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Surging Pet Adoption Rates Fuel Expansion In The Pet Diabetes Care Market: Critical Driver Shaping the Pet Diabetes Care Market in 2025
Pet Diabetes Care
Pet Diabetes Care Market Size Valuation Forecast: What Will the Market Be Worth by 2025?
In recent times, the pet diabetes care market has seen substantial growth. Its size is predicted to rise from $2.21 billion in 2024 to $2.4 billion in 2025, exhibiting a compound annual growth rate (CAGR) of 8.6%. This growth during the historical phase can be linked to several factors such as increased cognizance of pet health, developments in veterinary medicine, the commonness of diabetes in pets, treatment of pets on par with humans, rising emphasis on pet nutrition, promotional campaigns conducted by veterinary bodies, and the accessibility of insulin and other medications.
Pet Diabetes Care Market Size Forecast: What's the Projected Valuation by 2029?
The market for pet diabetes care is predicted to experience robust growth in the coming years, expanding to a value of $3.46 billion in 2029 with a Compound Annual Growth Rate (CAGR) of 9.5%. Factors contributing to this anticipated growth during the projection period include increased uptake of pet insurance, tailored diabetes management strategies, emphasis on preventive pet healthcare, the spreading of pet health worldwide, growing investments in pet healthcare studies, and increased consumer wealth. Key trends during the forecast period are anticipated to be developments in veterinary diagnostics, concentration on weight management for pets, innovations in insulin delivery technology, increased pet insurance offerings, more availability of specialist pet sustenance, advancements in telemedicine and remote monitoring, and collaborations within veterinary medicine.
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What Are the Drivers Transforming the Pet Diabetes Care Market?
The proliferation of pet adoption is predicted to boost the expansion of the pet diabetes care market. Acquiring a pet from a rescue or shelter that has been abandoned by its previous owners is what pet adoption entails, as opposed to purchasing from a pet store, breeder, or other private parties. As pets are rapidly being diagnosed with diabetes on a yearly basis, this is partially due to the fact that their lifestyles often reflect ours, characterized by more sedentary behavior and greater dependency on processed foods. For instance, in 2022, Animal Medicines Australia, an Australian-based non-governmental organization, recorded substantial growth in pet ownership. The pet owner count rose to 28,730.8 in 2022, indicating a 24% surge from the preceding year's 39% representation, illustrating a robust rising trend in adopting pets and making caregiving investments. The spike in pet ownership underscores their growing appeal amongst Australian households. Consequently, this rise in pet adoption is propelling the expansion of the pet diabetes care market.
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What Long-Term Trends Will Define the Future of the Pet Diabetes Care Market?
The pet diabetes market is witnessing a rise in popularity of certain key trends such as an upsurge in research and development activities and the introduction of innovative products. Extensive research is underway to gain a deeper insight into diabetes in pets to simplify its management. Additionally, several businesses are introducing novel offerings like generic drugs to maintain their market standing. In December 2022, Elanco Animal Health Inc.'s drug for cats with a particular type of diabetes received approval from the U.S. Food and Drug Administration (FDA), a scientific regulatory body, making it the first animals' oral medication to be sanctioned for this condition.
Which Segments in the Pet Diabetes Care Market Offer the Most Profit Potential?
The pet diabetes care market covered in this report is segmented -
1) By Drug Type: Insulin Therapy, Oral Medication
2) By Device Type: Glucose Monitoring Devices, Insulin Delivery Devices
3) By Animal Type: Canine, Feline, Other Animal Types
4) By End-User: Veterinary Clinics, Home Care Settings, Veterinary Hospitals
Subsegments:
1) By Insulin Therapy: Canine Insulin Products, Feline Insulin Products, Insulin Delivery Devices
2) By Oral Medication: Glipizide, Metformin, Other Oral Hypoglycemic Agents
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Which Firms Dominate the Pet Diabetes Care Market by Market Share and Revenue in 2025?
Major companies operating in the pet diabetes care market are C.H. Boehringer Sohn AG & Co. KG, Becton Dickinson and Company, Merck & Co Inc., Zoetis Inc., Trividia Health Inc., Allison Medical Inc., UltiMed Inc., Apotex Inc., Henry Schein VET GmbH, Medtrust Holdings Inc., i-SENS Inc., Taidoc Technology Corp., Covetrus Inc., ALR Technologies Inc., Vet Innovations Inc., F. Hoffmann-La Roche Ltd., Abbott Laboratories, AgaMatrix Inc., Ascensia Diabetes Care Holdings AG, Bayer AG, Dexcom Inc., LifeScan Inc., Medtronic PLC, Novo Nordisk A/S, Sanofi S.A., Senseonics Holdings Inc., Tandem Diabetes Care Inc., Terumo Corporation, Animas Corporation, Insulet Corporation, Roche Diabetes Care Inc.
Which Regions Offer the Highest Growth Potential in the Pet Diabetes Care Market?
North America was the largest region in the pet diabetes care market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the pet diabetes care market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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