Pet Health Products Market
Overview
A companion or pet animal is an animal kept in the protection, company or entertainment of an individual. Generally dogs and cats are preferred as pets, though house rabbits, parrots, guinea pigs, and fancy rats have also become popular choices. The acceptance of western culture and changing lifestyles in emerging economies such as India and China, has increased the adoption of pet animals, which in turn is supporting the growth of the pet health products market. Pet ownership is largely considered to be status symbols in emerging economies. Cats and dogs are usually adopted by the populace for psychological and therapeutic benefits.
Pets influence social, emotional, and cognitive development in children, promotes dynamic lifestyle, and have even been able to detect presence of certain cancers. As per stats released by American Veterinary Medical Foundation (AVMF), there were 43,346,000 pet dogs and 36,117,000 pet cats in the U.S. in 2012, with mean veterinary spending on these pegged at US$ 378 and US$ 191 respectively per year. This argues favourably for growth of the pet health care products market.
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Zoonotic diseases is of the major problem with pets that are caused by bacteria, germs, viruses, parasites, and fugi. Major diseases and health conditions observed in pet are obesity, heartworm, dental diseases, parvovirus, distemper, rabies, flea and tick borne diseases, arthritis, diabetes, and kidney diseases.
Pet Health Products Market
On the basis of pet type, the global pet health products market is classified into:
- Dog Care
- Cat Care
- Fish Care
- Bird Care
- Others
Pet owners often prefer top food products and novel grooming products, in order to provide the best care for their pet. Such approaches have significantly increased the expenditure limit of pet owners, thereby aiding growth of the pet health products market.
Across North America and Europe, pet humanization is a major trend that considers pet to be a family member due to rapidly changing cultural factors. As a result of this, a favourable environment is created for pet healthcare products market. Moreover, rising disposable income of pet owners and growing trend of nuclear family is expected to boost the market growth in the near future. However, stringent government regulations pertaining pets and rising incidences of allergies from pets are expected to hinder the market growth over the forecast period.
Continuous R&D activities related to animal diseases can provide major growth opportunities in the animal healthcare industry. As preventive drugs are not available in the market, newly diagnosed diseases acts as threat for the owners of animal and animal farms. Under such situations, they have to follow the natural method of stopping the disease from spreading, as suggested by the veterinarians and the animal health boards. One such disease is porcine epidemic diarrhea virus (PEDV) that is caused by corona virus. It leads to infection in the cell lining within the small intestine of pigs.
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Competitive Section
Key players operating in the global pet health products market are Abbott Laboratories, Central Garden & Pet Company, Bayer AG, Embrace Pet Insurance Agency LLC, IDEXX Laboratories Incorporated, Nestlé, Beefeaters Holding Company Incorporated, Colgate-Palmolive Company, Merck & Company Incorporated, Novartis AG, Pfizer Incorporated, Boehringer Ingelheim GmbH, ADER Enterprises Incorporated, Heska Corporation, Sanofi, , Virbac SA, Sergeant’s Pet Care Products Incorporated, Trupanion, Spectrum Brands Holdings Incorporated, Procter & Gamble Company, Hartville Group Incorporated, PBI/Gordon Corporation, Sumitomo Corporation, VCA Antech Incorporated, PetAg Incorporated, Veterinary Pet Insurance Company, and Pethealth Incorporated.
Key Developments
- Major companies in the market are focused on various business strategies such as merger and acquisitions, in order to gain competitive edge in the market. For instance, in August 2019, Elanco Animal Health Incorporated acquired Bayer AG’s animal health business for value around US$ 7.6 billion.
- Key players in the market are involved in various business strategies such as business expansion, in order to gain competitive edge in the market. For instance, in January 2018, Nestle, S.A., a Swiss food and drink processing company, entered into Indian pet market under the brand name ‘Supercoat’ with packaged foods for dogs.
- Major companies in the market are focused on different business strategies such as strategic marketing, in order to gain competitive edge in the market. For instance, in March 2019, Spectrum Brands Holdings Incorporated’s Global Pet Division Care participated in 2019 Global Pet Expo, held in Orlando, U.S. The company showcased its commitment to make top-quality solutions for life pets and highlighted its latest products for pets.
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Table of Contents:
- Research Objective and assumption
o Research Objectives
o Assumptions
o Abbreviations - Market Overview
o Report Description
• Market Definition and Scope
o Executive Summary
• Market Snippet By Product Type
• Market Snippet By Application
• Market Snippet By Technology
• Market Snippet By End User
• Market Snippet By Region
o Coherent Opportunity Map (COM) - Market Dynamics, Regulations, and Trends Analysis
o Market Dynamics
• Drivers
• Restraints
• Market Opportunities
o Technological Trends
o PEST Analysis
o Impact Analysis - Global Pet Health Products Market, By Product Type, 2021 – 2028 (US$ Million)
o Introduction
• Market Share Analysis, 2016 and 2028 (%)
• Y-o-Y Growth Analysis, 2021 – 2028
• Segment Trends
o Reagents & Consumables
• Introduction
• Market Size and Forecast, and Y-o-Y Growth, 2021 – 2028, (US$ Million)
o Software’s
• Introduction
• Market Size and Forecast, and Y-o-Y Growth, 2021 – 2028, (US$ Million)
o Instruments
• Introduction
• Market Size and Forecast, and Y-o-Y Growth, 2021 – 2028, (US$ Million) - Global Pet Health Products Market, By Application, 2021 – 2028 (US$ Million)
o Introduction
• Market Share Analysis, 2016 and 2028 (%)
• Y-o-Y Growth Analysis, 2021 – 2028
• Segment Trends
o Genomics
• Introduction
• Market Size and Forecast, and Y-o-Y Growth, 2021 – 2028, (US$ Million)
o Proteomics
• Introduction
• Market Size and Forecast, and Y-o-Y Growth, 2021 – 2028, (US$ Million)
o Diagnostics
• Introduction
• Market Size and Forecast, and Y-o-Y Growth, 2021 – 2028, (US$ Million)
o Drug Discovery
• Introduction
• Market Size and Forecast, and Y-o-Y Growth, 2021 – 2028, (US$ Million) - Global Pet Health Products Market, By Technology, 2021 – 2028 (US$ Million)
o Introduction
• Market Share Analysis, 2016 and 2028 (%)
• Y-o-Y Growth Analysis, 2021 – 2028
• Segment Trends
o Microarrays
• Introduction
• Market Size and Forecast, and Y-o-Y Growth, 2021 – 2028, (US$ Million)
o Microfluidics
• Introduction
• Market Size and Forecast, and Y-o-Y Growth, 2021 – 2028, (US$ Million) - Global Pet Health Products Market, By End User, 2021 – 2028 (US$ Million)
o Introduction
• Market Share Analysis, 2016 and 2028 (%)
• Y-o-Y Growth Analysis, 2021 – 2028
• Segment Trends
o Hospitals
• Introduction
• Market Size and Forecast, and Y-o-Y Growth, 2021 – 2028, (US$ Million)
o Diagnostic Labs
• Introduction
• Market Size and Forecast, and Y-o-Y Growth, 2021 – 2028, (US$ Million)
o Academic & Research Institutes
• Introduction
• Market Size and Forecast, and Y-o-Y Growth, 2021 – 2028, (US$ Million)
o Biotechnology & Pharmaceutical Companies
• Introduction
• Market Size and Forecast, and Y-o-Y Growth, 2021 – 2028, (US$ Million)
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