Press release
Soaring Demand Set to Propel Companion Animal Arthritis Market to $6.04 Billion by 2029
Companion Animal Arthritis Market
What Is the Expected CAGR for the Companion Animal Arthritis Market Through 2025?
Over the past few years, there has been significant growth in the companion animal arthritis market. The market size is projected to escalate from $3.72 billion in 2024 to $4.08 billion in 2025, signifying a compound annual growth rate (CAGR) of 9.7%. The past growth can be associated with factors such as rising pet ownership, progression in veterinary medicine, and an increase in awareness and education.
What's the Projected Size of the Global Companion Animal Arthritis Market by 2029?
The market for arthritis in companion animals is projected to experience quick expansion in the upcoming years. The market is anticipated to reach $6.04 billion by 2029, with a compound annual growth rate (CAGR) of 10.3%. Factors contributing to this growth during the forecast period include an aging pet population, progress in therapeutic solutions, personalized pet nutrition, the application of telemedicine in veterinary care, and the increased humanization of pets. Notable trends over this period include the use of biologicals in veterinary medicine, digital healthcare solutions, nutraceuticals and functional foods, collaborations and strategic partnerships, the influence of pet insurance, consumer preference for natural and holistic therapies, and data-oriented veterinary care.
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Top Growth Drivers in the Companion Animal Arthritis Industry: What's Accelerating the Market?
The growth of the companion animal arthritis market is likely to be driven by the increasing trend of adopting pets. Pet ownership has been known to alleviate stress, anxiety, depression, among other issues. It entails bringing a previously owned dog, cat, or other unconventional pets that were surrendered to shelters or rescue centres, as opposed to acquiring one from pet stores, breeders, or other individuals. As these pets advance in age, they become more susceptible to arthritis. For instance, The American Pet Products Association, a non-profit industry association based in the U.S., revealed in a survey that nearly half of British households with pets added at least one new animal during the country's lockdown. Additionally, around 11.3 million Americans welcomed new pets during the pandemic. Furthermore, the survey found that 16% of Generation Z respondents and 13% of millennials took in a new pet amidst the pandemic. Hence, the escalating trend of pet adoption has a significant bearing on the expansion of the companion animal arthritis market.
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What Trends Will Shape the Companion Animal Arthritis Market Through 2029 and Beyond?
Leading corporations in the companion animal arthritis industry are progressively prioritizing technology-based advancements like sophisticated therapeutic products and supplements to provide pets with effective pain mitigation and enhanced joint health, promising an improved quality of life for older and arthritis-impacted creatures. Bonqat, a newly introduced medication for cats, is instrumental in reducing anxiety during stressful events, such as voyages or vet visits, without inducing drowsiness. The objective of the product is to tranquilize cats, simplifying these stressful occasions for both them and their caretakers. For example, Zoetis Inc., a U.S.A.-based corporation specializing in the production of medicines and vaccines for pets and livestock, introduced Bonqat (pregabalin oral solution) in April 2024 to alleviate felines from acute anxiety and fear linked with transportation and visits to the vet, which could hinder routine care. Pet owners can either mix the oral solution with food or directly feed it to the cats, simplifying its administration. The recommended dose is minuscule (0.1 mL/kg) and the majority of cat owners have reported easy administration.
What Are the Main Segments in the Companion Animal Arthritis Market?
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
Subsegments:
1) By Dogs: Large Breed Dogs, Small Breed Dogs, Senior Dogs
2) By Cats: Domestic Cats, Senior Cats
3) By Other Types: Rabbits, Ferrets, Other Small Mammals
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Which Top Companies are Driving Growth in the Companion Animal Arthritis Market?
Major companies operating in the companion animal arthritis market include Zoetis Inc., Merck Animal Health, Boehringer Ingelheim, Bayer Animal Health, Vetoquinol, Ceva Santé Animale, Dechra Pharmaceuticals, PetMed Express, Pet Health Solutions, VetriScience, Synlogic, Canine Arthritis Management, Integrative Pet Care, The Honest Kitchen, Vetri-Science Laboratories, Anivive Lifesciences, Pawsitively Posh Pets, Trifecta Natural, Nutramax Laboratories, Hill's Pet Nutrition, Royal Canin, Medivet, Virbac, Canna-Pet, Fetch for Pets, Lintbells, Allivet, Petlab Co.
Which Regions Will Dominate the Companion Animal Arthritis Market Through 2029?
North America was the largest region in the companion animal arthritis market in 2024. The regions covered in the companion animal arthritis market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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