With Growing Number of Pet Parents and Care Awareness, Heartworm Treatment Market is Witnessing Promising Growth
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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Increasing Pet Care Awareness is Helping Product Uptake
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 disease affects pets like cats, dogs, and ferrets. In addition, these worms also live in other mammal species such as coyotes, wolves, sea lions, foxes, and others. Species like coyotes and foxes live in proximity to many urban areas, thus, they are considered as important carriers of the heartworm disease. Dogs are considered to be a natural host for heartworms. It has also been found that, heartworm disease in cats is very different from heartworm disease in dogs.
Growing awareness about veterinary healthcare along with enforcement of stringent regulations to prevent animal diseases are expected to be the key factors driving heartworm treatment market. Heartworm treatment come in different forms which are available only by prescription from veterinarians. 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.
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Asia Pacific is Fastest Growing Geographical Segment
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.
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.
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