Veterinary pain management refers to various medications and medication regimens given to animals to relieve chronic pain. Physical compressions, massages, therapy, rehabilitation, acupuncture, laser therapy. And the prescription of therapeutic and antianxiety medications are all part of the treatment. These medications can be taken orally, given intravenously, or applied topically.
The market for veterinary pain management in 2021 was worth USD 1.44 billion, and by 2030 it will reach USD 2.92 billion at an 8.12% CAGR during the forecast period.
The market is driven by a higher trend in pet adoption and the growing awareness of better pet care. Future development possibilities for important businesses will benefit from investments in technical innovation and advancement.
The growing incidence of pet disease is driving growth in the veterinary pain management market. The high number of veterinary professionals and rising veterinary practitioner salary levels in industrialized nations are two key factors boosting the market growth. Additionally, the Veterinary Pain Management Market is growing due to a rise in demand for straightforward. Cost-effective treatment alternatives and increased awareness of animal welfare.
Furthermore, the market is also driven by an increase in the need to maintain animal health in developing nations. A rise in the adoption of insurance coverage globally, and an increase in government initiatives to promote animal care everywhere.
The two biggest expenses for pet owners are food and veterinary care, which results in a high annual cost of ownership. Basic Annual Expenses for Dogs and Cats, including food, supplies, over-the-counter medications, veterinary care, live animal acquisitions, grooming, and boarding, were $1480 and $902, respectively, according to the National Pet Owners Survey (2022).
The importance of food, gut health, and natural disease immunity in animals is increasingly understood. Opening up new opportunities for improving animal welfare and health. Precision nutrition is becoming possible because of probiotics, phytogenic feed additives, and novel feeds, including insect-based protein and seaweed. The Nutrition for Precision Health (NPH) Program will receive $170 million from the National Institutes of Health (NIH) over. The following five years to develop the still-emerging field of precision nutrition.
On the basis of product, the market is segmented into opioids, NSAIDs, Anesthetics, and others.
The NSAIDs segment ruled the market with a maximum market share of 9% and generated nearly USD 126.7 million in revenue. Non-steroidal anti-inflammatory drugs usually referred to as NSAIDs, are among the most popular and efficient medications for managing pain brought on by arthritis or after surgery. Nonsteroidal anti-inflammatory drug (NSAID) side effects in animals most frequently reported to the Center for Veterinary Medicine of the Food and Drug Administration (FDA) include vomiting, diarrhea, and diminished or absent appetite.
By Animal Type
On the basis of animal type, the market is segmented into livestock and companion.
The companion animal category had the biggest industry share in terms of revenue. It is due to the increasing rate of chronic diseases, awareness among animal healthcare organizations. growth in the number of pets, and high spending on animal healthcare in developing countries. The demand for efficient animal care, an increase in pet ownership, and the rising incidence of obesity and other chronic diseases, including osteoarthritis and cancer, are all driving the market’s expansion.
On the basis of end-user, the market is segmented into retail veterinary pharmacies, veterinary pharmacies, and online pharmacies.
The veterinary hospitals held a maximum market position with the largest revenue share of nearly 35% and generated USD 492.7 million. This is because veterinary hospitals provide patients with various diagnostic and treatment options. A major development driver is the growing demand for outpatient clinics to handle the increasing number of surgical procedures. Additionally, investments made to advance diagnostic techniques through the creation of next-generation technology for companion animal diagnostics will benefit. The sector’s growth during the forecast period.
North America was the largest market for veterinary pain management in 2021, with a share of 36%, and it generated USD 1,407.8 million. North America was the largest market due to the rising number of people. Who own pets and the rising demand for items that properly care for animals. The highly developed and reputable animal healthcare facilities are additional factors expanding market growth.
Between 2021 and 2030, the market in Asia Pacific will expand at the quickest CAGR. Asia Pacific will experience lucrative growth because of the rising trend of pet adoption and the region’s expanding economy. An additional factor boosting market growth is the rising frequency of animal ailments. Which has also led to an increase in surgical treatments.
- Bayer AG
- Merck Sharp & Dohme Corp
- BoehringerIngelheim International GmbH
- Dechra Pharmaceuticals
- Assisi Animal Health
- Evonik Industries AG
- IDEXX Laboratories
- Novusint Cargill Incorporated
- Charoen Pokphand Group)
- Kemin Industries, Inc.
- BASF SE
- ADM Nutreco
- Sumitomo Chemical
The market for veterinary pain management in 2021 was worth USD 1.44 billion. And by 2030 it will reach USD 2.92 billion at an 8.12% CAGR during the forecast period. In general veterinary practice, pain management gives vets the knowledge. They need to identify and treat pain in a wide range of animal species.
In April 2022, the FDA supported Vatinoxan hydrochlorides and Medetomidine infusion for canines going through unambiguous clinical assessments and strategies and minor careful tasks. Medetomidine is a manufactured medication utilized as a careful sedative and a pain relieving. Vatinoxan cuts down the antagonistic cardiovascular impacts of medetomidine by keeping up with the pulse in the typical reach, in this manner working on the cardiovascular capability and the security profile of medetomidine while the canine is calmed. Zenalpha is meant to give sedation and help of agony that goes on for the term of the sedation to canines for clinical assessments or methodology which require the canine to stay actually, quiet or calm.
Heat Exchanger Market Report – The global heat exchanger will witness a robust CAGR of 5.3%, valued at $16.32 billion in 2021, expected to appreciate and reach $25.9 billion by 2030, confirms Strategic Market Research. Asia-Pacific will dominate the world’s heat exchanger industry with a market share of over 30% in 2020. A heat exchanger is equipment that converts heat from one working fluid to another.