A supplement is a product that reinforces nutritional balance. Veterinary supplements are products such as capsules and tablets that cover the deficiency in nutrition in animals.

The global veterinary supplements market is primarily driven by an increase in disposable income and a rise in the adoption of pets. In recent times, the number of pet owners has been increasing significantly across the world. According to a study published by the Humane Society of the United States (2016), almost 70% of households own at least one pet, and 50% of all households own more than one pets in the U.S. Altogether, there are almost 87.0 million cats and 80 million dogs in homes across the U.S., and the number is anticipated to rise in the future. In addition, the animal industry has a strong impact on the overall economy. For instance, the equine industry involves breeding, keeping, and overall management of horses and shows a strong impact on the overall economy. The industry creates income opportunities for several veterinary physicians, equestrians, and others. Additionally, it creates opportunities for the sale of equine healthcare products. According to the American Horse Council, the equine industry estimated that the same industry directly and indirectly contributed approximately US$ 39 Bn and US$ 63 Bn, respectively, to the U.S. economy in 2016. On the other hand, the equine industry generates almost US$ 122.1 Bn per year. Hence, a strong economic impact of equine industry is expected to drive the global equine health care market. However, lack of awareness about nutritional diets for pets and availability of low quality supplements for pets are likely to restrain the growth of the global veterinary supplements market during the forecast period.

A rise in the incidence of animal diseases across the globe has prompted pet owners to take measures to keep their pets secure. Pets require frequent health checkups, diagnosis, and treatment in order to avoid medical conditions. Increase in the cost of modern medicines and supplements has become a concern for pet owners. Therefore, a rise in the availability of health insurance policies for pets is expected to present expansion opportunities for the global veterinary supplements market in the coming years. 

In terms of supplement, the global veterinary supplements market can be segmented into minerals, vitamins, proteins or amino acids, enzymes, and others. In addition, the global veterinary supplements market is classified into companion segment and livestock segment, in terms of animal type. The companion segment can be further divided into canine, feline, equine, and others. The livestock segment can be further categorized into bovine, ovine, porcine, poultry, and others. Based on distribution channel, the global veterinary supplements market can be classified into veterinary hospitals and clinics, retail pharmacies and drug stores, and others.

In terms of region, the global veterinary supplements market can be categorized into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America has a robust equine health care industry. Health care expenditure on animals accounted for almost 0.4% of GDP in North America in 2017. North America dominated the global veterinary supplements market in 2017 in terms of market share. The market in the region is expected to expand at a prominent growth rate during the forecast period, owing to a significant adoption rate of pets per household, rise in interest in pet care, and robust animal health care expenditure. Europe held a key share of the veterinary supplements market in 2017, due to higher pet adoption by households and significant animal health care expenditure in Western Europe. Latin America constituted a prominent market share in 2017, and the market in the region is expected to expand at a rapid growth rate in the near future. This is due to an increase in the rate of pet adoption among households, a robust animal breeding industry in the region, and high animal health care expenditure (particularly in Brazil).

Key players operating in the global veterinary supplements market are Amorvet, P.S. Healthcare, The Daniel Baum Company, Nutri-Vet, Equine Products U.K. Ltd., Vetoquinol, Dechra, Ceva Sante Animale, Purina, and others.

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Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

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  • 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
  • Europe
  • 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.

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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?

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Veterinary Supplements Market

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