Polaris Market Research recently published [115+ Pages] research report on “Veterinary Pain Management Market Share, Size, Trends, Industry Analysis Report, By Product; By Application; By Animal Type; By End-Use (Veterinary Hospitals, Veterinary Clinics, Pharmacies & Drug Stores) By Region; Segment Forecast, 2022 – 2030” in its research database.
According to the research report, the global veterinary pain management market size & share was valued at USD 1,422.9 million in 2021 and is expected to reach USD 2,394.9 Million by 2030, growing at a CAGR of 6.0% during the forecast period.
Animal pain is a disagreeable catalyst and emotional sensation that speaks for an animal’s sensitivity to harm and danger to the unification of the tissues that alters the physiology and actions of the animals to reduce or circumvent injury and to promote recovery. The rapidly rising demand for the veterinary pain management market can be attributed to environmental components, age, species, body condition, and synchronous disease that can impact pain behavior and should be contemplated when assessing animals.
The escalating inclination of pet adoption and growing consciousness in the context of better pet care is anticipated to speed up the growth ahead. Funding in technological progressions and transformation will generate growth opportunities for key players shortly. As per the American Veterinary Medical Association, in 2017, approximately 68% of households in the US had pets.
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(The sample of this report is readily available on request. The report sample contains a brief introduction to the research report, a Table of Contents, a Graphical introduction of regional analysis, Top players in the market with their revenue analysis, and our research methodology.)
What Does the Report Include?
- The report offers a quantitative analysis of the prevalent market, which helps in recognizing the market opportunities
- The report contains an extensive analysis of factors that propel and curb the growth of the market
- The projections in the report are made by analyzing the current and future market trends
- Detailed analysis of drug types assists in comprehending the different types of drugs
- A thorough analysis of geographic regions is offered, which assists in better comprehending the region-wise growth
Some of the Top Market Players Are:
- Assisi Animal Health
- BASF SE
- Bayer AG
- Boehringer Ingelheim International GmbH
- Cargill Incorporated
- Charoen Pokphand Group
- Dechra Pharmaceuticals
- Evonik Industries AG
- IDEXX Laboratories
- Kemin Industries Inc.
- Merck Sharp & Dohme Corp
- Sumitomo Chemical
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Growth Driving Factors
- Increasing cases of obesity in animals to push the market
Growing cases of pet obesity are additionally fuelling the market. As per the Association for Pet Obesity Prevention in 2017, 56% of dogs and 59% of cats were documented as obese in the US. The veterinary pain management market size is expanding as obesity escalates the probability of joint diseases, diabetes, cancer, and other appalling conditions. Additionally, as per the kingsbrook vets in 2017, 20% of all pet dogs in the US were suffering from osteoarthritis irrespective of age. Obesity also increases the chance of cancer in canines.
The veterinary pain management market sales are soaring because of the escalation in inventiveness by government organizations to encourage animal health globally. For instance, in 2016, the European government-funded USD 4.7 million in animal healthcare disbursement as per a report by European External Action Service. In January 2016, the Central State Government of India uplifted the import duty on veterinary products from 5% to 7.5% so that there could be an uplift in pharmaceutical manufacturing and the make-in-India crusade.
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- In June 2022, Boehringer partnered with Carthronix to follow small-molecule therapeutics in canine oncology.
- The drug market segment acquired the largest revenue share
Based on product, the drug market segment acquired the most significant revenue due to the growth in the usage of NSAIDs in handling animals. The NSAID’s sub-segment controlled the drug market segment as these are the most often used drugs to treat osteoarthritis-related pain and inflammation. The veterinary pain management market demand is increasing as companies advance contemporary NSAIDs to lessen responses and side effects.
- The joint pain segment is expected to capture a significant market share
Based on application, the joint pain segment is expected to seize the largest market share because of the increasing number of pets, musculoskeletal disorders like osteoarthritis, and the growing number of overweight and obese animals. The veterinary pain management market trends include the osteoarthritis sub-segment propelling the segment’s growth due to high-frequency conditions, especially in canine species. Nutraceuticals are advocated for import duty on veterinary products from 5% to 7.5% to push the pharmaceutical manufacturing and make-in-India crusade.
