The growing prevalence of ear infections coupled with an increase in the pet ownership ratio across numerous countries will bring immense growth prospects for the companion animal ear infection treatment market during the forecast period of 2020-2030. An increase in the healthcare expenditure on animals will also present promising opportunities for the companion animal ear infection treatment market to expand its growth landscape.
Ear infections are common among animals and constitute a large segment. Furthermore, the awareness about the importance of maintaining animal hygiene is on the rise among many individuals. Hence, these factors will improve the growth cycle of the companion animal ear infection treatment market between 2020 and 2030.
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Otitis externa, otitis interna, and otitis media are vital disease types that come under companion animal ear infections. On the basis of product, the companion animal ear infection treatment market can be segmented into anti-bacterial (aminoglycosides, fluoroquinolones, and others), corticosteroids, anti-fungal, and others. The mode of administration is otic, oral or topical.
Rise in Pet Ownership Numbers to Boost Growth Opportunities across Companion Animal Ear Infection Treatment Market
Many individuals are adopting pets around the world mainly due to the mental benefits they provide. Numerous studies have shown that cuddling or playing with a pet reduces mental stress. In addition, the heightening awareness about pet homelessness is also triggering a rise in the adoption rate. These factors help in accelerating the growth of the companion animal ear infection treatment market.
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North America to Lead in Terms of Regional Prospects
North America’s companion animal ear infection treatment market is expected to emerge as a dominant player during the assessment period of 2020-2030. The growing pet adoption numbers will bring immense growth prospects for the companion animal ear infection treatment market. Various statistics show that pet ownership in the U.S. has tripled since the 1970s and is estimated to grow further. These aspects will help the companion animal ear infection treatment market to observe good growth prospects in North America.