Atipamezole
Market: Introduction
According to the report,
the global atipamezole
market was valued at US$ 60 Mn in 2019.
It is projected to expand at a CAGR of ~1% from 2020 to 2030.
Atipamezole is a specific α2-antagonist that was developed to reverse the
actions of medetomidine and has marketing authorization for dogs and cats.
Medetomidine and antagonism with atipamezole is, presently widely utilized in
small animal practice. The reduction in sedative time of animals shortens the
in-clinic stay and saves the time of staff, leading to an increase in adoption
of atipamezole, which is boosting the atipamezole market. Moreover, atipamezole
is utilized off-label as an antidote for various toxicities in dogs. Thus, a
surge in number of toxicity cases due to overuse of medications or drugs leads
to an increase in the demand for atipamezole. This, in turn, is estimated to
propel the atipamezole market. North America dominated the global atipamezole
market in 2019. The trend is anticipated to continue during the
forecast period. Strategies adopted by key players such as product approval
& launch and mergers & acquisitions, well-established health care
infrastructure, and early adoption of advanced therapeutics boost the
atipamezole market in the region.
Asia Pacific is likely to
be a highly lucrative market for atipamezole. The market in the region is
expected to expand at a high CAGR during the forecast period. Government
initiatives in developing countries toward modernization of animal healthcare
infrastructure and rise in awareness about advanced therapeutics are key
factors that are anticipated to fuel the atipamezole market in Asia Pacific.
Rise in
Healthcare Expenditure on Animals to Drive Atipamezole Market
The pet industry
expenditure primarily comprises spending on live animals & OTC
(over-the-counter) medicine, vet care & product sales, and pet food &
treats. Spending on pets is increasing, including spending on veterinary care.
Rise in awareness about pet care products is leading to an increase in
expenditure. Thus, increase in healthcare expenditure on animals is likely to
fuel the market. For instance, according to the American Pet Products
Association, the estimated spending in the U.S. pet industry increased by 4.4% from 2017 to
reach US$ 72.56 Bn in 2018. Companion animal
ownership has grown and owners are willing to spend extra on animal health.
According to The North American Pet Health Insurance Association, the number of
pets insured stood at 1.4 million in 2014. Rise
in animal health awareness and animal welfare boosts the atipamezole market.
Anti-sedative to
Offer Lucrative Opportunities
In terms of application,
the global atipamezole market has been classified into anti-sedative and
antitoxic (off-label use). Rise in usage of atipamezole, owing to advantages
such as reduction in sedative time of animals shortens the in-clinic stay and
saves the time of staff. This is a key factor that is anticipated to drive the
segment.
Request for
Analysis of COVID19 Impact on Atipamezole Market - https://www.transparencymarketresearch.com/sample/sample.php?flag=covid19&rep_id=77542
Intramuscular to
be Preferred Route of Administration
In terms of route of
administration, the global atipamezole market has been divided into
intramuscular, intravenous, and others. Absorption of atipamezole is rapid due
to its weak lipophilic nature, a peak plasma level is reached in about 10
minutes in dogs, and it rapidly crosses the blood brain barrier. This factor is
propelling the intramuscular segment.
Surge in Pet
Ownership of Dogs to Drive Atipamezole Market
In terms of animal type,
the global atipamezole market has been divided into dogs, cats, and others. FDA
has approved atipamezole in dogs. Surge in number of pet ownership of dogs
across the globe is anticipated to drive the dogs segment.
Veterinary
Hospitals to be Key Distribution Channel
In terms of distribution
channel, the global atipamezole market has been divided into veterinary
hospitals, retail pharmacies, and online pharmacies. Expansion of the
veterinary hospitals segment can be attributed to the availability of a wide
range of services, such as diagnosis and treatment at hospitals, thereby
leading to an increase in number of pet owner visitors.
Buy now
Atipamezole Market Report - https://www.transparencymarketresearch.com/checkout.php?rep_id=77542<ype=S
North America to
Dominate Atipamezole Market
In terms of region, the
global atipamezole market has been segmented into North America, Europe, Asia
Pacific, Latin America, and Middle East & Africa. North America dominated
the global atipamezole market in 2019, followed by Europe.
North America accounted for a major share of the global atipamezole market
in 2019. Presence of key players, adoption of advanced
therapeutics, and focused on research and development are key factors that are
anticipated to drive the atipamezole market in the region. The atipamezole
market in Asia Pacific is anticipated to expand at a rapid pace during the
forecast period. Rise in healthcare spending on animals and government
initiatives to increase awareness about animal healthcare is likely to propel
the atipamezole market in the region.
Competition
Landscape
The global atipamezole
market is fragmented in terms of number of players. Key players in the global
atipamezole market include Zoetis Services LLC, Merck & Co., Inc.
(Merck Sharp & Dohme Corp), Modern Veterinary Therapeutics, Orion
Corporation, Jurox Pty Limited, Vetoquinol UK Limited, Chanelle Pharma Group,
Forte Healthcare Ltd, and Troy Laboratories Pty Ltd.
More Trending
Reports by Transparency Market Research:
About Us
Transparency Market
Research is a global market intelligence company, providing global business
information reports and services. Our exclusive blend of quantitative
forecasting and trends analysis provides forward-looking insight for thousands
of decision makers. Our experienced team of analysts, researchers, and
consultants, uses proprietary data sources and various tools and techniques to
gather and analyze information.
Our data repository is
continuously updated and revised by a team of research experts, so that it
always reflects the latest trends and information. With a broad research and
analysis capability, Transparency Market Research employs rigorous primary and
secondary research techniques in developing distinctive data sets and research
material for business reports.
Contact
Transparency Market
Research,
90 State Street, Suite
700,
Albany, NY 12207
Tel: +1-518-618-1030
USA - Canada Toll Free:
866-552-3453
