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.
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.
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.
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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 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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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.
Key Developments
Increasing product approval and
launch of animal depression drugs is expected to boost the market growth. For
instance, in August 2019, Lupin Limited launched Fluoxetine Tablets USP, 10 mg
and 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 an
approval from the U.S. Food and Drug Administration (FDA) earlier.
Research related to
anti-depression drugs is also expected to boost the market. For instance, in
July 2019, according to a research published in Lancet Psychiatry,
interpretation of depression scale scores may indicate inaccurately that
selective serotonin reuptake inhibitors (SSRIs) are not as effective for
nonsevere depression.
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