The report covers detailed market segmentation including each and every facet of the entire companion animal specialty drugs market across the important regions of Asia Pacific excluding Japan (APEJ), Western Europe, North America, Eastern Europe, Latin America, Middle East and Africa, and Japan.
Albany, NY -- (SBWIRE) -- 09/19/2017 -- The in-depth market research report titled "Companion Animal Drugs Market: Global Industry Analysis and Opportunity Assessment 2017-2027," recently added to the library of Market Research Report Search Engine (MRRSE) reflects all major factors influencing the global companion animal specialty drugs market along with market estimations from 2012-2016 and the changing dynamics with market projections from 2017-2027. The forecasts included in this research report can be used to devise essential strategies that can facilitate development and help market players gain edge over the competition. The research study also reflects key developments, SWOT analysis, trends, challenges, growth propellers, opportunities and restraints that impact the global companion animal specialty drugs market in the coming years. The report covers detailed market segmentation including each and every facet of the entire companion animal specialty drugs market across the important regions of Asia Pacific excluding Japan (APEJ), Western Europe, North America, Eastern Europe, Latin America, Middle East and Africa, and Japan.
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Global Companion Animal Specialty Drugs Market: Segmental Analysis
The global companion animal specialty drugs market has been segmented by product type, distribution channel and by region. By distribution channel, the largest segment is veterinary clinics that is estimated to hold a share of about 40% in 2017. This segment is poised to be valued at over US$ 21 Bn by the end of 2027, with a high market share of around 45%. The veterinary clinics segment is expected to grow at a significant growth rate to reflect a steady CAGR of 5.8% throughout the period of assessment 2017-2027. The veterinary clinics segment is poised to dominate the global companion animal specialty drugs market by distribution channel in terms of revenue share. With increasing urbanization, there has been rising prevalence of various allergies and diseases, lower appetite, decrease in energy levels etc., among pets. This has driven higher demand for veterinary clinics and hence the growth of the segment in the global companion animal specialty drugs market.
Global Companion Animal Specialty Drugs Market: Performance of the Veterinary Clinics Segment Across Key Regions
The veterinary clinics segment is expected to dominate the companion animal specialty drugs market in the Western Europe region during the period 2017-2027. In this region, it has higher market attractiveness. In North America, the veterinary clinics segment is poised to grow at a CAGR of 3.3% by value. Asia Pacific excluding Japan (APEJ) region is anticipated to show high potential and growth in the veterinary clinics segment. It is expected to reflect a CAGR of 6.5% over the assessment period.
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Global Companion Animal Specialty Drugs Market: Dynamics Impacting Global Market Growth
The global companion animal specialty drugs market is impacted by various elements. The main aspect influencing the global companion animal specialty drugs market is the increasing obesity in pets, which is boosting the growth of veterinary clinics, which indirectly contributes to the growth of the global companion animal specialty drugs market. Many people prefer veterinary clinics for their pets in order to collect prescription drugs. Considering the global market, clinics and hospitals represent almost 80% of the distribution channel for drugs. The rising obesity in pets has made them extremely vulnerable to various diseases and this factor hence drives the demand for veterinary clinics. Another aspect that drives the veterinary clinics segment is the rising urbanization and acceptance of pets/animals as companions on a worldwide basis. This initiates preventive treatments, medicines and adequate hygiene for companion pets.
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