Global Pet Insurance Market

Pet food is a type of feed prepared from ingredients such as grains, oilseed mill products, and meat products that are specifically formulated and intended for consumption by dogs or cats. The main types of pet food are dog and cat food and other pet food. Dog and cat food is food specifically formulated and intended for consumption by dogs, cats, and other related canines. Pet foods contain several ingredients, which include animal derivatives, plant derivatives, and synthetics. These products are made available through specialised pet shops, internet sales, hypermarkets, and other distribution channels. The pet food research report is one of a series of new reports from The Business Research Company that provides pet food statistics, including pet food industry global market size, regional shares, competitors with pet food share, detailed pet food segments, market trends and opportunities, and any further data you may need to thrive in the pet food industry. This pet food research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry. The global pet food market grew from $66.45 billion in 2022 to $72.02 billion in 2023 at a compound annual growth rate (CAGR) of 8.4%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The pet food market is expected to grow to $94.97 billion in 2027 at a CAGR of 7.2%. The pet food manufacturing market's growth is aided by stable economic growth forecasted in many developed and developing countries. According to the International Monetary Fund (IMF), global GDP growth reached 3.3% in 2020 and 3.4% in 2021, both according to the IMF. Recovering commodity prices, after a significant decline in the historical period, are further expected to aid the market's growth. Developed economies are also expected to register stable growth during the forecast period. Additionally, emerging markets are expected to continue to grow slightly faster than developed markets in the forecast period. Stable economic growth is expected to increase investments in the end-user markets, thereby driving the market during the forecast period. The outbreak of COVID-19 disease (COVID-19) has acted as a massive restraint on the pet food manufacturing market in 2020 as supply chains were disrupted due to trade restrictions and consumption declined due to lockdowns imposed by governments globally. COVID-19 is an infectious disease with flu-like symptoms including fever, cough, and difficulty breathing. The virus was first identified in 2019 in Wuhan, Hubei province of the People’s Republic of China, and has spread globally, including Western Europe, North America, and Asia. Food and beverage manufacturers depend on the supply of raw materials from domestic and international suppliers. As many governments restricted the movement of goods across countries and locally, manufacturers had to halt production due to a lack of raw materials. Also, restrictions on the trade of non-essential goods and fear of contamination through manufacturing facilities contributed to the decline. The outbreak had a negative impact on businesses throughout 2020 and into 2021. However, it is expected that the pet food manufacturing market will recover from the shock over the forecast period as it is a "black swan" event and not related to ongoing or fundamental weaknesses in the market or the global economy. Pet food manufacturing companies are using automation technologies such as advanced production lines and software solutions to improve safety and operational efficiency. These technologies automate formulation, batching, drying, coating, and liquid delivery processes. This results in cost-effective processing and consistent product quality. For example, Champion Petfoods, a Canadian producer of pet food, has video-monitored production lines, with cooking processes connected through Rockwell hardware and software systems. It also uses bulk bins and conveying systems, votator heat exchangers, and advanced extrusion and drying systems. United Pet Group’s pet food manufacturing plant in St. Louis used FactoryTalk software from Rockwell Automation to reduce overtime by 10% and increase labor efficiency by 15%. Major companies in the market include Mars Incorporated, Nestle S.A., Diamond Pet Foods Inc., J.M. Smucker Company, Colgate-palmolive co, Hill's Pet Nutrition, General Mills, InVivo Animal Nutrition, and Health, Unicharm Corporation, and Ingredion Incorporated. North America was the largest region in the pet food market in 2022. Western Europe was the second-largest region in the pet food market. The regions covered in the pet food market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the pet food market are Argentina, Australia, Austria, Belgium, Brazil, Canada, Chile, China, Colombia, Czech Republic, Denmark, Egypt, Finland, France, Germany, Hong Kong, India, Indonesia, Ireland, Israel, Italy, Japan, Malaysia, Mexico, Netherlands, New Zealand, Nigeria, Norway, Peru, Philippines, Poland, Portugal, Romania, Russia, Saudi Arabia, Singapore, South Africa, South Korea, Spain, Sweden, Switzerland, Thailand, Turkey, UAE, UK, USA, Venezuela, and Vietnam. The pet food market consists of sales of dry dog food, dog treats, wet dog food, wet cat food, dry cat food, cat treats, and other pet food. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The global pet food market is segmented - 1) By Type: Dog And Cat Food, Other Pet Food 2) By Distribution Channel: Specialized Pet Shops, Internet Sales, Hypermarkets, Other Distribution Channels 3) By Ingredients: Animal Derivatives, Plant Derivatives, Synthetic Subsegments Covered: Dog Food, Cat Food

