USD 4.3 billion
Report ID:
SQMIG35I2099 |
Region:
Global |
Published Date: September, 2024
Pages:
272
|Tables:
156
|Figures:
78
Veterinary Pain Management Market size was valued at USD 1.92 Billion in 2023 and is poised to grow from USD 2.05 Billion in 2024 to USD 3.45 Billion by 2032, growing at a CAGR of 6.7% during the forecast period (2025-2032).
Recent studies to reduce chronic pain in animals have made it possible to treat pain in animals in a number of ways such as using drugs, physical rehabilitation, acupuncture, laser treatment and therapeutic massage among others. As more individuals have taken to keeping pets, thereby increasing the appetite for drugs, preventive care and veterinary services, the veterinary pain management segment has been on a pronounced upward trend over the years across the globe. Moreover, the rising acceptance of pet insurance across the regions, and the need to take care of animal health and welfare in developing countries are also contributing towards the growth of the market. The increased prevalence of painful and inflammatory diseases in animals is also contributing to the growth of the market.
However, a lack of knowledge about severe medical conditions in companion animals limits the market's expansion. Conversely, the growing acceptance of unconventional and nonpharmaceutical treatment methods as well as unexplored new markets are expected to offer the market a chance for expansion. Growing usage of companion animals, the growth in the numbers of veterinarians and their income levels in developed countries, rising consumption of beef and dairy, and increasing incidences of pain and inflammatory diseases in animals are among some of the causative trends. Nevertheless, there is the possibility that the increasing pet care costs may constrain the growth of the market to some extent.
US Veterinary Pain Management Market is poised to grow at a sustainable CAGR for the next forecast year.
Global Market Size
USD 4.3 billion
Largest Segment
Drugs
Fastest Growth
Companion animals
Growth Rate
4.5% CAGR
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Global Veterinary Pain Management Market is segmented on the basis of product, animal type, application, end user, and region. By product, market is segmented into drugs, and devices. By animal type, market is segmented into companion animals, and livestock animals. By application, market is segmented into joint pain, post-operative pain, cancer, and other applications. By end user, market is segmented into veterinary hospitals, veterinary clinics, and pharmacies & drug stores. By region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Veterinary Pain Management Market Analysis by Device Type
As per categorization by device type, the market is classified as laser therapy device, and electromagnetic device. Among these, the laser therapy device earned the largest share and continues to dominate the veterinary pain management industry. The outstanding development of new and interesting veterinary pain management services and products can be attributed to the introduction of laser therapy devices. They provide a non-invasive and drug-free way of alleviating pain in animals. Such devices are preferred as they enhance the speed of repair of tissue, cause less swelling and shorten the period of healing, thus are favored by doctors. The increasing application of laser therapy devices in the treatment of chronic disorders such as arthritis and in recovery after surgeries has greatly contributed to the evolution of laser therapy devices enabling the safe and effective control of pain through a different approach.
Electromagnetic devices are poised to be the fastest-growing segment in the global veterinary pain management market due to their ability to provide non-invasive, drug-free pain relief through pulsed electromagnetic field (PEMF) therapy. This technology promotes tissue regeneration and increases blood flow, thus making it quite useful in the management of injury to the musculoskeletal system, arthritis, and even post-surgical intervention. The growing need for therapies that can minimize use of pharmaceutical drugs, along with an increase in knowledge of pet owners regarding suitable pain management therapies, is augmenting the growth in the use of electromagnetic devices. Additionally, this explains their brisk ascent in the market as they can be used to manage both acute and chronic conditions.
Veterinary Pain Management Market Analysis by Animal Type
Companion animals, such as dogs and cats, dominate the global veterinary pain management market share due to increasing pet ownership and the growing emotional bond between owners and their pets. New methods of dealing with pain, for instance laser treatment, medicines and other unconventional methods, are implemented quickly to promote wellbeing of such animals. The growing prevalence of many chronic disorders such as arthritis, obesity and post-operative discomforts in pets has encouraged the need for better and advanced pain relief measures. Moreover, the increased investment in veterinary care for pets, as well as the growing concern to animal welfare, makes pets the most lucrative and leading segment of the veterinary pain management market.
