The latest report by IMARC Group, titled “Veterinary Pain Management Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028,” offers a comprehensive analysis of the industry, which comprises insights on the veterinary pain management market growth. The report also includes competitor and regional analysis, and contemporary advancements in the market. The global veterinary pain management market size reached US$ 1.4 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 2.1 Billion by 2028, exhibiting a growth rate (CAGR) of 6.6% during 2023-2028.
Veterinary pain management refers to several therapeutic and antianxiety drugs that are administered to animals for providing relief from chronic pain. It primarily involves the observation of behavioral cues, severity, and duration of the pain, anticipating the type of ailment, implementing changes in housing conditions, etc. Veterinary pain management comprises of laser therapy, physical compresses, massages, rehabilitation, acupuncture, etc., that are effective against acute surgical, traumatic, and disease-related pain. It also assists in improving the overall health of the animal.
Global Veterinary Pain Management Market Trends:
The rising domestication of animals is among the key factors driving the veterinary pain management market. Furthermore, the growing consumer awareness towards the availability of opioids, nonsteroidal anti-inflammatory drugs (NSAIDs), laser devices, local anesthetics, etc., to offer relief from the pain caused by radiotherapy, musculoskeletal disorders, chemotherapy, osteoarthritis, mastitis, etc., is also catalyzing the market growth.
In line with this, these solutions are painless, have fewer complications, and do not require sedation when compared to the traditionally used procedures, which, in turn, is acting as another significant growth-inducing factor.
Additionally, the increasing adoption of pet insurance services is further augmenting the global market. Besides this, the introduction of numerous technological advancements, including biosensors, non-polymerase chain reaction techniques, immunoassays, etc., for the effective diagnosis of diseases is anticipated to fuel the veterinary pain management market over the forecasted period.
Global Veterinary Pain Management Market 2023-2028 Analysis and Segmentation:
Competitive Landscape with Key Players:
The competitive landscape of the industry has also been examined along with the profiles of the key players being:
- Assisi Animal Health
- Bayer AG
- Boehringer Ingelheim International GmbH (C. H. Boehringer Sohn AG & Co. KG)
- Ceva Sante Animale
- Chanelle Pharma
- Dechra Pharmaceuticals PLC
- Eli Lilly and Company
- Idexx Laboratories Inc
- Merck & Co. Inc.
- Vetoquinol S.A.
- Zoetis Inc.
Key Market Segmentation:
- Other Drugs
- Laser Therapy
- Electromagnetic Therapy
- Osteoarthritis and Joint Pain
- Postoperative Pain
- Hospitals and Clinics
- North America (United States, Canada)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
Key Highlights of the Report:
- Market Performance
- Market Outlook
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
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