Growing adoption rate of companion animals, increasing consumption of meat and milk, and rising food-borne zoonotic diseases are the key factors driving U.S. animal healthcare market. Further, high disposable income of pet owners, and advancements in animal healthcare are some of the other factors contributing to growth of the U.S. market.
On the basis of parasiticides, the U.S. animal healthcare market has been classified into ectoparasiticides, endoparasiticides, and endectocides. Of these, ectoparasiticides held the largest share in the market; owing to growing concern regarding animal health among the companion and farm animal owners.
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Based on distribution channel, U.S. animal healthcare market is categorized into veterinary hospitals, veterinary clinics, and pharmacies & drug stores. Among these, veterinary hospitals category accounted for majority of share in market in 2017. This is attributed to increasing pet adoption, increasing awareness about animal welfare, and rising pet humanization trend in the country.
With rising food-borne zoonotic diseases, several concerns are being raised among animal farm owners and pet owners over animal health. Brucellosis (bacterial infection), which causes stillbirth, is rising in the U.S. Hence, for the management of food-borne zoonotic diseases, demand for animal healthcare products is increasing in the country.
The growth in domestic consumption as well as large export of milk and meat, rising adoption rate of companion animals, and rising food borne-zoonotic diseases are the key factors driving the U.S. animal healthcare market.
The major factor hindering the growth of the U.S. animal healthcare market include restrictions imposed by regulatory authorities on the use of antibiotics. Antibiotics are used for animals for therapeutic and non-therapeutic purposes. It has been observed that excessive amount of antibiotics given to animals affects the overall health of consumers.
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The key players operating in the market include Zoetis Inc., Merck & Co. Inc., C.H. Boehringer Sohn AG & Co. KG, Bayer AG, Virbac Group, Ceva Santé Animale, Elanco Animal Health, Vetoquinol S.A, HIPRA, Huvepharma, and Dechra pharmaceuticals plc.
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