What is Pet Pharmaceuticals Market?
The pet pharmaceuticals are the medicines used for health maintenance, prevention and cure of diseases of the pets. There is an increase in the population of the pets increasing the demand of pet pharmaceuticals. The pets are facing health problems due to their lifestyle. Hence the pet pharmaceutical market increasing with increasing demand from the market. Pet pharmaceuticals come in a variety of forms allow the owner or veterinarian to administer the needed medications including pills, liquids, injections, powders, feed additives etc.
The market study is being classified by Type (Pain Medications, Anesthetics, Heartworm Preventatives, Antibiotics and Chemotherapy drugs), by Application (Treatment and Prevention) and major geographies with country level break-up.
Zoetis (United States), Merck Animal Health (United States), Merial (France), Elanco (United States), Bayer (Germany), Boehringer Ingelheim (Germany), Novartis (Germany), Virbac Group (United States), Ceva (France) and Vetoquinol (France) are some of the key players profiled in the study. Additionally, the Players which are also part of the research are Eli Lilly and Company (United States), Aratana Therapeutics, Inc. (United States), Dechra Pharmaceuticals plc (United Kingdom) and Perrigo Company plc (Ireland).
Research Analyst at AMA predicts that United States Players will contribute to the maximum growth of Global Pet Pharmaceuticals market throughout the predicted period.
Segment Analysis
Analyst at AMA have segmented the market study of Global Pet Pharmaceuticals market by Type, Application and Region.
On the basis of geography, the market of Pet Pharmaceuticals has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Market Drivers
- Growing Health Concern Related To Pets
- Increased Zoonotic and Food Borne Diseases
- Increased Pet Adoption
- Growing Animal Healthcare Expenditure
Market Trend
- Growth of the Generic and OTC Drugs for Animal Care
Restraints
- Fever New Chemical Entity Approvals
Opportunities
- Continuous Demand for Various Pet Animals’ Healthcare Products
- Rising Government Initiatives to Promote Veterinary Products
Challenges
- Low Productivity of Research Developing Competition
Market Leaders and some development strategies
On 20th August 2019, Elanco Animal Health Incorporated announced the agreement with Bayer AG to acquire its animal health business.
On 06/06/2018, Regeneron Pharmaceuticals, Inc. and Zoetis Inc. announced a five-year collaboration to research the use of Regeneron’s monoclonal antibody therapeutics in animals and discover new veterinary treatments.
Center for Veterinary Medicine (CVM) is the FDA center responsible for overseeing the animal and veterinary program in the United States.
Key Target Audience
Pet Pharmaceutical Manufacturers, Raw Material Suppliers/ Buyers, Distributors, Research Institutes, Government Body & Associations and End-user