decade ago. Similarly, USD 427 was spent on the routine doctor and surgical visits for cats in 2019. In Germany, the annual veterinary cost is ~USD 162.9 (EUR 140) per dog and USD 75.61 (EUR 65) per cat. In Japan, pet owners spend around USD 2,000-3,000 (JPY 200,000-300,000) annually on pet health. While the pet insurance market is expanding, the number of animals covered for treatments is still very less. As a result, animal owners generally bear the majority of the cost of treatments. Also, according to the Society for Practicing Veterinary Surgeons, coupled with the increasing pet insurance, the cost of veterinary treatment is rising by about 12% a year.
Read Full Research Report : https://www.globalinsightservices.com/reports/companion-animal-pharmaceuticals-market/?utm_id=1020
Major Players in Companion Animal Pharmaceutical Market
The key factors in the global companion pharmaceutical market are Zoetis Inc. (US), Merck & Co., Inc. (US), Boehringer Ingelheim GmbH (Germany), Elanco Animal Health Incorporated (US), Ceva Santé Animale (France), Virbac (France), Vetoquinol S.A. (France), Dechra Pharmaceuticals plc (UK), Chanelle Pharma (Ireland), Kyoritsu Seiyaku (Japan), Zydus Animal Health and Investments Limited (India), Tianjin Ringpu Bio-Technology Co., Ltd. (China), HIPRA (Spain), Norbrook Holdings Limited (UK), Inovet (Belgium), Endovac Animal Health (US), ECO Animal Health Group plc (UK), Indian Immunologicals Ltd. (India), ALS Pvt. Ltd. (India), and Lutim Pharma Pvt. Ltd. (India).
Purchase this report and Get a flat 50% Discount : https://www.globalinsightservices.com/checkout/single_user/GIS10260/?utm_id=1020
Reasons to buy Companion Animal Pharmaceuticals Market Report:
• Develop comprehensive understanding of market landscape - industry structure, value-chain, key players, trends, drivers, and challenges
• Drive revenue and market-entry strategy by gaining insights into which segments and geographies are largest and likely to grow fastest
• Formulate sales and marketing strategies by gaining understanding of competitors, their positioning, and strengths & weaknesses
• Develop business and M&A strategies through understanding of latest trends and emerging players in the market
• Refine your business plans by understanding impact of disruptions such as Covid-19 and Russia-Ukraine conflict on the market
New Report Published by Global Insight Services : https://www.globalinsightservices.com/reports/hydrogen-projects-database/?utm_id=1020
Contact Us:
Global Insight Services LLC
16192, Coastal Highway, Lewes DE 19958
E-mail: info@globalinsightservices.com
Phone: +1-833-761-1700
Website: https://www.globalinsightservices.com/
About Global Insight Services:
Global Insight Services (GIS) is a leading multi-industry market research firm headquartered in Delaware, US. We are committed to providing our clients with highest quality data, analysis, and tools to meet all their market research needs. With GIS, you can be assured of the quality of the deliverables, robust & transparent research methodology, and superior service.
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 Pharmaceuticals Market is Expected to Mask a CAGR of 7.6% During the Projected Period 2023-2032 | Zoetis, Merck & Co., Boehringer Ingelheim GmbH, Elanco Animal Health Incorporated here
News-ID: 3328505 • Views: …
More Releases from Global Insight Services
Governance Risk and Compliance (GRC) Platform Market to Expand From $53.5 Billio …
The Governance Risk And Compliance (GRC) Platform Market has emerged as a cornerstone for organizations striving to enhance accountability, streamline risk management, and meet growing regulatory demands. GRC platforms provide an integrated framework that enables companies to monitor compliance, manage risks, and ensure governance practices are aligned with industry standards. By combining risk assessment, audit management, compliance tracking, and policy enforcement, these platforms empower businesses to strengthen decision-making and safeguard…
Electronic Manufacturing Services (EMS) Market to Expand From $504.22 Billion in …
The Electronic Manufacturing Services (EMS) Market has become one of the most crucial sectors in the global technology-driven economy. EMS refers to the outsourcing of design, production, testing, and distribution of electronic components for original equipment manufacturers (OEMs). These services are indispensable across industries such as consumer electronics, automotive, telecommunications, and healthcare. In 2024, the EMS sector continues to play a pivotal role in improving efficiency, lowering production costs, and…
Catamaran Market Is Anticipated To Expand From $4.2 Billion In 2024 To $7.8 Bill …
Market Overview
The Catamaran Market is witnessing remarkable expansion, driven by the growing demand for recreational boating, marine tourism, and eco-friendly vessel options. Catamarans, recognized for their stability, spaciousness, and fuel efficiency, are increasingly preferred for leisure sailing, luxury tourism, and competitive racing. The market includes a wide range of offerings such as sailing catamarans, power catamarans, luxury yachts, and charter vessels, each catering to unique consumer preferences.
