Increasing Pet Owners and Trend of Nuclear Family to Drive U.S. Pet Medication Market
A new report by Transparency Market Research considers a futuristic approach to study the U.S. pet medication market. As per the report, the number of pet owners is increasing in the United States. The concept of nuclear family is spreading rapidly in the U.S., which is a vital factor boosting the ownership of pets. Pet owners in the U.S. are readily spending on pet medication and grooming products. Increasing disposable income has allowed pet owners to spend more on innovative products, medication, and healthcare for the pets. However, pet owners are consistently facing pet health issues and allergies, which is another vital factor driving the demand for pet medication.
The report, titled “U.S. Pet Medication Market – U.S. Industry Analysis, Size, Share, Growth, Trends and Forecast 2016 – 2023,” states that the U.S. pet medication market is set for a rapid growth throughout the forecast period due to the rising spending of companies on the discovery of new pet drugs. The liking towards pets and the availability of pet medicines have boosted people to own pets. However, strict rules and regulations from the U.S. government are expected to restrict the ownership of pets, which is likely to hamper the market for pet medication.
The report highlights the changing trends in the pet medication market in the United States. As per the findings of the report, from preventive care to diagnosis of the disease, treatment of the injury, and operations, pet medication has gone a long way. Thanks to the advancements in the medical equipment and the availability of medicines, pet diseases of any kind can be cured.
Trend of Pets Medication in America: http://bit.ly/2cUeFsH
Regulatory authorities and manufacturers of pet medicines are taking efforts to introduce new medicines in the United States. In the U.S., the manufacturing and distribution of medicines and drugs for animals is regulated by the United States federal agency. Veterinary prescription medicines are considered for use by only the licensed veterinarians. The rising number of local or non-licensed veterinary doctors is expected to be a threat for the pet medication market in the United States.
The U.S. pet medication market is segmented on the basis of type of medication, pet type, and type of disease. By type of disease, the pet medication market in the U.S. is classified into heart health, parasite prevention and control, cancer, behavioral health, and pain management. Currently, the parasite prevention and control segment dominates the U.S. pet medication market.
Bayer Animal Health, Ceva Sante Animale, Elanco, Merck Animal Health, Boehringer Ingelheim Vetmedica, Novartis Animal Health, Merial, and Zoetis are some of the companies participating in the U.S. pet medication market. Key companies are focusing on introducing new pet medicines to cure various types of diseases.