Selbyville, Delaware, Aug. 14, 2023 (GLOBE NEWSWIRE) -- Veterinary Pain Management Market size is projected to record USD 3.2 billion by 2032. The rising trend of pet ownership and the heightened awareness of animal healthcare leading to more pet owners seeking medical attention and specialized treatments will drive the industry expansion. The higher footfall witnessed in veterinary clinics and hospitals has led to the surging demand for pain management solutions for animals.
Request for a sample of this research report @ https://www.gminsights.com/request-sample/detail/5882
Additionally, several veterinarians are adopting advanced pain management techniques, medications, and therapies to address the rising needs of patients effectively, further augmenting the market outlook. To cite an instance, in July 2022, Rex, a Berlin-based pet tech firm, raised €5 million to create future-oriented veterinary practices by bringing the digital world to veterinary care by emphasizing customer experience, digitized processes, and first-rate treatment.
Veterinary pain management devices to gain significant traction
Veterinary pain management market size from the device product segment, comprising laser and electromagnetic, is anticipated to depict lucrative expansion from 2023 to 2032. Rising advancements in technology have led to the higher development of innovative pain management devices specifically designed for animals to cater to a wide range of conditions and species. The increasing adoption of these devices by veterinary clinics and hospitals is also complementing the traditional pain management methods. Moreover, pet owners are also becoming more receptive to non-invasive and drug-free pain management options for their beloved companions.
Increasing application for cancer treatment in animals
Veterinary pain management market from the cancer application segment is set to record steady progression between 2023 and 2032. The increasing incidence of cancer in animals has amplified the need for effective pain management solutions to enhance their comfort and overall quality of life. According to the Veterinary Cancer Society, 1 in every 4 dogs is diagnosed with cancer throughout its lifespan. Furthermore, veterinarians are adopting multimodal approaches to treat cancer-related pain, including medications, radiation therapy, and palliative care.
Veterinary clinics to record substantial growth
The veterinary pain management market from the clinics segment is poised to grow significantly at notable CAGR from 2023-2032. The rising rate of ownership has spurred the growing need for specialized veterinary clinics to provide pain treatment services. The surging developments in pain treatment technology has led to the higher availability of experienced veterinarian. Furthermore, the rising focus of veterinary hospitals on expanding into the urgent care space will boost the segment expansion. For instance, in September 2022, VCA Animal Hospitals Urgent Care announced its plans to build and open 17 locations across seven markets in 2023.
Europe to emerge as a lucrative market destination
Europe veterinary pain management market held sizable revenue share in 2022 and is estimated to grow substantially through 2032. The rising pet ownership culture in the region is driving the need for effective pain management solutions for animals undergoing surgeries, experiencing chronic pain, or suffering from age-related conditions. Additionally, there has been a surge in the number of veterinary clinics and hospitals offering specialized pain management services. Moreover, the rising preference for veterinary telehealth services will provide lucrative gains opportunities to the market participants. For instance, in August 2022, Vetster, a virtual care platform, raised $40 million for launching its services in the U.K.
Request for Report Customization @ https://www.gminsights.com/roc/5882
Veterinary Pain Management Industry Participants
The competitive landscape of the veterinary pain management market includes prominent companies such as, Ceva Santé Animale, Alivira Animal Health Limited, Zoetis Inc., Merck & Co., Inc., Boehringer Ingelheim International GmbH, Norbrook, Dechra Pharmaceuticals, Vetoquinol Inc., Chanelle Pharma, Elanco Animal Health Incorporated, K-Laser USA, and Multi Radiance Medical.
Veterinary Pain Management Market News
- In May 2023, Zoetis Inc. announced that the U.S. FDA granted approval for LibrelaTM (bedinvetmab injectable) for the treatment of pain associated with osteoarthritis in dogs. Librela is the first and only once-monthly anti-NGF monoclonal antibody medication licensed for canine OA pain.
Partial Table of Contents (ToC) of the report:
Chapter 3 Veterinary Pain Management Market Insights
3.1 Industry ecosystem analysis
3.2 Industry impact forces
3.2.1 Growth drivers
3.2.1.1 Rising number of pet owners
3.2.1.2 Increasing prevalence of animal diseases
3.2.1.3 Increasing adoption of pet insurance
3.2.1.4 Increasing animal medicalization rate
3.2.1.5 Rising adoption of laser therapy in pain management
3.2.2 Industry pitfalls & challenges
3.2.2.1 High pet care costs
3.2.2.2 Shortage of skilled professionals
3.3 Growth potential analysis
3.3.1 By product
3.3.2 By application
3.3.3 By animal type
3.3.4 By end-user
3.4 COVID- 19 impact analysis
3.5 Regulatory landscape
3.5.1 U.S.
3.5.2 Europe
3.6 Porter's analysis
3.7 PESTEL analysis
Chapter 4 Competitive Landscape, 2022
4.1 Introduction
4.2 Company matrix analysis, 2022
4.3 Market share analysis , 2022
4.4 Competitive positioning matrix
4.5 Strategy dashboard
Browse Our Reports Store - GMIPulse @ https://www.gminsights.com/gmipulse
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.
