Pet
Medication is a branch of medicine that deals with the prevention,
diagnosis and treatment of disease, disorder and injury in pet animals. The
U.S. pet medication market is majorly driven by changing socio economic and cultural
factors that have led to domestic pets being regarded as member of family. This
in turn increases pet owner’s spending from innovative and specialized premium
product and grooming expenses to medication drugs. Moreover, with the
increasing trend of nuclear family and increasing disposable income the
ownership of pets among middle class family is growing exponentially. The
increasing number of pet owners and their growing concern towards pets, in turn
is also expected to boost the U.S. pet medication market. However, the rising
incident of pet allergy and increasing prices of pet medications products acts
as restraining factor for the growth of pet care market. In addition, strict
government regulations regarding pet ownership also hinders the growth of U.S.
pet care market.
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The United States federal agency regulates the manufacturing and
distribution of drugs and medications that are prescribed the veterinary
animals. Veterinary prescription drugs are labeled for use only by or on the
order of a licensed veterinarian. All veterinary prescription drugs must be
properly labeled when dispensed. A complete label should include all the
information set forth under the section on Basic Information for Records,
Prescriptions, and Labels.
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The U.S. pet market has been segmented on the basis of pet type,
type of medication and type of disease. On the basis of pet type the market is
categorized into canine care medications, feline care medications, fish care
medications, bird care medications and others pets. The canine care medication
segment held the largest share in the U.S. pet medication market and is
anticipated to experience a constant growth during the focus period. The rise
in the number of canine owners and high spending on canine care, coupled with
high adoption rate of canines for companionship and for security purpose is
expected to further boost the demand for medications for canine care. The
canine care medication market is followed by feline care medication market. On
the basis of type of disease, the market can be segmented into parasite
prevention and control (flea, tick, heartworm, etc.), cancer, pain management,
behavioral health, diabetes, heart health, ear care and allergies. The parasite
prevention and control segment held the largest share during the forecast
period. Parasite attacks and itching problems is the most common problem of the
pet animals. Merial’s Frontline Plus and Nexgard are the market leaders for the
parasite and control drug. On the type of medication, the U.S. pet medication
market can be segmented into antibiotics, non-steroidal anti-inflammatories,
opioid pain relievers, steroids, antiparasitics, behavior-modifying drugs and
sedatives and chemotherapeutics. The antiparasitic drugs held the largest share
in this segment. These products are intended to prevent, repel or kill internal
or external parasites such as intestinal worms, intestinal protozoans (Giardia,
etc.), heartworms, fleas and ticks. Chemotherapeutics is anticipated to be the
fastest growing segment in the U.S. pet medication market during the forecast
period of 2015-2023.
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Some of the major companies participating in the U.S. pet
medications market include Bayer Animal Health, Boehringer Ingelheim Vetmedica,
Ceva Sante Animale, Novartis Animal Health, Elanco, Merial, Merck Animal
Health, Zoetis and others.
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