Pet Diabetes Care Market Demand, Opportunities, Key Players Strategies Forecast 2022-28

According to Precision Business Insights (PBI), the latest report, the pet diabetes care market is expected to be worth USD 2,125.7 million in 2022, growing at a 7.0% CAGR from 2022 to 2028.The primary driver of the expansion of the global pet diabetes care market includes the increasing number of animals developing diabetes and having inappropriate biological reactions, rising demand for diabetic care devices as lifestyle-related illnesses become more prevalent and growing costs for pet healthcare.

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Glucose Monitoring Devices Segment to Dominate the Pet Diabetes Care Market:
Glucose monitoring devices segment is expected to account for a larger revenue share in the global pet diabetes care market, with a value share worldwide due to firms releasing equipment for pet diabetes care and an increase in the diagnostic rate for diabetic pets. The major players have introduced specific pet glucose monitoring devices as human glucometers don't provide accurate readings for animal blood sugar levels.

Asia Pacific Pet Diabetes Care Market:
The Asia Pacific market is expected to increase in the global pet diabetes care market over the forecast period. It is projected to grow at a CAGR of 7.5% in the coming years. This can be due to an increase in private and public sector companies' investments in research and development as well as to better administration of animal health care. Spending on pet healthcare is rising in a number of nations, including Japan and Australia, which will greatly boost the prognosis for the regional industry. Growing pet adoption, increasing pet owner discretionary income to provide their pets with an organic lifestyle, and rising pet healthcare concerns will all contribute significantly to the market's growth throughout the projection period. North America held a considerable market share during estimated period. US is the major contributor for the growth of the market in the region.

Strategic New Product Launches, Mergers, Acquisitions, and Agreements are the key strategies adopted by market players:
The global pet diabetes care market further reveals that the key players are increasingly adopting strategies such as the launch of newer products, product launches, and long-term alliances to improve market revenue share and gain significant geographic presence across the region. For instance, In 2020, in order to treat canine diabetic mellitus, the FDA approved Pro Zinc (protamine zinc recombinant human insulin). Boehringer Ingelheim Animal Health USA Inc. created Pro Zinc.

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Detailed Segmentation
The pet diabetes care market is segmented based on device type, animal type, end-user, and geography.
Based on the device type, the market is segmented into the following:
• Glucose monitoring devices
• Insulin delivery devices

Based on the animal type, the market is segmented into the following:
• Cats
• Dogs
• Horses

Based on the end user, the market is segmented into the following:
• Veterinary clinics
• Home care settings
• Veterinary hospitals

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Key players' profiles in the pet diabetes care market report are Allison Medical, potex, Inc., Becton, Dickinson and Company, Boehringer Ingelheim Vetmedica, Inc., Henry Schein Animal Health, MED TRUST, Merck & Co. Inc., UltiMed, Inc. and Zoetis, Inc.

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