The Europe Companion Animal Health Care Market was worth USD 3.31 Billion in 2016 and estimated to reach USD 4.48 Billion by the end of 2021 with a growing potential of 6.25 %.
Animals like Dogs, cats, birds, pleasure horses, guinea pigs, mice and more exotic species kept by humans for company, extrovert display, psychological support, amusement and all the other functions that humans need to share with the animals of different species; companions who will not take emotional advantage of the person and will, for the most part, stay faithful. The companies are focusing more on the development of new drugs and vaccines for the exciting and newly diagnosed diseases. Companion Animal healthcare market has seen some of the important mergers and acquisitions to attain expertise in developing new active pharmaceutical ingredients /drugs.
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Europe Companion Animal health care market is mainly driven by incidence of zoonotic and food borne diseases will be a potential concern to the health of pet animals, Increasing pet/companion ownership, growing health care concerns of pets, rising demand for improved nutrition. The restraints that will hamper the growth of the market are restrictions by regulatory bodies have a negative impact on the sales of antibiotics, soaring costs and increasing regulations on animal testing have hindered a number of healthcare companies from manufacturing newly advanced drugs.
Based on product type, the market is segmented into Feed additives, Pharmaceuticals, and vaccines. The feed additives segment is further segmented into Nutritional feed additives and Medicinal feed additives. Nutritional feed additives are given to animals for ensuring their growth. Nutritional feed additives include Proteins, minerals, amino acids, and vitamins. On the other hand, medicinal feed additives target particular types of diseases in companion animals. Medicinal feed additives include enzymes, probiotics, hormones, immune modulators, prebiotics, and feed acidifiers. Pharmaceutical products in the Companion animal healthcare market include ectoparasiticides, endectocides, antibiotics, anti-inflammatories, and medicines for curing reproductive problems. Based on Geography, the Europe Companion Animal Health care market is analysed under various regions namely U.K, Germany, France, Italy and Spain.
Major players in Europe Companion Animal Health Care market are Pfizer Animal health Ltd, Merck & Co Inc., Sanofi Aventis Animal Health, Zoetis Inc., Boehringer Ingelheim GmbH, Elanco Products Company, Bayer AG, Novartis animal Health Inc., Virbac SA, Ceva Sante Animale, Vetoquinol SA.
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