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Global Pet Diabetes Care Devices Market Analysis 2025-2030: Growth Drivers, Challenges, And Opportunities
Pet Diabetes Care Devices
What Is the Projected Growth of the Pet Diabetes Care Devices Market?
There has been a significant expansion in the market size of pet diabetes care devices in the recent past. It is projected to increase from $2.56 billion in 2024 to $2.74 billion in 2025, with a compound annual growth rate (CAGR) of 7.0%. This past growth can be linked to the launch of new glucose monitoring devices, a surge in the number of pet diabetes cases, better treatment results, an upward trend in pet healthcare spendings, and an increase in education and veterinary assistance.
The market size of pet diabetes care devices is anticipated to witness considerable expansion in the upcoming years, reaching a value of $3.91 billion by 2029 with a compound annual growth rate (CAGR) of 9.3%. This projected growth during the forecast period is linked to the increase in awareness of pet health, the adoption of integrated devices, the emphasis on customized treatment solutions, the growth of telehealth, and investments in research and development. Among the major trends likely to be prevalent in this period are collaboration and partnerships, breakthroughs in insulin delivery methods, enhanced education and awareness, the rise of telemedicine, and remote veterinary care, as well as more personalized and focused treatment strategies.
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What Are the Emerging Segments Within the Pet Diabetes Care Devices Market?
The pet diabetes care devices market covered in this report is segmented -
1) By Animal Type: Dogs, Cats, Horses
2) By Device: Glucose Monitoring Devices, Insulin Delivery Devices
3) By End Users: Homecare, Veterinary Hospitals, Others End Users
Subsegments:
1) By Dogs: Insulin Delivery Devices, Glucose Monitoring Devices, Blood Glucose Test Strips, Continuous Glucose Monitors
2) By Cats: Insulin Delivery Devices, Glucose Monitoring Devices, Blood Glucose Test Strips, Continuous Glucose Monitors
3) By Horses: Insulin Delivery Devices, Glucose Monitoring Devices, Blood Glucose Test Strips, Continuous Glucose Monitors
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What Long-Term Drivers Are Shaping Pet Diabetes Care Devices Market Trends?
The surge in pet healthcare spending is anticipated to bolster the progression of the pet diabetes care device market. Pet healthcare spending encompasses the funds utilized by pet owners to address health concerns in their pets, including veterinary care, equipment, and necessary pet healthcare devices. For instance, the American Veterinary Medical Association, a non-profit organization based in the US, reported in October 2022 that consumer spending on cats and dogs had seen a general increase between 2020 and 2022. The annual expenditure on veterinary visits for households with a single dog rose from $224 in the past two years to $362 in 2022. Hence, the escalating spending on pet health is contributing to the expansion of the pet diabetes care device market.
Who Are the Top Competitors in Key Pet Diabetes Care Devices Market Segments?
Major companies operating in the pet diabetes care devices market include Allison Medical Inc., Zoetis Inc., Becton Dickinson and Company, Boehringer Ingelheim Vetmedica Inc., Henry Schein Animal Health, Apotex Inc., Merck Co. Inc., Trividia Health Inc., UltiMed Inc., ACON Laboratories Inc., i-SENS Inc., TaiDoc Technology Corporation, Abbott Laboratories, Novo Nordisk AS, Covetrus AG, Eli Lilly and Company, Bayer AG, Terumo Corporation, AccuBioTech Co. Ltd., ALR Technologies Inc.
What Pet Diabetes Care Devices Market Trends Are Gaining Traction Across Different Segments?
The pet diabetes care device market is observing a significant trend with the development and application of modern technologies. Pioneering companies in this market are inventing cutting-edge technologies to fortify their market standing. A case in point, Zoetis Inc., a renowned veterinary pharmaceutical firm based in the U.S., introduced their advanced AlphaTrak 3 blood glucose monitoring system meant for felines and canines in the United States in February 2023. This unique system includes a freshly designed mobile application that promotes data collection, storage, and sharing between pet owners and veterinary health professionals. With its real-time data sharing capabilities, the AlphaTrak 3 blood glucose monitoring system offers an accelerated way to convey vital information like a pet's glucose levels instantly to the veterinary team, thus bolstering trust in the care of diabetic pets among vets and pet owners. This new device can deliver exact measurements in just five seconds, faster than the preceding AlphaTrak 2 model. Requiring only 0.3 microliters of blood, AlphaTrak 3 can depict a blood sugar range between 20 and 750 milligrams per deciliter. Furthermore, the AlphaTrak 3's new mobile app collects even more information from pet owners than before, encompassing details such as pet's food and water intake, activity levels, and insulin administration timing.
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Which Regions Are Becoming Hubs for Pet Diabetes Care Devices Market Innovation?
North America was the largest region in the pet diabetes care devices market in 2024. The regions covered in the pet diabetes care devices market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Pet Diabetes Care Devices Market?
2. What is the CAGR expected in the Pet Diabetes Care Devices Market?
3. What Are the Key Innovations Transforming the Pet Diabetes Care Devices Industry?
4. Which Region Is Leading the Pet Diabetes Care Devices Market?
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