The Demand for Pet Health Insurance Which In Turn Is Likely To Boost Growth of the Heartworm Treatment Market
Heartworm disease is generally found in pets including cats and dogs which could be fatal in severe conditions. The pets are affected by the heartworm disease due to mosquitoes that carry heartworm larvae. It may cause several health issues, making heartworm treatment highly crucial which cannot be ignored. Rise in adoption of pets along with growing awareness of such diseases is expected to increase the adoption of heartworm treatment measures. The market for heartworm treatment is projected to witness a significant growth in the coming years with rising demand for animal welfare and increasing incidence of fatal disease in pets.
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This has led to surge in the demand for pet health insurance which in turn is likely to boost growth of the heartworm treatment market. Although rising healthcare expenditure indicates a positive outlook of the heartworm treatment market, high-cost associated with the preventive measures may create hindrance in the growth of heartworm treatment market. Further, lack of awareness of the treatment in several regions will possibly confine the market growth.
Heartworm treatment deals with the prevention and treatment of heartworm diseases. The overall veterinary treatment market has been growing in the past few years, due to the increasing awareness towards veterinary healthcare. Heartworm disease is a severe, fatal disease, which is generally found in pets. Heartworm disease is usually caused by foot-long worms present in the lungs, heart, and associated blood vessels of affected pets. Heartworm disease causes severe heart failure, lung disease, and damage to other organs in the body.
Heartworm Treatment Market: Drivers and Restraints
The rising incidence of disease in animals and implementation of stringent regulations to prevent animal diseases are the factors driving the growth of the global heartworm treatment market. Furthermore, the increasing demand for pet health insurance and rising healthcare expenditure are further boosting the global heartworm treatment market. However, high treatment cost is expected to hamper the growth of the global heartworm treatment market.
Heartworm Treatment Market: Regional Outlook
Geographically, the global heartworm treatment market is segmented into, viz. North America, Latin America, Europe, Asia Pacific excluding Japan (APEJ), Japan, and the Middle East and Africa (MEA). North America is expected to hold maximum market share in the heartworm treatment market, owing to established healthcare facilities and a rise in healthcare expenditure. The Asia Pacific heartworm treatment market is one of the fastest growing markets at the highest CAGR, due to the presence of lenient regulations. Furthermore, the increasing focus of pet owners towards animal health and safety has boosted the growth of the heartworm treatment market.
Heartworm Treatment Market: Key Players
Some of the key players operating in the global heartworm treatment market are Boehringer Ingelheim, Mylan N.V., AdvaCare Pharma, Pfizer Inc., Zoetis Services LLC, Bristol-Meyers Squibb Co, and others.
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, and inputs from industry experts and industry participants across the value chain. The report provides an in-depth analysis of parent market trends, macro-economic indicators, and governing factors, along with market attractiveness as per segment. The report also maps the qualitative impact of various market factors on market segments and geographies.
Heartworm Treatment Market: Segmentation
Tentatively, the global heartworm treatment market is segmented on the basis of treatment, distribution channel, and geography.
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Based on treatment, the global heartworm treatment market is segmented as:
- Prednisone Injections
- Doxycycline Injections
- Melarsomine Injections
Based on distribution channel, the global heartworm treatment market is segmented as:
- Veterinary Hospitals
- Veterinary Clinics
Regional analysis includes:
- North America (U.S., Canada) Heartworm Treatment Market
- Latin America (Mexico, Brazil) Heartworm Treatment Market
- Western Europe (Germany, Italy, U.K, Spain, France, Nordic countries, BENELUX) Heartworm Treatment Market
- Eastern Europe (Russia, Poland, Rest Of Eastern Europe) Heartworm Treatment Market
- Asia Pacific Excluding Japan (China, India, Australia & New Zealand) Heartworm Treatment Market
- Japan Heartworm Treatment Market
- Middle East and Africa (GCC, S. Africa, Rest Of MEA) Heartworm Treatment Market
- Detailed overview of parent market
- Changing market dynamics in the industry
- In-depth market segmentation
- Historical, current and projected market size in terms of volume and value
- Recent industry trends and developments
- Competitive landscape
- Strategies of key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on market performance
- Must-have information for market players to sustain and enhance their market footprint.
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