The veterinary pain management market was worth US$ 1,078.5 million in 2017 and is expected to grow at a 7.9% CAGR from 2018 to 2026. rising humanization of animals due to the developing trend of nuclear families, continuous development in research and development activities related to veterinary pain management, and scheduled diagnostic sessions for livestock to maintain the quality of the meat, milk, and other products. Improper feeding and unorganized health management of pets and livestock animals lead to obesity, which eventually leads to joint pain and other disorders. In addition to that, pet and livestock owners are also being counseled and trained by non-government organizations or veterinary doctors to manage the health of their animals.
Market Synopsis
Drugs are preferred for their instant and target-specific therapeutic effects in managing pain in pets and livestock.
The drugs preferred in pain management are opioids, 2-adrenergic agonists, non-steroidal anti-inflammatory drugs, disease-modifying anti-rheumatic drugs, and others, including sedatives and corticosteroids. As a result, the drug of choice is determined by the type of disease and the intensity of pain. Drugs have been and will continue to be the primary method of pain management in veterinary medicine. The key factors responsible for the growth of the drugs segment are the rising prevalence of pain-inducing disorders, increasing advancements in clinical trials for veterinary pain management, and the wide range of drug options that provide flexibility to veterinary doctors to manage pain management.
Increasing humanization of pets and rising awareness related to the diagnosis and treatment of livestock in Asian countries will drive the market for veterinary pain management.
Asia Pacific is expected to grow significantly throughout the forecast period from 2018 to 2026. The major market drivers assisting its growth are the rising prevalence of degenerative diseases in Asia, rising awareness related to the diagnosis and treatment of diseases affecting pets and livestock, and rising adoption and humanization of pets, which are trending in Asian countries. According to industry experts, every year in India, around 600,000 pets (as of 2016) are adopted, and the rising population of pets has opened several opportunities for occupations and businesses related to pet healthcare in the country. According to the National Bureau of Statistics of China, in 2014, China had 27.4 million pet dogs and 58.1 million pet cats. Thus, India and China were observed as the most promising and potential veterinary pain management markets in the near future.
Periods of History and Forecast
The veterinary pain management market was analyzed considering current market trends for the base year of 2017, and based on future trends, CAGRs were calculated for the forecast period from 2018 to 2026.
Report Scope by Segments
This report provides an in-depth analysis related to the veterinary pain management market, including market interpretations and conclusions presented based on qualitative and quantitative data extracted through secondary and primary research. Industry experts have helped to analyze and derive market drivers, opportunities, and challenges further narrowed down to region- and country-level. This report also includes a detailed analysis of the global veterinary pain management market, which is segmented by product type, application, and geography. The report also provides a competitive analysis of the key players present in the veterinary pain management market that covers in-depth data related to the companies, along with the latest business strategies and product profiles.
The major companies present in the market are profiled based on their product portfolios, latest market updates, financial information, and key strategies. This report also covers attractive investment propositions analyzed with the assistance of comprehensive geographical research based on PESTEL analysis. Key companies analyzed in the report are Zoetis, Chanelle Veterinary Limited, Assisi Animal Health, Boehringer Ingelheim, Merck Animal Health, Vetoquinol, Norbrook, Elanco, Ceva Santé Animale, Bayer, K-Laser, and Dechra Pharmaceuticals, among others.
Key questions are answered in this report.
Which is the trending product type in the market preferred for veterinary pain management, and why?
What are the recent market strategies applied by key players and the competitive analysis specific to the veterinary pain management market?
Which are the major geographical markets (regions and countries) in the veterinary pain management market?
Which are the largest and fastest-growing intracranial stent types globally?
How is the competitive landscape of the veterinary pain management market and the policies of major players in this industry?
Frequently Asked Questions:
The market for Veterinary Pain Management Market is expected to reach US$ 1,078.5 Mn in 2026.
The Veterinary Pain Management Market is expected to see significant CAGR growth over the coming years, at 7.9%.
The report is forecasted to 2018-2026.
The base year of this report is 2017.
Boehringer Ingelheim,Zoetis,Elanco, Merck Animal Health, Bayer are some of the major players in the global market.
