New York, According to a new market research report published by Global Insight Services “Companion Animal Health Market is expected to reach US$ XX bn by 2031”. Report includes in-depth segmentation and market size data by categories, product types, applications, and geographies. Report also includes comprehensive analysis of key issues, trends and drivers, restraints and challenges, competitive landscape, as well as recent events such as M&A activities in the market.
Companion animal health is the study of the health and welfare of companion animals, such as dogs, cats, and rabbits. It includes the prevention, diagnosis, and treatment of diseases and other health problems. Companion animal health also includes the promotion of animal welfare and the prevention of animal cruelty.
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Key Players
The key players in the Companion Animal Health Market are Merck Animal Health, Ceva Santé Animale, Vetiquinol S.A, Boehringer Ingelheim GmbH, Elanco, Bayer AG, Dechra Pharmaceuticals, Zoetis, Norbrook Inc., and Virbac, Inc.
Key Trends
There are several key trends in companion animal health technology. One is the development of more sophisticated and specific diagnostic tests. This means that veterinarians can more accurately identify health problems and target treatments more effectively. Another trend is the use of more sophisticated treatments, such as stem cell therapy and regenerative medicine. This is providing new hope for animals with serious health conditions. Finally, there is a trend towards the use of more natural and holistic approaches to health care. This includes the use of acupuncture, herbal medicine and other alternative therapies.
Key Drivers
There are several key drivers of the Companion Animal Health market. The first is the increasing humanization of pets. This trend has led to a greater focus on the health and well-being of companion animals, as well as a willingness to spend more on their care. In addition, the aging of the baby boomer generation is leading to an increase in the number of older pet owners, who are more likely to seek medical care for their animals. Finally, the rise of the internet and social media has created a more informed and engaged pet-owning public, who are more likely to seek out quality care for their animals.
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Market Segmentation
The market is segmented by animal type, product, end-use and region. By animal type, the market is divided into dogs and cats. By product type, the market is bifurcated into pharmaceuticals and diagnostics. By end-use, the market is classified int0 PoC/in-house testing, veterinary hospitals & clinics and others. By region, the market is segmented into North America, Europe, Asia-Pacific and rest of the world.
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