Pet health products are supplements that are designed for use by dogs and cats. The majority of them contain what is called "meat" which is basically a meal for the animal. Some pet health products are better than others and most companies claim that their pet health products are more effective and of higher quality than the competition. However, it is important to do some research on these products before you decide to buy them. Some pet foods in the marketplace claim to offer better nutrition or certain other health benefits.
Increasing prevalence of food-borne and zoonotic diseases is expected to drive growth of the global pet health products market during the forecast period. According to the World Health Organization (WHO), around 55,000 people die due to rabies in Africa and Asia, with prevention and control expenses reaching US$ 590 million annually. According to the same source, the annual cost of porcine cysticercosis/taenosis in India is expected to be US$ 150 million. According to the Centers for Disease Control and Prevention (CDC), each year, around 48 million U.S. citizens get sick, while 3,000 dies from foodborne diseases in the U.S. Pet health products can help to prevent the transmission and emergence of zoonotic diseases such as rabies, Valley Fever, Cat Scratch Disease, and more. Thus, these factors are expected to drive growth of the global pet health products market during the forecast period. Furthermore, increasing in animal healthcare expenditure is expected to boost the global pet health products market growth over the forecast period. Besides, increasing demand for pet insurance combined with growing demand for protein in animal products is expected to boost the global pet health products market growth over the forecast period.
However, high cost associated with pet products and lack of awareness in emerging economies is expected to hinder the global pet health products market growth over the forecast period. Among regions, North America is expected to witness significant growth in the global pet health products market during the forecast period. This is owing to changing demographic trend in the pet ownership many owners preferring nutritionally rich, fresh, and branded pet food products. Furthermore, Asia Pacific is expected to register a lucrative growth rate over the forecast period, owing to rising consumer awareness regarding the beneficial impact on pet health.
Key companies involved in the global pet health products market are Abbott Laboratories, Boehringer Ingelheim GmbH, Central Garden & Pet Company, Nestlé, Bayer AG, Merck & Company Incorporated, Colgate-Palmolive Company, Pfizer Incorporated, Novartis AG, Heska Corporation, Beefeaters Holding Company Incorporated, and Hartville Group Incorporated.
For instance, in July 2020, Boehringer Ingelheim GmbH launched two new products Broadline and NexGard for comprehensive parasite treatment for cats and dogs respectively.
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