A companion-animal veterinarian may treat wounds, diagnose illnesses, perform surgery, administer vaccines, and prescribe medications. They also euthanize animals nearing the end of their lives. The market is a perfect competition market with the presence of numerous market players and buyers. The market players are competing based on price, product innovation, and quality.
MARKET SCOPE
The "Global Companion Animal Veterinary Products Market Analysis to 2028" is a specialized and in-depth study of the medical device industry with a special focus on the global market trend analysis. The report aims to provide an overview of the companion animal veterinary products market with detailed market segmentation by product type, animal type and geography. The report provides key statistics on the market status of the leading companion animal veterinary products market players and offers key trends and opportunities in the market.
MARKET SEGMENTATION
- Based on product type, the global companion animal veterinary products market is segmented into therapeutics and diagnostics.
- On the basis of animal type, the market is segmented into dogs, cats, other companion animals
Drivers-
- Increasing pet ownership rates.
- Increase in number of zoonotic & chronic diseases.
- Rising R&D and procedural advancements.
- Shortage of veterinarians.
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2019 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The companion animal veterinary products market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the marketduring the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the companion animal veterinary products market in these regions.
IMPACT OF COVID-19 ON COMPANION ANIMAL VETERINARY PRODUCTS MARKET
COVID-19 first began in Wuhan (China) during December 2019 and since then it has spread at a fast pace across the globe. The US, India, Brazil, Russia, France, the UK, Turkey, Italy, and Spain are some of the worst affected countries in terms confirmed cases and reported deaths. The global outbreak of COVID-19 has impacted all the industries including veterinary medicine. Idexx along with other lead participants have already tested more than thousands of dogs and cats for the virus, with test results being negative. Pet parents are advised to keep a safe distance from their pets to maintain hygiene and reduce the risk of contamination. In a time of pandemic, we tend to maintain social distancing and avoid crowded areas and clustering, especially clinics or hospitals, to avoid the risk of infection.
With the rapid advancement of artificial intelligence and the emergence of fifth-generation (5G) mobile network, smartphone-based apps, telemedicine, and online consultations would likely gain popularity as a modality of innovative and supplementary medical service.
MARKET PLAYERS
The report covers key developments in the companion animal veterinary products market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the marketwere acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market payers from companion animal veterinary products market are anticipated to lucrative growth opportunities in the future with the rising demand for companion animal veterinary products in the global market.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the companion animal veterinary products market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.
- Bayer AG
- Elanco Animal Health
- Merck & Co.
- Merial
- Virbac
- Vetoquinol SA
- Zoetis Inc.
- Ceva Sante Animale
- Nutreco N.V.
- Boehringer Ingelheim GmbH