(PharmaNewsWire.Com, May 26, 2017 ) Asia-Pacific Companion Animal Healthcare Market research report, published by Market Data Forecast estimates that the market is growing at a CAGR of 6.30% to reach USD 2.76 billion by 2021, from USD 2.04 billion in 2016, which amounts to a cumulative growth of USD 0.72 billion. Companion animals are playing an important role in lives of many people. They provide a sense of responsibility and companionship, need care and attention and respond to them with affection.
To give a deeper idea, animal companion therapy has many merits such as greater psychological stability, decreased anxiety and reduction in cardiac arrhythmias, due to which it is enhancing a few areas of human health care. Therefore, the relationship between companion animals and people is becoming strong thereby, increasing the demand of products including pharmaceuticals and vaccines which contribute to well-being and improving health care of humans and animals. The Global companion animal healthcare market is concentrated in USA and Europe and most of the industrialized nations are spending a huge part of their GDP on healthcare necessities.
The report also presents detailed analysis of multitude of factors affecting the diagnostic imaging market bearing either positive or negative outcomes. Some of those factors are • Rapidly increasing population of livestock, • Rising awareness of animal health care, • Increasing demand for products derived from animals, • Rising density of animal disease outbreaks, • Increasing vaccines cost of animal storage, • Shifting to pure vegetarian diets.
For granular level understanding the Companion Animal Healthcare Market is segmented based on product type which is being provided with Market Size Estimations and Y-o-Y Forecasts. Based on Product Type the market is segmented into Feed additives (Nutritional feed additives (Proteins, minerals, amino acids, and vitamins) and Medicinal feed additives (enzymes, probiotics, hormones, immune modulators, prebiotics, and feed acidifiers)), Pharmaceuticals (ectoparasiticides, endectocides, antibiotics and anti-inflammatories) and vaccines.
India and China are the major economies which have unexplored customer base covered in the study. The report also focuses on other regions like Japan, Australia, South Korea and Rest of Asia-Pacific. China is expected to possess the major chunk of the market and is estimated to be the fastest growing in terms of CAGR.
Some of the key players that operate in the Asia-Pacific Companion Animal Healthcare market include Pfizer Animal health Ltd, Merck & Co Inc., Sanofi Aventis Animal Health, Zoetis Inc., Boehringer Ingelheim GmbH and Elanco Products Company. Due to improving healthcare necessities and rising demand for companion animals there is an increase in the competition among key players.
The Asia- Pacific Companion Animal Healthcare report offers wide-range of scope:
• Regional and country-level analysis that provides an individual perspective of Asia-Pacific region and the aforementioned countries
• Know more about key areas of industry growth via detailed Segment-level analysis on basis of product type, along with market size forecasts and y-o-y estimations
• Detailed explanation of major drivers, restraints, opportunities, and challenges (DROC) that affect the market and impact the ever-shifting market dynamics
• Strategic Analyses containing PESTLE and Porter’s Five Forces Analyses which are obtained by studying the macro & micro environmental factors that affect the market demographics
• Comprehensive listing of key market players along with Company overview, product portfolios, financials (subjected to availability), SWOT analysis and analyst overview
• Competitive landscape analysis listing out the mergers, acquisitions, collaborations in the field along with new product launches, comparative financial studies and recent developments in the market by the major companies
• Market Outlook - Investment opportunities devised by stand in experts to provide both individuals and organizations a strong financial foothold in the market
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