Selbyville, Delaware, Feb. 01, 2023 (GLOBE NEWSWIRE) --
Pet diabetes care devices market value is estimated to witness USD 4.5 billion by 2032, according to a new research report by Global Market Insights Inc.
Rising pet adoption, coupled with increasing pet care expenditures, as the chief drivers of the pet diabetes care devices industry trends. Moreover, the snowballing number of obese pets and animals is driving the outlook for diabetes care devices. As overweight pets are susceptible to various diseases, such as diabetes and liver disease, it becomes necessary to adopt such devices. According to VCA Animal Hospitals, approximately 40–45% of dogs between the ages of 5 and 11 are overweight, and around 25–30% of the overall canine population suffers from obesity.
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Growing trend of pet parenting to increase glucose monitoring devices adoption
Heavy demand for glucose monitoring devices, especially across the North America region. Many pet animals are treated at veterinary hospitals, clinics, and home care settings, which has eventually raised product scenario. Additionally, the growing trend of pet adoption in both developed and developing countries is anticipated to be advantageous for segment value.
Positive efforts by market players to elevate product usage in horses
The horses segment in pet diabetes care devices market is poised to cross over USD 184 million in revenue by the end of 2032. Major players such as TaiDoc and Merck, among others, are introducing novel solutions, including glucose-monitoring pet diabetes care devices and insulin delivery pens. These positive efforts comprising of technological advancements, increasing awareness in the market, and prevalent concerns about pet health are estimated to fuel segment development in the forthcoming period.
Browse key industry insights spread across 140 pages with 233 market data tables & 15 figures & charts from the report, “Pet Diabetes Care Devices Market Size, By Device (Glucose Monitoring Devices, Insulin Delivery Devices {Insulin Delivery Pen, Insulin Syringes}), By Animal (Cats, Dogs, Horses), By End-use (Veterinary Clinics, Home Care Settings, Veterinary Hospitals), Industry Analysis Report, Regional Outlook, Application Potential, Competitive Market Share & Forecast, 2023 – 2032” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/pet-diabetes-care-devices-market
Ease of use of new diabetes care devices to augment product demand in home care settings
The deployment of pet diabetes care devices in home care settings is set to remain high over the coming years. The introduction of devices such as veterinary glucometers and insulin delivery pens that do not need special training to operate is speculated to boost the segment's expansion. These tools let pet owners monitor animals’ sugar levels efficiently and precisely, which is set to favor product adoption in these settings.
Consistent R&D initiatives to aid Latin America industry growth
Pet diabetes care devices market in Latin America is projected to depict progress at over 8% CAGR from 2023 to 2032. The region may emerge as a major hub for this industry owing to rising technology developments, R&D efforts in medicine delivery devices, and swelling rates of pet obesity. Additionally, tools like insulin pens and glucose monitors simplify and reduce pain for measuring and providing insulin doses. Such factors are spurring product demand in the LATAM region, thereby pushing market gains.
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Product range expansion to remain a major progression tactic
The competitive landscape of the pet diabetes care devices market is primed to observe several revenue acquisitions & mergers, along with rigorous R&D initiatives, by industry players to remain ahead in the strategic forefront. Some of the key participants profiled in the report include Boehringer Ingelheim Vetmedica Inc., Henry Schein Animal Health, FitBark, Merck Animal Health, Allison Medical, and TaiDoc, among others.
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About Global Market Insights
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
