Fact.MR, a global research & consulting firm, in their recent version of the report, indicated that the canine separation anxiety treatment market is projected to foresee moderate expansion in 2021 and beyond. Surge in research and development and progressions in drugs along with other therapies in the treatment of canine separation anxiety is encouraging the overall industry. Rise in the adoption of pets as well as expenditure by pet owners is encouraging the industry.
“Rise in demand for drug therapy generally utilized for environmental and behavioural modification in the treatment for canine separation anxiety, is booting the industry growth.” states Fact.MR.
Growing Adoption Pets Across the Globe to Propel Growth
Increase in the adoption of pets in the developed & developing nations, rise in disposable income as well as the subsequent surge in expenditure on animals are amid factors fuelling the industry.
Furthermore, rise in the number of veterinary professionals in middle – or low -income nations and ease in the regulatory approvals for innovative drugs is driving this treatment industry.
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Clomipramine to Remain Lucrative
Clomipramine is anticipated to be the most preferred drug type. Clomipramine accounts for the biggest revenue share in the industry as a result of expansion in the demand for drugs for the treatment. It is extensively adopted to treat obsessive-compulsive disorders and disorder with an obsessive-compulsive component (e.g. Tourette’s disorder, schizophrenia, depression,).
The usage is further increased as it is thought to improve the actions of serotonin and norepinephrine by blocking their re-uptake as well as prolonging their activity.
How Big is the Opportunity in The US?
The US is likely to reflect strongest growth dynamics in canine separation anxiety treatment industry due to the higher prevalence of canine separation anxiety as well as a consequent rise in the treatment of canine separation anxiety.
India China and South Korea will grow at a notable growth pace as a result of the growth of product offerings by major companies.
The UK and Germany will continue to be a second-biggest regional market over the assessment period. Mexico, Brazil, South Africa and GCC countries are projected to account for moderate growth pace as a result of lack of awareness amid pet owners.
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Mergers and Acquisition Remain Prime Focus Area: Fact.MR Survey
The canine separation anxiety treatment market appears to be fragmented in nature. Fact.MR’s survey projected that the leading companies continue to fulfill the unmet requirements in the market through inorganic strategies, such as mergers and acquisitions. The updated edition of the report offers widespread coverage of the projected remain significant strategies of the market players. A few of the key companies profiled in the report are Pegasus Laboratories, Inc., Zoetis, Vets4Pets Limited and Merck & Co., Inc. and Pfizer Limited. The latest edition also provides a thorough analysis of the COVID-19 impact on this market.
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