Industry Background:
Companion animal health research is a growing area of interest that includes a dynamic group of veterinary researchers from a variety of disciplines. Research activities cover topics such as improving minimally invasive surgical techniques and investigating infectious and vector-borne diseases. Companion animals are progressively important parts of families. Over the past few decades, companion animals have been shown to provide long-term physical and mental well-being for people's health. Thus, the demand for pets continues to grow. Additionally, a surge in the awareness of maintaining their health creates lucrative opportunities for the market.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
Key Companies Profiled | Bimini LLC (United States), BioZyme, Inc. (United States), Zoetis Inc. (United States), BioPredic International (France), Boehringer Ingelheim Animal Health (Germany), Merck Animal Health (United States), Cereal Byproducts Co. (United States), Elanco Animal Health (United States), Dechra Veterinary Products (United States), Bayer AG (Germany), Durvet, Inc. (United States), Ceva Sante Animale S.A. (France), Hyalogic Animal Health (United States), Virbac SA (France), iVet Professional Formulas (United States), Vetoquinol SA (France), Jaguar Animal Health (United States), Covetrus, Inc. (United States), MWI Animal Health (United States), Ortho-Equine (United States) and Parnell (United States) |
This growth is primarily driven by Raising Awareness Regarding Health and Wellbeing of Pets, Growing Humanisation of Pet and Increasing Expenditure of Veterinary Products and Services.
Globally, a noticeable market trend is evident Millennials are Likely to adopt Companion Animals
Major Players, such as Bimini LLC (United States), BioZyme, Inc. (United States), Zoetis Inc. (United States), BioPredic International (France), Boehringer Ingelheim Animal Health (Germany), Merck Animal Health (United States), Cereal Byproducts Co. (United States), Elanco Animal Health (United States), Dechra Veterinary Products (United States), Bayer AG (Germany), Durvet, Inc. (United States), Ceva Sante Animale S.A. (France), Hyalogic Animal Health (United States), Virbac SA (France), iVet Professional Formulas (United States), Vetoquinol SA (France), Jaguar Animal Health (United States), Covetrus, Inc. (United States), MWI Animal Health (United States), Ortho-Equine (United States) and Parnell (United States), etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years. The market for Companion Animal Health Management is expected to grow with rising demand for companion animals and awareness of maintaining their wellbeing. Further, the surge in animal husbandry-related services created a huge positive impact on the market. Though high complications in ownerships create a burden on the market. Major players in the industry are gaining attention from the market.
In March 2022, Companion Animal Health, a global animal health company specializing in laser and rehabilitation therapies in veterinary markets announced a strategic investment with HT BioImaging to co-brand and exclusively sell the HTVet product in the U.S. and Canada. HTVet enables a non-invasive, real-time diagnostic of suspicious cutaneous and subcutaneous masses at the point of care. It also delivers precise results and accurate testing in-clinic.
Influencing Trend:
Millennials are Likely to adopt Companion Animals and Owing to the Availability of Pet Insurance, Focus on Animal Health has been raised
Market Growth Drivers:
Raising Awareness Regarding Health and Wellbeing of Pets, Growing Humanisation of Pet and Increasing Expenditure of Veterinary Products and Services
Challenges:
Risk of Disease Introduction & Its Spread and Poor Surveillance Practises in Rural Areas
Restraints:
Complications associated with Pet Ownerships Procedures and Prohibitions on Companion Animals
Opportunities:
Huge Preference for Animal Health Management to Maintain Their Wellbeing and Growing Animal Husbandry based Infrastructure especially for Medications
AMA Research follows a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mostly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcases the spontaneously changing Players landscape impacting the growth of the market. Furthermore, our market researchers extensively analyze the products and services offered by multiple players competing to increase their market share and presence.
Customization in the Report
AMA Research features not only specific market forecasts but also includes significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints in Companion Animal Health Management Market
- Analysis about New Entrants in Companion Animal Health Management Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
- An Unbiased Perspective towards Market Performance & Indicators
Against this Challenging Backdrop, Companion Animal Health Management Study Sheds Light on
The Companion Animal Health Management Market status quo and key characteristics. To end this, Analysts at AMA organize and took surveys of the Companion Animal Health Management industry Players. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Companion Animal Health Management industry is heading and what are the top priorities. Insights are drawn from financial analysis, surveys, and interviews with key executives and industry experts.
How every company in this diverse set of Players can best navigate the emerging competition landscape and follow a strategy that helps them position to hold the value they currently claim or capture the new addressable opportunity.