Companion Animal Specialty Drugs Market is predicted to value USD 48186.9 million by 2028 end with a CAGR of 4.2% during the forecast period 2022 to 2028.

Increased developments in advanced biologics technologies like recombinant DNA vaccines is the primary factor responsible for the growth of the market. A companion animal is primarily referred to a dog or a cat or those who are domesticated near the household of the person caring for them. Rising awareness regarding animal healthcare in developed as well as developing countries along with the increased demand for compounded drugs shall boost the companion animal specialty drugs market growth. DNA vaccines used for dogs are predicted to increase the demand for veterinary vaccine specialities. The recombinant vaccines offer novel protection to petting animals. Such factors are responsible for the growth of the market. 

As per a survey performed in 2012, over 40% of children aged five years were reported to look for their pets when they felt sad or happy. Furthermore, as per the survey conducted by the Animal Pet Products Association in 2012, over 60% of householders in the United States own single or multiple companion animals. Advantages of owing a companion animal, increased urbanization and rising number of nuclear families are some of the reasons responsible for the proliferation of the market.

Market Segmentation:

By Product Type 
•    Vaccines
•    Anti-Inflammatory Drugs
•    Animal Feed Additives
•    Antibiotics
•    Skin Care Products 
•    Parasiticides
•    Others
By Distribution Channel
•    Veterinary Clinics    
•    Hospital Pharmacies
•    Drug Stores    
By Region
•    North America
•    Europe
•    Asia-Pacific
•    Latin America
•    Middle East and Africa

The market is classified into distribution channel, product type and region. The product type segment is fragmented into vaccines, anti-inflammatory drugs, animal feed additives, antibiotics, skin care products, skin care products, parasiticides and others.  The distribution channel segment is categorised into veterinary clinics, hospital pharmacies and drug stores. The veterinary clinics segment is predicted to account the largest companion animal specialty drugs market share during the forecast period.

Regional Analysis:

The North America region is estimated to lead the market during the forecasted timeframe, and this can be credited to the increased number of companion animal ownerships in households of the United States. Furthermore, with people living a stressful lifestyle in developed nations like the US, owing a pet provides the necessary emotional support which has bolstered the market growth in the region.

Competitive Landscape:                            

Some of the prominent market players are Zoetis Inc., Merck & Co., Inc., Bayer AG, Elanco (a division of Eli Lilly & Company), Boehringer Ingelheim Animal Health Gmbh, Ceva Sante Animale S.A., Aratana Therapeutics, Merial, The J.M Smucker Company, Mars, Beaphar.

FutureWise Key Takeaways:

•    Growth prospects
•    SWOT analysis 
•    Key market trends 
•    Key data-points affecting market growth

Objectives of the Study:

•    To provide with an exhaustive analysis on the global companion animal specialty drugs market by product type, by distribution channel and by region
•    To cater comprehensive information on factors impacting market growth (drivers, restraints, opportunities, and industry-specific restraints)
•    To evaluate and forecast micro-markets and the overall market 
•    To predict the market size, in key regions (along with countries)— North America, Europe, Asia Pacific, Latin America and Middle East and Africa
•    To record, evaluate and analyze competitive landscape mapping- product launches, technological advancements, mergers and expansions   

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