The pet noise anxiety is caused due to loud noises like thunderstorms and fireworks. The global pet noise anxiety market is expected to witness growth over the forecast period. Increasing pet adoption is a primary growth driver for this market. Furthermore, there has been a substantial rise in demand for pet noise anxiety products since most of the owners are shifting from ‘pet ownership’ and moving towards ‘pet parenting’. This has led to an upsurge in the pet healthcare spending which in turn is fueling the pet noise anxiety market growth.
On the basis of the type, the market is segmented into pet medications, pet wraps, and others. The pet medication segment is expanding at a high rate due to growing awareness among owners coupled with a high preference for medications over other products. Furthermore, increasing research and development activities conducted to develop advanced drugs is propelling the market segment. The pet wraps segment that includes pet anxiety jackets, t-shirts is anticipated to grow over the forecast period due to the prevalence of pet anxiety and increasing pet health spending amongst the owners.
On the basis of the animal type, the market is segmented into canine, feline, and others. It has been noted that dogs are the most preferred companion animals amongst several owners therefore the demand for pet noise anxiety products has gained popularity in the canine segment. The feline segment is expected to gain popularity due to increasing cat adoption and a variety of pet noise anxiety products.
On the basis of region, the market is segmented into five major regions. The pet noise anxiety market is dominant in North America followed by the European countries due to the increase in the number of owners, rising number of veterinarians, and the presence of key market players such as Zoetis. The Asia Pacific pet noise anxiety market is also expected to grow at a lucrative rate over the forecast period owing to the rising pet adoption, pet health care awareness, and favorable government initiatives.
The major market players include Zoetis, VioVet, PetMed, Vets4Pets, Pets at home, PetSmart Inc. These players are involved in strategic collaborations, regional expansion, and new product launch. For instance, in 2016, Zoetis launched Sileo which is FDA approved oromucosal gel for noise anxiety treatment in dogs.
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