Animal Depression Medication Market – Analysis And Forecast (2016-2024): Market Shares And Strategies Of Key Players

Animal-Depression-Medication-Market

Key players involved in the animal depression medication market

Major players in the global animal depression medication market include Torrent Pharmaceuticals Limited, Elite Pharma Private Limited, Biomax Laboratories, Intas Pharmaceuticals Limited, Cipla Limited, and Eli Lilly and Company. These companies provide drugs that are used to treat depression in animals.

Animal Depression Medication Market Overview

Emotions may be described as subjective, conscious experiences characterized by psychophysiological expressions, mental states, and biological reactions. Several tests such as cognitive bias test and leaned helplessness models have been developed to understand feelings of optimism and pessimism in animals. Cognitive biases have been shown in wide range of species, including rats, dogs, cats, sheep, and chicks.

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Depression in animals can be due to change in routine or change in emotions. Some animals can get depressed when left alone for long hours. Animals can also suffer from depression due to chemical imbalance, which can be treated with medication. Different animals have different reactions to depression. This can be spotted by looking out for ordinary behavior i.e. when an active animal becomes listless and a calm animal seems anxious. Animals in the zoo are subjected to live in artificial, stressful, and boring conditions. Detached from their natural habitats and social structures, they are kept in small, restrictive environments that deprive them of mental and physical stimulation and in turn causes depression.

Treatment alternatives for animal depression to boost growth of the animal depression medication market 

Treatment of animal depression varies according to cause of condition. Blood tests, x-rays, and a physical examination by a veterinarian can help with diagnosis. If the animal has chemical imbalance, then the veterinarian may prescribe anti-depressants or anxiety medication.

Paroxetine is an antidepressant used to treat major depressive disorders, social anxiety disorder, and panic disorder. The current standard of treatment of depression involves use of selective serotonin reuptake inhibitors (SSRIs). Depression can be triggered due to lack of serotonin, and SSRIs essentially maintain higher levels of serotonin in the brain to address the issue. It can take up to two months for a drug to be effective in treating depression. Most dogs suffering from such disorders can make a full recovery in six to twelve months after being administered SSRIs. The U.S. Food and Drug Administration has approved only one antidepressant, Clomicalm (clomipramine) for treatment of anxiety in dogs, which would fuel growth of the animal depression medication market.

Increasing pet adoption and growing pet humanization trend driving growth of animal depression medication market in Asia Pacific and Latin America

North America is a major region for animal depression medication market. As per 2015 Pet Secure estimates, the U.S. accounted for the highest dog population of 69,929,000. Animal depression medication market in Asia is growing on account of increasing awareness among the populace regarding animal illness, increasing number of pets, and improving veterinary medical facilities. According to the Pet Asia Fair in 2016, pet adoption in Asia Pacific and Latin America regions is increasing rapidly resulting in increase in demand for nutritional and medicinal products in order to address their growing health concerns.

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Increasing spending on animal care to boost growth of the animal depression medication market

Increasing number of pet animals is a major factor fueling growth of the animal depression medication market. According to 2016 estimates released by Pet Secure, over half of the population in the U.S. owns a cat or a dog. This is mainly attributed to increasing consumer awareness regarding the various social, emotional, and physical benefits associated with pet ownership. Therefore, with increasing number of pets, there is an increasing spending on pet animals, further fueled by pet humanization trend. According to 2016 estimates of Pet Secure, the U.S. population spends over US$ 50 billion per annum on their pets. This is projected to fuel growth of the animal depression medications market in the near future. Other factors include awareness about animal illness, better medical facilities, use of latest technology in diagnosis, and increased spending capabilities on animal treatment.

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