Global Pet Noise Anxiety Treatment Market: Introduction
Noise anxiety in pets is a phobia or strong feeling of fear around loud noises, such as sounds from fireworks or thunderstorms. Noise anxiety can result in several symptoms and have different severity levels for pets. Pets may also have a genetic predisposition toward noise anxiety.
Key Drivers of Global Pet Noise Anxiety Treatment Market
Significant Rise in Pet Adoption
According to Pethealth, Inc. (September 20, 2019), in North America, pet adoption rose by 5.2% in August, up from a 3.2% rise in July, as both dog and cat rescues increased. Increased level of control and care dog owners provide to their dogs and a rise in perception of dogs as family members are indicators of the changing human-dog relationship in the U.S. According to the Multidisciplinary Digital Publishing Institute (MDPI), data collected by PetPoint in the last eight years indicate that adoptions increased in the last decade and could have become an additional driver affecting recent decline in euthanasia in adoption of pets across the U.S. Adoptions became a key factor that further decreased national shelter euthanasia starting around or just before 2010. According to the National Center for Biotechnology Information, the U.S. National Library of Medicine, adoption numbers have stayed relatively stable over the last three decades; however, the percentage of intake adopted rose from 20% in 1984 to about 35% in 1991, stayed relatively stable at 35% from 1991 to 2005, and then started rising and had reached 52% by 2016. The factors mentioned are significantly driving the global pet adoption market.
Rise in Number of Veterinarians
Veterinarians are among the highly skilled and trained professionals across the globe. Their work demands a high level of training and a commitment to improving the health of animals. The veterinary services industry is in the mature phase, expanding at a steady pace through price rises and an increasing population. The U.S. population of veterinarians witnessed and approximate 32% increase in the last decade, increasing from 83730 in 2007 to 110531 in 2017.
North America to Account for Major Share of Global Pet Noise Anxiety treatment Market
- North America is projected to account for a major share of the global pet noise anxiety treatment market during the forecast period. The market in the region is anticipated to expand at a rapid pace in the next few years due to an increase in research & development and technologically advanced products being introduced in the market. Europe is expected to be the second-largest market during the forecast period owing to the advanced facilities and a rise in the number of veterinarians.
- The pet noise anxiety treatment market in Asia Pacific is likely to expand at a high CAGR during the forecast period owing to rising awareness and acceptance of adoption of new techniques in the region
Key Players Operating in Global Pet Noise Anxiety treatment Market
The global pet noise anxiety treatment market is highly consolidated owing to the presence of several key players. Leading players operating in the global pet noise anxiety treatment market include:
- Zoetis Inc.
- Pegasus Laboratories
- PetSmart Inc
- Merck & Co., Inc.
- Elanco US, Inc.
- Eli Lilly and Co.
Global Pet Noise Anxiety treatment Market: Research Scope
Global Pet Noise Anxiety treatment Market, by Type
- Pet medications
- Anxiety wraps or pressure wraps
- Pheromones & claiming Supplements
Global Pet Noise Anxiety treatment Market, by animal type
Global Pet Noise Anxiety treatment Market, by distribution channel
- Veterinary Hospitals
- Veterinary Clinics
- Online Pharmacies
- Retail Pharmacies
- Drug stores
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
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The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
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The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
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The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
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