Healthcare Brazil Pet Veterinary Drugs Market | Page 2

Brazil pet veterinary drugs market is segmented into conditions such as anti-
infectives, anti-inflammatory and parasiticides. Among these segments,
parasiticides segment is expected to occupy the top position in the market.
Further, rising incidences of zoonotic diseases are increasing the chances of
diseases in pets as well as humans and pose a serious risk to animal and human
health. This factor is propelling the growth of veterinary drug market owing to
the increasing awareness among pet owners. Moreover, the trend of adoption of
pets is increasing the risk of diseases transmitted to humans by animals. Further,
rising government regulations to protect humans from animal transferable
disease are opening the opportunities for the pet pharmaceutical drugs
manufacturers to develop and introduce various products to control the disease.
In addition to this, various government initiatives are increasing the consumer
awareness about the transmissible diseases from pets. So, veterinary drugs are
expected to witness growth owing to the increase in the consumer awareness.
The Brazil pet veterinary drugs market is expected to register a CAGR of 7.1%
over the forecast period. Moreover, the market of Brazil pet veterinary drugs
market was valued at USD 415 Million in 2016. Further, continuous
strengthening bond between pets and pet owners is expected to yield the growth
of pet veterinary drugs market.
The recombinant vaccines by vaccines segment are estimated to register a CAGR
of 8.7% during the forecast period. Further, the growth of the recombinant
vaccines is expected to expand due to the innovation in the vaccine which has
enhanced the efficacy, safety and long term effect. Likely, companion animal
owner are ready to pay for welfare and healthcare for their pets. The surging
number of pets across the Brazil has increased the demand for innovative pet
veterinary drugs.
Rise in Number of Pet Ownership
Rise in the number of companion animal ownership is the major factor which is
fuelling the growth of pet veterinary drugs market in the Brazil. Various health
benefits such as less stress and high physiological stability and animal assisted
therapies are bolstering the bond between the pet and their owners. Further, this
affectionate bond is increasing the spending on pets which is boosting the growth
of pet veterinary drugs market.
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