Animal depression medication market Continues to Accelerate Rapidly as Indian Pharmaceutical Leader Lupin Limited Introduces Generic Version of SpecGx LLC’s Anafranil Capsule

 

Animal depression medications are usually only prescribed for depressed behavior in animals and are usually used as a stand-alone or second-line therapy, depending upon the degree of the condition. When treating depression in humans, it is most often treated with proper prescription medications, behavioral therapy, or counseling. The other classification of animal depression refers to biological causes like genetic defects and imbalances in the brain that result in depressive disorder in animals. As of now, only a few of these causes are known such as thyroid, immune system, endocrine, neurological disorders among others. However, it is believed that in the near future, a comprehensive list of the causes of depression in animals will be known.

Increasing trend of pet adoption and growing pet humanization is expected to drive growth of the global animal depression medication market. Pet adoption is rapidly increasing in both developed and emerging economies. According to the American Society for the Prevention of Cruelty to Animals (ASPCA), around 6.5 million companion animals with 3.3 million dogs and 3.2 million cats enter the U.S. animal shelters nationwide every year. According to the same source, around 3.2 million shelter animals i.e. 1.6 million dogs and 1.6 million cats are adopted each year in the U.S. Such a high adoption rate and humanization have led to increased awareness regarding various social, physical, and emotional benefits of pet ownership. As a result of this, expenditure on pet animals is rising. Therefore, these factors are expected to drive growth of the global animal depression medication market.

However, stringent regulations regarding the adoption of pet animals are expected to hamper the global animal depression medication market growth. Among regions, North America is expected to witness significant growth in the global animal depression medication market. This is owing to increasing awareness regarding animal illness combined with rising number of pets across the region. Besides, the presence of robust veterinary medical facilities is expected to boost the regional market. Furthermore, Asia Pacific is expected to register a robust growth rate, owing to rising disposable income and increasing demand for nutritional products in the region.

Key companies involved in the global animal depression medication market are Eli Lilly and Company, Elite Pharma Private Limited, Cipla Limited, Torrent Pharmaceuticals Limited, Intas Pharmaceuticals Limited, and Biomax Laboratories.

For instance, in February 2019, Lupin Limited, an Indian pharmaceutical company, introduced Clomipramine Hydrochloride Capsules USP, which is a generic version of SpecGx LLC’s Anafranil Capsule.