Rising Prevalence of Zoonotic Diseases Bolsters Growth

Global Companion Animal Pharmaceuticals Market

Dublin, March 31, 2023 (WORLD NEWSWIRE) — The “Global Companion Animal Pharmaceuticals Market by Animal Type (Dogs, Cats, Horses), Route of Administration (Oral, Injectable, Topical), Indication (Antibiotics, Parasiticides), Distribution Channel (Veterinary Hospitals & Clinics) & Region – Forecasts to 2027” report has actually been contributed to ResearchAndMarkets.com’s offering.

from USD 14.4 billion in 2022, at a CAGR of 6.3% throughout the projection duration. The increasing occurrence of zoonotic illness, Rising need for family pet insurance coverage due to growing animal health expense, Increasing R&D financial investments for animal health care, Initiatives by numerous federal government firms and animal associations and high family pet ownership rates around the world are a few of the aspects driving the development of these markets.

However, increasing family pet care expenses, restricted variety of brand-new item advancements, high cost of vaccines and intricacies connected with storage, Growing resistance to antimicrobials and prescription antibiotics are limiting the development of this market to a particular degree.

The dermatologic illness sector is forecasted to grow at the greatest CAGR in the buddy animal pharmaceuticals market

The dermatologic illness sector is forecasted to grow at the greatest CAGR throughout the projection duration. The increasing requirement for sophisticated orthopedic drugs, increasing occurrence of arthritis, and growing pet population in established and establishing nations are a few of the essential aspects driving the development of this sector.

In the projection duration, the dogs sector holds the biggest share in the animal type sector

The dogs sector represented the biggest market share in 2021. The big share of this sector is credited to the increasing dog population and increasing ownership rate in both established and establishing nations , increasing canine health care expense, increasing occurrence of zoonotic illness and other skin allergic reactions in dogs, and the increasing variety of family pet insurance companies around the world.

Story continues

In the projection duration, by circulation channel sector, veterinary health centers is anticipated to grow at the greatest CAGR in the buddy animal pharmaceuticals market

During the projection duration, the veterinary health centers sector is anticipated to grow at the greatest CAGR. The greater adoption of animal parasiticides, analgesic, antimicrobials and prescription antibiotics in healthcare facility settings, increasing cases of contagious illness, increasing variety of veterinary health centers, growing ownership rate of buddy animals, and increasing veterinary expense are a few of the essential aspects driving the development of this sector.

By Region, North America holds the biggest share in the buddy animal pharmaceuticals market, in the projection duration

By Region, In 2021, North America represented the biggest share of the buddy animal pharmaceuticals market in the projection duration, followed by Europe, the Asia Pacific, Latin America, and the Middle East & Africa. The big share of North America can be credited to the high adoption rate of buddy animals such as dogs and cats, reputable base of animal health markets, increasing animal adoption centers, increasing cases of parasitic infections, the a great deal of health centers and centers, growing expense on animal health in the area and , growing swimming pool of vets.

Market Dynamics

Market Drivers

• Rising Prevalence of Zoonotic Diseases

• Rising Demand for Pet Insurance due to Growing Animal Health Expenditure

• Increasing R&D Investments for Animal Healthcare

• Rising Awareness Initiatives by Government Agencies and Animal Welfare Organizations

• High Pet Ownership Rates Worldwide

Market Restraints

• Rising Pet Care Costs

• Limited Number of Novel Pharmaceuticals for Veterinary Care

• High Cost of Vaccines and Complexities Associated with Storage

• Growing Resistance to Antimicrobials and Antibiotics

Market Opportunities

• Lucrative Growth Opportunities in Emerging Markets

• Growing Prevalence of Chronic Animal Diseases

• Rising Technological Advancements in Vaccine Manufacturing

Market Challenges

• Stringent Regulatory Approval Process for Pharmaceuticals

• Limited Awareness of Vaccine Coverage

• Misdiagnosis due to Diversity of Parasites

• Low Animal Healthcare Expenditure in Emerging Countries

Key Attributes:

Key Topics Covered:

1 Introduction

2 Research Methodology

3 Executive Summary

4 Premium Insights

5 Market Overview

6 Industry Insights

7 Companion Animal Pharmaceuticals Market, by Indication
7.1 Introduction
7.2 Infectious Diseases
7.2.1 Parasiticides
7.2.2 Vaccines
7.2.3 Antibiotics and Antimicrobials
7.2.4 Others
7.3 Dermatologic Diseases
7.4 Pain
7.5 Orthopedic Diseases
7.6 Behavioral Disorders
7.7 Other Indications

8 Companion Animal Pharmaceuticals Market, by Route of Administration
8.1 Introduction
8.2 Oral Administration
8.3 Injectable Administration
8.4 Topical Administration

9 Companion Animal Pharmaceuticals Market, by Animal Type
9.1 Introduction
9.2 Dogs
9.3 Cats
9.4 Horses
9.5 Other Companion Animals

10 Companion Animal Pharmaceuticals Market, by Distribution Channel
10.1 Introduction
10.2 Veterinary Hospitals
10.3 Veterinary Clinics
10.4 Retail Pharmacies

11 Companion Animal Pharmaceuticals Market, by Region

12 Competitive Landscape

13 Company Profiles

14 Appendix

Companies Mentioned

• Analyst’s View

• Ashish Life Science Pvt. Ltd.

• Biogenesis Bago S.A.

• Boehringer Ingelheim International GmbH

• Brilliant Biopharma

• Ceva Sante Animale

• Chanelle Pharma

• Dechra Pharmaceuticals plc

• Eco Animal Health Group plc

• Elanco Animal Health Incorporated

• Endovac Animal Health

• Hipra

• Indian Immunologicals Ltd.

• Intas Pharmaceuticals

• Kyoritsu Seiyaku

• Merck & Co., Inc.

• Neogen Corporation

• Norbrook

• Orion Group

• Pharma Pvt. Ltd.

• Tianjin Rinpu Bio-Technology Co., Ltd.

• Vetindia Pharmaceuticals Limited

• Vetoquinol

• Virbac

• Zenex Animal Health India Private Limited

• Zoetis Inc.

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