Middle East and Africa Companion Animal Health Care Market by Product type – (Feed Additives, Pharmaceuticals, and Vaccines) and by Region - Industry Analysis, Size, Share, Growth, Trends, and Forecasts (2016–2021)
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The Middle East and Africa Companion Animal Health Care Market was worth $ 1.02 Billion in 2016 and estimated to reach $ 1.37 Billion by the end of 2021 with a growing potential of 6.051 %.
Companion animals are the animals which serve man by giving companionship and guarding their houses or offices. Due to increasing number of disorders in pet/companions, the companies are focusing more on the research for the development of new drugs and vaccines.
Companion Animal healthcare market has seen some of the important mergers and acquisitions to attain expertise in developing new active pharmaceutical ingredients /drugs.
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The factors that are driving the Middle East and Africa Companion Animal Health Care Market are increasing incidence of zoonotic and food borne diseases, Increasing pet/companion ownership, growing health care concerns of pets, rising demand for improved nutrition. 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 are the factors hampering the growth of the market.
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Based on product type, the market is segmented into Feed additives, Pharmaceuticals, and vaccines. The feed additives segment is further segmented into Nutritional feed additives and Medicinal feed additives.
Nutritional feed additives are given to animals for ensuring their growth. Nutritional feed additives include Proteins, minerals, amino acids, and vitamins.
On the other hand, medicinal feed additives target particular types of diseases in companion animals. Medicinal feed additives include enzymes, probiotics, hormones, immune modulators, prebiotics, and feed acidifiers.
Pharmaceutical products in the Companion animal healthcare market include ectoparasiticides, endectocides, antibiotics, anti-inflammatories, and medicines for curing reproductive problems. Based on Geography, the Middle East and Africa Companion Animal Health care market is analysed under various regions namely Middle East and Africa.
Major players in Middle East and Africa Companion Animal Health Care market are Pfizer Animal health Ltd, Merck & Co Inc., Sanofi Aventis Animal Health, Zoetis Inc., Boehringer Ingelheim GmbH, Elanco Products Company, Bayer AG, Novartis animal Health Inc., Virbac SA, Ceva Sante Animale, Vetoquinol SA.
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