Companion Animal Health Market Market Size, Share and Growth Analysis to 2026

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Companion Animal Health Market Future Trends,
Demands, Opportunities and Forecast 2026 The
world of pet care has been on a continuous
transformation and pet parents have come a long
way from taking their companion animals to
regular check-ups and vaccinations to getting
them fancy diet food and wearables.
Companion animal health has thus been
garnering a lot of attention worldwide. With
rising pet population, and expanding pet culture,
global companion animal health market is expected
to witness a healthy growth outlook in future. A
new Fairfield Market Research study states that
the market for companion animal health will
exhibit notable progress in long term, with
the rate of pet ownership seeing a marked
rise. Favourable government initiatives taken
toward raising the awareness about animal
health and welfare will further catalyse market
growth, says the report. However, some of the
longstanding challenges prevail as the key
barriers to rapid market growth, including
high diagnostic costs, expensive surgical
treatments, frequently recorded instances of pet
product recalls, and the negligibly low rate of
pet insurance. Get a Sample Copy of Companion
Animal Health Market https//www.fairfieldmarketr
esearch.com/report/companion-animal-health-
market/request-sample Nutritional Supplements
Sought-after, Vaccines Remain in Demand As the
nutrition intake continues to be a prime area of
concern among pet owners, businesses in industry
are compelled to pay greater heed to introducing
functional food options in the pet food category.
Dietary supplements, and nutritional feed
additives are thus likely to remain the most
in-demand product segments in companion
animal health market. Given the growing
prevalence of the various diseases among
companion animals, the report also foresees
an upsurge in demand for medicinal feed
additives. Vaccines will continue to be the most
sought-after category among therapeutics. E-comme
rce Expansion Instrumental to Market
Growth Evolving consumer lifestyles have been
allowing individuals to own a pet or two,
and generously spend on them. Pet health, food,
grooming, accessories, and entertainment have
thus been gaining stronger ground across
local markets. The e-commerce expansion has
however transformed the conventional shopping
ways for consumers, adding value to
companion animal health market. Globally leading
brands in online pet supplies like Petco,
Petsmart, and Chewy, and the worlds biggest
online retailers like Amazon, and Walmart
continue to enjoy exceptional profits through
proliferating online demand. E-pharmacies like
VetRXDirect, and 1-800-PetMeds are also
benefiting from the trend of purchasing pet
medicines online. Market in Asia Pacific
Reflects Higher Growth Potential Petpedias
findings indicate that the US pet industry
reached a whopping US99 Bn in 2020.
With the worlds largest pet industry,
North Americas lead in companion animal
health
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market prevails. Research suggests that the
European market will also be crucial in terms of
revenue generation as the key European nations
continue to witness escalating pet adoption, and
growing awareness and spending on pet care
leveraging the government tax relief.
Ascending demand for a wide range of
veterinary services over the recent past is
further expected to work in favour of companion
animal health market in Europe. On the other
hand, the flourishing pet culture across
fast-developing Asian nations is likely to push
prospects of companion animal health market in
Asia Pacific. The consistently rising rate of pet
adoption, and soaring awareness among pet parents
about pet care are collectively expected to shape
the market here. Pet supply companies, and
pet healthcare providers are projected
to discover ample opportunities in the
most lucrative Asian markets, i.e., China,
India, and Indonesia. While Indian market will
particularly gain from its remarkable dairy
production, initial findings also indicate
higher attractiveness of Japan, and
Australia as they represent a favourable
social culture, and complementary spending
patterns for the development of companion
animal health market. Government initiatives
around the public education and awareness
about adoption and healthcare of pets and other
companion animals is likely to be instrumental to
companion animal health market in Asia
Pacific. Growing awareness regarding zoonotic
disease risks, vaccination, and companion
animal health surveillance is also expected
to elevate growth prospects of companion animal
health market. Global Companion Animal Health
Market Competition Bayer AG, Merck Co,
Zoetis, Ceva Sante Animale, Agrolabo S.p.A,
Nutreco N.V. Inc, Virbac, Elanco Animal Health
Incorporated, IDEXX Laboratories Inc, Perrigo
Company Plc., DRE Veterinary, and C.H.
Boehringer Sohn AG Co. KG constitute
some of the major competitors in global
companion animal health market. For More
Information of Companion Animal Health Market
Visit https//www.fairfieldmarketresearch.com/rep
ort/companion-animal-health-market About
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