In the year 2018, The Global Companion Animal Health Care Market was valued at USD XXX Billion. By the year 2023, it is predicted to reach USD XXX Billion with pace of 11.52% CAGR. In the past few years animal adaption is increased eventually and it is estimated to be in increasing trend in future. However, Animals are prone to some mild and severe health complexities. Growth in animal health concerns is supporting the market.
Growing number animal adaptions and pet health care concerns are estimated to drive the market.
Factors affecting market growth:
- Growing cases of zoonotic and food-borne diseases will be a potential concern for the health of pet animals. (+)
- Growing trend of Brucellosis that causes abortion in animals. (+)
- Growing pet/companion ownership. (+)
- Rising health care concerns of pets. (+)
- Increasing demand for improved nutrition. (+)
- Restrictions by governmental regulatory bodies. (-)
North America leads the Global Companion Animal Health Care Market
Companion Animal Health Care Market is segmented on the basis of geography
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
North America region is estimated to be the major contributor of the market. due to increased animal nutrition expenditure and healthcare. In addition, Asia Pacific region is estimated to be the fastest growing region with highest CAGR in forecasted years.
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The major shareholders of the Global Companion Animal Health Care Market include Vetoquinol SA., Ceva Sante Animale, Virbac SA, Novartis Animal Health Inc., Bayer AG, Elanco Products Company, Boehringer Ingelheim GmbH, Zoetis Inc., Sanofi Aventis Animal Health, Merck & Co Inc., and Pfizer Animal health Ltd.
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