Market Dynamics

Rising number of pet owners across the globe, increasing consumer spending on pet health is resulting in demand for pet noise anxiety solutions which is major factor expected to drive the growth of global pet noise anxiety market. Noise anxiety is a major problem that dog owners face frequently. It is estimated that around 5 to 15 million dogs suffer from noise anxiety severe enough in the US. According to American Pet Products Association (APPA), sixty-seven percent of U.S. households, or about 85 million families, own a pet, according to the 2019-2020 survey. This is up from 56 percent of U.S. households in 1988, the first year the survey was conducted. Consumers are spending high amount on pet healthcare and insurance. Supplies of over-the-counter medicine and vet care accounted for over US$ 30 Bn in 2016. The total number of pets insured reached 2.43 million at year-end 2018, up by over 17 percent from 2017. Drug manufactures are investing high for R&D activities and are focused on introduction of innovative solution that is helpful for pet owners. In 2016, Zoetis Inc. a global producer of medicine and vaccinations for pets and livestock launched SILEO for Treatment of Noise Aversion in Dogs. SILEO helps in calming dogs while allowing them to interact normally with the family. This is expected to help the company to enhance the business and increase the customer base. Pet drug manufacturers are focused on enhancing the business through strategic acquisition which is expected to help the company to increase the product offerings. In 2019, Zoetis Inc. a global producer of medicine and vaccinations for pets and livestock acquired Platinum Performance, a privately held, nutrition-focused animal health company. This acquisition is expected to help the company to enhance the product offering and increase the revenue share.

Developing regulatory scenario related to pet adoption and medical treatment in developing countries and gradual increase in number of pet owners is resulting in manufacturers approach towards tracing the untapped market in developing region. Manufacturers are focused on shifting the production unit to emerging economies due to easy availability of raw material and low cost labor. Favorable business policies by the government and emergence of small & mid-size enterprises with innovative solutions are among other factors expected to support the revenue growth of global pet noise anxiety market. Factors such as high cost of medicine and stringent government regulations related to product approval are expected to hamper the growth of global pet noise anxiety market. In addition, high investment for R&D activities is expected to challenge the growth of target market. However, factors such as increasing investment for R&D activities, development of safe & reliable low-cost medications and increased product pipeline are expected to create new opportunities for players operating in the pet noise anxiety market over the forecast period. In addition, increasing partnership and agreements between regional and international players are factors expected to support the revenue transaction of the target market.

Segment Analysis by Region

The market in North America is expected to account for major revenue share in the global pet noise anxiety market due to increasing pet owner spending on healthcare. In addition,  increasing government spending on development of pet healthcare, presence of large number of players operating in the country and focus on launch of new products are factors expected to support the growth of pet noise anxiety regional market.

The market in Asia Pacific is expected to witness faster growth in the pet noise anxiety market due to rising number of pet owners. In addition, high spending capacity and rising concern related to pet health is expected to increase demand for oral medications this is expected to support the growth of target market.

Rising manufacturers focus on enhancing the business presence through strategic agreement and approach towards strengthening the distribution channel are factors expected to support the growth of pet noise anxiety regional market.

Competitive Landscape      

The global pet noise anxiety market is high highly competitive due to presence of large number of players and innovative product offerings. In addition, business expansion activities through partnerships and agreements are factors expected to further increase the competition.

Report coverage

Pet Noise Anxiety Market Segment Analysis, 2019

The global pet noise anxiety market is segmented into type, medication type, and end use. The type segment is bifurcated into pet medications, pet wraps, and others. Among the type pet medication segment is expected to account for major revenue share in the global market. The medication type segment is divided into oral type, smear type, and injection type. Among medication type the injection type segment is expected to account for significant revenue share in the target segment. The players profiled in the report are Zoetis, Adaptil, Pegasus Laboratories, Inc., Glaxo Smith Kline, Angelini Pharma Inc, Physicians Total Care, Inc., Pfizer Limited, Vets4Pets Limited, and Merck & Co., Inc.

Market Segmentation

Market By Type

Pet Medications

Pet Wraps

Others

Market By Medication Type

Oral Type

Smear Type

Injection Type

Market By End Use

Veterinary Hospitals

Veterinary Clinics

Pharmacies & Drug Stores

Others

Market By Region

North America

• U.S.
• Canada

Europe

• U.K.
• Germany
• France
• Spain
• Rest of Europe

Asia-Pacific

• China
• Japan
• India
• Australia
• South Korea
• Rest of Asia-Pacific

Latin America

• Brazil
• Mexico
• Rest of Latin America

Middle East & Africa

• GCC
• South Africa
• Rest of Middle East & Africa