The veterinary pain management market was valued at USD 1000 million in 2017 and is expected to register a CAGR of 8.2% during the forecast period. The global veterinary pain management market is majorly driven by the increasing adoption of pets, increasing preventive treatments and care facilities for companion animals, increasing technically advanced devices, raising awareness regarding maintaining animal health and animal welfare, and growing penetration by market players. Additionally, factors such as the growing need for easy access to services and affordable veterinary drugs are likely to drive the market.
However, awareness regarding certain serious companion animal diseases is likely to hamper the growth of the market.
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Top Players in Veterinary Pain Management Market:
Boehringer Ingelheim, Zoetis, Chanelle, Dechra Pharmaceuticals, Ceva Santé Animale, Norbrook Laboratories, Vetoquinol, Bayer, Merck Animal Health, Elanco, and Assisi Animal Health.
Market Segmentation of Veterinary Pain Management Market:
The global veterinary pain management market is segmented on the basis of drug type, devices, route of administration, animal type, application, and end-user. Considering drug type, the market is segmented into nonsteroidal anti-inflammatory drugs, opioids, local anesthetics, α2-adrenergic agonists, muscle relaxants, sedatives, and corticosteroids. Nonsteroidal anti-inflammatory drugs are further sub-segmented into etodolac, fentanyl, and meloxicam. Opioids are further sub-segmented into morphine, hydromorphone, codeine, and others. Local anesthetics are further sub-segmented into bupivacaine, lidocaine, chloroprocaine, and others. α2-adrenergic agonists are further sub-segmented into xylazine, medetomidine, and others. By device, the market is segmented into laser therapy devices and electromagnetic therapy devices. Based on the route of administration, the market is segmented into oral, parenteral, and topical. With reference to animal type, the market is segmented into companion animals, livestock, research animals, aquatic animals, zoo animals, and exotic animals. Based on application it is segmented into joint pain, postoperative pain, and cancer. On account of end-user, the market is segmented into veterinary hospitals and clinics, research institutes, and universities and laboratories.
Regional Analysis of Veterinary Pain Management Market:
The Americas dominates the global veterinary pain management market due to the rising adoption of pets, increasing preventive treatments and care facilities for companion animals, increasing technically advanced devices, raising awareness regarding maintaining animal health and animal welfare, and growing penetration by market players. Additionally, factors such as the growing need for easy access to services and affordable veterinary drugs are likely to drive the market. According to a survey conducted by the National Pet Owners, in 2017, around 68% of families or households owned pets in the U.S. Additionally, according to the American Pet Products Association 69.4 billion was spent in pet healthcare expenditure in the U.S in 2016.
The European market is expected to grow at a strong growth rate during the forecast period owing to the availability of advanced treatment facilities and healthcare expenditure along with the growing pet adoption. Furthermore, increasing awareness and animal welfare are driving the growth of the veterinary pain management market. According to the European Pet Food Industry, in 2016, there were around 80 million households owning pets in Europe.
Asia Pacific is the fastest growing market for veterinary pain management whose growth is attributed to the increasing population adopting pets and the improved standard of living. Additionally, increasing healthcare spending is likely to drive the growth of the market. India and China are the major contributors to the market growth due to the rapid development of healthcare infrastructure in these regions and increasing demand for diagnostic and treatment services.
On the other hand, the Middle East and Africa is expected to witness slow growth due to limited access to healthcare and affordability issues among the population. In the Middle East, the growth of the market is driven by the increasing availability of new and advanced diagnostic and treatment methods for various veterinary ailments.
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Some of Major Table of Content for Veterinary Pain Management Market:
Chapter 1. Report Prologue
Chapter 2. Market Introduction
2.2 Scope Of The Study
2.2.1 Research Objective
Chapter 3. Research Methodology
3.2 Primary Research
3.3 Secondary Research
3.4 Market Size Estimation
Chapter 4. Market Dynamics
4.5 Macroeconomic Indicators
4.6 Technology Trends & Assessment
4.5 Macroeconomic Indicators
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