Veterinary Pain Management Market In depth Analysis on Latest Trend, Current Status and Insight 2027
Research Reports
Feb 15, 2022
Market Research Future (MRFR) in their detailed report on the global veterinary pain management market predicted a rise by 8.2?GR during the forecast period (2018-2023). The market valuation would gain a robust stand from its previous valuation of USD 1000 million in 2017.
Veterinary pain management market is a part of the animal care sector where various equipment and medicines are developed to ease the pains of pets and other animals. The market is witnessing significant growth due to the extensive research that is taking place in various countries to come up with best possible counter measures.
Major factor that is favoring the market is the increasing per capita income that is ensuring growing pet adoption rate. Cost-effective veterinary treatment is also another factor that can provide substantial tailwind to the market. Relentless works done by PETA and WHO are also triggering market expansion. But it can witness some setbacks due to lack of awareness among the commoners regarding pet healthcare.
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Competitive Landscape:
Notable players of the veterinary pain management market are Dechra Pharmaceuticals, Zoetis, Ceva Santé Animale, Chanelle, Norbrook Laboratories, Bayer, Merck Animal Health, Elanco, Boehringer Ingelheim, Assisi Animal Health, and Vetoquinol.
Segmentation:
MRFR, to aide their study and users has segmented the global veterinary pain management market by drug type, devices, route of administration, animal type, application, and end-user.
- Based on the Drug Type, the veterinary pain management market is segmented into nonsteroidal anti-inflammatory drugs, opioids, local anesthetics, ?2-adrenergic agonists, muscle relaxants, sedatives, and corticosteroids.
- Based on the Devices, the market can be sub-segmented into laser therapy devices and electromagnetic therapy devices.
- Based on the Route of Administration, the veterinary pain management market comprises oral, parenteral, and topical.
- Based on the Animal Type, the veterinary pain management market can be segmented into companion animals, livestock, research animals, aquatic animals, zoo animals, and exotic animals.
- Based on the Application-wise, the veterinary pain management market is segmented into joint pain, postoperative pain, and cancer.
- Based on the End-user, the veterinary pain management market includes veterinary hospitals and clinics, research institutes and universities, and laboratories.
Regional Analysis:
MRFR segments the veterinary pain management market into four regions North America, Europe, Asia Pacific (APAC), and Middle East and Africa (MEA).
North America is leading the charge with a wide range of animal care products, and with special emphasis on animal health. The region also has stringent government regulations to eliminate malpractice. In addition, advanced technologies are sufficiently providing tailwind to latest innovation by enabling research and development sector with in-depth study. Factors such as these are playing pivotal in market growth. Countries such as Canada and the U.S. are expanding their market by exporting exporting surgical equipment and surgical suturing material across the world. Besides, veterinary hospitals are also increasing in numbers which is further fueling market growth.
Increasing pet ownership is the reason behind Europe’s growth as a market and it further benefiting from the tax benefits granted by governments. European countries like Germany, France, and the U.K, are witnessing expenditure rising high to boost the production of medical and surgical devices.
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The APAC is also showing promising signs where countries such as India and China can contribute significantly to the market. Australia and Japan can also turn major contributors. China has the regional dominance, whereas, India can grow with the fastest CAGR during the forecast period.
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