Animal medicines refer to a collective term for drugs and therapies, including veterinary vaccines, veterinary antibiotics, and other veterinary pharmaceuticals, that are used to treat animal diseases to improve animals’ performance and health by identifying disease symptoms and drugs for the cure of illness. The main types of animal medicines are veterinary pharmaceuticals and feed additives, which are used for livestock and companion animals. Veterinary pharmaceuticals refer to animal medicine that is given to animals for treating diseases. Animal medicine is used by veterinary hospitals, pharmacies, drug stores, and veterinary clinics. The animal medicine research report is one of a series of new reports from The Business Research Company that provides animal medicine statistics, including animal medicine industry global market size, regional shares, competitors with animal medicine shares, detailed animal medicine segments, market trends and opportunities, and any further data you may need to thrive in the animal medicine industry. This animal medicine research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry. The global animal medicine market grew from $46.91 billion in 2022 to $50.47 billion in 2023 at a compound annual growth rate (CAGR) of 7.6%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, and affecting many markets across the globe. The animal medicine market is expected to grow from $65.12 billion in 2027 at a CAGR of 6.6%. The increasing penetration of pet insurance is expected to drive the animal medicine market. Globally, the pet insurance market is largely untapped with extremely low penetration rates, providing a large market opportunity. In developed economies such as the USA, the pet insurance penetration rate is around 1%, although in Western European countries such as the UK, the penetration rate is around 20%. During the forecast period, the pet insurance market in the USA is expected to grow by $2 billion in 2022, at a compound annual growth rate of 14%, mainly driven by the increasing consumer awareness and rising disposable income of companion animal owners. Increasing penetration of pet insurance will increase the number of visits at veterinary clinics supporting the use of animal medicine in the treatment of different diseases The outbreak of COVID-19 disease (COVID-19) has acted as a massive restraint on the animal medicine market in 2020 as supply chains were disrupted due to trade restrictions and consumption declined due to lockdowns imposed by governments globally. COVID-19 is an infectious disease with flu-like symptoms including fever, cough, and difficulty breathing. The virus was first identified in 2019 in Wuhan, Hubei province of the People’s Republic of China, and has spread globally, including Western Europe, North America, and Asia. Steps by national governments to contain the transmission have resulted in a decline in economic activity with countries entering a state of "lock down" and the outbreak hurting businesses throughout 2020 and into 2021. However, it is expected that the animal medicine market will recover from the shock over the forecast period as it is a "black swan" event and not related to ongoing or fundamental weaknesses in the market or the global economy. Nanotechnology is increasingly gaining traction in the animal medicine market as a substitute for veterinary antibiotics. Nanotechnology is the study of controlling matter on an atomic and molecular scale. In the animal medicine industry, nanotechnology is used to improve diagnosis, treatment, animal growth promotion, and production. Nanoparticles are mainly used as alternative antimicrobial agents to reduce the use of antibiotics and improve the detection of pathogenic bacteria. They are also used as drug delivery agents for new drugs and vaccine candidates to improve their characteristics and performance and to reduce drug resistance in animal organisms. Major companies in the animal medicine market include Zoetis Inc., Boehringer Ingelheim GmbH, Merck & Co, Evonik Industries AG, Patterson Companies Inc., Ceva Animal Health LLC – Biomune, Phirbo Animal Health, Dechra Pharmaceuticals, Virbac Group, and Vetoquinol S.A. North America was the largest region in animal medicine market in 2022. Asia-Pacific was the second-largest region in the animal medicine market. The regions covered in the animal medicine report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. The countries covered in the animal medicine market include Argentina, Australia, Austria, Belgium, Brazil, Canada, Chile, China, Colombia, Czech Republic, Denmark, Egypt, Finland, France, Germany, Hong Kong, India, Indonesia, Ireland, Israel, Italy, Japan, Malaysia, Mexico, Netherlands, New Zealand, Nigeria, Norway, Peru, Philippines, Poland, Portugal, Romania, Russia, Saudi Arabia, Singapore, South Africa, South Korea, Spain, Sweden, Switzerland, Thailand, Turkey, UAE, UK, USA, Venezuela, and Vietnam. The animal medicine market consists of sales of procuring drugs to shield against external parasites like fleas, ticks, and heartworms (intestinal parasites). Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The global animal medicine market is segmented - 1) By Type: Veterinary Pharmaceuticals, Feed Additives 2) By Type of Animal: Livestock, Companion Animals 3) By End-Use: Veterinary Hospitals, Pharmacies And Drug Stores, Veterinary Clinics Subsegments Covered: Veterinary Vaccines, Veterinary Antibiotics, Veterinary Parasiticides, Other Veterinary Pharmaceuticals, Medical Feed Additives, Nutritional Feed Additives

