Increasing the number of veterinary surgeries is expected to drive the growth of global veterinary pain management in the forecast period, 2024-2028.
According to TechSci Research report, “Veterinary Pain Management Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028”, the global dental contouring market is anticipated to grow at an impressive rate in the forecast period, 2024-2028. This can be ascribed to the increasing awareness regarding better pet care and the trend to pet adoption across the globe. Additionally, increasing investments in technological advancements and innovation, especially in the developed countries in North America and Europe is expected to create lucrative opportunities for market growth in coming years. Besides, the increasing incidence of pet obesity is further expected to support market growth. Similarly, the growing number of veterinary practitioners and their income levels in the developing region along with the growing consumption of meat and milk will further boost the market growth during the forecast period. Also, the growing incidence of animal diseases and inflammation is also expected to create significant growth during the forecasted years. Additionally, the growing adoption of pet insurance with growing animal healthcare expenditure is anticipated to drive the growth of this market over the years.
However, the high cost of pet care management across the globe thereby slowing down the growth of the global veterinary pain management market in the forecast period. Similarly, advanced technology used in pain management devices creates a high cost which may hamper the veterinary pain management market growth during the forecast period. Also, poor reimbursement scenarios and technology penetration in developing economies can further restrict the growth of the global veterinary pain management market.
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The global veterinary pain management market can be segmented by product, by application, by animal type and by region. Based on application, the global veterinary pain management market can be segmented into Joint Pain, Cancer Pain, Postoperative Pain, and Others. The postoperative pain segment dominated the market in 2022 and is expected to continue maintaining its dominance throughout the forecast period. This can be ascribed to the increasing number of veterinary surgeries due to chronic illness in developing countries.
Based on animal type, the market can be divided into Companion Animals v/s Livestock Animal. The cat segment of companion animals is expected to dominate during the forecast period on account of the increasing cat ownership in developing countries and rising pet healthcare expenditure in both urban and developing regions. Similarly, the growing incidence of chronic diseases along with growing awareness amongst animal healthcare organizations will further boost the market growth during the forecasted period.
Major companies operating in the global veterinary pain management market are:
- Boehringer Ingelheim International GmbH
- Zoetis Inc.
- Elanco Animal Health Incorporated
- Norbrook Laboratories Limited
- SeQuent Scientific Limited
- Merck & Co., Inc.
- Dechra Pharmaceuticals Plc
- Vetoquinol S.A.
- Ceva Santé Animale SA
- Chanelle Pharma Group Ltd.
For instance, in October 2020, FECAVA announced the launch of the campaign, FECAVA Basic Practices in Anesthesia and Analgesia, which will include important lectures around Europe in the upcoming years and a series of six ready-to-use, printable posters or infographics regarding anesthesia and pain management in animals.
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“North America is expected to dominate in the global veterinary pain management market on account due to the increasing pet care ownership and demand for effective animal care across the region. Furthermore, the increasing trend of pet adoption and the emerging regional economy, and the increasing prevalence of animal diseases such as deficiency diseases, hereditary diseases, and physiological diseases led to a rising number of surgeries further contributing to the demand for veterinary pain management. Also, growing expenditure for research and development proficiencies in the developing regions pertaining to medical instruments and devices will further propel the growth of the market during the forecasted periods. Besides, the availability of skilled professionals to handle all pets and increasing collective efforts by key players to improve their product portfolio to ensure high-quality standards are further expected to create lucrative opportunities for market growth” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“Veterinary Pain Management Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028 Segmented By Product (Medications v/s Medical Devices), By Application (Joint Pain, Cancer Pain, Postoperative Pain, Others), By Animal Type (Companion Animal v/s Livestock Animal), By Region and Competition”, has evaluated the future growth potential of global veterinary pain management market and provides statistics & information on market size, structure, and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in global veterinary pain management market.
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