The canine arthritis treatment from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Canine Arthritis Treatment Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The canine arthritis treatment market size has grown strongly in recent years. It will grow from $2.33 billion in 2023 to $2.35 billion in 2024 at a compound annual growth rate (CAGR) of 5.3%. The growth in the historic period can be attributed to the aging pet population, growing awareness among pet owners, focus on preventive care, increasing disposable income, and increasing veterinary care expenditure.
The canine arthritis treatment market size is expected to see strong growth in the next few years. It will grow to $2.90 billion in 2028 at a compound annual growth rate (CAGR) of 5.5%. The growth in the forecast period can be attributed to a rise in pet insurance coverage, growing cases of arthritis, rising pet ownership rates, growing demand for minimally invasive surgical procedures, and increasing prevalence of arthritis in dogs. Major trends in the forecast period include innovative treatments, advancements in veterinary medicine, demand for advanced therapies, integration of technology, and innovative technologies.
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Scope Of Canine Arthritis Treatment Market
The Business Research Company’s reports encompass a wide range of information, including:
- Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
- Drivers: Examination of the key factors propelling market growth.
- Trends: Identification of emerging trends and patterns shaping the market landscape.
- Key Segments: Breakdown of the market into its primary segments and their respective performance.
- Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
- Macro Economic Factors: Assessment of broader economic elements impacting the market.
Canine Arthritis Treatment Market Overview
Market Drivers –
The rising pet ownership rate is expected to propel the growth of the canine arthritis treatment market going forward. Pet ownership refers to the responsibility and care taken by individuals or households in providing for the needs, well-being, and companionship of domesticated animals kept primarily for pleasure rather than utility. The rising pet ownership rates are due to factors such as lifestyle changes, the humanization of pets, and higher disposable incomes. Pet owners use canine arthritis treatments to manage and alleviate the symptoms of arthritis in their dogs, aiming to improve their pets’ quality of life and maintain mobility. For instance, in October 2023, according to the American Pet Products Association, a US-based non-profit association, there were 86.9 million US households that owned a pet, which is 66% of households in 2022. Therefore, the rising pet ownership rate is driving the growth of the canine arthritis treatment market.
Market Trends –
Major companies operating in the canine arthritis treatment market are developing innovative treatments, such as bedinvetmab injections, to address canine joint health and mobility. Bedinvetmab is a monoclonal antibody injection that works by targeting and neutralizing nerve growth factor (NGF), a protein involved in pain used in veterinary medicine. For instance, in May 2023, Zoetis Inc., a US-based animal health company, received approval from the Food and Drug Administration (FDA) for Librela, a bedinvetmab injection. It is the first monoclonal antibody (mAb) approved by the FDA for use in dogs and works by binding to and inhibiting the biological activity of canine nerve growth factor (NGF), which is involved in the regulation of pain associated with OA. It is administered by subcutaneous injection once a month, making it a convenient and long-term solution for canine OA pain management.
The canine arthritis treatment market covered in this report is segmented –
1) By Treatment Type: Drugs, Supplements, Surgical Procedures, Other Treatment Types
2) By Route Of Administration: Oral, Parenteral, Other Routes Of Administrations
3) By Arthritis Type: Osteoarthritis, Rheumatoid Arthritis, Osteochondrosis, Traumatic Arthritis
4) By Distribution Channels: Veterinary Clinics And Hospitals, Retail Pharmacies, Online Pharmacies
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Regional Insights –
North America was the largest region in the canine arthritis treatment market in 2023. Asia-Pacifica is expected to be the fastest-growing region in the forecast period. The regions covered in the canine arthritis treatment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies –
Major companies operating in the canine arthritis treatment market are Merck & Co. Inc., Bayer AG, Eli Lilly and Company, Zoetis Inc., Boehringer Ingelheim Animal Health, Elanco Animal Health Incorporated, Royal Canin SAS, Virbac Group, Ceva Sante Animale S.A., Hill’s Pet Nutrition Inc., Vetoquinol SA, Norbrook Laboratories Limited, American Regent Inc., Thorne Healthtech Inc., VetStem Inc., Eltech K-Laser s.r.l., Liquid Health Inc, Nutri-Vet LLC , OrthoPets LLC, Rejuvenate Bio Inc.
Table of Contents
1. Executive Summary
2. Canine Arthritis Treatment Market Characteristics
3. Canine Arthritis Treatment Market Trends And Strategies
4. Canine Arthritis Treatment Market – Macro Economic Scenario
5. Global Canine Arthritis Treatment Market Size and Growth
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32. Global Canine Arthritis Treatment Market Competitive Benchmarking
33. Global Canine Arthritis Treatment Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Canine Arthritis Treatment Market
35. Canine Arthritis Treatment Market Future Outlook and Potential Analysis
36. Appendix
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