What is the global market size of Veterinary Pain Management Market?

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).

Global Veterinary Pain Management Market Size, Share, Growth Analysis, By Drug type(Opioids, Morphine), By Animal type(Livestock animal, Companion animal), By End users(Veterinary Hospital pharmacies, Retail Veterinary Pharmacies), By Route of administration(Oral Preparations, Parenteral Preparations), By Distribution channel(Veterinary Hospitals, Pharmacies) - Industry Forecast 2024-2031

Report ID: SQMIG35I2099 | Region: Global | Published Date: February, 2024
Pages: 272 | Tables: 156 | Figures: 78

Global Veterinary Pain Management Market Regional Insights

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.

Global Veterinary Pain Management Market Report Snapshots

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Global Veterinary Pain Management Market size was valued at USD 4.3 billion in 2019 and is poised to grow from USD 4.5 billion in 2023 to USD 6.12 billion by 2031, growing at a CAGR of 4.5% in the forecast period (2024-2031).

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. 'Zoetis', 'Elanco', 'Bayer AG', 'Boehringer Ingelheim International GmbH', 'Merck & Co., Inc.', 'Dechra Pharmaceuticals PLC', 'Norbrook Holdings Limited', 'Ceva Sante Animale', 'Vetoquinol S.A.', 'Aratana Therapeutics Inc.', 'Kindred Biosciences Inc.', 'Biogal-Galed Labs.', 'Nutramax Laboratories Veterinary Sciences Inc.', 'K-Laser USA', 'Assisi Animal Health', 'Ellevet Sciences', 'VOM Technology', 'Innovative Animal Products', 'Grunenthal GmbH', 'Parnell Pharmaceuticals Inc.'

Increasing Funding for animal welfare to drive market growth. The rise in companion animal ownership and large livestock population, the rise in pet insurance with an increase in animal welfare spending, and the rising prevalence of animal diseases are all expected to influence the global veterinary pain management industry's growth. Furthermore, the industry's expansion is being driven by an increase in the need to maintain animal health and safety in developed countries, as well as an increase in the acceptance of pet insurance globally. Furthermore, the rise in the incidence of animal diseases that cause pain and inflammation is propelling the industry forward. The growing number of pet owners globally is expected to aid business growth over the forecast period.

Expanding exploration of untapped markets to create growth opportunities for key players. In comparison, the increasing prevalence of non-conventional and non-pharmaceutical treatment methods, as well as untapped emerging markets, are expected to provide future growth opportunities for the industry.

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Global Veterinary Pain Management Market Regional Insights

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