The rising need for maintaining the health of companion animals is boosting the global companion animal healthcare market says Fortune Business Insights in their new study. The study is titled, “Market Size, Share and Global Trend By Animal Type (Canine, Feline, Equine, Avian, Others), By Product Type (Therapeutics, Diagnostics) and Geography Forecast till 2026.” The report includes growth forecast for the market, besides information on key growth drivers and restraints impacting its trajectory.
Key players leading the global Companion Animal Healthcare Market include
- Intervet Inc. (Merck Animal Health),
- Bayer AG,
- Vetoquinol S.A.,
- Boehringer Ingelheim International GmbH,
- Ceva Santé Animale,
North America to Emerge Dominant on Account of Rapid Penetration of Animal Healthcare Products
Geographically, the global companion animal healthcare Industry is anticipated to be dominated by North America on account of the rapid penetration and adoption of animal feeds, vaccines, diagnostic tests, and drug products required for animal health. On the other side, the market in Europe is anticipated to grow significantly in the forthcoming years. The increasing number of pet owners and rising demand for minimally invasive diagnosis for animal healthcare are anticipated to boost growth of the market in Europe.
Additionally, the surge in prevalence of diseases in animals and government support in the form of awareness programs and necessary healthcare measures for preventing the outbreak of diseases in animals are helping the market for companion animal healthcare gain pace in Latin America and Asia Pacific. Furthermore, the companion animal healthcareIndustry in the Middle East and Africa is also presumed to grow in the coming years.
Strategic Collaborations and Product Launches by Market Vendors Aimed at Gaining Competitive Advantage
With many players operating in the global Industry, the competition is fierce. Most vendors are adopting unique strategies to gain a competitive edge in the market. Such strategies include the launch of new vaccines, testing kits for animal diagnostics, machinery and equipment for animal ultrasound and other techniques.
By Animal Type
By Product Type
- North America (USA and Canada)
- Europe (UK, Germany, France, Italy, Spain, Scandinavia and Rest of Europe)
- Asia Pacific (Japan, China, India, Australia, Southeast Asia and Rest of Asia Pacific)
- Latin America (Brazil, Mexico and Rest of Latin America)
- Middle East & Africa (South Africa, GCC and Rest of Middle East & Africa)