Companion Animal Arthritis Market Size, Outlook, Prominent Players, Share, Revenue, and Forecast 2031

Global Companion Animal Arthritis Market is valued approximately USD 2.9 billion in 2021 and is anticipated to grow with a healthy growth rate of more than 6.8 % over the forecast period 2022-2028. Osteoarthritis (OA) is a prevalent disease in dogs and cats. It is classified as a low-grade inflammatory, degenerative joint condition. Some of the important reasons driving the market include the expanding companion animal population, the rising incidence of arthritis, rising risk factors for the illness, supporting awareness campaigns undertaken by governments, and tactics implemented by prominent firms.

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For example, the American Veterinary Medical Association announced in November 2021 that the companion animal population had expanded considerably between 2016 and 2020. According to the report, the dog population in the United States was expected to be 76.8 million in 2016, with a projected growth to 83.7 million by 2020. Cat population climbed from 58.4 million in 2016 to 60 million in 2020.

Major market players included in this report are:

Zoetis

Virbac

Elanco

Boehringer Ingelheim International GmbH

Ceva

Dechra Pharmaceuticals PLC.

Vetoquinol

NexGen Pharmaceuticals

Norbrook

Eltech K-Laser s.r.l.

This is predicted to help the industry flourish. The rising acceptance of pet insurance, higher animal healthcare spending, R&D investments by leading firms, post-pandemic return to normalcy, and the expansion of drug products are some of the key drivers driving market development. According to the Insurance Information Institute, Inc., pet care spending will increase from USD 53.3 in 2012 to USD 123.6 in 2021. In a year, almost USD 1,480 is spent per dog and USD 943 is spent every cat. Similarly, according to FEDIAF, roughly 21.8 billion euros will be spent in Europe in 2020 on pet food and 21.2 billion euros on other pet-related services and goods. These positive characteristics are assisting the market's expansion. However, lack of awareness impedes market expansion throughout the projection period of 2022-2028.

The key regions considered for the Global Companion Animal Arthritis Market study includes Asia Pacific, North America, Europe, Latin America, and Rest of the World. North America emerged as the market leader. This is attributable to major players' considerable presence, the implementation of numerous initiatives begun by key corporations to improve market penetration, rising treatment availability, rising diagnostic rates, and expanding pet population and spending.

Another factor projected to drive market expansion is the increasing number of veterinary clinics in the nations having licensed and qualified veterinarians. The Asia Pacific area is expected to grow at the fastest CAGR over the projection period. This is due to rising animal healthcare expenditure and disposable income in important markets, as well as increased illness awareness in emerging nations. Growing need for thorough and fast diagnosis of companion animal arthritis in emerging nations such as India is driving market expansion.

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The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:

By Animal Type:

Dogs

Cats

Others

By Indication:

Osteoarthritis

Other Arthritis

By Treatment:

Medication

Supplements

Other Treatment

By Distribution Channel:

Veterinary Hospitals & Clinics

Retail Pharmacies

Online Stores

Others

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By Region:

North America

U.S.

Canada

Europe

UK

Germany

France

Spain

Italy

ROE

Asia Pacific

China

India

Japan

Australia

South Korea

RoAPAC

Latin America

Brazil

Mexico

Rest of the World

Table of Content:

Report Overview
Global Growth Trends
Competition Landscape by Key Players
Data Segments
North America Market Analysis
Europe Market Analysis
Asia-Pacific Market Analysis
Latin America Market Analysis
Middle East & Africa Market Analysis
Key Players Profiles Market Analysis
Analysts Viewpoints/Conclusions
Appendix

Here is an overview of the different factual statements covered by the study:

The learn about consists of an area that breaks down strategic traits for the primary gamers in present and upcoming R&D, new product launches, collaborations, regional expansion, and mergers & acquisitions.
The lookup focuses on essential market traits such as revenue, product cost, potential and utilization rates, import/export rates, supply/demand figures, market share and CAGR.
The learn about is a series of analyzed records and a variety of barrels of house bought via a mixture of analytical equipment and an inside look up process.
The Market can be divided into 4 areas in accordance to the regional breakdown: North American Markets, European Markets, Asian Markets and Rest of the World.

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