Press release
Steady Expansion Forecast for Companion Animal Arthritis Market, Projected to Reach $6 Billion by 2029
Companion Animal Arthritis
Companion Animal Arthritis Market Size Valuation Forecast: What Will the Market Be Worth by 2025?
In recent times, there has been significant growth in the companion animal arthritis market. The market size, which is projected to be at $3.72 billion in 2024, is expected to ascend to $4.07 billion in 2025, reflecting a 9.3% compound annual growth rate (CAGR). The substantial growth during the historic period can be tied to factors like increased pet ownership, advancements in the field of veterinary medicine, and heightened awareness and education.
Companion Animal Arthritis Market Size Forecast: What's the Projected Valuation by 2029?
Expectations are high for the companion animal arthritis market to experience significant growth in the upcoming years. The projected growth rate is estimated to reach $6 billion in 2029, with a compounded annual growth rate of 10.2%. Factors influencing this estimated growth during the forecast period include the aging pet population, advances in therapeutics, personalized pet nutrition, implementation of telemedicine in veterinarian care, and the increasing trend of treating pets as family members. Potential trends during the forecast period include the use of biologics in veterinarian medicine, the application of digital health solutions, the rise of nutraceuticals and functional foods, the impact of collaborations and partnerships, the effect of pet insurance, increasing consumer preference for natural and holistic treatment methods, and the growing reliance on data-driven veterinary care.
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What Are the Drivers Transforming the Companion Animal Arthritis Market?
The increasing pattern of adopting pets is predicted to fuel the expansion of the companion animal arthritis market. Adopting pets helps alleviate feelings of stress, anxiety, and depression, among other benefits. The process of pet adoption consists of acquiring a dog, cat, or other exotic animals that previous owners have surrendered to a shelter or rescue group instead of purchasing from a pet store, breeder, or another individual. As pets age, they are at risk of developing arthritis. For example, The American Pet Products Association, a non-profit industry association based in the US, conducted a survey that found that nearly half of British households with pets adopted at least one new animal while the nation was in lockdown, and 11.3 million Americans introduced new pets to their homes during the pandemic. Moreover, the survey revealed that 16% of Generation Z participants and 13% of millennials said they adopted a new pet during the pandemic. Thus, the growing popularity of pet adoption plays a substantial role in driving the companion animal arthritis market's growth.
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What Long-Term Trends Will Define the Future of the Companion Animal Arthritis Market?
Leading firms in the companion animal arthritis industry are pivoting towards technological advancements such as cutting-edge therapeutic items and nutritional add-ons. Their aim is to deliver potent pain alleviation and enhanced joint well-being for pets, especially the elderly and those suffering from arthritis, thus promoting a superior quality of life. Bonqat is an innovative medication designed to reduce anxiety in cats during high-stress scenarios like travel or vet appointments, without inducing sleepiness. The goal of the product is to soothe cats, making it less stressful for them and their caregivers during journeys or visits. For example, in April 2024, Zoetis Inc., a manufacturer of medicines and vaccines for animals based in the US, introduced Bonqat (pregabalin oral solution). It is aimed at easing acute fear and anxiety in cats during transportation and vet visits, which can sometimes hinder routine care. This oral solution can be combined with food or directly given to the cat, simplifying the task for pet owners. The dosage is meagre (0.1 mL/kg), and most cat owners have found it simple to administer.
Which Segments in the Companion Animal Arthritis Market Offer the Most Profit Potential?
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 Firms Dominate the Companion Animal Arthritis Market by Market Share and Revenue in 2025?
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 Offer the Highest Growth Potential in the Companion Animal Arthritis Market?
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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