Product ID: SQMIG35I2099
Report ID: SQMIG35I2099 | Region: Global | Published Date: November, 2022 | Pages: 272 | Tables: 156 | Figures: 78
Global Veterinary Pain Management Market size was valued at USD 4.3 billion in 2021 and is poised to grow from USD 4.5 billion in 2022 to USD 6.12 billion by 2030, growing at a CAGR of 4.5% in the forecast period (2023-2030).
Diagnostic testing, prevention, and treatment of pain in animals caused by a wide range of factors such as vital organ problems, physical trauma, central nervous system and spine problems, and surgical techniques are all part of veterinary pain management. In order to control pain in the veterinary field, practitioners must be able to recognize and relieve pain in a wide range of pet diseases. A variety of factors can cause pain in animals, including arthritis, cancer, surgical intervention, and so on. In animals, pain can also be associated with aggressive behaviour, decreased or complete loss of activity, and other symptoms. Animal pain can have an impact on both pet and farm animal performance.
The increasing prevalence of pet diseases is propelling the Veterinary Pain Management Market forward. According to the Animal Cancer Foundation, more than 60 million dogs and 30 million cats were diagnosed with terminal cancer in the United States in 2018. One of the key factors driving overall growth is the large number of veterinary practitioners, as well as rising veterinary practitioner income levels in developed markets. Furthermore, increased demand for easily accessible and low-cost treatment procedures, as well as increased awareness about animal health and welfare, are expected to drive the growth of the Veterinary Pain Management Market over the forecast period.
US Veterinary Pain Management Market is poised to grow at a sustainable CAGR for the next forecast year.
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Global veterinary pain management market is segmented based on drug type, animal type, end users, route of administration, distribution channel, region. Based on drug type Veterinary Pain Management Market is segmented into Opioids, Morphine, Hydromorphone, Codeine, α2-adrenergic Agonists, Xylazine, Medetomidine, Local Anaesthetics, Bupivacaine, Lidocaine, Chloropropane, Nonsteroidal Anti-inflammatory Drugs (NSIDs), Etodolac, Fentanyl, Meloxicam, Sedatives, Corticosteroids, Others. Based on animal type Veterinary Pain Management Market is segmented as Livestock animal, Companion animal. Based on end user, the Veterinary Pain Management Market is segmented as Veterinary Hospital pharmacies, Retail Veterinary Pharmacies, Online Pharmacies. Based on route of administration Veterinary Pain Management Market is segmented as Oral Preparations, Parenteral Preparations. Based on distribution channel Veterinary Pain Management Market is segmented as veterinary hospitals, pharmacies. Based on region market is segmented into North America, Asia Pacific, Europe, Latin America and Middle East Africa.
Veterinary Pain Management Market Analysis by Animal Type:
Due to increasing incidence of chronic diseases, increased awareness among animal healthcare organizations, and high animal healthcare spending in developing countries, the livestock animal segment accounted for the largest market share in terms of revenue. Pain in livestock animals is difficult to assess, and visible symptoms include lameness, increased respiratory rate and vocalization, expiratory grunt, and teeth grinding. NSAIDS, 2 adrenergic drugs, and local anaesthetics are the most commonly used medications. The companion animal segment is expected to grow steadily over the forecast period due to increased ownership, awareness, and demand for efficient animal care. Furthermore, the rising prevalence of obesity and other chronic conditions such as osteoarthritis and cancer are driving the market forward.
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Based on region global veterinary pain management market is segmented into North America, Asia Pacific, Europe, Latin America, and Middle East Africa. Regionally, North America and Europe have the potential to be revenue-generating markets for veterinary pain management. Significant pet ownership, particularly in North America, is providing vast growth opportunities for the overall market. Furthermore, rising animal healthcare expenditure and a rapidly increasing number of veterinarians are fuelling the prospects. Furthermore, these regions are seeing an increase in research and development spending to better understand the pathological causes of pain in animals. Asia Pacific and other developing regions, on the other hand, are expected to hold significant potential in the global veterinary pain management market. Rising demand for large livestock populations will drive growth in these regional markets. Furthermore, there is a growing awareness of pet insurance, as well as an increase in the amount of money spent on animal health care.
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Veterinary Pain Management Market Drivers
Veterinary Pain Management Market Restraint
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The global veterinary pain management market is fragmented, with a prominent market player acquiring a sizable portion. The prominent players operating in the market are constantly adopting various growth strategies to stay afloat in the market. Product launches, innovations, mergers, and acquisitions, collaborations and partnerships, and intensive R&D are some of the growth strategies that are adopted by these key players to thrive in the competitive market. The key market players are also constantly focused on R&D to supply industries with the most efficient and cost-effective.
Top Players in the Veterinary Pain Management Market
Veterinary Pain Management Market Recent Developments
December 2020 The award-winning Canine Arthritis Management (CAM) team launched a new online course for dog professionals aimed at improving understanding of arthritis in dogs and its management.
August 2020 Zoetis joined forces with the WSAVA to support its global pain council (GPC), a group of global veterinarians who specialize in companion animal pain management. By providing educational and advisory resources, the GPC addressed global variations in animal pain assessment and management.
Elanco Animal Health's Zorbium (buprenorphine transdermal solution) was approved by the US Food and Drug Administration (FDA) in January 2022, expanding its pain management offerings while addressing an unmet need in veterinary practices.
The United States Food and Drug Administration approved Solensia (frunevetmab injection) in January 2022 as the first treatment for pain associated with osteoarthritis in cats.
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected utilizing Primary Exploratory Research backed by the robust Secondary Desk research.
According to our global veterinary pain management market analysis, one of the key factors driving market growth is the increasing domestication of animals, as well as rising public awareness about pet health. Furthermore, the easy availability of pain management products and devices such as opioids, nonsteroidal anti-inflammatory drugs (NSAIDs), laser devices, and local anaesthetics is propelling market growth.
|Market size value in 2021||USD 4.3 billion|
|Market size value in 2030||USD 4.5 billion|
|Forecast Unit (Value)||USD Billion|
|Regions covered||North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)|
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Parent Market Analysis
KEY MARKET INSIGHTS
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
For the Global Veterinary Pain Management Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Veterinary Pain Management Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Veterinary Pain Management Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
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