Insurance is a contract under which an individual or entity receives financial protection or reimbursement/compensation for any damages from an insurance company. The main types of insurance are life insurance, property and casualty insurance, and health and medical insurance. Life insurance is a type of insurance that covers a person's lifetime critical benefits package. The various modes are online and offline. The services are used by corporate and individual end-users. The insurance research report is one of a series of new reports from The Business Research Company that provides insurance statistics, including insurance industry global market size, regional shares, competitors with insurance shares, detailed insurance segments, market trends and opportunities, and any further data you may need to thrive in the insurance industry. This insurance research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry. The global insurance market grew from $5946.74 billion in 2022 to $6466.23 billion in 2023 at a compound annual growth rate (CAGR) of 8.7%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The insurance market is expected to grow to $8603.8 billion in 2027 at a CAGR of 7.4%. The rapid growth in internet penetration and the increased risks associated with internet use for critical transactions are driving the demand for cyber insurance. Cyber insurance covers internet-based risks and risks related to information technology infrastructure. It also covers property theft, business interruption, software and data loss, cyber extortion, network failure liability, cyber-crime, and physical asset damage. For instance, in 2021, according to the National Health Authority of India, an Indian government agency, there were 1.18 billion mobile connections, 600 million smartphones, and 700 million Internet users in India, which is increasing by 25 million every quarter. Therefore, the rapid growth in internet penetration and the increased risks associated with internet use drive the insurance market. Peer-to-peer insurance is gradually gaining prominence both in emerging and developed markets, driven by the reduced cost of premiums in emerging countries resulting from improved internet penetration in those regions. Peer-to-peer insurance is based on pooling insurance premiums of participating individuals that can be used to compensate for future uncertain losses and share the left-over amount among participants. It aims to reduce premium and overhead costs compared to traditional insurance providers, decrease inefficiencies, and increase the transparency of businesses. Major companies in the insurance market include Allianz Group, Ping An Insurance, Axa Group, Anthem Inc., China Life Insurance, Centene, People's Insurance Company of China, Humana, Assicurazioni Generali S.p.A., and Japan Post Group North America was the largest region in the insurance market in 2022. Asia-Pacific was the second largest region in the insurance market. The regions covered in the insurance market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa. The countries covered in the insurance market are Argentina, Australia, Austria, Belgium, Brazil, Canada, Chile, China, Colombia, Czech Republic, Denmark, Egypt, Finland, France, Germany, Hong Kong, India, Indonesia, Ireland, Israel, Italy, Japan, Malaysia, Mexico, Netherlands, New Zealand, Nigeria, Norway, Peru, Philippines, Poland, Portugal, Romania, Russia, Saudi Arabia, Singapore, South Africa, South Korea, Spain, Sweden, Switzerland, Thailand, Turkey, UAE, UK, USA, Venezuela, and Vietnam. The insurance market consists of sales of insurance products by entities that undertake underwriting (assuming the risk and assigning premiums) on annuities and insurance policies. Insurance providers invest premiums to build up a portfolio of financial assets to be used against future claims. Direct insurance providers are entities that are engaged in primary underwriting and assuming the risk of annuities and insurance policies. Reinsurance providers are businesses that assume all or part of the risk associated with an existing insurance policy or set of policies, originally underwritten by another insurance carrier (direct insurance carrier). The insurance industry is categorized on the basis of the business model of the firms present in the industry. Some insurance firms may offer other services financial or otherwise. Contributions and premiums are set on the basis of actuarial calculations of probable payouts based on risk factors from experience tables and expected investment returns on reserves. The value of the market is based on the premiums paid by those insured, both commercial and personal. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The global insurance market is segmented - 1) By Type: Life Insurance, Property And Casualty Insurance, Health And Medical Insurance 2) By End User: Corporate, Individual 3) By Mode: Online, Offline Subsegments Covered: Term Life Insurance, Whole Life Insurance, Variable Life Insurance, Equity Indexed Life Insurance, Accidental Death Insurance, Other Life Insurance, Automobile Insurance Carriers, Malpractice/Indemnity Insurance Carriers, Fidelity Insurance Carriers, Mortgage Guaranty Insurance Carriers, Homeowners Insurance Carriers, Surety Insurance Carriers, Liability Insurance Carriers, Hospitalization Insurance, Hospital Daily Cash Benefit Insurance, Critical Illness Insurance, Domiciliary Insurance, Other Health & Medical Insurance

Companion animal vaccines are substances that are used to stimulate the production of antibodies and provide immunity against one or several diseases in pets such as dogs, birds, and cats. They are also used to improve food digestion, enhance immunity, enable animals to gain fat and weight, and generate good quality meat that is harvested for commercial purposes. The main products of companion animal veterinary vaccines are inactivated, live attenuated, recombinant, and other products. A recombinant vaccine is one that was created using recombinant DNA technology. This entails inserting DNA encoding an antigen (such as a bacterial surface protein) that triggers an immunological response into bacterial or mammalian cells, expressing the antigen in these cells, and then purifying it from them. The products are administered through oral, parenteral, and other routes of administration and are distributed through veterinary hospitals, veterinary clinics, pharmacies, drug stores, and other distribution channels. The companion animal veterinary vaccines research report