Pune India, Jan. 12, 2023 (GLOBE NEWSWIRE) -- The market has been studied for the below mentioned-segmentation and regional analysis for North America, Europe, Asia, South America, and the Middle East and Africa. These are the key regions where the veterinary pain management market is operating and is predicted to expand soon. The manufacturers and suppliers involved in the veterinary pain management market are present across various countries in the above-mentioned regions.
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The report provides a detailed understanding of the market segments which have been formed by combining different prospects such as the product, indication, animal type and regions. Apart from this, the key driving factors, restraints, potential growth opportunities and market challenges are also discussed in the below paragraphs.
The significant players operating in the global veterinary pain management market are IDEXX Laboratories, Elanco, Bayer AG, Virbac, Ceva, Dechra Pharmaceuticals, Assisi Animal Health, Merck Sharp & Dohme Corp, BoehringerIngelheim International GmbH, Norbrook, Zoetis, Vetoquinol among others. To achieve a substantial market share in the worldwide veterinary pain management market and strengthen their position, manufacturers are pursuing expansion methods such as current developments, mergers and acquisitions, product innovations, collaborations, and partnerships, joint ventures.
There are many large, small, and exotic animal species covered in Pain Management in Veterinary Practice, which offers veterinary practitioners the information needed to recognize and manage their pain. An in-depth look at the physiology and pathophysiology of pain, including acute, adaptive, chronic, and maladaptive pain. The practice of pain management provides veterinarians with the knowledge necessary to detect and manage pain in a variety of animals. To provide compassionate care to dogs and cats, pain control is one of the most important aspects of veterinary medicine. Government organizations are expected to increase initiatives to promote animal health globally, which will drive market growth. For example, a report by the European External Action Service shows that the European government spent USD 4.7 million on animal healthcare in 2016. A rapid evolution of digital monitoring and surveillance is rapidly transforming the animal health landscape, improving efficiency and speed. Digital technologies are transforming animal health through products like smart tags, sensors, remote monitoring surveillance, and smart building designs. The market growth is driven by various factors such as rising awareness about animal healthcare, increased R&D etc., but there are some factors which are hampering the growth of the market such as side-effects associated with the medications, high cost, lack of awareness about animal health etc.
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Scope of Veterinary Pain Management Market Report:
| Report Metric | Information |
| Study Period | 2022-2030 |
| Base Year | 2022 |
| Forecast Period | 2023-2030 |
| Market Share Unit | USD Billion |
| Segments Covered | Product, Indication, Animal Type,End-User, and Regions. |
| Regions Covered | North America, Europe, Asia-Pacific, South America, and Middle-East and Africa |
| Major Players | IDEXX Laboratories, Elanco, Bayer AG, Virbac, Ceva, Dechra Pharmaceuticals, Assisi Animal Health, Merck Sharp & Dohme Corp, BoehringerIngelheim International GmbH, Norbrook, Zoetis, Vetoquinol among others |
Segmentation Analysis
NSAIDs is expected to be the fastest-growing segment in 2022.
The product segment includes NSAIDs and Anesthetics. The NSAIDs segment is expected to witness the highest growth rate during the forecast period. New NSAIDs are being developed by businesses in an effort to reduce side effects and response to osteoarthritis-related pain and inflammation. These are the drugs which are most commonly used to treat osteoarthritis-related pain and inflammation. Moreover, strict regulations regarding the use of opioids are expected to boost the market over the forecasted period.
Osteoarthritis is expected to be the fastest-growing segment in 2022.
The Indication segment includes osteoarthritis and joint pain, postoperative pain, cancer, and other applications. The osteoarthritis segment is expected to witness the highest growth rate during the forecast period. It is estimated that 14.7 million dogs in the United States suffer from osteoarthritis. The treatment of mild pain with nutraceuticals is recommended. Moderate to severe pain can be treated with NSAIDs and coxoids.
Livestock is expected to be the fastest-growing segment in 2022.
The animal type segment includes companions and livestock. The livestock segment is expected to witness the highest growth rate during the forecast period. Since chronic diseases are on the rise, animal healthcare groups are becoming more aware of them, and emerging nations are spending a lot on animal healthcare, livestock animals are experiencing visual signs of discomfort, such as lameness, accelerated breathing, vocalization, and teeth grinding. All these issues are boosting the growth of the veterinary pain management market.
Regional Analysis
The regional analysis provides a detailed perception of the key regions and the countries. Some of the key countries analyzed for the veterinary pain management market include the US, Canada, Mexico, Germany, France, the U.K., Italy, Spain, Russia, China, Japan, India, Brazil, Peru, UAE, South Africa, and Saudi Arabia.
The North American region witnessed a major share. Due to the growing number of pet owners and the demand for effective animal care, the North American market is witnessing significant growth. Furthermore, the development is being further fueled by highly advanced and established animal healthcare facilities. The rising veterinary healthcare investment will add more value to the market growth in the future,
Country Analysis
- Germany
Germany's Veterinary Pain Management Market size was valued at USD 0.16 billion in 2022 and is expected to reach USD 0.24 billion by 2030, at a CAGR of 5.2% from 2023 to 2030.
There is an increase in corporate alliances, mergers, and acquisitions driving the market's expansion in Germany, as well as businesses, are introducing new products in order to deal with rising concerns for animal healthcare, which also fuels the market growth.
- China
China veterinary pain management’s market size was valued at USD 0.24 billion in 2022 and is expected to reach USD 0.38 billion by 2030, at a CAGR of 6.2% from 2023 to 2030.
Partnerships between the public and private sectors and strategic collaborations towards the adoption and implementation of new and improved technology are opening up attractive market prospects which will boost the growth of the veterinary pain management market in the country.
- India
India's Veterinary Pain Management Market size was valued at USD 0.2 billion in 2022 and is expected to reach USD 0.31 billion by 2030, at a CAGR of 5.8% from 2023 to 2030.
Continuous research and development to improve the efficiency of medications used for veterinary pain management and rising awareness about the health of livestock animals in the country are boosting the growth of the market.
Covid-19 Impact
Covid-19 had a major impact on almost all industries, such as electronics, semiconductors, manufacturing, automobile, etc. However, several companies operating in the technology sector have seen increased revenue due to significant changes in consumer preferences toward technological services. In addition, the pandemic has led to significant growth in technology across developing and developed countries.
Furthermore, the growth of this market is mainly driven owing to the increasing demand from the livestock segment, propelling the growth of the market across the countries.
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