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Companion Animal Arthritis Market Size, Industry Trends, Regional Outlook, Competitive Market, And Forecast To 2033
Companion Animal Arthritis Market Overview
As per the report, the companion animal arthritis market size has grown strongly in recent years. It will grow from $3.4 billion in 2023 to $3.72 billion in 2024 at a compound annual growth rate (CAGR) of 9.7%. The companion animal arthritis market size is expected to see rapid growth in the next few years. It will grow to $5.47 billion in 2028 at a compound annual growth rate (CAGR) of 10.1%.
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Growing Trend Of Pet Adoption Boosts The Companion Animal Arthritis Market
Rising trend of pet adoption is expected to propel the growth of companion animal arthritis market. Pet adoption helps reduce stress, anxiety, depression, and so on. Pet adoption is a method of getting a dog, cat, and other exotic animals that their prior owners have given up to a shelter or rescue rather than getting one from a pet shop, breeder, or another individual. Pets face the risk of developing arthritis once they start getting into old age. For instance, according to a survey conducted by, The American Pet Products Association, a US-based not-for-profit industry association, approximately half of british homes with pets acquired at least one new animal while the country was in lockdown, while 11.3 million Americans acquired new pets during the pandemic. Additionally, in the survey, 16% of Generation Z respondents and 13% of millennials stated they had adopted a new pet during the pandemic. Therefore, the rising trend of pet adoption contributes significantly to the growth of the companion animal arthritis market.
Advancements In Monoclonal Antibody Therapy For Companion Animal Arthritis Treatment
Technological innovation is a key trend in the companion animal arthritis market. Technological innovation benefits people by improving productivity and giving them access to freshly produced better goods and services, which raise the general standard. Major players in the industry are using monoclonal antibody therapy to treat companion animal arthritis. Monoclonal antibody therapy is used on companion animals to treat arthritis, immune-mediated disorders, chronic pain, and others. Monoclonal antibodies are antibodies produced by immune cells that are identical clones of a single parent cell. For instance, In April 2021, Zoetis, a US-based pharmaceutical company, launched LIBRELA® and SOLENSIA® in European Union, United Kingdom, and Switzerland to prevent arthritis pain in cats and dogs using monoclonal antibody therapy. It works similarly to naturally produced antibodies, with little involvement of the liver or kidneys in their metabolism and removal of gastrointestinal impact.
The companion animal arthritis market covered in this report is segmented -
1) By Type: Dogs, Cats, Other Types
2) By Indication: Osteoarthritis, Other Arthritis
3) By Treatment: Medication, Supplements, Other Treatments
4) By Distribution Channel: Veterinary Hospitals And Clinics, Retail Pharmacies, Online Stores, Other Distribution Channels
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Major companies operating in the companion animal arthritis market report are Zoetis Inc., Virbac S. A., Elanco Animal Health Incorporated, C. H. Boehringer Sohn AG & Co. KG, Ceva Santé Animale, Dechra Pharmaceuticals PLC, Vetoquinol S. A., Phibro Animal Health Corporation, NexGen Pharmaceuticals Inc., Norbrook Holdings Limited, Covetrus Inc., Bayer AG, Abbott Laboratories, Qiagen N. V., Becton Dickinson and Company, Quest Diagnostics Incorporated, Hologic Inc., F. Hoffmann-La Roche Ltd., Femasys Inc., Arbor Vita Corporation, VetStem Biopharma Inc., Aratana Therapeutics Inc., Kindred Biosciences Inc., Karyopharm Therapeutics Inc., Regeneus Ltd., VetCell Therapeutics, VetDC Inc., VetPharm Inc., VetStem, VetZ Limited, VetZoo
Contents of the report:
1. Executive Summary
2. Companion Animal Arthritis Market Report Structure
3. Companion Animal Arthritis Market Trends And Strategies
4. Companion Animal Arthritis Market - Macro Economic Scenario
5. Companion Animal Arthritis Market Size And Growth
…..
27. Companion Animal Arthritis Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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