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.
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)
Rising Concern Regarding Health and Well-being of Pets Creates Lucrative Growth Prospects
The increasing prevalence of animal diseases is a major factor driving the global companion animal healthcare market. Besides this, increasing construction of healthcare centers for animals and the rising number of veterinary practitioners are boosting the market. In addition, the development and availability of animal healthcare products such as animal feeds, oral chews, and others is anticipated to boost the market in the future. Furthermore, continuous efforts by market vendors in terms of strategic collaborations, product launches, and other growth strategies are prognosticated to help the global market gain traction in the coming years.
On the flip side, the market for companion animal healthcare may face certain challenges in terms of high production and maintenance costs of the equipment along with concerns arising due to product recall.
Strategic Collaborations and Product Launches by Market Vendors Aimed at Gaining Competitive Advantage
With many players operating in the global companion animal healthcare 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.
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,
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