is one of a series of new reports from The Business Research Company that provides companion animal veterinary vaccines statistics, including companion animal veterinary vaccines industry global market size, regional shares, competitors with companion animal veterinary vaccines share, detailed companion animal veterinary vaccines segments, market trends and opportunities, and any further data you may need to thrive in the companion animal veterinary vaccines industry. This companion animal veterinary vaccines research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry. The global companion animal veterinary vaccines market size will grow from $3.25 billion in 2022 to $3.47 billion in 2023 at a compound annual growth rate (CAGR) of 6.7%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global companion animal veterinary vaccines market size is expected to grow to $4.48 billion in 2027 at a CAGR of 6.6%. Increased pet ownership by Gen X and Gen Y adults contributed to the growth of the companion animal veterinary vaccine market during the historic period. According to the APPA, millennials, or Gen Y, represent the largest segment of pet owners for all types of pets. More than 80% of Gen Y and Gen Z own a dog, and 50% or less own a cat as a pet. Multiple pet ownership is also on the rise in some parts of the world. According to the 2019-2020 APPA National Pet Owners Survey, 67% of US households own pets, which is equal to 84.9 million homes. Pet owners are well aware of advanced facilities and are willing to spend a large amount of money on the health of their pets. Therefore, the rise in pet ownership aids in the growth of the companion animal veterinary vaccine market. The high cost of veterinary vaccines is expected to restrain the growth of the market. According to data from Harris Interactive, in the USA, households with pets spend about $1,000 on pet care. There are around 70% of households in the USA who own a pet and only 39% have enough in their savings to cover high spending related to pet care. According to a report by PET IQ, in the USA, nearly 28% of households experienced barriers to veterinary care in the past two years. 80% of pet owners are unable to obtain preventative care due to financial constraints. There are several instances when it happens that the pet owners cannot afford expensive animal treatment and this factor restrained the growth of the companion animal veterinary vaccines market. Usually, the average cost of the rabies vaccine varies, typically from about $1,200 to $6,500. Thus, the high cost of companion animal veterinary vaccines will restrain the growth of the market over the forecast period. Companies in the companion animal veterinary vaccine industry are increasingly collaborating and partnering with other players to drive product innovations. To succeed in the increasingly competitive veterinary market, companion animal veterinary vaccine companies are entering into new geographies and developing innovative products through sharing skills and expertise with other players. For instance, Merck & Co.’s subsidiary MSD Animal Health announced a strategic partnership with Vinovo B.V., a division of Viscon Hatchery Automation, the leading hatchery automation company, to provide a new standard in safe and effective Vinovo vaccination to improve bird welfare and reduce vaccine reactions. In February 2020, Zoetis, Inc., a US-based animal health company specializing in the discovery, development, production, and marketing of animal health drugs, acquired Ethos Diagnostic Science for an undisclosed amount. Through this acquisition, Zoetis continues to expand its diagnostics presence in order to provide American veterinarians with comprehensive services at an improved value. Ethos Diagnostic Science is a US-based veterinary diagnostic company pioneering in various types of diagnostic testing and clinical chemistry. Major players in the companion animal veterinary vaccines market are Boehringer Ingelheim, Eli Lilly and Company (Elcano), Heska Co., Merck Animal Health, Virbac, Zoetis, ElancoCevaSante Animal S.A., Bayer Healthcare, NEOGEN CORPORATION, and ImmuCell Corporation. North America was the largest region in the companion animal veterinary vaccines market in 2022. Asia-Pacific was the second-largest region in the global companion animal veterinary vaccines market. The regions covered in the global companion animal veterinary vaccines market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. The countries covered in the companion animal veterinary vaccines market are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA. The companion animal veterinary vaccine market consists of sales of toxoid vaccines, viral vector vaccines, messenger RNA vaccines, and conjugated vaccines. Values in this market are factory gate values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The global companion animal veterinary vaccines market is segmented - 1) By Product: Inactivated, Live Attenuated, Recombinant, Other Products 2) By Route Of Administration: Oral, Parenteral, Other Routes Of Administration 3) By Distribution Channel: Veterinary Hospitals, Veterinary Clinics, Pharmacies And Drug Stores, Other Distribution Channels

