(MENAFN- Comserve) Shibuya-ku, Tokyo, Japan, Japan, Nov 25, 2021, 08:40 /Comserve / -- Animal Sedative Market With Top Countries Data, Industry Analysis , Size, Share, Revenue, Prominent Players, Developing Technologies, Tendencies and Forecast
The animal sedative market is projected to register a CAGR of 5.1% during the forecast period.
The COVID-19 pandemic has been affecting the growth of various industries since its outbreak, the immediate impact of the pandemic is varied. A few industries continued to remain unaffected by the pandemic and showed signs of promising growth, whereas some industries were highly impacted by the COVID-19 and showed a strong decline in the product demand and disturbance in the supply chain. Initially, the flare of the COVID-19 pandemic showed a strong impact on the animal sedative market because veterinary hospital and pharmacies operations were reduced significantly due to several containment measures such as lockdown and social distancing measures taken by the governments across the globe. Closure in the commercial activities led to operational challenges. Moreover, the COVID-19 pandemic created a financial burden on the global economy and showed a huge impact on the supply chain for veterinary drugs across the globe. The animal sedative market is expected to recover from the COVID-19 crisis as the companies are managing and rearranging their operations amid the pandemic.
Moreover, the major factors responsible for the growth of the animal sedatives market include rise in incidences of zoonotic diseases, increasing incidences of animal cancer, and growing investment in R&D activities to ensure and quality for animals.
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Animal sedatives are a large variety of drugs which is used to decrease the anxiety level in animals during the diagnosis and medical procedures such as surgery and enhance the quality of care provided to the animals. Animal sedatives are the CNS depressant such as acepromazine, phenobarbital, gabapentin, xylazine, and lidocaine. These types of drugs play an important role in the prevention of the diseases, enhances pain management in animals, curing the diseases of the afflicted animal, and treating their injuries. The animal sedative drugs also help in prevention the transmission of zoonotic disease and is useful during cancer diagnosis as these drugs helps in reducing the anxiety level of animal during the cancer diagnosis procedures. These factors are expected to drive the market growth during the forecast period. According to American Veterinary Medical Association, approximately 1 in 4 dogs will suffer from neoplasia at some point of their life and almost 50% of the dogs above the age of 10 will develop cancer.
Moreover, increasing incidences of animal diseases and increasing use of animals in medical research and trials is expected to drive the animal sedatives market during the forecast period. According to Understanding Animal Research, in 2019, 3,401,517 procedures were carried out in Great Britain on dogs, horses, cats and primates under the British law for the purpose of scientific research.
However, emerging adverse effects of animal sedative drugs such as reducing respiratory diseases, lowering blood pressure, cardiovascular collapse, etc. and stringent government regulations for the sedatives are expected to restrain the market growth, over the forecast period.
Key Market Trends
The Phenothiazines drug Segment is Expected to Account for the Largest Market Share During the Forecast Period
The phenothiazines segment is estimated to have the highest share of the animal sedatives market during the forecast period, as they aid to lower dopamine levels and further depress some areas of the reticular activating systems. Acepromazine is one of the most regularly used phenothiazines, which can be used alone or in combination with other sedatives as pre-operative drugs, to relieve travel anxiety, and to avoid allergies and itching in animals.
The parent ingredient of all medications is a phenothiazine. They are employed as tranquilizers, preanesthetic drugs, antiemetics, and for the treatment of CNS agitation in domestic animals. Chlorpromazine (marketed as Thorazine and other trade names), thioridazine (Mellaril), and trifluoperazine are three of the most often utilized phenothiazines (Stelazine).
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Animal diseases such as Rabies, Canine distemper, Leptospirosis, Canine influenza, Canine parainfluenza, etc. are some of the most common risks for the animal's well-being. The animals are provided sedative drugs for their cure from zoonoses, phenothiazines being the parent ingredient for the most regularly used sedative drugs. Hence, the increase in the demand of this segment will drive the overall animal sedative market.
North America is Expected to Hold a Significant Share in the Market and Expected to do Same in the Forecast Period
North America held the largest market for animal sedative drugs in the past and is expected to retain its position during the forecast period due to an increase in the frequency of zoonotic diseases, the use of animal sedatives, and increased expenditure in animal medical research. The presence of well-established healthcare infrastructure, and strong adoption of the latest diagnostic technology are all factors that contribute to this supremacy. This, together with the rising frequency of animal diseases, will help this region maintain its market dominance in the years ahead.
The North American region is estimated to be a potential segment for the animal sedative market as it generates most of the revenue from this region, because of the presence of comparatively higher animal health expenditure, high awareness levels, and a large number of medical research and trials. North America is expected to dominate the animal sedative market during the forecast period because of the government initiatives of monitoring and implementation of rules and regulations on sedatives drug manufacturing companies.
Moreoever, Europe and Asia Pacific is also expected to account for significant growth during the forecast period due to large incidences of medical research and improving animal healthcare infrastructure in the developing countries like China, Japan and India. Additionally, increase in expenditure on research and development activities for improving animal's safety and care is the strategy adopted by the dominating market players to account for the industry growth in the region.
The animal sedative market is moderately competitive and consists of several major players. In terms of market share, a few of the major players are currently dominating the market. Some of the companies which are key players in the market are Zoetis, Inc., Ceva, Merck & Co. Inc., Elanco, Virbac Group, Dechra Pharmaceuticals Plc, Orion Corp., and Vetoquinol.
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