Westford, USA, March 21, 2023 (GLOBE NEWSWIRE) -- The veterinary pain management market is set to experience significant growth, particularly in Europe and North America, due to increased pet adoption and heightened awareness of the importance of proper pet care. In addition, these regions are expected to lead the way in technological advancements and innovation, which will create new opportunities for key players in the industry. Moreover, there has been a surge in preventive care and treatment facilities for companion animals, along with a growing acceptance of non-traditional and non-pharmaceutical treatment modalities. These factors, combined with a rise in per capita healthcare spending, all contribute to an anticipated expansion of the market's growth rate.
According to SkyQuest's recent global research, the animal health market is projected to reach US$ 45.42 billion by 2028, with a CAGR of 3.75%. As pet owners become more aware of the importance of managing their pets' pain, the veterinary pain management market is set to benefit from increased demand for new and innovative solutions.
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- Pages - 272
- Tables - 76
- Figures - 81
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Veterinary pain management is an essential aspect of providing optimal care for animals. Pain can be caused by various conditions such as surgery, trauma, cancer, arthritis, dental disease, etc. The choice of pain management technique depends on the type and severity of pain, the animal's overall health, and the potential side effects of the treatment.
Prominent Players in Veterinary Pain Management Market
- Sumitomo Chemical
- ADM
- Novusint
- Zoetis
- Norbrook
- Assisi Animal Health
- Virbac
- Evonik Industries
- Elanco
- Ceva
- Bayer AG
- Dechara Pharmaceuticals
- Vetoquinol
- Merck Sharp & Dohme Corp
- IDEXX Laboratories
- DuPont
- BASF SE
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Livestock Animal Segment to Exhibit Substantial Growth Thanks to Large Demand for Pain Management Products and Strict Regulatory Environment
The veterinary pain management market has seen significant growth in recent years, with the livestock animal segment playing a crucial role in driving this trend. In 2021, this segment contributed more to the overall market share, and it is expected to continue its dominance from 2022 to 2028. The livestock animal segment holds a significant market share due to the large population of animals and the high demand for animal-based protein products. The segment includes pain management solutions for various livestock animals, including cattle, swine, poultry, and others.
According to a recent analysis, North America and Europe's veterinary pain management market has displayed impressive growth throughout 2021. SkyQuest projects that this trend will continue, with these regions projected to dominate the market by 2028. Pet owners are becoming more educated about the signs of pain in their furry friends. As a result, they seek veterinary care that prioritizes pain relief as a critical component of treatment. In response to this demand, veterinarians are developing more advanced pain management strategies, utilizing various methods to keep pets comfortable and pain-free. This includes everything from medications and acupuncture to specialized diets and physical therapy.
Veterinary Hospital Segment to Drive High Traction as Such Hospitals Have Access to Wide Range of Pain Management Products and Techniques
The veterinary pain management market has witnessed a surge in demand in recent years, and the veterinary hospital segment has been at the forefront of this trend. In 2021, this segment garnered higher traction than other distribution channels, and this trend is expected to continue during 2022-2028. With the rising awareness of animal welfare and the importance of pain management for animal health, more pet owners are seeking out veterinary hospitals that offer these services. Veterinary hospitals are well-equipped to provide comprehensive pain management services to animals.
The Asia Pacific region witnessed a significant surge in the veterinary pain management market in 2021 and is projected to continue rapidly until 2028. This growth is driven by a growing focus on animal welfare and an increasing awareness among pet owners regarding the importance of pain management for their furry companions. Furthermore, technological advancements in pain management, such as developing novel pain medications and innovative treatment methods, are also expected to drive market growth.
SkyQuest, a leading research firm, has recently unveiled a comprehensive research report on the veterinary pain management market. This report offers valuable insights and an in-depth analysis of the industry and its competitive landscape. The report also provides an in-depth outlook on the market's competitive landscape, highlighting the key players operating in this space. In addition, it includes detailed profiles of these players, along with their market share, product portfolio, and business strategies.
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Key Developments in Veterinary Pain Management Market
- NeuroOne®, a medical technology company specializing in the development of implantable electrodes and leads for neurostimulation, has announced the successful completion of the initial animal implant of its latest innovation, the Thin Film Paddle Lead for Spinal Cord Stimulation. The Thin Film Paddle Lead is a cutting-edge medical device designed to offer improved therapeutic benefits to patients suffering from chronic pain.
- Zoetis, a global leader in animal health, has recently introduced the US launch of Solensia, a new medication for managing pain associated with feline osteoarthritis (OA). The medication has been extensively tested and proven safe and effective in reducing pain and improving mobility in cats with OA.
- Small Door Veterinary, a leading provider of high-quality and affordable veterinary care, is expanding its reach to Boston with a new location in Newton Centre. With the new location in Newton Centre, Small Door Veterinary is poised to bring its unique brand of veterinary care to even more pet owners in the Boston area. The clinic features state-of-the-art equipment, facilities, and a team of trained and experienced veterinarians and support staff.
Key Questions Answered in Veterinary Pain Management Market Report
- What specific factors are expected to contribute to the overall progress of the market in the near future?
- How has the current market situation influenced the overall growth of the global market, and what trends are driving this growth?
- Which geographical regions are likely to experience the most significant growth in the global market, and what factors drive this growth?
- To what extent are key market players influencing the industry's future outlook and overall growth, and what strategies have they used?
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