The pet wearable are devices that can be worn on the pet's body such as dogs, cats, and other pets to serve various purposes, such as identification, tracking, monitoring, controlling, medical diagnosis, treatment, facilitation, safety, and security. These products are utilized to collect the data which is tracked through a companion app installed on the pet owner's smart device. The main types of products in pet wearables are smart collars, smart cameras, smart harnesses and vests, and others. The smart collar market provides smart collars to pet stores, veterinary hospitals, and individual pet owners. Smart collar allows pet owners to track the location of their pets. The technologies used in pet wearables are RFID devices, GPS, sensors, Bluetooth, and others. These wearables are used for identification and tracking, monitoring and control, medical diagnosis and treatment, and others. The pet wearable market research report is one of a series of new reports from The Business Research Company that provides pet wearable market statistics, including pet wearable industry global market size, regional shares, competitors with a pet wearable market share, detailed pet wearable market segments, market trends and opportunities, and any further data you may need to thrive in the pet wearable industry. This pet wearable market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry. The global pet wearable market size grew from $2.47 billion in 2022 to $2.85 billion in 2023 at a compound annual growth rate (CAGR) of 15.6%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services, and affecting many markets across the globe. The pet wearable market size is expected to grow to $5.24 billion in 2027 at a CAGR of 16.4%. The rise in demand for pet monitoring globally contributed to the pet wearable market’s growth. Pet owners often view pets as family members and are willing to spend on pet products and services. According to a COVID-19 Pulse Study 2020, conducted by the American Pet Products Association, 11.38 million U.S. families brought new pets during the pandemic. Furthermore, 72% of respondents in the study stated that their pet’s diet and health were of utmost priority for them. Additionally, according to the Pet Food Manufacturers Association, a UK-based trade body for the pet food industry, 3.2 million households in the UK acquired a new pet during the COVID-19 pandemic. The increase in the number of pets indicates a rise in demand for pet-related goods, including pet wearable devices. Companies operating in the pet wearable market are increasingly adopting IoT (Internet of things) technology in pet tracking devices to allow pet owners to seamlessly track the activity and location of their pets. IoT-enabled pet tracking devices utilize IoT technology that uses GPS (Global Positioning System) or cellular tower triangulation to pinpoint the tracker’s location. This data can be accessed by a companion application that is installed on the pet owner’s smartphone. The advantages of IoT-enabled pet trackers include high precision in location tracking, geofencing notifications if the pet leaves a specified area, and longer battery life. For instance, in September 2021, Vodafone Group PLC, a UK-based multinational telecommunications company, launched the Curve Smart GPS tracker pack which is an IoT-enabled tracker which can be used to accurately pinpoint the pet’s location. In November 2021, Life360 Inc., a US-based information technology company leader in family location and safety services including pets acquired Jiobit for a deal of $37 million . Through this acquisition, Life360 Inc aims to be the leader in both hardware and software products for families and pets in the US market. Jiobit is a US-based company operating in wearable devices and solutions. Major players in the pet wearable market are Allflex USA Inc., Avid Identification Systems Inc., Dairymaster, Datamars Inc., Felcana, FitBark Inc., Garmin Ltd., GoPro Inc., Intervet Inc., Invisible Fence, Konectera Inc., Scollar Inc., Tractive GmbH, Trovan Ltd., PetPace Ltd., Motorola Mobility LLC, Num’Axes, Dogtra, Dog Tracker Nano, DeLaval Inc., Furbo, GIBI Technologies, Nedap, Omnia Technologies, Pawbo Inc., Indiegogo Inc., Invoxia, and Jiobit. North America was the largest region in the pet wearable market in 2022. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the pet wearable report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in the pet wearable market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA. The pet wearables market consists of sales of GPS pet tracker, dog and cat collar attachment. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The global pet wearable market is segmented - 1) By Product Type: Smart Collar, Smart Camera, Smart Harness and Vest, Other Product Types 2) By Technology: RFID Devices, GPS, Sensor, Bluetooth, Other Technologies 3) By Application: Identification and Tracking, Monitoring and Control, Medical Diagnosis and Treatment, Other Applications

Veterinary vaccine refers to a biological preparation that stimulates the immune response of an animal against disease in order to reduce animal suffering and the transmission of microorganisms in the animal population and enhance the immunity power of animals by improving animal health, which also prevents the transmission of diseases from animals to humans. The various types of veterinary vaccines are live attenuated vaccines, inactivated vaccines, toxoid vaccines, recombinant vaccines, and other vaccine types. Inactivated vaccines differ from live but attenuated vaccines as they are made up of dead, or inactivated, viruses and bacteria. The disease types are anaplasmosis, canine parvovirus, foot and mouth disease, Newcastle disease, distemper disease, influenza, and porcine reproductive and respiratory syndrome, and the application areas include livestock vaccines, and companion animal vaccines. The veterinary vaccines research report is one of a series of new reports from The Business Research Company that provides veterinary vaccines statistics, including veterinary vaccines industry global market size, regional shares, competitors with veterinary vaccines share, detailed veterinary vaccines segments, market trends and opportunities, and any further data you may need to thrive in the veterinary vaccines industry. The veterinary vaccines research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry. The global veterinary vaccines market size will grow from $10.89 billion in 2022 to $11.57 billion in 2023 at a compound annual growth rate (CAGR) of 