Global Veterinary Pain Management Market Overview
According to TechSci Research’s report titled “Veterinary Pain Management Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028,” the global veterinary pain management market is poised for substantial growth within the forecast period from 2024 to 2028. This growth can be attributed to several key factors that are driving the market’s expansion.
Factors Driving Market Growth
- Increasing Awareness and Pet Adoption: There is a rising awareness of the importance of proper pet care, coupled with a global trend towards increased pet adoption. This trend is contributing significantly to the growth of the veterinary pain management market.
- Technological Advancements and Innovation: Developed regions, particularly in North America and Europe, are witnessing substantial investments in technological advancements and innovations in the field of veterinary pain management. This influx of advanced technology is expected to create lucrative growth opportunities in the coming years.
- Rising Incidence of Pet Obesity: The prevalence of pet obesity is on the rise, further fueling the demand for veterinary pain management solutions.
- Increase in Veterinary Practitioners and Income Levels: Developing regions are experiencing a growing number of veterinary practitioners, and their income levels are on the upswing. Additionally, the increased consumption of meat and milk products is contributing to market growth during the forecast period.
- Growing Incidence of Animal Diseases and Inflammation: The veterinary pain management market is also benefiting from the increasing incidence of animal diseases and inflammation.
- Pet Insurance Adoption: The growing adoption of pet insurance, coupled with increased animal healthcare expenditure, is expected to drive sustained market growth.
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Challenges and Limitations
However, it’s essential to acknowledge the challenges that may hamper the growth of the global veterinary pain management market:
- High Cost of Pet Care Management: The high cost associated with pet care management globally can act as a hindrance, potentially slowing down market growth.
- Costly Technology: Advanced technology used in pain management devices can result in elevated costs, which may impede market expansion.
- Poor Reimbursement Scenarios: Inadequate reimbursement scenarios and limited technology penetration in developing economies could restrict the market’s global growth.
The global veterinary pain management market can be divided into various segments:
- Pain Management Drugs
- Joint Pain
- Cancer Pain
- Postoperative Pain
By Animal Type
- Companion Animals
- Livestock Animals
Dominant Trends and Forecasts
- In the application segment, postoperative pain management dominated the market in 2022 and is expected to continue its dominance throughout the forecast period. This is primarily due to the increasing number of veterinary surgeries, particularly in developing countries where chronic illnesses are prevalent.
- Within the animal type category, companion animals, specifically the cat segment, are projected to maintain dominance during the forecast period. This is driven by the increasing ownership of cats in developing countries and a rise in pet healthcare expenditure across urban and developing regions. Moreover, the growing incidence of chronic diseases and heightened awareness among animal healthcare organizations will further bolster market growth.
What Will You Get in the Sample Report?
The sample report provides a comprehensive insight into the global veterinary pain management market, encompassing factors driving growth, challenges, market segmentation, and dominant trends, along with forecasts for various segments and regions. Additionally, it offers an understanding of the competitive landscape and potential opportunities in this market.
Who Will Benefit from this Report?
This report will prove valuable to stakeholders, including market researchers, industry professionals, investors, and decision-makers, seeking in-depth knowledge of the global veterinary pain management market. It serves as a crucial resource for making informed business decisions and exploring growth prospects within this dynamic industry.
Download Free Sample Report – https://www.techsciresearch.com/sample-report.aspx?cid=14422
Major companies operating in the global veterinary pain management market are:
- Boehringer Ingelheim International GmbH
- Zoetis Inc.
- Elanco Animal Health Incorporated
- Norbrook Laboratories Limited
- SeQuent Scientific Limited
- Merck & Co., Inc.
- Dechra Pharmaceuticals Plc
- Vetoquinol S.A.
- Ceva Santé Animale SA
- Chanelle Pharma Group Ltd.
For instance, in October 2020, FECAVA announced the launch of the campaign, FECAVA Basic Practices in Anesthesia and Analgesia, which will include important lectures around Europe in the upcoming years and a series of six ready-to-use, printable posters or infographics regarding anesthesia and pain management in animals.
Customers can also request for 10% free customization on this report.
“North America is expected to dominate in the global veterinary pain management market on account due to the increasing pet care ownership and demand for effective animal care across the region. Furthermore, the increasing trend of pet adoption and the emerging regional economy, and the increasing prevalence of animal diseases such as deficiency diseases, hereditary diseases, and physiological diseases led to a rising number of surgeries further contributing to the demand for veterinary pain management. Also, growing expenditure for research and development proficiencies in the developing regions pertaining to medical instruments and devices will further propel the growth of the market during the forecasted periods. Besides, the availability of skilled professionals to handle all pets and increasing collective efforts by key players to improve their product portfolio to ensure high-quality standards are further expected to create lucrative opportunities for market growth” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“Veterinary Pain Management Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028 Segmented By Product (Medications v/s Medical Devices), By Application (Joint Pain, Cancer Pain, Postoperative Pain, Others), By Animal Type (Companion Animal v/s Livestock Animal), By Region and Competition”, has evaluated the future growth potential of global veterinary pain management market and provides statistics & information on market size, structure, and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in global veterinary pain management market.
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About TechSci Research:
TechSci Research is a research-based management consulting firm providing market research and advisory solutions to its customers worldwide, spanning a range of industries. TechSci Research’s core values are value, integrity and insight. Led by a team of dynamic industry experts, TechSci Research provides its customers with high value market research and advisory services that helps them identify new market opportunities, growth engines and innovative ways to capture the market share. As a result, TechSci’s client leads rather than follow market trends. Not bound by legacy, TechSci’s cutting-edge research model leverages its decades of research knowledge and increased use of technology as engines of innovation to deliver unique research value. Provided as an alternative to traditional market research, TechSci Research reports do not just deliver data and knowledge rather highlights the insights in a more usable and interactive format for its clients.
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