Veterinary Pain Management Market

Scope–

Veterinary pain management is a crucial part of veterinary therapeutics. Pain in animals could be due to surgeries, any acute or chronic disease, injuries and even cancer and is generally accompanied with loss of appetite, aggression, and reduced activity. Improving animal healthcare services have led to a rising demand for veterinary pain management market. So, during the study of Global Veterinary Pain Management market, we have considered Veterinary Pain Management products and consumables to analyze the market.

According to the Animal Health Institute, the global market for animal medicines is about 1/40th compared to that of spent on human medicines. Increased humanization of pets, increasing awareness about animal health, increasing need of preventive treatments, medicines, and healthcare facilities for animals, prevalence of new diseases in animals are the major drivers for the growth of Global Veterinary Pain Management Market. Also, as per Animal Cancer foundation, roughly 6 million new cancer diagnoses are made in dogs and a similar number made in cats each year.

However, lack of awareness towards serious disease conditions in animals is the major restrains of the Global Veterinary Pain Management Market. Nonetheless, untapped market and awareness amongst among people about serious animal diseases may generate new opportunities in forecast period.

Statistics-

• Veterinary Pain Management Market was worth USD 1.66 billion in 2021
• Is projected to accumulate a valuation of USD 2.48 billion by 2028
• Registering a CAGR of 5.96% over 2022-2028

The Worldwide Veterinary Pain Management Industry dynamics have been evaluated by taking various market-based aspects into account.  In this report, 2021 has been taken as the base year. Further, the forecast period of 2022-2028 has been considered for the overall market analysis.

COVID-19 Impact-

The outbreak of the Coronavirus pandemic had a negative impact on the development of Veterinary Pain Management Market. Severe lockdown restrictions disrupted the supply chain veterinary pain management therapeutics. Apart from that, closure of manufacturing facilities, shortage of raw materials, and absence of adequate labour force further hampered the progression of this marketplace.

Key Players-

• Adisseo
• Ashish Life Science
• Assisi Animal Health
• Bayer Pharma AG
• Boehringer Ingelheim
• Ceva Sante Animale
• Chanelle Pharma
• Dechra Pharmaceuticals
• DuPont
• Elanco
• IDEXX Laboratories
• IRM Enterprises
• Irvine Vet Services
• K-Laser
• LABINDIA Healthcare
• Merck & Co. Inc.
• Merial
• Multi Radiance Medical
• Norbrook Laboratories
• SOUND Technologies
• Others

Segmental Assessment-

By Product

• Drugs
• Devices

By Animal Type

• Companion
• Livestock

By Application

• Postoperative pain
• Acute Pain
• Chronic Pain
• Cancerous pain

By End User

• Hospitals
• Veterinary Clinics
• Pharmacies

By Region -

North America

• U.S.
• Canada

Europe

• Germany
• France
• K.
• Italy
• Spain
• Sweden
• Netherland
• Turkey
• Switzerland
• Belgium
• Rest of Europe

Asia-Pacific

• South Korea
• Japan
• China
• India
• Australia
• Philippines
• Singapore
• Malaysia
• Thailand
• Indonesia
• Rest Of APAC

Latin America

• Mexico
• Colombia
• Brazil
• Argentina
• Peru
• Rest of South America

Middle East and Africa

• Saudi Arabia
• UAE
• Egypt
• South Africa
• Rest Of MEA

Major Growth Drivers-

• Increasing adoption of pets
• Improving animal healthcare facilities
• Rising disposable income levels

Market Trends-

Rising prevalence of chronic ailments in animals to aid industry expansion

There has been a steep rise in the pervasiveness of chronic diseases among animals across the globe. Such ailments often lead to inflammation and pain in animals leading to an escalating demand for pain management therapeutics. Pain is a primary clinical symptom of ailments like cancer and managing it has become a priority for veterinary professionals. These factors in turn are stimulating the dynamics of this business sphere.

Increasing pet adoption worldwide to fuel market growth

Surge in pet adoption across the globe is augmenting the outlook of this business vertical. Due to rise in the number of nuclear families and pervasiveness of mental health issues have pushed the masses to seek solace in companion animals. Pet owners are highly concerned about the health of their companion animals. They always want to give them the best healthcare and invest a lot of time and money to ensure that. This in turn is paving profitable prospects for the animal pain management industry.

Regional Trends-

North America- It is presently dominating the market with highest market share due to increasing The Center for Disease Control, the American Veterinary Medical Association and the American Animal Hospital Association have recently developed publications aimed at promoting preventative pet healthcare. The total number of pets covered under insurance plan in the U.S. and Canada reached 2.1 million at end of the year 2017, an increase by 17% from 2016. Pet ownership in the U.S has increased by more than triple since the 1970s. According to NAPHIA (North American Pet Health Insurance Association), there are approximately 179 million pets in North America and around 12 major pet insurance companies in North America. According to Insurance Information Institute, the total U.S. pet industry expenditures for the year 2017 were USD 69.4 billion.

Europe- It has emerged as the second largest market for Veterinary Pain Management. Animal healthcare and nutrition sector in Europe generates revenue of nearly USD 35.1 trillion. There are approximately 70 million pet-owning households across Europe Increasing animal adoption, improving veterinary healthcare sector, high investments in research and development activities, availability of affordable drugs are majorly responsible on growth of Veterinary Pain Management market in Europe.

Asia Pacific- The Veterinary Pain Management Market of APAC is witnessed with strong growth rate majorly due increasing adoption of pets, improved animal healthcare facilities, rising disposable income of people and government initiatives to improve animal healthcare. Developing countries such as India have a higher proportion of livestock.

Middle East & Africa- This region is anticipated to expand significantly over the assessment timeframe. This is attributable to the rising pet adoption trends, increasing disposable income of the masses, growing animal healthcare expenditure, and the influx of advanced technologies in this vertical.

Major Developments-

In April 2021, Zoetis announced the acquisition of Jurox. This decision enhanced the former’s offerings in pet anaesthetics portfolio.

Report Analysis	Details
Historical data	2015 - 2020
Forecast Period	2022 - 2028
Market Size in 2021:	USD 1.66 Billion
Base year considered	2020
Forecast Period CAGR %:	5.96%
Market Size Expected in 2028:	USD 2.48 Billion
Tables, Charts & Figures:	175
Pages	200
Companies	Adisseo, Ashish Life Science, Assisi Animal Health, Bayer Pharma AG, Boehringer Ingelheim, Ceva Sante Animale, Chanelle Pharma, Dechra Pharmaceuticals, DuPont, Elanco, IDEXX Laboratories, IRM Enterprises, Irvine Vet Services, K-Laser, LABINDIA Healthcare, Merck & Co. Inc., Merial, Multi Radiance Medical, Norbrook Laboratories, SOUND Technologies, Others.
Segments Covered	By Product , By Animal Type, By Application, By End User
Regional Analysis	North America, U.S., Mexico, Canada, Europe, UK, France, Germany, Italy, Asia Pacific, China, Japan, India, Southeast Asia, South America, Brazil, Argentina, Columbia, The Middle East and Africa, GCC, Africa, Rest of the Middle East and Africa