Livestock animals are emerging as the fastest-growing segment in the global veterinary pain management market due to rising awareness about the economic benefits of ensuring animal welfare. Modification of behaviour in livestock practices such as rearing of cattle and pigs constitutes productive improvement as it not only speeds up the healing of wounds but also lessens anxiety and improves their general wellbeing. Innovations in pain relief, including injectable analgesics and anti-inflammatory drugs, are increasingly used to maintain herd health, especially as animal welfare standards become stricter worldwide. As sustainable farming practices and livestock performance become top priorities, demand for advanced pain management solutions for livestock is rapidly increasing.
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North America dominates the global veterinary pain management market due to its advanced veterinary healthcare infrastructure, high pet ownership rates, and increased awareness of animal welfare. The acute need for pet care services and high expenditure on veterinary services in the region encourages the embrace of advanced techniques for pain alleviation including laser therapy, drugs and alternative treatment modalities. In addition to this, tight animal care policies and the need to enhance livestock productivity and health also elevate the market. Due to the presence of the key active industry participants and endless re-inventing of veterinary drugs and devices, North America remains the number one region for veterinary pain management solutions.
Europe is the fastest-growing region in the veterinary pain management industry due to increasing pet ownership, rising awareness of animal health, and stringent animal welfare regulations. The increasing concern over the sustainable management of livestock and the welfare of animals in the region necessitates the search for better solutions for pain management. Furthermore, the escalating concern of pet parents on the need to address pain in crippling conditions and after surgeries also supports the expansion of the market. National policies aimed at raising the standards of veterinary care, coupled with the increase in veterinary clinics and disposable income, are further enhancing the uptake of new pain management strategies in Europe.
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Veterinary Pain Management Market Drivers
Rising Pet Ownership and Humanization of Pets
Advancements in Veterinary Healthcare
Restraints
Lack of Standardized Treatment Protocols
Limited Availability of Skilled Veterinary Professionals
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The global veterinary pain management market is characterized by the presence of high-profile international players with innovative products and therapies. The prominent players in the market include Zoetis Inc., Elanco Animal Health, Boehringer Ingelheim, Vetoquinol SA and Bayer AG. These firms concentrate on developing advanced medicines, laser therapies, and non-functional implement pains consolation apparatus. Joint ventures, funding of research, and commercialization of new products are some of the strategies employed by market participants to stay ahead of competition in the expanding veterinary pain management market growth.
Top Players in the Veterinary Pain Management Market
Veterinary Pain Management Market Recent Developments
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
As per SkyQuest analysis, in conclusion, the veterinary pain management industry is experiencing significant growth driven by increased pet ownership, advancements in veterinary healthcare, and a focus on animal welfare. While challenges such as a lack of standardized treatment protocols and a shortage of skilled professionals exist, the market is witnessing innovative solutions like laser and electromagnetic therapies.
With this growing need of pet owners, who value and prioritize the comfort and wellbeing of their pets, companies are constantly coming up with new treatment methods. The prospects of the veterinary pain management market forecast, in this case, appear to be very bright with the chances of growth in both the pet and the cattle markets, due to changes in the perception of consumers and technology.
Report Metric | Details |
---|---|
Market size value in 2022 | USD 1.80 billion |
Market size value in 2031 | USD 3.23 billion |
Growth Rate | 6.7% |
Base year | 2023 |
Forecast period | 2024-2031 |
Forecast Unit (Value) | USD Billion |
Segments covered |
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Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
Companies covered |
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Executive Summary
Market overview
Parent Market Analysis
Market overview
Market size
KEY MARKET INSIGHTS
COVID IMPACT
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
For the Veterinary Pain Management Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Veterinary Pain Management Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Veterinary Pain Management Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Veterinary Pain Management Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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Report ID: SQMIG35I2099
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