November 28, 2021

Global Pet Pharmaceuticals Market Research Report 2021: Infectious Diseases, Antibiotics, Parasiticides, Vaccines, Pain – Forecast to 2026 – ResearchAndMarkets.com

DUBLIN – (COMMERCIAL THREAD) – The “world market for pharmaceutical products for pets by indication (infectious diseases, antibiotics, parasiticides, vaccines, pain), type of animal (dogs, cats, horses), distribution channel (hospitals and veterinary clinics) , region and COVID-19 The Impact report – Forecast to 2026 “has been added to ResearchAndMarkets.com offer.

Global Pet Pharmaceuticals Market Expected to Reach $ 18.5 Billion by 2026, from $ 12.8 Billion in 2021, with a CAGR of 7.6%

Pets play an important role in the lives of many people, providing a sense of belonging and responsibility. Animal health products, especially pharmaceuticals, are the most widely used products for animal health. They make a significant contribution to the health and welfare of animals.

Pet ownership and spending has seen a significant increase over the years. Pet owners are spending more per pet than ever. The growing number of people with pets, the focus on animal health and vaccination, the growing demand for animal health products, the growing number of veterinarians and their increasing income levels in developed economies, the prevalence Growing zoonotic diseases, growth in adoption of pets, increasing prevalence of animal diseases and increasing demand for pet insurance are some of the factors driving the growth of these markets.

However, the limited number of new antibiotics, increasing costs of pet care, increasing resistance to antimicrobials and antibiotics, and increasing vaccine storage costs are holding back the growth of this market to some extent.

Dermatologic Disease Segment is Expected to Grow at the Highest CAGR in the Pet Pharmaceuticals Market, During the Forecast Period

Based on the prescription of pharmaceuticals for a number of disorders prevalent in animals, the pet pharmaceutical market is segmented into infectious diseases, dermatological diseases, orthopedic diseases, pain, behavioral disorders, and other indications.

The dermatological disease segment is expected to grow at the highest CAGR during the forecast period. The increasing prevalence of arthritis, the growing need for advanced orthopedic medications, and the growing companion animal population are some of the key factors driving the growth of this segment.

Dogs segment holds the largest share in the animal types segment, during the forecast period

Based on the type of animal, the pet pharmaceutical market is segmented into dogs, cats, horses, and other pets. The dog segment accounted for the largest market share in 2020.

The significant share of this segment is attributed to the increase in dog population and possession rate, the increasing prevalence of zoonotic diseases and other skin allergies in dogs, the increase in canine health spending and the growing number. from pet insurers around the world.

Veterinary Hospitals Expected To Grow At The Highest CAGR In The Pet Pharmaceuticals Market By Distribution Channel Segment During The Forecast Period

On the basis of distribution channel, the global pet pharmaceutical market is segmented into veterinary hospitals, veterinary clinics, and retail pharmacies. The veterinary hospital segment is expected to grow at the highest CAGR during the forecast period.

Increased adoption of pest control and antibiotics for animals in hospitals, increasing incidence of infectious diseases, increasing number of veterinary hospitals, increasing pet ownership, increasing expenses veterinarians and the growing awareness of animal health in developing countries, are some of the key factors driving the growth of this segment.

North America Hold Largest Pet Pharmaceuticals Market Share, By Region, During Forecast Period

In 2020, North America accounted for the largest share of the pet pharmaceutical market, followed by Europe, Asia-Pacific, Latin America, Middle East and Africa.

North America’s large share can be attributed to the well-established base of animal health industries, high adoption of companion animals, increasing incidence of parasitic infections, large number of hospitals and clinics, to the growing pool of veterinarians and growing animal health spending in the region.

The increasing number of research activities and fundraising and awareness campaigns in the field of veterinary health management is also expected to drive the growth of this market.

Premium previews

  • Increased Pet Population to Drive Market Growth

  • The infectious disease segment accounted for the largest share of the European market in 2020

  • China To Record Highest Growth During Forecast Period

  • North America will continue to dominate the pet pharmaceutical market during the forecast period

  • Developing markets will register higher growth rate during the forecast period

Market dynamics

Market factors

  • Growing prevalence of zoonotic diseases

  • Growing Demand for Pet Insurance with Growing Animal Health Spending

  • Growing investments from key players

  • Initiatives by various government agencies and animal associations

  • Growth in pet ownership rates

Market constraints

  • Rising Pet Care Costs

  • Limited number of new product developments

  • High cost of vaccine storage

Market opportunities

  • Lucrative growth opportunities in emerging markets

  • Growing prevalence of animal diseases

  • Technological advances in vaccine manufacturing

Market challenges

  • Stringent regulatory approval process for drugs

  • Inadequate vaccine surveillance and reporting systems

  • Diversity of parasite species

Companies mentioned

  • Ashish Life Science Pvt. Ltd.

  • Boehringer Ingelheim GmbH

  • Ceva Animal Health

  • Chanel Pharma

  • Dechra Pharmaceuticals plc

  • Eco Animal Health Group plc

  • Elanco Animal Health Incorporated

  • Endovac Animal Health

  • Hipra

  • Indian Immunologicals Ltd.

  • Inovet

  • Kyoritsu Seiyaku

  • Lutim Pharma Pvt. Ltd.

  • Merck & Co. Inc.

  • Norbrook Holdings Limited

  • Tianjin Ringpu Bio-Technology Co. Ltd.

  • Vétoquinol SA

  • Virbac

  • Zoetis Inc.

  • Zydus Animal Health and Investments Limited

For more information on this report, visit https://www.researchandmarkets.com/r/t4c9lk


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