Pet Speciality Drugs Market Size and Forecasts (2021 - 2031), Global and Regional Share, Trends, and Growth Opportunity Analysis

Coverage: Pet Speciality Drugs Market covers analysis By Type (Antibiotics, Anti-inflammatory Drugs, Vaccines, Others); Application (Dogs, Cats, Others); End User (Veterinary Hospitals, Veterinary Clinics, Others) , and Geography (North America, Europe, Asia Pacific, and South and Central America)

Publication Month : Mar 2024

  • Report Code : TIPRE00018835
  • Category : Pharmaceuticals
  • Status : Upcoming
  • No. of Pages : 150
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MARKET INTRODUCTION

A pet animal primarily refers to cats and dogs, which are domesticated and usually maintained in or near the household of the owner or person caring for them. Pet or companion animals do not refer to a farm animal or grazing animals such as cattle and sheep. Pet owners consider their companion animals as a member of the family. They care a lot about their pets' wellbeing and hence look for good healthcare products to ensure proper health for their animal counterparts.

MARKET DYNAMICS

The pet specialty drugs market has shown a significant evolution over the forecast period. The rise of the pet specialty drugs market is majorly driven by the increasing pet ownership and awareness related to pet diseases or pet health. Pet ownership has been increasing globally, primarily driven by lifestyle changes, increased disposable income, and more people who want pets as companions. Dermatitis, flea allergy, and Lyme disease are common types of diseases transmitted by fleas & ticks. The other common health issue found among pets is arthritis. The pet specialty drugs market is primarily driven by flea & tick and pain relief & arthritis products. Moreover, new product developments and technological advancements are fuelling the market growth. For instance, in 2020, Zoetis Inc. expanded its animal vaccines research and manufacturing in Suzhou, China. The company focuses on the development and manufacturing of vaccines and supplements for pet. The company is also planning to expand its physical presence by establishing new manufacturing and distribution centers in east China. However, the high cost associated with animal drugs is impeding the market growth.

MARKET SCOPE

The "Pet Specialty Drugs Market Analysis to 2028" is a specialized and in-depth study of the healthcare industry's pharmaceuticals, focusing on the global market trend analysis. This report outlines the pet specialty drugs market with detailed market segmentation by type, application, and end-user. The pet specialty drugs market is estimated to witness a high rise during the forecast period. It focuses on the vital statistics on the leading players' market status in the pet specialty drugs market and provides key opportunities and trends in the market.

MARKET SEGMENTATION

The market is categorized based on the type, application, and end user. Based on the type, the market is segmented as antibiotics, anti-inflammatory drugs, vaccines, and others. Based on the application, the segmentation of the market is into dogs, cats, and others. Based on end user, the segmentation of the market is into veterinary hospitals, veterinary clinics, and others.

REGIONAL FRAMEWORK

The report states a detailed outline of the industry, consisting of both quantitative and qualitative information. It offers a sketch and forecast of the pet specialty drugs market based on various segments. The report also consists of market size and forecast estimates from the year 2020 to2028with respect to five main regions, namely; North America, Asia-Pacific (APAC), Europe, Middle East, and Africa (MEA), and South & Central America (SCAM). The pet specialty drugs market by each region is then sub-segmented into respective countries and segments. It comprises the analysis and forecast of 18 countries globally and the recent trend and opportunities prevailing in the region.

The report analyzes factors affecting the pet specialty drugs market from both the demand and supply sides. Furthermore, it evaluates market dynamics regarding the market during the forecast period, i.e., drivers, restraints, opportunities, and future trends. It also consists of precise PEST analysis for all five regions, namely, North America, Asia Pacific, Europe, Middle East, and Africa, and South & Central America, after assessing political, social, economic, and technological factors affecting the Pet specialty drugs market in these regions.

World Geography

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MARKET PLAYERS


The report contains critical developments in the pet specialty drugs market as inorganic and organic growth strategies. Several companies are pivoting on organic growth strategies like product launches, product approvals, and others, such as patents and events. Inorganic growth strategies observed were collaborations and acquisitions &partnerships. Various such activities have paved the path for elaborating the business and customer base of market players. The market players from the pet specialty drugs market are estimated to have profitable growth opportunities in the coming years with the higher demand for pet specialty drugs in the global market. Given below is the list of a few companies engaged in the pet specialty drugs market.
The report also offers key players' profiles in the pet specialty drugs market, along with their SWOT analysis and market strategies. Also, the report focuses on the key market players with information on company profiles, financial information of the last three years, components, and services provided, critical development in the past five years.
- Zoetis
- Merck Sharp & Dohme Corp. (Merck & Co., Inc.)
- Piedmont Animal Health, Inc.
- Eli Lilly and Company.
- Boehringer Ingelheim International GmbH.
- Bayer AG
- Virbac.
- Ceva
- Vetoquinol India Animal Health Pvt Ltd
- Golden Gate Veterinary Compounding Pharmacy.
The Insight Partner's dedicated research and the analytical team comprises of experienced professionals with advanced statistical expertise and offers several customization options in the current report.
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Report Coverage
Report Coverage

Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends

Segment Covered
Segment Covered

This text is related
to segments covered.

Regional Scope
Regional Scope

North America, Europe, Asia Pacific, Middle East & Africa, South & Central America

Country Scope
Country Scope

This text is related
to country scope.

The List of Companies

1. Zoetis
2. Merck Sharp & Dohme Corp. (Merck & Co., Inc.)
3. Piedmont Animal Health, Inc.
4. Eli Lilly and Company.
5. Boehringer Ingelheim International GmbH.
6. Bayer AG
7. Virbac.
8. Ceva
9. Vetoquinol India Animal Health Pvt Ltd
10. Golden Gate Veterinary Compounding Pharmacy.

The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.

  1. Data Collection and Secondary Research:

As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.

Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.

  1. Primary Research:

The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.

For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.

A typical research interview fulfils the following functions:

  • Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
  • Validates and strengthens in-house secondary research findings
  • Develops the analysis team’s expertise and market understanding

Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:

  • Industry participants: VPs, business development managers, market intelligence managers and national sales managers
  • Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.

Below is the breakup of our primary respondents by company, designation, and region:

Research Methodology

Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.

  1. Data Analysis:

Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.

  • 3.1 Macro-Economic Factor Analysis:

We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.

  • 3.2 Country Level Data:

Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.

  • 3.3 Company Profile:

The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.

  • 3.4 Developing Base Number:

Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.

  1. Data Triangulation and Final Review:

The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.

We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.

We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.

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