Companion Animal Drugs Market - Global Industry Insights, Trends, Outlook, and Analysis, 2017-2025

Companion Animal Drugs Market GLOBAL INDUSTRY INSIGHTS, TRENDS, OUTLOOK, AND OPPORTUNITY ANALYSIS, 20172025

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REPORT DESCRIPTION Companion Animal Drugs Market – Overview Companion animals are domesticated animals which are kept primarily for person’s companionship and enjoyment rather than as a livestock, working animal or laboratory animal. Companion animal include dog, cat, fish, bird, horse, rabbit, hamster, guinea pig, and ferret. According to the National Pet Owners Survey in 2017, conducted by American Pet Products Association (APPA), around 68% of the household owns a companion animal or pet in U.S. Companion animal drug include veterinary and over-the-counter drugs, supplements, nutraceuticals, vaccines, antibiotics and parasiticides, which are used in the treatment of disease associated with digestive system, immunological system, reproductive system, respiratory, and urinary system.

According to the report published by Federal Trade Commission (FTC), in 2015, U.S. spent around US$ 58 billion in 2014 on their companion animals, which include food, veterinary care, prescription, and OTC medications, and other pet services and products. Moreover, U.S. companion animal drugs market is significantly growing in both prescription and non-prescription based medications. Growing rate of companion animal ownership, progressive rate in pet health insurance, and longer life expectancy of companion animals due to the advances in animal health medication, expected to drive the growth of companion animal drugs market in the near future. According to the North American Pet Health Insurance Association (NAPHIA), in 2015, there is an increase of US$ 774 million in overall gross written premium (GWP), accounting to 17.2 percent growth in GWP. In 2015, around 1.6 million pets got secured with health insurance, increasing to 12% from 2014 to 2015. © Coherent market Insights. All Rights Reserved

REPORT DESCRIPTION Companion Animal Drugs Market Taxonomy:

By Product Type: ●

Antibiotics

●

Parasiticides

By Animal Type: ●

Feline

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Canine

●

Equine

By Distribution Channel: ●

Veterinary hospitals

●

Veterinary clinics

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REPORT DESCRIPTION Companion Animal Drugs Market: Key Players ●

Merck Animal Health.

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Zoetis.

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Boehringer Ingelheim GmbH.

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Virbac.

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Ceva Sante Animale.

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Bayer AG.

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Dechra Pharmaceuticals PLC.

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Vetoquinol SA.

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