Increasing pet adoption andgrowing pet humanization trend driving growth of animal depression medicationmarket in Asia Pacific and Latin America
North America is a major regionfor AnimalDepression Medication Market. As per 2015 Pet Secure estimates, the U.S. accountedfor the highest dog population of 69,929,000. Animal depression medicationmarket in Asia is growing on account of increasing awareness among the populaceregarding animal illness, increasing number of pets, and improving veterinarymedical facilities. According to the Pet Asia Fair in 2016, pet adoption inAsia Pacific and Latin America regions is increasing rapidly resulting inincrease in demand for nutritional and medicinal products in order to addresstheir growing health concerns.
Animal Depression MedicationMarket Overview
Emotions may be described assubjective, conscious experiences characterized by psychophysiologicalexpressions, mental states, and biological reactions. Several tests such ascognitive bias test and leaned helplessness models have been developed tounderstand feelings of optimism and pessimism in animals. Cognitive biases havebeen shown in wide range of species, including rats, dogs, cats, sheep, andchicks.
Depression in animals can be dueto change in routine or change in emotions. Some animals can get depressed whenleft alone for long hours. Animals can also suffer from depression due tochemical imbalance, which can be treated with medication. Different animalshave different reactions to depression. This can be spotted by looking out forordinary behavior i.e. when an active animal becomes listless and a calm animalseems anxious. Animals in the zoo are subjected to live in artificial,stressful, and boring conditions. Detached from their natural habitats andsocial structures, they are kept in small, restrictive environments thatdeprive them of mental and physical stimulation and in turn causes depression.
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Treatment alternatives for animaldepression to boost growth of the animal depression medication market
Treatment of animal depressionvaries according to cause of condition. Blood tests, x-rays, and a physicalexamination by a veterinarian can help with diagnosis. If the animal haschemical imbalance, then the veterinarian may prescribe anti-depressants oranxiety medication.
Paroxetine is an antidepressantused to treat major depressive disorders, social anxiety disorder, and panicdisorder. The current standard of treatment of depression involves use of selectiveserotonin reuptake inhibitors (SSRIs). Depression can be triggered due to lackof serotonin, and SSRIs essentially maintain higher levels of serotonin in thebrain to address the issue. It can take up to two months for a drug to beeffective in treating depression. Most dogs suffering from such disorders canmake 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 fuelgrowth of the animal depression medication market.
Increasing spending on animalcare to boost growth of the animal depression medication market
Increasing number of pet animalsis a major factor fueling growth of the animal depression medication market.According to 2016 estimates released by Pet Secure, over half of the populationin the U.S. owns a cat or a dog. This is mainly attributed to increasingconsumer awareness regarding the various social, emotional, and physicalbenefits associated with pet ownership. Therefore, with increasing number ofpets, there is an increasing spending on pet animals, further fueled by pethumanization trend. According to 2016 estimates of Pet Secure, the U.S.population spends over US$ 50 billion per annum on their pets. This isprojected to fuel growth of the animal depression medications market in thenear future. Other factors include awareness about animal illness, bettermedical facilities, use of latest technology in diagnosis, and increasedspending capabilities on animal treatment.
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Key players involved in theanimal depression medication market
Major players in the globalanimal depression medication market include Torrent Pharmaceuticals Limited,Elite Pharma Private Limited, Biomax Laboratories, Intas PharmaceuticalsLimited, Cipla Limited, and Eli Lilly and Company. These companies providedrugs that are used to treat depression in animals.
Key Developments
Increasing product approval andlaunch of animal depression drugs is expected to boost the market growth. Forinstance, in August 2019, Lupin Limited launched Fluoxetine Tablets USP, 10 mgand 20 mg, a generic version to Eli Lilly and Company’s Proxac tablets.
Similarly, in February 2019,Lupin Limited announced the launch of Clomipramine Hydrochloride Capsules USP,a generic version of SpecGx LLC’s Anafranil Capsule, having received anapproval from the U.S. Food and Drug Administration (FDA) earlier.
Research related toanti-depression drugs is also expected to boost the market. For instance, inJuly 2019, according to a research published in Lancet Psychiatry,interpretation of depression scale scores may indicate inaccurately thatselective serotonin reuptake inhibitors (SSRIs) are not as effective fornonsevere depression.
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