6.2%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global veterinary vaccines market size is expected to grow to $14.2 billion in 2027 at a CAGR of 5.3%. The increase in the number of animals suffering from a range of diseases is increasing the demand for vaccines to prevent and treat such diseases, thus driving the veterinary vaccines market According to the estimates from a report by the Animal and Plant Health Agency, a total of 3289 new TB herd incidents were detected in England Bovine tuberculosis is a chronic disease that usually affects animals such as cattle, but it can affect all mammals, causing a general state of illness, coughing and eventually leading to death. However, the disease can be treated with specific antibiotics that kill the TB bacteria. This rising prevalence of diseases in animals is expected to drive the veterinary vaccines market during the forecast period. High storage costs are acting as a major restraint on the growth of the veterinary vaccine market. Improper storage conditions and delays in shipping can cause vaccines to lose their desired immune properties. For example, during transportation, vaccines can undergo biodegradation, if they are not transported within the required temperature limits. Thus, special care is required for the transportation of the vaccines to maintain their efficiency, which increases the storage and transportation costs for the vaccines. According to a report published by the National Institute of Standards and Technology (NIST), approximately 35% of vaccines lost their potency during the shipment, as they were stored at abnormal temperatures. Thus, high storage costs for vaccines are expected to result in additional costs for manufacturing companies and limit the growth of the market. Companies in the veterinary vaccines market are increasingly looking for strategic partnerships and collaborations to enter into new geographies and to share research and development projects. For example, in 2020, the Pirbright Institute, a UK-based animal disease research institute, partnered with ECO Animal Health, a UK-based pharmaceutical company, and the Vaccine Group (TVG) to develop porcine respiratory and reproductive syndrome virus (PRRSV) vaccines. The vaccine group is a biotechnology company that develops animal vaccines and is based in Plymouth, UK. Similarly, MSD Animal Health, a division of Merck & Co with headquarters in the US, made a strategic partnership with Vinovo. This partnership will help MSD Animal Health to combine its unique broad vaccine product line and Vinovo’s vaccine delivery system to the vaccination process, thus improving bird welfare, and reducing vaccine reactions. Also, Wageningen bio veterinary research made a strategic alliance with Ceva with headquarters in Switzerland, to improve their Research on the global threat of emerging and reemerging diseases for animals. The veterinary vaccines market is regulated by authorities such as the European Medical Agency and the US Center for Veterinary Biologics. For instance, veterinary vaccine companies in Europe are required to adhere to European technical requirements mentioned in Annex 1, Title II, of Directive 2001/82/EC, as amended by Directive 2009/9/EC, and the European Pharmacopoeia (Ph. Eur.). According to these regulations, veterinary vaccines are required to undergo safety tests before getting approval, where vaccines are classified into activated vaccines and inactivated vaccines. For inactivated vaccines, each batch of vaccines should have a dose that is double the standard dose. In inactivated vaccines, each batch of vaccines should be ten times the standard dose for the active vaccines. Activated vaccines are usually tested by in vitro titration, while serological tests are commonly used for inactivated vaccines. Major players in the veterinary vaccines market are Boehringer Ingelheim GmbH, Merck Animal Health, Zoetis Inc., Eli Lilly and Company, Bayer AG (Bayer Animal Health), CevaSantéAnimale, Virbac, Biovac, Zoetis Animal Healthcare, and Hester Biosciences Ltd. North America was the largest region in the veterinary vaccines market in 2022. Asia-Pacific was the second-largest region in the global veterinary vaccines market. The regions covered in the global veterinary vaccines report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. The countries covered in the veterinary vaccines market are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA. The veterinary vaccines market consists of sales of messenger RNA vaccine, viral vector vaccine, and subunit vaccine. Values in this market are factory gate values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The global veterinary vaccines market is segmented - 1) By Application: Livestock Vaccines, Companion Animal Vaccines 2) By Vaccine Type: Live Attenuated Vaccines, Inactivated Vaccines, Toxoid Vaccines, Recombinant Vaccines, Other Vaccine Types 3) By Disease Type: Anaplasmosis, Canine Parvovirus, Foot And Mouth Disease, Newcastle Disease, Distemper Disease, Influenza, Porcine Reproductive And Respiratory Syndrome (PRRS)

