Global Veterinary Pain Management Market Insights Forecasts to 2030
- The global Veterinary Pain Management Market was valued at USD 1,407.8 million in 2021.
- The market is growing at a CAGR of 6% from 2021 to 2030.
- The global Veterinary Pain Management Market is expected to reach USD 2378.4 million by 2030
- The Asia Pacific is expected to grow the fastest during the forecast period
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The global Veterinary Pain Management Market is expected to reach USD 2378.4 million by 2030, at a CAGR of 6% during the forecast period 2021 to 2030. The growth of this market is anticipated to be driven by many factors, including an increase in the adoption of companion animals, an increase in the number of veterinarians as well as an increase in the income levels of veterinarians working in developed economies, an increase in the consumption of meat and milk, an increase in the prevalence of animal diseases that cause pain and inflammation, and an increase in the adoption of pet insurance in conjunction with an increase in the amount spent on animal healthcare.
Treating pain in animals is an essential component of veterinary medicine and should never be neglected. When animals are in pain, it impedes their ability to heal and increases their stress level, even if they are already ill. Cancer, arthritis, or previous surgical procedures can all cause pain in animals, which might result in the animal becoming less active or more aggressive. The management of pain is the primary objective, concurrently with the diagnosis and treatment of any underlying diseases, as well as the promotion of healing and recovery. The field of pain management practice equips veterinarians with the knowledge necessary to diagnose and treat pain in a diverse variety of big, small, and unusual animals. In the treatment of pain brought on by arthritis or after surgery, non-steroidal anti-inflammatory medicines are among the medications that are the most widely used and also among the most successful. Furthermore, an increase in public-private funding for target research activities, a rising pet population, an increasing number of road accidents involving animals, and rising product innovations and development as a result of technological advancements all around the world will extend lucrative opportunities for market players during the forecast period of 2022 to 2030. These factors will combine to create a favorable environment for market growth. In addition, a growing awareness about the importance of promoting animal health, an increase in the prevalence of preventive treatments and care facilities for companion animals, a rise in the popularity of non-conventional and non-pharmaceutical treatment techniques, and an increase in the amount of money spent per capita on health care will further expand the growth rate of the market in the future.
This research report categorizes the market for global Veterinary Pain Management based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the global Veterinary Pain Management market. Recent market developments and competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each global Veterinary Pain Management market sub-segments.
Global Veterinary Pain Management Market Report Coverage
|Market Size in 2021:||USD 1,407.8 million|
|Forecast Period 2021-2030 CAGR:||6%|
|2030 Value Projection:||USD 2378.4 million|
|Historical Data for:||2017-2020|
|No. of Pages:||210|
|Tables, Charts & Figures:||132|
|Segments covered:||By Drug Type, By End-User, By Region, COVID-19 Impact Analysis|
|Companies Covered:||Zoetis, Elanco, Bayer AG, Norbrook, Ceva, Dechra Pharmaceuticals, Assisi Animal Health, Merck Sharp & Dohme Corp, Boehringer Ingelheim International GmbH, Virbac, IDEXX Laboratories, Vetoquinol, Evonik Industries AG, DuPont, DSM, Adisseo|
|Pitfalls & Challenges:||COVID-19 has the potential to impact the global market|
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- In 2021, the Nonsteroidal Anti-inflammatory Drugs (NSAIDs) segment dominated the market with the largest market share of 9% and a market revenue of 126.7 million.
Based on the drug type, the veterinary pain management market is categorized into opioids, morphine, hydromorphone, codeine, α2-adrenergic agonists, xylazine, medetomidine, local anesthetics, bupivacaine, lidocaine, chloroprocaine, nonsteroidal anti-inflammatory drugs (NSAIDs), etodolac, fentanyl, meloxicam, sedatives, and corticosteroids. In 2021, the Nonsteroidal Anti-inflammatory Drugs (NSAIDs) segment dominated the market with the largest market share of 9% and a market revenue of 126.7 million. In treating pain brought on by arthritis or after surgery, non-steroidal anti-inflammatory medicines, sometimes known as NSAIDs, are among the most widely used medications and are also among the most effective. Some of the most common adverse effects of nonsteroidal anti-inflammatory drugs (NSAIDs) in animals reported to the Center for Veterinary Medicine of the Food and Drug Administration (FDA) include diarrhea, reduced or absent appetite, decreased activity level, and vomiting.
- In 2021, the Veterinary Hospital segment accounted for the largest share of the market, with 35% and a market revenue of 492.7 million.
Based on end users, the veterinary pain management market is categorized into veterinary hospitals, retail veterinary pharmacies, and online pharmacies. In 2021, veterinary hospitals dominated the market with the largest market share of 35% and market revenue of 492.7 million. This was because Veterinary hospitals provide patients with a diverse selection of diagnostic and therapeutic alternatives. In addition, a significant development driver is a rising need for outpatient clinics to meet the rising volume of surgical procedures. It is also anticipated that investments made to improve diagnostic methods via the development of new generation technologies for diagnostics in companion animals would bode well for the growth of the sector throughout the projected period.
