The rising prevalence of parasitic & infectious diseases and the increasing number of companion animal owners are boosting the market growth for the companion animal healthcare market in Brazil. However, changes in purchase patterns, increased generic drugs, low-cost human drug sublimities, and regulatory restriction is vital factors that might restrain the market growth significantly.
The Companion Healthcare Market is segmented by Products into Vaccines, Anti-Infectives, Medicinal Feed Additives, Parasiticides, Diagnostics, and Others. Medicinal Feed Additives accounted for the most significant market share of more than 20% of Brazil's companion animal health market.
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Market Dynamics
The products under Medical Feed Additives include immune modulators against inflammatory diseases, probiotics which are microorganisms with health benefits, enzymes, vitamins, antioxidants, and feed acidifiers enhancing nutritional value. These products improve the overall health of companion animals.
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Segment Analysis
Dogs accounted for the largest share of the animal type segment owing to health benefits associated with the adoption of pets, increase in awareness, and demand for efficient care for dogs.The primary driver of the companion animal healthcare market is the willingness of owners to increase spending on their pet’s health. Emotional attachment with companion animals is the primary motivator behind this driver.
Competitive Landscape
Merck Animal Health,Ceva Santé Animale,Vetoquinol SA,Nutreco N.V.,Bayer Healthcare,Elanco,Virbac,Boehringer Ingelheim,Pfizer,Merial.
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