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Canine Arthritis Treatment Global Market Top Companies, Trends and Future Prospects Details for Business Development 2033 | Bayer AG, OrthoPets LLC, Zoetis Inc., Vetoquinol SA, VetStem Inc.
Canine Arthritis Treatment Market
As per the report, the canine arthritis treatment market size has grown strongly in recent years. It will grow from $2.33 billion in 2023 to $2.35 billion in 2024 at a compound annual growth rate (CAGR) of 5.3%. The canine arthritis treatment market size is expected to see strong growth in the next few years. It will grow to $2.90 billion in 2028 at a compound annual growth rate (CAGR) of 5.5%.
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Rising Pet Ownership Rates Drive Growth In Canine Arthritis Treatment Market
The rising pet ownership rate is expected to propel the growth of the canine arthritis treatment market going forward. Pet ownership refers to the responsibility and care taken by individuals or households in providing for the needs, well-being, and companionship of domesticated animals kept primarily for pleasure rather than utility. The rising pet ownership rates are due to factors such as lifestyle changes, the humanization of pets, and higher disposable incomes. Pet owners use canine arthritis treatments to manage and alleviate the symptoms of arthritis in their dogs, aiming to improve their pets' quality of life and maintain mobility. For instance, in October 2023, according to the American Pet Products Association, a US-based non-profit association, there were 86.9 million US households that owned a pet, which is 66% of households in 2022. Therefore, the rising pet ownership rate is driving the growth of the canine arthritis treatment market.
Innovative Solutions Enhanced Canine Arthritis Treatments Market
Major companies operating in the canine arthritis treatment market are developing innovative treatments, such as bedinvetmab injections, to address canine joint health and mobility. Bedinvetmab is a monoclonal antibody injection that works by targeting and neutralizing nerve growth factor (NGF), a protein involved in pain used in veterinary medicine. For instance, in May 2023, Zoetis Inc., a US-based animal health company, received approval from the Food and Drug Administration (FDA) for Librela, a bedinvetmab injection. It is the first monoclonal antibody (mAb) approved by the FDA for use in dogs and works by binding to and inhibiting the biological activity of canine nerve growth factor (NGF), which is involved in the regulation of pain associated with OA. It is administered by subcutaneous injection once a month, making it a convenient and long-term solution for canine OA pain management.
The canine arthritis treatment market covered in this report is segmented -
1) By Treatment Type: Drugs, Supplements, Surgical Procedures, Other Treatment Types
2) By Route Of Administration: Oral, Parenteral, Other Routes Of Administrations
3) By Arthritis Type: Osteoarthritis, Rheumatoid Arthritis, Osteochondrosis, Traumatic Arthritis
4) By Distribution Channels: Veterinary Clinics And Hospitals, Retail Pharmacies, Online Pharmacies
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Major companies operating in the canine arthritis treatment market are Merck & Co. Inc., Bayer AG, Eli Lilly and Company, Zoetis Inc., Boehringer Ingelheim Animal Health, Elanco Animal Health Incorporated, Royal Canin SAS, Virbac Group, Ceva Sante Animale S.A., Hill's Pet Nutrition Inc., Vetoquinol SA, Norbrook Laboratories Limited, American Regent Inc., Thorne Healthtech Inc., VetStem Inc., Eltech K-Laser s.r.l., Liquid Health Inc, Nutri-Vet LLC , OrthoPets LLC, Rejuvenate Bio Inc.
Contents of the report:
1. Executive Summary
2. Canine Arthritis Treatment Market Report Structure
3. Canine Arthritis Treatment Market Trends And Strategies
4. Canine Arthritis Treatment Market - Macro Economic Scenario
5. Canine Arthritis Treatment Market Size And Growth
…..
27. Canine Arthritis Treatment Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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