Opportunities in the global companion animal vaccines market
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Market consolidation in developed regions could ease product availability
Mergers and acquisitions are gaining a wider footprint within the global companion animal vaccines market in developed regions, which is expected to widen product availability and ease market access. For example, global veterinary product manufacturer Elanco has agreed to buy Boehringer Ingelheim Vetmedica Inc.’s U.S. companion animal vaccines business apart from Fort Dodge manufacturing facility as of October 2016. Besides strengthening Elanco’s market position in the global animal health business, the company also plans to boost vaccine research and testing in collaboration with veterinarians.
“Rising adoption of pets is fuelling the global companion animal vaccines market
Increasing humanisation of pets and adoption in developed markets such as the U.S. is driving the demand for animal vaccines. Furthermore, growing trend of using pets as a status symbol in many countries is also expected to fuel the market’s revenue growth. Pets are known to provide relief from psychological stress emanating from solitary nuclear family structures, prevalent across most developed and rapidly emerging markets. To exemplify, data from the American Pet Products Association noted that as of 2016, 70 million to 80 million dogs (approximately 37% to 47% of all households) and 74 million to 96 million cats (30% to 37% of all households) are owned in the U.S.”
Browse Full Report@ http://www.futuremarketinsights.com/reports/companion-animal-vaccines-marketAlso See: Vaccines Market, Global Companion, Companion Animal, Animal Vaccines, Vaccines, Segment, Market