• The Global Veterinary Pain Management Market is expected to grow at a CAGR of 5.10% during the forecast period 2019-2026.
• Veterinary Pain Management refers to the medical services for the prevention, diagnosis, and treatment of diseases like Osteoarthritis, Postoperative pain, and Cancer in companion and livestock animals.
Veterinary Pain Management Market Drivers and Restraints
• The rising prevalence of painful and inflammatory diseases in animals, increasing animal ownership, rising expenditure for animal healthcare, growing awareness about animal health and increase in veterinary services are the primary factors driving the Veterinary Pain Management Market globally.
• The diseases like cancer and osteoarthritis are rapidly increasing in animals. There are about 65 million dogs and 32 million cats in the United States. According to the Animal Cancer Foundation, each year, approximately 6 million dogs were diagnosed with cancer similar number of cats were along diagnosed with cancer in the U.S. According to The Veterinary Cancer Society, disease is a leading cause of death in 47% of dogs, especially dogs over age ten, and 32% of cats. Thus, the rising trend of cancer in cats and dogs in the U.S. will propel the market for Veterinary Pain Management.
• The side-effects like vomiting, diarrhea, stomach ulcers, skin irritation, depression and restlessness associated with the use of Veterinary drugs is making the animal owners reluctant in putting their pets under medication. Therefore, the side-effects in animals about the use of veterinary drugs can restrain the market during the forecast period.
Veterinary Pain Management Segmentation Analysis
• The Global Veterinary Pain Management Market segmented by product, application and animal type. Product type segment includes Drugs and Device.
• Further, the application segment comprises of Osteoarthritis, Cancer, Postoperative Pain and Joint Pain.
• Based on the animal type the market can be segmented as Livestock and Companion Animal. The companion animal segment accounts for the broader market share.
• It can be attributed to the increasing companion animal ownership, growing awareness regarding pet health among pet owners and rising pet healthcare expenditure. In U.K., the Pet owners spend most on Veterinary Services for their pets after Pet food; this trend will propel the market for Veterinary pain management in U.K. in the nearby future.
Global Veterinary Pain Management Market Geographical Share
• The report segments the market by geography which includes North America, South America, Europe, Asia-Pacific and Rest of the World.
• North America is the most dominant region for Veterinary Pain Management Market owing to the high number of animal adoptions, increasing animal healthcare expenditure and growing veterinary practices.
• The rising prevalence of chronic diseases such as osteoarthritis and cancer is also contributing to the growth of the Veterinary Pain Management Market in this region.
• Asia-Pacific is estimated to be the fastest growing region during the forecast period due to the large livestock population in countries such as China and India. According to the Indian Ministry of Agriculture, the livestock population in India was around 512 million in 2012.
• Thus the large livestock population and rising incidents of joint pain, osteoarthritis and cancer in the APAC region will boost the market for veterinary pain services in the coming years.
Industry Competition in Veterinary Pain Management Market
• Some of the key players in the Global Veterinary Pain Management market are Assisi Animal Health, Boehringer Ingelheim, Ceva, Chanelle Veterinary Limited, Dechra Pharmaceuticals Plc, Elanco, Intervet Inc., Northbrook, Vetoquinol S.A., and Zoetis.
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