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Veterinary Pain Management Market: Report Scope
|Market Outlook for 2030||USD 2,394.9 Million|
|Market Size 2022 Value||USD 1,504.3 Million|
|Expected CAGR Growth||6.0% from 2022 – 2030|
|Forecast Year||2022 – 2030|
|Top Market Players||Adisseo, ADM, Assisi Animal Health, BASF SE, Bayer AG, Boehringer Ingelheim International GmbH, Cargill Incorporated, Ceva, Charoen Pokphand Group, Dechra Pharmaceuticals, DSM, DuPont, Elanco, Evonik Industries AG, IDEXX Laboratories, Kemin Industries, Inc., Medtronic, Merck Sharp & Dohme Corp, Norbrook, Novusint, Nutreco, Sumitomo Chemical, Vetoquinol, Virbac, and Zoetis|
|Segments Covered||By Product, By Application, By Animal Type, By End-Use, By Region|
|Customization Options||Customized purchase options are available to meet your research needs. Explore customized purchase options|
- An increasing number of pet owners pushing the North American market
North America held the largest veterinary pain management market share due to the increasing number of pet owners and the requirement for high-quality animal care. The advancement is further propelled by extremely progressive and entrenched animal healthcare facilities. In North America, veterinary prescriptions have become mandatory, which is supposed to increase the sales of prescription drugs over the projection period in this region.
Asia Pacific is estimated to portray profitable growth over the forecast timeline because of the growing trend of pet adoption and the region’s advancing economy. Further, the growing cases of animal illnesses have raised the procedure pushing the expansion.
Browse the Detail Report “Veterinary Pain Management Market Share, Size, Trends, Industry Analysis Report, By Product; By Application; By Animal Type; By End-Use (Veterinary Hospitals, Veterinary Clinics, Pharmacies & Drug Stores) By Region; Segment Forecast, 2022 – 2030” with in-depth TOC: https://www.polarismarketresearch.com/industry-analysis/veterinary-pain-management-market
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Veterinary Pain Management Market Report Highlights
- The drug market held the largest market share in 2021 due to the significant use of NSAIDs to control pain and inflammation in animals.
- Joint pain applications are anticipated to account for the largest market revenue during the forecast period due to the growing prevalence of osteoarthritis in companion animals.
- Livestock animal types are supposed to capture the largest market share in 2021 as chronic diseases are becoming more common and organizations dedicated to animal healthcare are becoming more aware of these issues.
- Veterinary hospitals acquired the most significant market revenue in 2021 due to growing investments in expanding veterinary hospitals.
- North America dominated the regional market due to growing pet ownership and a growing pool of skilled veterinarians in emerging economies such as the US and Canada.
Frequently Asked Questions
- What is the projected growth rate of the market?
- What is the study period of the market?
- Which region has the largest share of the market?
- Who are the key players in the market?
- Which is the leading product segment in the market?
Polaris Market Research has segmented the veterinary pain management market report based on product, application, animal type, end-user, and region:
By Product Outlook
- Drug Market
- By Type
- Local anesthetics
- Alpha-2 agonists
- Disease-modifying osteoarthritis agents
- By Route of Administration
- Laser Therapy Device
- Electromagnetic Device
- By Type
By Application Outlook
- Joint Pain
- Cancer Pain
- Postoperative Pain
By Animal Type Outlook
- Companion Animal
- Livestock Animal
By End Use Outlook
- Veterinary Hospitals
- Veterinary Clinics
- Pharmacies & Drug Stores
By Region Outlook
- North America (U.S., Canada)
- Europe (France, Germany, UK, Italy, Netherlands, Spain, Russia)
- Asia Pacific (Japan, China, India, Malaysia, Indonesia, South Korea)
- Latin America (Brazil, Mexico, Argentina)
- Middle East & Africa (Saudi Arabia, UAE, Israel, South Africa)
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