April 4, 2020

Companion Animal Health Market | Players are Zoetis, Jaguar Health, Elanco, Bayer AG, Merck & Co.,etc

According to a new market report issued by Credence Research, Inc., “the Global Companion animal health market is expected to grow by 6.0% CAGR during the forecast period from 2019 to 2027.”

Key questions answered in this report

  • What was the market size of the companion animal health market in 2018 and forecast up to 2027?
  • What are the key factors driving the global companion animal health market?
  • What are the key market trends and high-growth opportunities observed in the companion animal health market?
  • What are the drivers of the companion animal health market?
  • Which is the largest regional market for companion animal health market?
  • Which segment will grow at a faster pace? Why?
  • Which region will drive the market growth? Why?
  • Which players are leading companion animal health market?
  • What are the sustainability strategies adopted by the key players operating in the market?

Credence Research is providing Free Sample Get it here: https://www.credenceresearch.com/sample-request/60046

Product Insights

The global companion animal health market is projected at US$ 14.5 billion in 2018 and is projected to grow at a CAGR of 6.0 per cent during the forecast period from 2019 to 2027. The pet adoption industry is booming as pet owners are increasing day by day, increasing the demand for pet care products. According to the statistics provided by the American Pet Products Association in March 2019, pet care spending has increased by $3 billion. Reporting to $72.6 billion in 2018 compared to $69.6 billion in 2017. In addition, spending on pet food holds a major stake in the pet care industry, with veterinary care being the second-largest source of spending in the pet care segment.

Manufacturers are developing products using innovative technologies that contribute to the growth of the market. For example, Sure Petcare launched a digital pet feeder in July 2019. SureFeed is a pet feeder for microchip. SureFeed is monitoring the animal’s feeding habits. Hereby, providing real updates to the mobile owner. In addition, increasing awareness among people created by organizations such as PETA about animal health and safety is increasing the demand for companion animal health markets.

Browse Full Report Originally Published by Credence Research at: https://www.credenceresearch.com/report/companion-animal-health-market

The market for companion animal health is segmented on the basis of animal type, products and services, vertical end-use and geography. Based on the animal type, dogs led the market in 2018 and are likely to dominate the market during the forecast period from 2019 to 2027. The adoption of more and more dogs is creating demand for more dog health care products, such as feed additives, vaccines and more. Furthermore, based on geography, North America dominated the companion animal health market in 2018. The region is expected to continue its rule during the forecast period from 2019 to 2027. In North America, the United States dominates the market for companion animal health. Top manufacturers such as Zoetis, Merck and Co. and others dominate the U.S. market, generating maximum revenue share in the North American region.

Competitive Insights:

Major players in the companion animal health market include Zoetis, Jaguar Health, Elanco, Bayer AG, Merck & Co., Ceva, Boehringer Ingelheim International GmbH, Virbac, Vetoquinol S.A, Inc., Conklin Company Inc. and Nestle Purina Petcare among others. The major players are focusing on taking up strategies such as partnerships, product innovation, etc. to withstand and sustain in the market. For instance, in November 2019, Merck & Co. announced approval for Bravecto Plus by the U.S. Food and Drug Administration (FDA). Bravecto Plus is a topical solution for cats. Bravecto Plus eliminates the chances of parasites, ticks and fleas in cats both internally and externally.

Credence Research is providing Free Sample Get it here: https://www.credenceresearch.com/sample-request/60046

MarketWatch: Companion Animal Health Market (6.0% CAGR) 2019-2027: Global Business Growth, Size and Forecast

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