Friday, March 15, 2024

Exploring the Dynamics of Animal Treatment Market: Trends, Challenges, and Opportunities

Animal Treatment Market

Introduction

Animal treatment is the treatment that an animal receives and is covered by various terms such as animal care, animal husbandry, and humane treatment. It is a crucial concern and encompasses their physical, psychological, and emotional well-being. Animal treatment is important due to various animals across the globe are suffering from being used for entertainment, food, medicine, fashion, scientific advancement, and as exotic pets. Further, the various advantages of the industry include ethical considerations, improved human health, conservation of biodiversity, food safety and quality, environmental sustainability, enhanced productivity & efficiency, emotional well-being, and education & empathy.

Animal Treatment Market Key Factor Driving Growth:

·         Rising pet ownership is one of the major factors driving the growth of the global animal treatment market as pets are often considered family members, and it enhances the spending on their health and well-being.

·         Advancements in veterinary medicine technology such as diagnostic techniques, medical equipment, and treatment methods are the other factor propelling the global market size. As it enhances the effectiveness of treatments and allowed for more targeted and specialized care.

·         Rising government and private initiatives towards animal health are anticipated to boost the industry demand over the foreseen period. It led to higher demand for animal treatments and healthcare products.

·         The growing frequency of animal diseases such as zoonotic diseases and others is uplifting the growth of the global market as it created a greater requirement for effective animal treatments.

·         Rising disposable income is considered a major factor expected to boost the global market size over the projection period as it enhances the spending on veterinary services, medications, and other treatments.

Animal Treatment Market Restraints

However, resistance to change and the huge cost of treatment are the major factors restricting the global market growth. Further, economic factors and limited research and development are the other factors anticipated to hinder the growth of the global animal treatment market over the assessment period.

Market Overview

The latest updated study from Emergen Research on “Animal Treatment Market (2023-2032)”, offers a precise analysis of the market covering all the essential information required by the new entrants as well as the existing players to gain a deeper insight into the market. It includes the global animal treatment market size was USD 44.63 Billion in 2022 and is expected to reach a CAGR of 6% over the forecast period. Also, the study provides information about the regional wise segmentation and analysis of the global market for the study period.

Strategic Developments

In June 2021, Bactiguard expanded its business and launched infection prevention for pets through a collaboration with the Nordic pet retailer Musti Group. The partnership evolves around a new range of wound care products (Aniocyn) for pets.

Further, in March 2021, Axio Biosolutions launched the SureKlot range of products with an aim to expand into the veterinary wound management area. Sureklot is available as a patch, gauze, powder, and spray, suitable for different types of wounds.

Animal Treatment Market Top Players

The leading players operating in the global animal treatment market include Merck Animal Health, Boehringer Ingelheim Animal Health, Dechra Pharmaceuticals, Phibro Animal Health Corporation, Norbrook Laboratories, Elanco Animal Health, Nutreco, Heska Corporation, Idexx Laboratories, Vetiquinol, Ceva Santé Animale, Agria Djurförsäkring, Virbac, Bayer Animal Health, Neogen Corporation, Anicura, Zoetis, Kindred Biosciences, Vetoquinol, and IDEXX Laboratories.

Conclusion

In conclusion, ensuring the proper treatment of animals benefits not only the animals themselves but also humans, the environment, and society as a whole. It promotes a more harmonious and sustainable coexistence between humans and animals.