Veterinary Pain Management Market To Grow Fastest in Asia-Pacific

The veterinary pain management market will grow at a rate of 7.10% by the end of this decade, to touch USD 2.78 billion by 2030.

The growth of the industry is because of growing prevalence of musculoskeletal ailments, for example osteoarthritis, in animals, along with the increasing acceptance of livestock and companion animals.

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Furthermore, the developments in the animal healthcare industry have brough about the rising requirement for veterinary pain management products.

The drug category led the industry with a revenue share of over 88%, in 2022, because of the increasing use of NSAIDs for analgesic purposes in animals. Hence, these leading the drug category as they are widely used for the treatment of pain and inflammation related to osteoarthritis in animals.

North America was the leader of the veterinary pain management market with around 42% share in 2022, and it will continue to grow at a significant rate in the future. This development is because of the increasing incidence of numerous infections, including the ones caused by W parasites, ensuing in the usage of animal antibiotics.

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Other vital factors are the increasing ownership of companion animals, booming consciousness of health of the animals, and increasing count of veterinary hospitals.

Moreover, the existence of all the important names of the industry will contribute to the growth of the industry.

APAC will grow the fastest in the future, because of the increase in the export of animal products. This is pressurizing people, who are involved in animal husbandry for maintaining animal health, because of the strict requirements for quality products for exports.

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The rising adoption of pet animals has a lot to do with the growing demand for veterinary pain management solutions in the years to come.

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This release was published on openPR.