Innovations in sustainable…
Gear Motor Market to Expand From $24.5 Billion in 2024 to $39.8 Billion by 2034 …
The gear motor market is witnessing steady growth as industries worldwide increasingly depend on reliable and energy-efficient motion control systems. Gear motors, which combine a motor with a gearbox, play a vital role in converting electrical energy into mechanical torque with higher efficiency. These systems are essential across sectors like automotive, robotics, manufacturing, and renewable energy, offering enhanced precision, power transmission, and performance. The market is strongly supported by the…
More Releases for Animal
Animal Health Market Sets the Table for Continued Growth : Zoetis Animal Healthc …
Advance Market Analytics published a new research publication on "Animal Health Market Insights, to 2028" with 232 pages and enriched with self-explained Tables and charts in presentable format. In the Study you will find new evolving Trends, Drivers, Restraints, Opportunities generated by targeting market associated stakeholders. The growth of the Animal Health market was mainly driven by the increasing R&D spending across the world. Some of the key players profiled…
Animal Antimicrobials and Antibiotics Market 2023 Growth and Development By Bion …
Antibiotics, also called antibacterials, are a type of antimicrobial drug used in the treatment and prevention of bacterial infections. They may either kill or inhibit the growth of bacteria. Animal Antimicrobials and Antibiotics includes Premixes, Oral Powders, Oral Solutions and Injections on the base of classification, which represent 12.4%, 14.4%, 10.4% and 56.6% of global Animal Antimicrobials and Antibiotics market.
Get Sample Copy: https://www.worldwidemarketreports.com/sample/273708
Farm Animals and Companion Animals are the…
Animal Healthcare Market Analysis Focusing on Top Key Players - Merck, Bayer Ani …
Worldwide Market Reports recently released on the Animal Healthcare market for the forecast period, 2017 – 2022 is involved in screening the business environment and the companies operating in the Animal Healthcare industry. Importantly, the research sheds a lot of light on their winning strategies to help stakeholders, business owners, and field marketing executives stay ahead in the competition. Besides, the industry is thoroughly weighed upon on the basis of…
Animal Model Market trends, Animal Model Market growth, Animal Model Market size …
Key Findings of Animal Model Market
Developing Regions to Overpower Developed Ones With Regard to Demand
The Asian territory is on the verge of evolving as the next big destination for animal models. This growth can be attributed to various factors such as American and European pharmaceutical companies diversifying their research activities to curtail extra expenses and save costs. Although U.S and Europe have retained their legacy in the global market, their…
Animal Growth Promoter Market Outlook To 2023 – Bayer Animal Health, Biomin, B …
Nov 2018, New York USA (News)- Different categories of feed additives for farm animals are referred to as natural growth promoters (NGPs) or non-antibiotic growth promoters. They are commonly regarded as favorable alternatives to antibiotic growth promoters (AGPs) in livestock production. NGPs include predominantly organic acids, probiotics, prebiotics, synbiotics, phytogenics, tannins, feed enzymes and immune stimulants, an ongoing search for alternatives has created a large variety of NGPs for pigs,…
Animal Antimicrobials and Antibiotics Market Key Players : Animal Health, Bayer …
The term antibiotic or antimicrobial is used for those agents who kill or inhibit the growth of microorganism. The antimicrobials products have significant benefits to the animal and to human food safety. There are researches, which have proven that an increase in the rate of animal illness results in higher rate of human illness. Therefore, livestock dealers depend on animal antibiotics to provide safe food. The scope of this report…
