Companion animals play an essential role in the lives of many, providing a sense of belonging and responsibility. They are pets that are kept for the protection and security of a person, company, or property. Companion animals offer a safe environment to its owners. Cats and dogs are one of the most popular pets owned by people. Animal health products primarily feeds, are the most commonly used products for animal healthcare. Inclusive of animal feeds, the market for pharmaceuticals and vaccines, which contribute significantly to the health and wellbeing of these animals, are commonly used products as well. They provide nutritional welfare to the animals. Companion animal ownership and expenditures have also been increasing for the past few years. Pet owners insist that their pets should lead the same healthy lifestyles as they do.
MARKET DYNAMICS
The veterinary healthcare for companion animals market has shown a significant evolution over the forecast period. The rise of the veterinary healthcare for companion animals market is driven by the increase in the number of people having pets, animal healthcare and vaccination, and demand for animal healthcare products. A rise in the income levels of individuals leveraging the recent trends leads to an increase in the number of pet (companion animal) adoption, leading to a surge in demand for companion animal healthcare. Moreover, the increase in the number of government initiatives to promote veterinary care products is anticipated to drive the growth during the forecast period. The introduction of initiatives, such as the One Health Initiative to improve healthcare standards for animals, has further boosted growth prospects. However, a lack of veterinary infrastructure and stringent laws regarding pharmaceutical drugs is likely to restrain the market's growth.
MARKET SCOPE
The "Veterinary Healthcare for Companion Animals Market Analysis to 2028" is a specialized and in-depth study of the healthcare industry's pharmaceuticals, focusing on the global market trend analysis. This report outlines the veterinary healthcare for companion animals market with detailed market segmentation by product, animal type, and end-user. The veterinary healthcare for companion animals market is estimated to witness a high rise during the forecast period. It focuses on the vital statistics on leading players' market status in the veterinary healthcare for companion animals market and provides key opportunities and trends in the market.
MARKET SEGMENTATION
The market is categorized based on the product, animal type, and end user. Based on the product, the market is segmented as feed additives, pharmaceuticals, vaccines, diagnostics, and others. Based on the animal type, the segmentation of the market is into dogs, cats, and others. Based on end user, the segmentation of the market is into veterinary hospitals, veterinary clinics, animal research institutes, and others.
REGIONAL FRAMEWORK
The report states a detailed outline of the industry, consisting of both quantitative and qualitative information. It offers a sketch and forecast of the veterinary healthcare for companion animals market based on various segments. The report also consists of market size and forecast estimates from the year 2020 to2028with respect to five main regions, namely; North America, Asia-Pacific (APAC), Europe, Middle East, and Africa (MEA), and South & Central America (SCAM). The veterinary healthcare for companion animals market by each region is then sub-segmented into respective countries and segments. It comprises the analysis and forecast of 18 countries globally and the recent trend and opportunities prevailing in the region.
The report analyzes factors affecting the veterinary healthcare for companion animals market from both the demand and supply sides. Furthermore, it evaluates market dynamics regarding the market during the forecast period, i.e., drivers, restraints, opportunities, and future trends. It also consists of precise PEST analysis for all five regions, namely, North America, Asia Pacific, Europe, Middle East, and Africa, and South & Central America, after assessing political, social, economic, and technological factors affecting the veterinary healthcare for companion animals market in these regions.
MARKET PLAYERS
The report contains critical developments in the veterinary healthcare for companion animals market as inorganic and organic growth strategies. Several companies are pivoting on organic growth strategies like product launches, product approvals, and others, such as patents and events. Inorganic growth strategies observed were collaborations and acquisitions &partnerships. Various such activities have paved the path for elaborating the business and customer base of market players. The market players from the veterinary healthcare for companion animals market are estimated to have profitable growth opportunities in the coming years with the higher demand for veterinary healthcare for companion animals in the global market. Given below is the list of a few companies engaged in the veterinary healthcare for companion animals market.
The report also offers key players' profiles in the veterinary healthcare for companion animals market, along with their SWOT analysis and market strategies. Also, the report focuses on the key market players with information on company profiles, financial information of the last three years, components, and services provided, critical development in the past five years.
-Zoetis
-Boehringer Ingelheim International GmbH
-Bayer AG
-Eli Lilly and Company.
-Ceva
-Dechra Pharmaceuticals PLC.
-Intervet Inc. (Merck & Co. Inc.)
-Virbac.
-Vetoquinol S.A.
-Evonik Industries AG.
The Insight Partner's dedicated research and the analytical team comprises of experienced professionals with advanced statistical expertise and offers several customization options in the current report.