global companion animal drug market is projected to register a healthy CAGR of 4.9% over the forecast period 2015-2025
Companion animals are those animals that can be domesticated or bred domestically, and have the right temperament, to be maintained as pets in homes, or in close daily proximity or relationship with humans. The drug market for companion animals comprises eight broad product categories such as antibiotics, anti-inflammatory drugs, parasiticides (further sub-segmented into ecto-parasiticides and endo-parasiticides), heartworm medicines, nutritional, behavioural and skincare drugs and vaccines. The market has also been segmented by distribution channels such as veterinary hospitals, veterinary clinics and pharmacies and drug stores.
Market Value and Forecast
In terms of value, the global companion animal drug market is estimated to expand at a CAGR of 4.9% during the forecast period. Global companion animal drug market value is expected to increase to US$ 44,727.3 Mn by 2025.
Request Report Sample@ http://www.futuremarketinsights.com/reports/sample/rep-gb-1077
Growth of the global companion animal drug market is mainly driven by rising pet adoption and growing demand for animal welfare, apart from economic factors such as rising affluence and urbanization, primarily affecting emerging countries. However, rising cost of R&D, primarily driven by increasing overhead and raw material costs, and limited scope for major product innovation are expected to restrain growth of the market over the forecast period.
International regulatory harmonization spanning regions are set to define the common registration process for veterinary drugs, which is expected to simplify the process for documentation, approval and pharmacovigilance activities for these drugs.
Market Segmentation By Product
Based on product type, the market has been segmented into antibiotics, anti-inflammatory drugs, parasiticides (further sub-segmented into ecto-parasiticides and endo-parasiticides), heartworm medicines, nutritional, behavioural and skincare drugs and vaccines. In terms of value, the parasiticides segment is estimated to account for over 40% share of the global companion animal drug market by 2025 end, and remain dominant and most attractive throughout the forecast period.
Market Segmentation By Distribution Channels
On the basis of distribution channels, the market has been segmented into veterinary hospitals, veterinary clinics and pharmacies and drug stores. Veterinary clinics followed by hospitals are the most preferred medium of drug distribution. However, emergence of retail pharmacies, which service mail order requests, are set to pose stiff competition to the traditional channels in certain regions over the forecast period.
The global companion animal drug market has been segmented into seven major regions namely North America, Latin America, Eastern Europe, Western Europe, Asia Pacific Excluding Japan (APEJ), Japan, and Middle East & Africa. In terms of value, North America is estimated to dominate the market with 33.0% share of the overall companion animal drug market by 2015 end. Latin America and APEJ are estimated to be fastest growing among the emerging markets, while market in Western Europe is expected to exhibit a healthy CAGR despite decline in human population.
Global Companion Animal Drug Market
Send An Enquiry@ http://www.futuremarketinsights.com/askus/rep-gb-1077
Some key players identified in the global companion animal drug market report include Elanco (Eli Lilly), Merck Animal Health, Boehringer Ingelheim, GmbH Bayer Animal Healthcare, Merial (Sanofi, Virbac Animal Health, Zoetis Inc., and Ceva Santé Animale. The report is enriched through identification of company-specific strategies related to drug development, market consolidation initiatives and analyses of their specific strengths, weaknesses, opportunities and threats.
About Us – Future Market Insights is the premier provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in London, the global financial capital, and has delivery centers in the U.S. and India.
Future Market Insights
616 Corporate Way,
New York 10989,
This release was published on openPR.
Permanent link to this press release:
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 global companion animal drug market is projected to register a healthy CAGR of 4.9% over the forecast period 2015-2025 here
News-ID: 473505 • Views: 259
More Releases from Future Market Insights
How Changing Dynamics of Cable Testing Market are Reflecting on Growth Strategie …
Global Cable Testing Market: Introduction The cost of the substitution of cables that are concealed is very high. Faults in the cable, bending, kinking, and crushing, are not always visible, which has created the requirement for cable testing. Thus, cable testing helps check the cable functionality, cable quality, and cable conformity. Several times, cable testing by visual inspection is an effective way of identifying the actual problem before it causes any
How Transformative Trends in Self-Organising Network Market are Molding Strategi …
Self-Organising Network: Introduction With accelerated advancements and increasing complexities in the radio network technologies, such as those utilised for the development of LTE and 5G networks, which are used for planning, management, configuration, healing and optimisation, are required to be automated to facilitate efficiency. At present, suppliers are offering self-organising networks that possess the ability to offer optimum performance. Self-organising networks are use cases that perform network governance, including network planning,
Mining Vehicle AC Kits Market: Exploring the Impact of Trends on Strategies of K …
Mining Vehicle AC Kits Market: Introduction Cabin space in mining equipment has become more sophisticated in the recent past. The installation of mining vehicle AC kits has evolved from an optional feature to a necessary feature. Mining equipment manufacturers have made advancements in technology related to efficiency, performance and cost of air conditioning systems in order to make them affordable and economical to enable low-budget and compact installations without compromising on
Key Factors to Fuel Growth of the Talent Acquisition & Staffing Technology and S …
With the growing importance of recruiting and retaining top talent effectively and efficiently, smart hiring processes are the need of the hour. It is about time organisations move beyond merely scrutinising resumes. Salaries and benefits are important factors, but adopting ways that would make candidates an important part of the hiring process will attract the best talent. Studies reveal that due to discrepancies in existing Applicant Tracking Systems (ATS), hiring
More Releases for Animal
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 Parasiticides Market
Animal Parasiticides Market size is set to reach USD 6.5 billion by 2024; according to a new research report by Global Market Insights, Inc. Rising incidences of zoonotic diseases coupled with increasing industrial animal farming will serve as high impact rendering factors for the global animal parasiticides market. Favorable government initiatives should elevate the global animal parasiticide market due to the activities concerning animal welfare activities, resulting in substantial demand for
Advanced Animal Ventilator Market
The Global and China Advanced Animal Ventilator Market Research Report Forecast 2017-2021 is a valuable source of insightful data for business strategists. It provides the Advanced Animal Ventilator industry overview with growth analysis and historical & futuristic cost, revenue, demand and supply data (as applicable). The research analysts provide an elaborate description of the value chain and its distributor analysis. This Advanced Animal Ventilator market study provides comprehensive data which
Animal Pharm Antibiotics in Animal Production 2016
ReportsWorldwide has announced the addition of a new report title Animal Pharm Antibiotics in Animal Production 2016 to its growing collection of premium market research reports. The global market size for antibiotics use in animal production is large and consumption is projected to reach 105 596 tonnes by 2030. However, extensive evidence now reveals the contribution that antibiotic use has made to the development of antibiotic resistance and its resultant consequences
Animal Pharm: Generics
ReportsWorldwide has announced the addition of a new report title Animal Pharm: Generics to its growing collection of premium market research reports. In 2015, the global animal health market was worth an estimated $30bn. This new thoroughly revised and updated Animal Pharm Generics report focuses primarily on the European and North American markets that comprise around 67% of the global market for animal health products. Also fully reviewed are the EU
Global Animal Antibiotics Market - Zoetis, Elanco, Merck Animal Health & Merial
The Market Research Store report offers majority of the latest and newest industry data that covers the overall market situation along with future prospects for Animal Antibiotics market around the globe. The research study includes significant data and also forecasts of the global market which makes the research report a helpful resource for marketing people, analysts, industry executives, consultants, sales and product managers, and other people who are in need