Companion Animal Healthcare Market Value was worth USD .36 Billion in 2018

Posted by miky santhosh on November 22nd, 2018

Companion Animal Health Care Market Overview

Increasing adoption of companion animals is driving the market. Companion animals are the animals which serve man by giving companionship and guarding their houses or offices. Various types of diseases in animals and their transfer to humans via their product consumption and companionship are escalating the market globally.

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Growing incidence of zoonotic and food-borne diseases will be a potential concern for the health of pet animals. In many countries such as the U.S., brucellosis is increasing and causes abortion in animals. Increasing pet/companion ownership, growing health care concerns of pets, rising demand for improved nutrition, are the major factor driving the growth of the market. The factors that are hindering 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.