Global Pet Animal Health-Products Market Overview:
Animal health products, such as vaccines to prevent disease or pain relievers to lessen the suffering of animals, are used by veterinarians, pet owners, and farmers to protect animal health. The availability of animal medications has certain advantages, such as extending the lifespans of domestic pets and enhancing our enjoyment of them, as well as assisting farmers in growing safer and better food. The factors driving the market are rising demand for animal-derived food products, increasing livestock population and growing awareness about animal health, and Growing frequency of animal disease outbreaks.
Attributes | Details |
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Study Period | 2017-2027 |
Base Year | 2021 |
Forecast Period | 2022-2027 |
Historical Period | 2017-2021 |
Unit | Value (USD Million) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
Influencing Trend:
Innovations in animal healthcare products and Consolidation in the animal health industry
Market Growth Drivers:
Rising demand for animal-derived food products, Increasing livestock population and growing awareness about animal health and Growing frequency of animal disease outbreaks
Challenges:
Growing resistance to parasiticides and antibiotics, Diversity of parasite species, Inadequate surveillance and reporting systems of vaccines and High costs of feed additives leading to the adoption of conventional feeding systems
Restraints:
Restrictions on the use of parasiticides in food-producing animals, The shift toward a vegetarian diet and Rising vaccine storage cost
Opportunities:
Lucrative growth opportunities in Emerging Countries and Growth in companion animal ownership and rising adoption of pet health insurance
Competitive Landscape:
Global Pet Animal Health Products is a fragmented market due to the presence of various players. The players are focusing on planning strategic activities like partnerships, mergers, and acquisitions which will help them to sustain in the market and maintain their competitive edge.
Some of the key players profiled in the report are Idexx Laboratories (United States), Innovative Diagnostics (United States), BioChek BV (Netherlands), Boehringer Ingelheim International GmbH (Germany), Norbrook (United Kingdom), Elanco Animal Health (United States), bioMerieux SA (France), Ceva Animal Health LLC (United States), Heska Corporation (United States) and INDICAL Bioscience GmbH (Germany). Additionally, following companies can also be profiled that are part of our coverage like Zoetis Inc. (United States), Merck & Co. Inc. (United States), Vetoquinol (France), Phibro Animal Health (United States), Thermo Fisher Scientific (United States), Randox Laboratories Ltd (United Kingdom) and Virbac SA (France). Considering Market by Distribution Channels, the sub-segment i.e. Manufacturers will boost the Pet Animal Health-Products market. Considering Market by Animal Type, the sub-segment i.e. Dogs will boost the Pet Animal Health-Products market. Considering Market by End User, the sub-segment i.e. Veterinary Hospitals & Clinics will boost the Pet Animal Health-Products market.
Latest Market Insights:
In June 2022, Zoetis Incacquired Basepaws, a privately held petcare genetics company, which provides pet owners with genetic tests, analytics, and early health risk assessments. The genetic insights from Basepaws help pet owners and veterinarians understand an individual pet’s risk for disease and can lead to more meaningful engagements and increased likelihood of early detection and treatment of disease.
In September 2022, Wellness Pet Company, a maker of premium natural food and treats for dogs and cats, announced three new partners and a new vision for the Wellness Foundation, to enhance the human experience and promote the mutually beneficial relationship between people and pets.
What Can be Explored with the Pet Animal Health-Products Market Study
Gain Market Understanding
Identify Growth Opportunities
Analyze and Measure the Global Pet Animal Health-Products Market by Identifying Investment across various Industry Verticals
Understand the Trends that will drive Future Changes in Pet Animal Health-Products
Understand the Competitive Scenario
- Track Right Markets
- Identify the Right Verticals
Research Methodology:
The top-down and bottom-up approaches are used to estimate and validate the size of the Global Pet Animal Health-Products market.
In order to reach an exhaustive list of functional and relevant players various industry classification standards are closely followed such as NAICS, ICB, SIC to penetrate deep in important geographies by players and a thorough validation test is conducted to reach most relevant players for survey in Pet Animal Health-Products market.
In order to make priority list sorting is done based on revenue generated based on latest reporting with the help of paid databases such as Factiva, Bloomberg etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment by targeting key target audience that includes Pet Animal Health Products Manufacturers, Regulatory Bodies, Potential Investors, Research and Development Institutes, End Users and Others.
This helps us to gather the data related to players revenue, operating cycle and expense, profit along with product or service growth etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that includes Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, USPTO, EPO, Annual reports, press releases etc.