Players in North America Companion Animal Drugs Market Focus on R&D to Expand Their Product Portfolio

 

Companion Animal Drugs Market


Companion animal drugs is the new buzzword in the pet world. These drugs are intended for use in the diagnosis, cure, mitigation, treatment, or prevention of disease in animals. Demand for such pet products, especially in the United States is on the rise. In North America, demand for companion animals increasing; many pet owners are expected to pump up adoptions of pet animals over the year ahead. This has given a boost to growth of North America companion animal drugs market.

Pet owners and veterinarians have turned more to drugs that help pets recover from common and sometimes life-threatening injuries and diseases. Pets are usually given high doses of antibiotics to fight serious bacterial and parasitic infections, which can cause complications and mortality if not treated. It is for this reason that a veterinary assistant must always be ready with hands-on skills of administering veterinary medications. With the help of a veterinarian assistant, it is easy for pet owners to administer necessary drugs to their companion animals as and when required.

But, it has also been observed that drug stores and veterinarian offices in North America companion animal drugs market are facing challenges in providing enough antibiotics for domestic dogs and cats. For this reason, the drug store owners and the veterinarians have been searching for other solutions besides buying antibiotics. It is these pet owners and veterinarians who have led the way to the ever-increasing popularity of companion drugs in North America.

The competition in the North America companion animal drugs market is tough. To survive, the companies need to find a better way of developing drugs and medicines in the field of neglected diseases and in the field of emergencies. The major players in this race are Zoetis Inc., Orion Animal Health, Merck & Co., Inc., Bayer AG, Eli Lily & Co., Sanofi (Merial), Ceva Santé Animal, Virbac Animal Health, and Boehringer Ingelheim GmbH. As of now, these players are focused on R&D to expand their product portfolio. In May 2021, The Committee for Medical Products for Veterinary Use (CVMP) of the European Medicines Agency recommended Bonqat (pregabalin) for marketing authorization in the European Union. The compound developed by Orion Animal Health is recommended for alleviation of acute anxiety and fear associated with transportation and veterinary visits in cats.

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