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Companion animal drugs systems market growth outlook with industry review and
forecasts 2021-2027
A research study conducted by Global Market Insights, Inc., suggests that companion animal
drugs system market is likely to exceed the $17.6 billion mark by 2027, in terms of revenue.
The companion animal drugs industry is estimated to procure steady growth driven by
expansive demand for drugs including parasiticides for protecting pet animals from ticks,
fleas, mosquitos, and parasites. Introduction of new products for pets, development of
advanced veterinary drugs backed by R&D, and surging rate of obesity in animals may fuel
industry expansion.
Companion animal drugs and medications that are easily available from online platforms at
discounted prices. Several governments have set up regulations and rules regarding animal
protection and against the abuse of animals. Global organizations like PETA widely promote
animal adoption and rescue, as well as provide public education, legislation and cruelty
investigations. Moreover, the Animal Welfare Board of India promotes animal welfare and
offers grants to be used for the care of rescued, sheltered animals and for immunization and
birth control. Such grants and schemes could boost pet adoption.
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© 2017 Global Market Insights Inc. All Rights Reserved www.gminsights.com
Medicated feed additives are likely to witness rapid growth at a rate of 7.2% over the forecast
timeframe owing to several benefits including refinement of quality and nutritional content
of the feed. These additives help in the overall development and growth of pet animals.
Companion animals who suffer from chronic diseases and long-term treatments might
become unmanageable or stressed. During such times, medicated feed additives act as a
suitable method for the administration of veterinary medi