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However, growing antimicrobial drug resistance is the major factor hindering the growth of
companion animal drugs market. According to the report by the University of Illinois at Urbana
Champaign (UIUC), in 2017, methicillin-resistant staphylococcus is a prevalent infection in
companion animals, accounted to around 40% in North America, 20% in Europe, 12% in Australia,
and 48% in China. U.S. Food & Drug Administration (FDA) started Center for Veterinary Medicine
(CVM), which is engaged in various activities to address the threat of antimicrobial resistance, by
protecting human and animal health.
Growing obesity in pets fuels the growth of the companion animal drugs market
According to the report by Association for Pet Obesity Prevention (APOP), in 2016, there is a
continuous increase in pet obesity, affecting around 54% of dogs and 59% of cats in U.S. Pet
obesity is a major problem in U.S., which increases the pain and suffering and also affects the life
expectancy of companion animal or pet. According to APOP, factors causing pet obesity include
negligence of pet owners and veterinary professionals in providing nutritional diet such as corn,
grains, and raw and organic diet. In 2016, According to the stats by American Pet Products
Association (APPA), around 41.9 million dogs and 50.5 million cats were classified into overweight
or obese category by veterinary healthcare professionals.
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According to the Mississippi State University, College of Veterinary Medicine, consumption of high
calorific diet, genetic and age factors, are some of the factors accounted for obesity in the
companion animal, which further lead to osteoarthritis, diabetes mellitus, hepatic lipidosis,
cardiovascular disease, and early mortality. This is expected to augment the growth of companion
animal drugs market in the near future.
Veterinary hospital/clinics
distribution channel
segment
are
expected
to
become
the
more
trusted
According to the report by Federal Trade Commission (FTC) staff, in 2015, veterinarians and
veterinary clinic or hospitals were accounted as the major distribution channel for pet medications.
Nearly all major manufactures of pet medications distribute their medications through licensed
veterinaries or through authorized veterinary distributors. Moreover, consumers purchase pet
medications from veterinarians at the time of examination and diagnosis of their pet.
Key Players in the Global Companion Animal Drug Market
Some of the major players operating in the companion animal drugs market include Merck Animal
Health, Elanco, Zoetis, Boehringer Ingelheim GmbH, Virbac, Ceva Sante Animale, Bayer AG,
Dechra Pharmaceuticals PLC, and Vetoquinol SA.
Companion animal drugs market taxonomy:
By Product Type:
•Antibiotics
•Parasiticides
•Ecto- parasiticides
•Endo- parasiticides