Pet Medications Market Size & Share to Show Highest Growth During Forecast Period 2020-2030

Market Overview

‘'Pet Medication," are the medications that help companion animals and farm animals to prevent and treat diseases, as well as improve and lengthen their lives. Parasiticides, vaccinations, anti-infectives, medicinal feed additives, and other items are among them. The worldwide pet medicine market is expected to rise, owing to the rising trend of pet humanization and the subsequent commercialization of a wide range of pet care products, as well as a growing focus on safe food and a corresponding emphasis on breeding healthy livestock. The expanding tendency of nuclear families and rising disposable income of pet owners in the medium income group are the primary critical causes for the growth of the pet care industry in the next years.

Pet Medications Market: Key Players

• Zoetis

Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis

• Merck
• Merial
• Elanco
• Bayer
• Boehringer
• Novartis
• Virbac
• Ceva
• Vetoquinol
• Nexvet
• Aratana Therapeutics
• Kindred Biosciences

Growth Factor

Increasing Pet adoption

Pet adoption is on the rise, and there is a significant demand for pet items, which is propelling the worldwide pet medicines market forward. Weight management, obesity-related illnesses such as diabetes and joint pain, immunological response, heart health, and cognitive support, as well as anti-inflammation and pain management medications, are all needed for an increasing number of aged dogs and cats.

Growing pet parent awareness of the health and well-being of their pets

The COVID-19 pandemic's emphasis on health protection, as well as the resulting shift to stay-at-home lifestyles, raised pet parent awareness of their pets' health and well-being. Despite early failures and hurdles, the veterinary industry—which accounts for 72 percent of global prescription and over-the-counter pet pharmaceutical sales, according to Packaged Facts—managed to close the year with stronger-than-average growth.

Segmentation

• By Product Type
  • Antibiotics
  • Antimicrobials
  • Antiparasitics
  • Chemotherapeutics
• By Application
  • Cat
  • Dog
  • Horse
  • Fish
  • Other
• Pet Medications Market Dynamics
• Pet Medications Market Size
• Supply & Demand
• Current Trends/Issues/Challenges
• Competition & Companies Involved in the Market
• Value Chain of the Market
• Market Drivers and Restraints

Recent News Related to Market

1. In 2019, Dogs, cats, birds, and fish and reptiles are the most popular OTC pet medications, accounting for over 87 percent of the overall OTC pet drug market share.
2. In July 2018, Zoetis bought Abaxis, a pioneer in veterinary point-of-care diagnostic tools. This allowed Zoetis to broaden its product offering.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

• COVID-19 pre and post business impact analysis
• Detailed overview of the parent market
• Changing market dynamics in the industry
• In-depth market segmentation
• What is the Pet Medications Market growth?
• Which segment accounted for the largest Pet Medications Market share?
• Who are the key players in the Pet Medications Market?
• Historical, current and projected market size in terms of volume and value
• Recent industry trends and developments
• Competitive landscape
• Strategies of key players and products offered
• Potential and niche segments, geographical regions exhibiting promising growth
• A neutral perspective on market performance
• Must-have information for market players to sustain and enhance their market footprint

Note: Although care has been taken to maintain the highest levels of accuracy in Fatpos Global’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.