DUBLIN–(BUSINESS WIRE)–The “Veterinary Pain Management Market by Product (Drug (NSAIDs, Opioids), Route of Administration (Oral, Parenteral), Device (Laser)), Application (Joint Pain, Cancer), Animal (Companion and Livestock), End User (Hospital, Pharmacy) – Global Forecast to 2027” report has been added to ResearchAndMarkets.com’s offering.
The veterinary pain management market is projected to reach USD 2.5 Billion by 2027 from USD 1.8 Billion in 2022, at a CAGR of 6.7% during the forecast period. This market is subsegmented into by Product, Application, Animal, End User, And Region.
The opioids segment holds the second largest share in the veterinary pain management market by drug type in 2021
The veterinary pain management drugs market is segment into NSAIDs, opioids, local anesthetics, alpha-2 agonists, disease-modifying osteoarthritis drugs, and other drugs on the basis of drug type. In 2021, the opioids segment accounted for a second largest share of the veterinary pain management drugs market.
Laser therapy device segment holds the largest share in the veterinary pain management market by device type in 2021
Based on types of veterinary pain management devices, the market is segmented into laser therapy and electromagnetic field therapy devices. The laser therapy devices segment accounted for the largest share in 2021. Laser therapy is effective in curing a wide range of acute and chronic pain conditions; it targets and cures the cause of pain, ruling out the need for painful invasive surgeries and further use of pain relief drugs. These advantages are expected to drive the growth of laser therapy devices in the veterinary pain management devices market.
Dog holds the largest share of the Companion animal veterinary pain management market in 2021
Based on animal type, the veterinary pain management market is segmented into companion animals and livestock animals. The companion animals segment accounted for the largest share of the veterinary pain management market in 2021. The large share of this segment can be attributed to the increasing companion animal ownership, growing awareness about animal health among pet owners, and rising pet healthcare expenditure
China is projected to register the highest growth rate of the APAC veterinary pain management market in 2021
The China market is estimated to grow at the highest CAGR during the forecast period. The factors such as increasing number of veterinary surgeries, increasing pet insurance, increasing the demand of animal derived factors, and increasing veterinary hospitals and clinics are contributing the growth of China market in veterinary pain management market during forecast period.
Market Dynamics
Drivers
- Growth in Companion Animal Population
- Increasing Consumption of Meat & Milk
- Growing Prevalence of Diseases
- Increasing Number of Veterinary Practitioners in Developed Economies
Restraints
- Rising Pet Care Costs
Opportunities
- Increasing Popularity of Non-Conventional and Non-Pharmaceutical Treatment Techniques
- Untapped Emerging Markets
Challenges
- Stringent Regulatory Process
Companies Mentioned
- Ashish Life Science Pvt. Ltd.
- Assisi Animal Health
- Avazzia
- Boehringer Ingelheim International GmbH
- Century Pharmaceuticals Ltd.
- Ceva Sante Animale
- Chanelle Pharma
- Dechra Pharmaceuticals
- Elanco Animal Health Incorporated
- Fidelis Animal Health
- Irm Enterprises Pvt. Ltd.
- K-Laser Usa
- Labindia Healthcare Private Limited
- Merck & Co. Inc.
- Morvel Laboratories Pvt. Ltd.
- Multi Radiance Medical
- Norbrook Laboratories Limited
- Ourofino Animal Health
- Richter Pharma AG
- Sequent Scientific Limited
- Sound Technologies
- Vetindia Pharmaceuticals Ltd.
- Vetoquinol
- Zoetis Inc.
- Zuche Pharmaceuticals Pvt. Ltd.
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