Veterinary Pain Management Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028
Segmented by Product (Medications v/s Medical Devices), By Application (Joint Pain, Cancer Pain, Postoperative Pain, Others), By Animal Type (Companion Animal v/s Livestock Animal), By Region and Competition.
New York, March 24, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Veterinary Pain Management Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028" - https://www.reportlinker.com/p06435459/?utm_source=GNW
Global veterinary pain management market is anticipated to witness impressive growth during the forecast period.This can be ascribed to the growing incidence of inflammatory and painful diseases such as deficiency disease, hereditary diseases, and physiological diseases in the animal population.
Additionally, growing the need for easily accessible and affordable treatment procedures in urban regions and growing awareness about animal health and welfare have significantly enhanced the demand for veterinary pain management across different parts of the globe.Additionally, increasing the livestock population suffering from cancer, abdominal pain, and neuropathic pain is expected to boost the demand for different veterinary pain management, thereby fuelling the market growth through 2028.
Besides, increasing research and development activities to treat various causes of pain in animals including different therapy across the globe is further expected to support the veterinary pain management market during the forecast period.According to an article published by Veterinary Practice News in June 2020, the prevalence of osteoarthritis in dogs was found to be 20% globally.
Similarly, according to an article published by American Animal Health Association in April 2021, approximately 6 million dogs are diagnosed with cancer each year.
Growing Prevalence of Chronic Diseases
The increasing rate of acute and chronic diseases in animals across the globe is one of the major factors bolstering the growth of the market in the forecast period.For example, the growing incidence rate of infectious diseases such as deficiency diseases, hereditary diseases (including both genetic diseases and non-genetic hereditary diseases), and physiological diseases in animals is positively enhancing the growth of the market over the coming years.
Also, due to the increasing prevalence of animal diseases which also includes epizootic diseases, there is a greater awareness and rising need for veterinary pain management therapy. Seventy percent of U.S. households, or about 90.5 million families, own a pet, according to the 2021-2022 National Pet Owners Survey conducted by the American Pet Products Association (APPA). Similarly, the growing need for outpatient clinics to meet the rising volume of surgical procedures is expected to create significant growth during the forecasted period.
Increasing Investment in the Pet Healthcare Sector
Growing focus on improving the pet healthcare facilities and overall healthcare infrastructure is a major factor boosting the growth of the veterinary pain management market in the forecast period.To develop and apply new and improved technologies, there are an increasing number of strategic partnerships and collaborations with both public and private organizations.
This is further expanding the diversity of market opportunities for the coming years.Additionally, the government’s rising efforts to raise awareness of the value of early diagnosis are once again fuelling the market’s expansion.
Increasing investment in R&D, particularly in established and developing economies, about medical instruments and devices will further generate profitable market expansion prospects over the projection period. The total number of pets insured in the U.S. in 2021 was 3.9 million, a 28 percent increase since 2020. Also, the growing popularity of nonpharmaceutical pain management techniques is a major factor in the growth of the market, and the growing demand for laser therapy and electromagnetic therapy as pain management is anticipated to drive the growth of the market over the years.
Market Segmentation
Global veterinary pain management market can be segmented by product, application, animal type, and by region.Based on product, the market can be divided into Medications and Medical Devices.
Based on application, the market can be differentiated into Joint Pain, Cancer Pain, Postoperative Pain, and Others.Based on application, the market can be divided into Companion Animals and Livestock animals.
Regionally, North America dominated the market among Asia Pacific, Europe, Middle East and Africa, and South America. Among the different countries, United States dominated the global veterinary pain management market on account of the growing incidence of animal diseases in the country.
Recent Development
• In February 2021, Dechra Pharmaceuticals PLC received rights for marketing Tri-Solfen in Australia and New Zealand under a licensing agreement with Animal Ethics Pty Ltd. Tri-Solfen is used as a routine treatment in reducing pain for farm animals.
• In July 2020, Boehringer Ingelheim acquired a Belgian biotech company, GST, to strengthen its stem cell capabilities in the Animal Health segment.
Market Players
Boehringer Ingelheim International GmbH, Zoetis Inc., Elanco Animal Health Incorporated, Norbrook Laboratories Limited, SeQuent Scientific Limited, Merck & Co., Inc., Dechra Pharmaceuticals Plc, Vetoquinol S.A., Ceva Santé Animale SA, Chanelle Pharma Group Ltd are some of the leading players operating in the global veterinary pain management market.
Report Scope:
In this report, global veterinary pain management market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:
• Veterinary Pain Management Market, By Product:
o Medications
o Medical Devices
• Veterinary Pain Management Market, By Application:
o Joint Pain
o Cancer Pain
o Postoperative Pain
o Others
• Veterinary Pain Management Market, By Animal Type:
o Companion Animal
o Livestock Animal
• Veterinary Pain Management Market, By Region:
o North America
United States
Mexico
Canada
o Europe
France
Germany
United Kingdom
Italy
Spain
o Asia Pacific
China
India
South Korea
Japan
Australia
o South America
Brazil
Argentina
Colombia
o Middle East & Africa
South Africa
Saudi Arabia
UAE
Egypt
Turkey
Competitive Landscape
Company Profiles: Detailed analysis of the major companies present in Global Veterinary Pain Management Market.
Available Customizations:
With the given market data, we offers customizations according to a company’s specific needs. The following customization options are available for the report:
Company Information
• Detailed analysis and profiling of additional market players (up to five).
Read the full report: https://www.reportlinker.com/p06435459/?utm_source=GNW
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