Overview
The global veterinary pain management market share will grow at a CAGR of 4.50% during the forecast period 2023 to 2032. The market for veterinary pain management is set to reach US$ 6.12 billion by 2032. As per veterinary pain management market analysts, the global market is anticipated to witness growth owing to the factors such as the growing animal welfare funding as well as the rise in pet insurance. However, this market will face challenges and restraints due to lack of information and unfavorable policies during the forecast period 2023 to 2032.
As per veterinary pain management market analysts, the veterinary pain management market-based companies will face certain challenges during the forecast period 2023 to 2032. The veterinary pain management market research report provides in-depth analysis of the animal type, application, distribution channel, and product segments. The veterinary pain management industry research report presents factors such as complex reimbursement that could slow down the veterinary pain management market’s growth.
The veterinary pain management market is segmented by product, application, animal type, distribution channel, and region. By product, the market is divided into medications and devices. Medications include non-steroidal anti-inflammatory drugs (NSAIDs), opioids, local anesthetics, alpha-2 agonists, corticosteroids, and others. Devices include laser therapy devices, electromagnetic therapy devices, acupuncture devices, shock wave therapy devices, and others. By application, the market is categorized into joint pain, cancer pain, postoperative pain, and others. By animal type, the market is classified into companion animals and livestock animals. Companion animals include dogs, cats, horses, and others. Livestock animals include cattle, swine, poultry, and others. By distribution channel, the market is segmented into veterinary hospitals and clinics, pharmacies and drug stores, online stores, and others.
Market Segmentation
The market for veterinary pain management has been segmented into animal type, application, distribution channel, and product. Based on the segment which is animal type, the market is categorized on the basis of companion animals and livestock animals. The global market for veterinary pain management is further segmented based on application into joint pain (osteoarthritis, musculoskeletal disorders), postoperative pain, cancer, others. Furthermore, the market, on the basis of the distribution channel is segmented into ambulatory surgery centers, hospitals & clinics, and others. Based on the segment which is the product, the market is categorized on the basis of A2-adrenergic agonists, local anesthetics, medication (nonsteroidal anti-inflammatory drugs (NSAIDS), muscle relaxants, opioids, and sedatives.
The veterinary pain management market outlook report offers comprehensive study of this market segments including animal type, application, distribution channel, and product. The analysts have also studied the veterinary pain management market’s spread across the regional markets across many of the veterinary pain management market’s segments at country levels. The animal type, application, distribution channel, and product segments spread across the veterinary pain management market along with the subsegments are studied. The global market for veterinary pain management is spread across various product and service based segments. This market research report highlights these key segments and offers forecasts based on primary and secondary data. The global veterinary pain management market research report presents key company profiles of organizations active across the veterinary pain management market.
Key Players:
The Veterinary Pain Management markets major players such as Ceva (US), Boehringer Ingelheim (Germany), Assisi Animal Health (US), Eltech K-Laser (Italy), Zoetis (US), Elanco (US), Merck Animal Health (US), Bayer AG (Germany)
Industry News
Zoetis Inc. has reported that it is purchasing US$6,72 a share or an estimated value of around US$85 million in Nexvet Biopharma Veterinary Biological Therapy Business. The buy is scheduled to end in the second half of 2017, pending clearance. The transaction will boost Zoetis’ chronic pain treatment solutions portfolio in dogs and cats with its head office in Parsippany, N.J. According to the firm. Nexvet is based in Tullamore, Ireland and is established in 2010 and is developing monoclonal (mAb) treatments in the pain and other therapy areas for accompanying animals.
Regional Overview
The lack of knowledge of severe disease problems may hinder the veterinary pain management market growth. The veterinary pain management market research report suggests that companies in the this market could be supported by an increase in animal welfare spending as well as the rising prevalence of animal diseases during the forecast period. The market for veterinary pain management is set to register growth at a high CAGR owing to these key factors. The market for veterinary pain management is spread across North America, Europe, Asia-Pacific, and other parts of the world. As per veterinary pain management market analysts, this market is set to witness tremendous growth across animal type, application, distribution channel, and product segments. The global veterinary pain management market’s North American region covers veterinary pain management markets across the United States, Mexico, Canada, and others. Businesses present in the this market are also profiled and their strategies have been presented in detail in the veterinary pain management market research report.
The veterinary pain management market across the European region covers Italy, France, Germany, and the United Kingdom. Furthermore, the veterinary pain management market research report provides details about the APAC region covering veterinary pain management markets from China, India, Australia, Japan, and others. The market for veterinary pain management is also active across several other parts of the world. The veterinary pain management market report covers all these key regions including the Middle East, Africa, Brazil, and others active in the global veterinary pain management market..
Competitive Landscape
Veterinary pain management has seen tremendous growth, due to a rise in the need to sustain animal health and the increase in the acceptance of pet insurance worldwide. However, high cost and lack of infrastructure in developing countries would challenge the companies active in the veterinary pain management market. Furthermore, companies using growth strategies to stay ahead in the global veterinary pain management market are expected to help the market during the
forecast period 2020 to 2027. As the market report suggests that the market for veterinary pain management will register a CAGR of 6.46% and reach a US$4.5 billion by 2027, the market report highlights key areas veterinary pain management market-based companies need to focus on. The veterinary pain management market research report projects a long term growth till 2027. Based on veterinary pain management market’s analysis on the basis of SWOT and Porters’ Five Force Model, this market will rise during the forecast period 2020 to 2027, however the companies need to move ahead with caution. The veterinary pain management market research report highlights such key areas.
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