U.S. Animal Healthcare Market by Product, Animal Type, , Drivers and Competitive Landscape
The
U.S. animal healthcare market will
be observing a consistent growth in the coming years due to increasing pet
adoption, consumption of meat and milk, and zoonotic and food borne diseases.
Out of the three product types in the U.S animal healthcare market, pharmaceuticals
held the largest share in 2016.
The
high consumption of animal products in the U.S. has led to increased investment
in animals’ feed and health. In terms of animal population for both production
and companion animals, the U.S. is one of the largest countries globally. In
2016, the companion animal segment held the largest share in the U.S. animal
healthcare market. The segment is also expected to grow at a faster rate in
coming years.
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According
to the American Pet Products Association (APPA), during 2017-2018, 139.3 million
freshwater fishes and 94.2 million cats will be owned by the U.S. nationals.
The APPA also claims that total expenditures on the pet industry in U.S. will
grow from $55.7 million in 2013 to around $69.2 million by the end of 2017. The
surgical vet cost for cats and dogs will account to be $245 and $474
respectively.
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Use
of antibiotics for speeding up the growth of animals is another challenge in
the U.S. animal healthcare market. According to the guidelines issued by the
United States Department of Agriculture (USDA), the usage of antibiotics should
be minimized in meat producing animals, as it causes antibiotic and
antimicrobial resistance in the human population that consumes that meat.
U.S. Animal Healthcare Market
Competitive Landscape
Some
of the key players of the U.S. animal healthcare market include Zoetis, Elanco,
Merial, Dechra Pharmaceuticals, Bayer Animal Heath, Virbac, Merck, Ceva Animal
Health, Phirbo Animal Health, Boehringer Ingelheim GmbH and Vetoquinol.
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