Veterinary parasiticides refer to the class of animal medications that eliminate parasites by inhibiting the activity of acetylcholinesterase to treat pets, livestock, and other animals from diseases caused by helminths, amoeba, ectoparasites, parasitic fungi, protozoa, and other parasites to improve the animals’ health. The main types of veterinary parasiticides are endoparasiticides, ectoparasiticides, and endectocides. Endectocides are medications that are administered directly to hosts to kill endoparasites and ectoparasites, primarily blood-feeding arthropods. The product types include oral liquids, tablets, injectables, sprays, and other products applied on farm animals, and companion animals that are used by R&D facilities, farms, and veterinary clinics. The veterinary parasiticides research report is one of a series of new reports from The Business Research Company that provides veterinary parasiticides statistics, including veterinary parasiticides industry global market size, regional shares, competitors with veterinary parasiticides share, detailed veterinary parasiticides segments, market trends and opportunities, and any further data you may need to thrive in the veterinary parasiticides industry. This veterinary parasiticides research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry. The global veterinary parasiticides market size will grow from $12.24 billion in 2022 to $12.93 billion in 2023 at a compound annual growth rate (CAGR) of 5.6%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global veterinary parasiticides market size is expected to grow to $15.51 billion in 2027 at a CAGR of 4.7%. Animals are increasingly being affected by zoonotic pathogens, which are the leading cause of foodborne diseases worldwide. Zoonotic diseases are infectious diseases caused by bacteria, viruses, and parasites, especially Salmonella and Campylobacter, which can be transmitted directly or indirectly between animals and humans. These diseases get passed through the food chain to humans which is a potential threat and creates a dire need to prevent such diseases among animals. According to the FDA, in 2020, about 128,000 hospitalizations and 3,000 deaths were reported in America due to foodborne illness. The necessity to curb these infections in animals drives the market for veterinary parasiticides. Lack of awareness about animal diseases due to limited information on microbes and their impact on wildlife and livestock diseases restrains the veterinary parasiticides industry. Lack of awareness about the occurrence of zoonotic diseases and their impact on public health is a major hurdle for the animal parasiticides market. This lack of awareness does not allow people to adopt the parasiticides for livestock and wildlife, which not only control different parasitic diseases but also improve animal health. For instance, Proceedings of the National Academy of Sciences (PNAS) reported that only ten diseases account for around 50% of all published knowledge on diseases at the wildlife-livestock interface and the analysis was based on almost 16,000 publications from the last century. The lack of knowledge and awareness will restrain the growth of the market. Chewable tablets are being used to prevent animals from being affected by ticks, worms, fleas, and others. Treatments with these tablets are easier to administer. The chewable tablets are available in either a beef-flavored tablet or soft chew. For instance, the IVERHART MAX chewable tablets protect dogs from the 4 most common worms: heartworms (infection caused by the bite of an infected mosquito), roundworms, hookworms (affects the intestines), and tapeworms (caused by ingesting an infected flea). Such advances in technology are significantly driving the veterinary parasiticides industry. The veterinary parasiticides market is regulated by government agencies such as the European Medicines Agency (EMA), USFDA (the US Food and Drug Administration), and others. For instance, under the directive 2008/97/EC of the European Parliament, certain products and drugs which contain substances having a hormonal or thyrostatic action and beta-agonists are banned. Meat or products from food-producing animals which have an oestrogenic, androgenic, or gestagenic action of beta-agonists are prohibited for human consumption unless those animals have been treated with veterinary medicine complying with the requirements of Article 6 of Council Directive 96/22/EC. Major players in the veterinary parasiticides market are Bayer AG, Zoetis, Boehringer Ingelheim, Merck, Eli Lilly and Company, Virbac, Ceva Animal Health, Inc., Merial, Perrigo Company, and Vetoquinol, and Intas Pharmaceuticals Ltd. North America was the largest region in the veterinary parasiticides market in 2022. Asia-Pacific was the second-largest region in the global veterinary parasiticides market. The regions covered in the global veterinary parasiticides market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. The countries covered in the veterinary parasiticides market are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA. The veterinary parasiticides market consists of sales of macrocyclic lactones, benzimidazoles, imidazothiazoles, piperazines, and salicylanilides. Values in this market are factory gate values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The global veterinary parasiticides market is segmented - 1) By Type: Endoparasiticides, Ectoparasiticides, Endectocides 2) By End Users: R&D Facilities, Farms, Veterinary Clinics 3) By Product: Oral Liquids, Tablets, Injectables, Sprays, Other Products 4) By Application: Farm Animals, Companion Animals

Veterinary patient monitoring equipment refers to a type of devices and instruments that continuously track and record changes in patient wellbeing, monitor animals' respiration, blood pressure, and other vital signs, and provide warning systems. These systems are used to continuously monitor the animals to detect diseases at early stages to prevent any risks. The main types of veterinary patient monitoring equipment are cardiac monitoring devices, respiratory monitoring devices, remote patient monitoring devices, multi-parameter monitoring devices, neuromonitoring devices, and other products. The cardiac monitoring devices refer to the devices that deal with animal cardiac diseases. These are used for animals such as small companion animals, large companion animals, wild animals, zoo animals, aquatic animals, and exotic animals. Veterinary patient monitoring equipment is used in veterinary hospitals, veterinary clinics, and veterinary research centers. The veterinary patient monitoring equipment research report is one of a series of new reports from The Business Research Company that provides veterinary