Companion Animals Drug Market Research Study For Forecast 2025, Trends, Public Demand And Woldwide Overview
This report examines the companion animal drugs market for the period 2015–2025. The primary objective of the report is to offer insights into developments in the companion animal drugs market that are significantly transforming global businesses and enterprises.
The companion animal drugs market report begins with defining ‘companion animals’ and the various drug classes used for treating these animals with regard to various ailments. It is followed by an overview of the global companion animal drugs market. The report overview includes FMI analysis of key trends, drivers, restraints, trends and opportunities that are influencing growth of the companion animal drugs market. It also includes an insight into upcoming drug pipeline of various drug makers and market shares of major players, apart from region-specific regulations. Impact analyses of key growth drivers and restraints based on a weighted average model have been included in the companion animal drugs market report to better equip customers and readers with region specific trends and insights.
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The primary driving factors for companion animal drugs are rising levels of pet adoption and increasing awareness on animal welfare, including their health and well-being. These have increased demand for pet care services and products including medicines globally. Apart from the above factor, growing market consolidation in the animal healthcare market leads to better focus on companion animal drug making by major drug manufacturers such as Zoetis, Merial and Elanco. The primary factor hampering growth of the companion animal drug market is rising cost for drugs R&D, driven by rising overhead costs and raw material costs.
The global companion animal drugs market is segmented on the basis of product types into antibiotics, anti-inflammatory drugs, parasiticides (further sub-segmented into ecto-parasiticides and endo-parasiticides), heartworm drugs, nutritional, behavioural and skincare drugs and vaccines. A detailed analysis has been provided for every segment and sub-segment in terms of market size, Y-o-Y growth rate, absolute $ opportunity and BPS analysis.
The report has been segmented based on various drug distribution channels such as veterinary hospitals, veterinary clinics and pharmacies and drug stores, mostly retail in nature. Our analysis predicts that veterinary clinics is the easiest and most preferred channel for drug distribution globally. Ease of establishment, lower cost of infrastructure, availability of veterinarians and wide coverage of drugs are factors promoting increasing number of veterinary clinic set-ups across the world.
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The next section of the report highlights companion animal drugs adoption by region. It provides a market outlook for 2015–2025 and sets the forecast within the context of the companion animal drugs market. The study discusses key regional trends contributing to growth of the companion animal drugs market worldwide, as well as analyses the extent to which drivers are influencing this market in each region. Key regions assessed in this report include North America, Latin America, Western Europe, Eastern Europe, Asia Pacific Excluding Japan (APEJ), Japan and Middle East & Africa.
The above sections – by product type, distribution channel and region – evaluate the present scenario and growth prospects of the companion animal drugs market for the period 2015 –2025. We have considered 2014 as the base year and provide data for the forecast period, i.e. 2015–2015.
To ascertain companion animal drugs market size, we have also considered revenue generated by drug manufacturers. The forecast presented here assesses the total revenue by value across the companion animal drugs market. In order to offer an accurate forecast, we started by sizing the current market, which forms the basis of how the companion animal drugs market is expected to develop in the future. Given the characteristics of the market, we triangulated the outcome of three different types of analysis, based on supply side, downstream industry demand and the economic envelope.
In addition, it is imperative to note that in an ever-fluctuating global economy, we not only conduct forecasts in terms of CAGR, but also analyse based on key parameters such as year-on-year (Y-o-Y) growth rates to understand the predictability of the market and to identify the right opportunities across the companion animal drugs market.