Regional Segment Analysis of the Veterinary Pain Management Market
- North America (U.S., Canada, Mexico)
- Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
- Asia-Pacific (China, Japan, India, Rest of APAC)
- South America (Brazil and the Rest of South America)
- The Middle East and Africa (UAE, South Africa, Rest of MEA)
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Among all regions, North America emerged as the largest market for the global Veterinary Pain Management Market, with a market share of around 36% and 1,407.8 million of the market revenue in 2021.
- In 2021, North America emerged as the largest market for the global Veterinary Pain Management Market, with a market share of around 36% and 1,407.8 million of the market revenue. Because of the growing number of people who own pets and the increased need for products that effectively care for animals, North America accounted for the greatest revenue share. In addition, highly advanced and well-established animal healthcare facilities are another factor that is contributing to the expansion. As of the year 2021, prescriptions written by veterinarians in North America are required by law, which is expected to provide a boost to sales of prescription drugs throughout the course of the projected period. Rising joint efforts by major companies to increase their product portfolio and to assure high-quality standards are predicted to raise the regional demand.
- The Asia Pacific market is expected to grow at the fastest CAGR between 2021 and 2030. Because there is a rising tendency for adopting pets and there is an expanding economy in the region, analysts anticipate that Asia Pacific will demonstrate profitable growth over the course of the projected year. In addition, the high incidence of animal illnesses has resulted in an increase in the number of surgical procedures, which is another factor that is contributing to the expansion. For example, according to a research that was released in 2020 by the Indian Pet and Equine Industry (IIPTF), there were around 15 million families in India that owned pets, and there were 600,000 pets that were adopted. Due to this adoption of pets the asia pacific is expected to grow in the forecast period.
The report offers the appropriate analysis of the key organizations/companies involved within the Global Veterinary Pain Management Market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.
List of Key Market Players:
- Bayer AG
- Dechra Pharmaceuticals
- Assisi Animal Health
- Merck Sharp & Dohme Corp
- Boehringer Ingelheim International GmbH
- IDEXX Laboratories
- Evonik Industries AG
Key Target Audience
- Market Players
- Government Authorities
- Consulting And Research Firm
- Venture capitalists
- Third-party knowledge providers
- Value-Added Resellers (VARs)
- In june 2021, The permission to produce Spot on for sale in the United States market was granted to Chanelle Pharma by the Food and Drug Administration (FDA). A topical therapy known as Spot On is applied to the skin of cats and dogs to ward off parasites.
- In september 2021, An ownership investment in New Ruipeng Group (NRP Group), a Chinese corporation engaged in veterinary care, e-commerce, and other services, was bought by Boehringer Ingelheim International Gmbh. NRP Group is a subsidiary of New Ruipeng Group.
- In April 2021, The cow pain campaign was initiated by Ceva Santé Animale with the purpose of increasing public awareness on the significance of providing pain management for lame calves.
This study forecasts revenue at global, regional, and country levels from 2022 to 2030. Spherical Insights has segmented the global Veterinary Pain Management market based on the below-mentioned segments:
Global Veterinary Pain Management Market, By Drug Type
- α2-adrenergic Agonists
- Local Anesthetics
- Nonsteroidal Anti-inflammatory Drugs (NSAIDs)
Global Veterinary Pain Management Market, By End-User
- Veterinary Hospital
- Retail Veterinary Pharmacies
- Online Pharmacies
Global Veterinary Pain Management Market, Regional Analysis
- North America
- The US
- Rest of Europe
- The Asia Pacific
- South Korea
- Rest of Asia Pacific
- South America
- Rest of South America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of the Middle East & Africa
Frequently Asked Questions (FAQ)
What is the market size of the Veterinary Pain Management market?As per Spherical Insights, the size of the Veterinary Pain Management market was valued at USD 1,407.8 million in 2021 to USD 2,378.4 million by 2030.
What is the market growth rate of the Veterinary Pain Management market?The Veterinary Pain Management market is growing at a CAGR of 6% from 2021 to 2030.
Which country dominates the Veterinary Pain Management market?North America emerged as the largest Veterinary Pain Management market.
Who are the key players in the Veterinary Pain Management market?Key players in the Veterinary Pain Management market are Zoetis, Elanco, Bayer AG, Norbrook, Ceva, Dechra Pharmaceuticals, Assisi Animal Health, Merck Sharp & Dohme Corp, Boehringer Ingelheim International GmbH, Virbac, IDEXX Laboratories, Vetoquinol, Evonik Industries AG, DuPont, DSM, and Adisseo.
Which factor drives the growth of the Veterinary Pain Management market?The increasing prevalence of animal diseases that cause pain and inflammation drives the market's growth.
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