patient monitoring equipment statistics, including veterinary patient monitoring equipment industry global market size, regional shares, competitors with veterinary patient monitoring equipment shares, detailed veterinary patient monitoring equipment segments, market trends and opportunities, and any further data you may need to thrive in the veterinary patient monitoring equipment industry. This veterinary patient monitoring equipment research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry. The global veterinary patient monitoring equipment market size will grow from $0.42 billion in 2022 to $0.45 billion in 2023 at a compound annual growth rate (CAGR) of 7.3%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global veterinary patient monitoring equipment market size is expected to grow from $0.58 billion in 2027 at a CAGR of 6.4%. An increase in the prevalence rate of diseases among animals serves as one of the major drivers for the veterinary patient monitoring equipment market. An increase in the incidence of diseases in livestock and companion animals will require monitoring equipment to diagnose the diseases in animals. For instance, according to the Banfield Pet Hospital's 2020 Veterinary Emerging Topics (VET) Report, more than 50% of the dogs at 1,000 hospitals in 2019 were overweight or obese. Overweight pets are more likely to suffer from joint disease, respiratory disease, and other preventable conditions. The increase in the prevalence rate of diseases for animals results in an increased demand for enhanced veterinary patient monitoring equipment. Veterinary patient monitoring equipment is highly expensive. The cost of equipment will be a significant expense for a veterinary clinic or hospital. For instance, the average wearable device ranges from $50 to $100 and will likely have a recurring software as a service (SaaS) fee to store and retrieve an animal’s health data analytics. These expenses hinder the growth of the veterinary patient monitoring equipment market. Veterinarians and pet or cattle owners are shifting to wearable technology to keep track of animal behavior. Wearable technology is smart electronic devices that are worn on the body or integrated with clothing or accessories and monitor body temperature, behavior, and movement. These wearable monitoring devices provide timely insights regarding the overall health of the animal and help the veterinarian provide an appropriate diagnosis for the animal. For instance, Vetrax, a wearable sensor worn on a dog’s collar, enables clinicians and pet owners to monitor aspects of an animal’s behaviour when they are unsupervised. According to a report by Veterinary Practice News, 83% of pet owners are satisfied with the use of wearable technology and 68% find it an effective way of monitoring the weight and diabetes of their pets. The veterinary patient monitoring equipment market is regulated by government agencies such as the European Medicines Agency (EMA), USFDA (the US Food and Drug Administration), and others. The EMA should certify the medical devices before they are marketed. The EMA verifies the safety and quality of the devices before they can be certified and approved for use throughout the European Union. The EMA requires all devices to comply with the regulations stated under Directive 2001/82/EC and Regulation (EC) No. 726/2004. In August 2020, Merck Animal Health, a US-based company specializing in veterinary products, technologies, and services, acquired IdentiGEN Ltd. for an undisclosed amount. Through this acquisition, Merck offers animal monitoring for food producers, processors, and retailers who are searching for precise and comprehensive animal traceability solutions that offer full accountability as well as increased transparency, food quality, and sustainability for consumers. In combination with Merck's current identification and monitoring technology, which provides real-time, actionable data and insights to aid in, improve, or enhance animal management and health outcomes, the addition of specialized digital technology to our portfolio of medications, vaccines, and services offers comprehensive solutions to help advance animal health. IdentiGEN Ltd. is a land-based company pioneering in DNA-based analysis and diagnostics for animal health monitoring. Major players in the veterinary patient monitoring market are Smiths Group plc; Hallowell Engineering & Manufacturing Corporation; DRE Veterinary; Digicare Biomedical Technology Inc.; Midmark Corporation; Medtronic PLC.; Jorgensen Laboratories; Vetland Medical Sales and Services LLC; Jorgen Kruuse A/S; Mila International Inc.; and Mindray Medical International Limited. North America was the largest region in the veterinary patient monitoring market in 2022. Asia-Pacific was the second-largest region in the global veterinary patient monitoring market. The regions covered in the global veterinary patient monitoring equipment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in the veterinary anesthesia equipment market are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, South Korea, Russia, UK, and USA. The veterinary patient monitoring equipment market consists of sales of bedside patient monitoring systems, renal patient monitoring devices, circulatory system patient monitoring devices, and obesity patient monitoring devices. Values in this market are factory gate values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The global veterinary patient monitoring equipment market is segmented - 1) By Product: Cardiac Monitoring Devices, Respiratory Monitoring Devices, Remote Patient Monitoring Devices, Multi-Parameter Monitoring Devices, Neuromonitoring Devices, Other Products 2) By End User: Veterinary Hospitals, Veterinary Clinics, Veterinary Research Centers 3) By Animal: Small Companion Animals, Large Companion Animals, Wild Animals, Zoo Animals, Aquatic Animals, Exotic Animals