Companies and animal healthcare organizations associated with the animal treatment market include Zoetis (US), Merck (US), Boehringer Ingelheim (Germany), Elanco (US), Ceva (France), Phibro Animal Health Corporation (US), Abaxis, Virbac SA (France), IDEXX Laboratories, Inc., Neogen Corporation, Heska Corporation (US) and others.
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Above mentioned players have direct impact on the animal treatment rate and hence, any strategic initiatives undertaken by these companies would create a wave of transition in medicalization rate. For instance, companies such as Zoetis develop superior quality veterinary products/medications that are easy to administer and have higher efficacy. Hence, rising availability of such highly efficient veterinary products will have a positive impact on the animal treatment rate. Besides product launches, companies also invest in R&D to create product differentiation in veterinary diagnostics category. Few players also consider geographic expansions as an option to cater to larger customer base for acquiring significant market share.
Zoetis is one of the leaders in the animal treatment market. The company offers commendable products and services in veterinary space. Zoetis has not only supplied medicinal products, but it has also diversified its product offerings through investing in R&D to develop genetic testing solutions. These advanced genetic testing solutions have helped the owners to obtain better quality animal breeds. Such advancements have enabled the company to gain recognition and create a dominant position in the market. Furthermore, Zoetis also believes in maintaining its position in the market by implementing strategic initiatives such as acquisitions. For instance, in November 2019, Zoetis acquired ZNLabs, a nation-wide reference laboratory to strengthen its position. Presence of such strong players in the veterinary treatment market has raised the entry barriers for the emerging players.
In animal treatment market, along with the suppliers, animal welfare organizations/associations are equally important. These not-for-profit associations/organization often undertake initiatives that favor medicalization rate in animals. For instance, Animal Veterinary Medical Association (AVMA) in the US monitors and evaluates health in animals and takes necessary actions to improve the animal healthcare scenario. Similarly, in other countries group of animal welfare association work in collaboration to assess the animal health and create norms that foster medicalization rate.
In a nutshell, animal treatment market is an ecosystem wherein; the supplier companies, animal welfare organization/government authorities and veterinarians work collaboratively to maintain animal health on country level. In developed economies, the animal treatment scenario has improved drastically however, in the emerging economies, the norms are yet to be aligned and implemented that has restrained the animal medicalization rate to some extent.
Animal Treatment Market By Animal Type (Dogs, Cats, Horses, Cattle, Pigs, Poultry) & Treatment Type (No Medicalization, Basic Medicalization, Veterinary Care), Country (US, Canada, Germany, UK, France, Spain, Italy, Russia, Austria, Poland, Netherlands, Turkey, Bulgaria, China, India, Japan, Australia, India, South Korea, Thailand, Saudi Arabia – Forecast 2024
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