Steroids for Pets Market Analysis: Uncovering Key Drivers, Trends, and Opportunities Worldwide

Steroids for Pets Market Size

According to Vetnosis, the value of the global animal health industry will increase by 12% to $38.3 billion in 2021.

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Steroids for Pets refer to drugs administered to companion animals for therapeutic benefits similar to those prescribed for humans. Commonly utilized corticoids include prednisone, dexamethasone, and triamcinolone acetonide while sex hormones such as estradiol and progesterone are occasionally necessary in small animal medicine practices. Topical, injectable, or oral routes of administration vary based upon species-specific variables influencing absorption patterns, pharmacokinetics, and dosing regimens appropriate for individual patients.

According to new survey, global Steroids for Pets market is projected to reach US$ million in 2029, increasing from US$ million in 2022, with the CAGR of % during the period of 2023 to 2029.

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Pet medical care is the second largest segment in pet industry. In the UK, annual spending on veterinary and other pet services has risen from £2.6bn in 2015 to £4bn in 2021, a 54% increase in just six years. White Paper on China's Pet Healthy Consumption of JD shows that in 2023, there are 13.09 million pets entering middle age and old age. And pet aging is expected to be seen in the next few years. Changes in the age structure of pets will further bring about the development of the pet medical industry. According to the data of the 2022 China Pet Medical Industry White Paper, from the perspective of market size, the scale of China's pet medical market is about ¥67.5 billion, accounting for about 22.5% of the entire pet industry. From the perspective of hospital operation time, pet hospitals within 5 years accounted for about 73%. About 11% of the pet hospitals have been in operation for more than 10 years. From the perspective of hospital turnover, nearly 40% of the hospitals have increased their annual turnover year-on-year, and the growth rate is mainly within 411%.

By Type
• Prednisone
• Prednisolone
• Dexamethasone

By Application
• Cat
• Dog

Key Companies
Boehringer Ingelheim, Zoetis, Merck, Virbac, Vetoquinol, Bimeda Animal Health, Dechra Pharmaceuticals, Trudell Animal Health, Dechra Veterinary Products

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This release was published on openPR.