Press release
Companion Animal Healthcare Market 2027 – Elanco, Zoetis Inc., Ceva Sante Animale, Virbac, Merck and Co. Inc.
Competitive Analysis:
The key players that are involved in global companion animal healthcare market are
• Elanco(U.S.)
• Zoetis Inc. (U.S.)
• Merial/Sanofi (France)
• Bayer AG (Germany)
• Ceva Sante Animale (France)
• Virbac (France)
• Vetoquinol S.A. (France)
• Merck and Co. Inc. (U.S.)
• Perrigo Company plc. (Ireland)
• Boehringer Ingelheim (Germany)
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Market Segments:
The market for companion animal healthcare is segmented into mainly three; by product type, by species and its various sub-segments.
• By Product Type include Feed additives, Pharmaceuticals, Vaccines
• By Species includes dogs, cats, horses, beef cattle
Market Highlight:
The Global Companion Animal Healthcare Market is growing with the rapid pace; mainly due to the increasing per capita income. According to a recent study report published by the Market Research Future, The global Companion Animal Healthcare Market is booming and expected to gain prominence over the forecast period growing rapidly .The market is forecasted to demonstrate a spectacular growth by 2027, surpassing its previous growth records in terms of value with a striking CAGR during the anticipated period (2017 – 2027).
The Market is going to continue with the same trends of growth during the forecast period. The major drivers will be the continued strengthening of the bond between owners and their animal companions, increasing companion animal owner awareness, and increasing companion animal owner demands and expectations for companion animal care. With it the market for products, including pharmaceuticals and vaccines, which contribute significantly to the health and wellbeing of these animals. Rise in the income levels of individuals leveraging to the recent trends is leading to the increase in the number of pet (Companion Animal) adoption which ultimately leads to increase in the demand of Companion Animal Healthcare. New trends of nuclear families and increasing average income among individuals have resulted in increased adoption of pets among middleclass families as well. Increased awareness regarding animal cruelty has also influenced people awareness and ideologies towards animals. Additionally, advances in animal health medicines and vaccines, increased types of medical treatment are fostering the market growth of Companion Animal Healthcare Market.
Companion Animal ownership and expenditures have been rising since past few decades. Pet owners are spending more per pet than ever before. Pet owners insist that their pets should lead the same healthy lifestyles as they do. A transition that’s largely the result of changing generational attitudes. While the rise in pet ownership boosts overall spending, the amount spent per pet is increasing as well. The Companion Animal Healthcare industry is thriving. The American Pet Products Association reports that overall household pet ownership has grown to 68% in 2016, up from 54% in 2009.
The rapid expansion of pet health care is providing impetus to the small but growing field of pet insurance. Although less than 1% of pets in the United States and Canada were covered by a plan in 2014, pet insurance premiums have grown enormously since then.
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Regional Analysis of Companion Animal Healthcare
North America dominated the global companion animal healthcare market with the largest market share, accounting for million and is expected to grow over billion by 2027. The European market for Companion Animals Healthcare is expected to grow GAGR (2016-2027). Asia-Pacific is expected to grow at CAGR from million in 2016 to million by 2027.
About Market Research Future:
At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.
MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.
Contact:
Akash Anand,
Market Research Future
Office No. 528, Amanora Chambers
Magarpatta Road, Hadapsar,
Pune - 411028
Maharashtra, India
+1 646 845 9312
Email: akash.anand@marketresearchfuture.com
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