Press release
GROWTH IN PREVALENCE OF PAINFUL AND INFLAMMATORY DISEASES IN ANIMALS COUPLED WITH GROWING PET OWNERSHIP ARE ANTICIPATED TO PROPEL THE GLOBAL VETERINARY PAIN MANAGEMENT MARKET AT A CAGR OF 7.64% FROM 2020 TO 2025 – AXIOM MRC
Axiom Market Research & Consulting
New York, July 8, 2019: Axiom Market Research & Consulting™ added a report on global veterinary pain management market which includes study on various products, animal type, application and end user across various countries of key regions across the globe. The global veterinary pain management market was projected to grow at a CAGR of 7.64% for the forecast period 2019 to 2025. The global market is estimated and forecasted in terms of revenue (USD Million) generated by the veterinary pain management market.
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The global veterinary pain management market is segmented based on products, animal type, application, end user and geography. Various products used in veterinary pain management market are drugs (alpha-2 agonists, disease-modifying osteoarthritis agents, local anesthetics, NSAIDs, opioids and other drugs) and devices (electromagnetic therapy devices and laser therapy devices). In veterinary pain management market wide range of animals treated includes companion animals (dogs, cats, horses and other companion animals) and livestock animals (cattle, swine and other livestock). Major application of veterinary pain management drugs are in joint pain (musculoskeletal disorders and osteoarthritis), cancer, postoperative pain and others. Additionally, various end users of this market are laboratories, research institutes and universities and veterinary hospitals and clinics.
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The global veterinary pain management market supports a fast booming industry catering to the needs of numerous companion and farm animal species. In recent years, the leading animal pharma companies are progressively highlighting development of healthcare products for companion animals, particularly for dogs and cats. Furthermore, rapidly increasing pet adoption, need of control spreading of zoonotic diseases, promising government initiatives to promote animal healthcare practices, constantly mounting demand for animal source protein and developments in animal drugs growth are some of the driving forces responsible for global veterinary pain management market growth.
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Other highlights from Axiom Market Research & Consulting™ report include:
• The drugs segment accounted for the largest market size in 2018
• The global veterinary pain management market is commanded by the livestock animal portion which holds remarkable market share of the overall industry in 2018
• Joint pain segment accounted for the largest market share in terms of revenue in 2018, owing to the growing pet population, rising prevalence of osteoarthritis and musculoskeletal disorders, and increasing population of obese and overweight pets
• Veterinary hospitals and clinics led the end users segment in 2018, due to the availability of a wide range of treatment as well as diagnostic options in these facilities
• Graphically, North America accounted for of the largest revenue share in 2018, due to the rising number of pet ownership and demand for effective animal care
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