U.S. Pet Medications Market 2021: Ending 2020 with $10.8 Billion in Sales, up Approx 13% from 2019 - ResearchAndMarkets.com
The "Pet Medications in the U.S., 7th Edition" report has been added to ResearchAndMarkets.com's offering.
- The "Pet Medications in the U.S., 7th Edition" report has been added to ResearchAndMarkets.com's offering.
- Posting double-digit sales growth 2020 - the largest single-year increase in the past decade - the pet medications market not only navigated the COVID-19 pandemic but continued to thrive, given increased focus on pet health and wellness and the surge in pet adoption and acquisition brought on by the pandemic.
- Ending 2020 with $10.8 billion in sales, up nearly 13% from 2019, the pet meds market initially faced an uphill battle given the closures of vet clinics and retail stores, threats to production and supply lines, and economic hardship that could have potentially translated into reduced consumer spending on pet care.
- The veterinary sector - long the primary sales channel for pet medications - managed to exceed expectations and ended the year with higher-than-average growth by leveraging "concierge" pet drop-off/pick-up services and remote treatment options such as telemedicine.