GVR Report cover Pet Diabetes Care Market Size, Share & Trends Report

Pet Diabetes Care Market Size, Share & Trends Analysis Report By Animal Type (Dogs, Cats), By Solution (Treatment, Glucose Monitoring Devices), By Distribution Channel, By Region, And Segment Forecasts, 2022 - 2030

  • Report ID: GVR-4-68039-953-9
  • Number of Pages: 130
  • Format: Electronic (PDF)
  • Historical Range: 2017 - 2020
  • Industry: Healthcare

Report Overview

The global pet diabetes care market size was estimated at USD 1.64 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 8.26% from 2022 to 2030. Factors such as the increasing companion animal population and pet adoption, availability of pet diabetes care devices, the prevalence and rising risk factors of the disease, supportive awareness programs initiated by governments, and strategies implemented by key companies are driving the growth.

North America pet diabetes care market size, by animal type, 2020 - 2030 (USD Billion)

For instance, an article published in the American Veterinary Medical Association in November 2021, reported that the dog population in the U.S. was estimated at 76.8 million in 2016 which increased to 83.7 million in 2020. Similarly, the cat population increased from 58.4 to 60 million from 2016 to 2020. This is expected to contribute to market growth.

The COVID-19 pandemic has resulted in reduced sales in the pet diabetes care market decline, especially in 2020. This impact was mainly due to the lockdown declaration in various countries and respective restricted access to and closure of veterinary services.

The pandemic has created barriers among pet owners in accessing better veterinary care due to the forced limitation and cancellation of veterinary appointments. According to American Veterinary Medical Association, in the U.S., the veterinary service during the pandemic has been a challenge for veterinarians. However, veterinary practices have been considered an essential healthcare business in the country.

The key market players have faced difficult challenges in maintaining veterinary product supply due to the uncertainty of distribution channels. However, the key players and the Government agencies have taken various measures to continue their animal healthcare business throughout the pandemic.

For instance, Boehringer Ingelheim International GmbH took comprehensive measures to overcome the pandemic challenges and has significantly maintained its animal health business. The company gained USD 2.31 billion in the animal health business during the first half of 2020, which was an increase from the USD 2.2 billion in sales of the previous year.

Some of the key drivers propelling the growth include the increasing adoption of pet insurance, increased animal healthcare expenditure, post-pandemic return to normal, R&D initiatives by key companies, and improvements in pet diabetes care devices.

For instance, according to the Insurance Information Institute, Inc., pet care expenditure grew from USD 53.3 in 2012 to USD 123.6 in 2021. Out of which, nearly USD 1,480 is spent per dog and USD 943 is spent per cat in a year. Similarly, as per FEDIAF, in 2020 nearly 21.8 billion is spent on pet-food products and 21.2 billion is spent on other pet-related services and products in Europe.

Animal Type Insights

The dogs segment dominated the global pet diabetes care market with a revenue share of over 50% in 2021, due to the rising adoption rates of dogs, and the significant disease prevalence. The growing population of dogs is further boosting the growth. According to American Veterinary Medical Association, 45% of American households owned dogs in 2020.

Similarly, as per the European Pet Food Industry, nearly 88 million households in Europe owned a pet, and the dog population was estimated to be 90 million in 2020. In addition, the COVID-19 pandemic has encouraged most people in the world to adopt companion animals for psychological comfort.

The cats segment is anticipated to register a CAGR of over 8% during the forecast period owing to the increasing awareness among pet parents concerning symptoms of diabetes in their cats. The growing prevalence of diabetes in the cat population is another factor boosting the growth.

For instance, according to Boehringer Ingelheim International GmbH, cats are three times more prone to acquire diabetes compared to dogs. In addition, more than half of cats are obese, thereby having a higher risk of developing diabetes. The visual symptoms such as excessive urination, thirst, appetite, and sudden weight loss in diabetic cats are alerting the pet parents in timely diagnosis and following treatments.

Solution Insights

The treatment segment held the largest market share of over 60% in 2021. This is owing to the wide availability of major brands of insulin such as Vetsulin and Prozinc. Any dog or cat that is diagnosed to have diabetes is indicated to undergo a lifetime treatment with insulin injection each day.

The veterinarians prefer insulin therapy as a gold standard treatment for diabetes in pet animals, as it aids in transferring glucose from consumed food to other parts of the body. The requirement for insulin delivery devices such as syringes, needles, and delivery pens is high in veterinary hospitals and households, as the needles cannot be reused.

The glucose monitoring devices segment is expected to hold a significant market share over the forecast period owing to the growing diagnosis rate for pets with diabetes and companies launching pet diabetes care devices. As human glucometers are not accurate for animal glucose readings, specific pet glucose monitoring devices have been launched by the key players.

For instance, the AlphaTRAK blood glucose monitoring system by Zoetis is an easy-to-use veterinary kit that helps pet parents to manage their pet’s diabetes condition. In addition, the companies are also providing online application software that can be used with these devices to view reliable vital data on smartphones or tablets. For instance, Zoetis launched PetDialog App which is used along with the AlphaTRAK monitoring device. These factors are supporting the segmental growth of the market.

Distribution Channel Insights

The veterinary hospitals & clinics segment held the largest market share of over 40% in 2021. This is owing to a growing number of veterinary hospitals and clinics globally with advanced infrastructures. The veterinary clinics and hospitals are also primary centers of care for pet parents and a major source of acquiring medications for sick pets.

The growing number of veterinary professionals is another factor driving the segment growth in the market. According to the Federation of Veterinarians of Europe, the number of veterinarians was approximately 263 million in Europe in 2019.

Global pet diabetes care market share, by distribution channel, 2021 (%)

The other distribution channels such as retail pharmacies and e-commerce websites are widely contributing to the growth of the market. With an increased number of households owning companion animals, their demand for convenient access to pet glucometers and insulin products is increasing.

There are various brands of glucose monitoring devices and insulin delivery pens available in retail vet pharmacies for diabetes application in pet animals.The online sales of pet diabetic products have grown widely during the COVID-19 pandemic. E-commerce or online stores have become a convenient and easily accessible platform for pet treatment products.

Regional Insights

North America held more than 30% of the revenue share of the market in 2021. The high share of the region is due to the significant presence of key players, the adoption of various strategies initiated by key companies to increase market penetration, rising treatment availability, rising diagnostic rates, and increasing pet population & expenditure.

The growing number of veterinary clinics with licensed and trained veterinarians in the countries is another factor to boost the growth of the market.  According to the AVMA, in 2020 nearly 118,624 licensed veterinarians were estimated in the U.S. which majorly catered to pet animal patients.

The Europe region held the second-largest revenue share of the market for pet diabetes care in 2021. This is owing to the presence of major key players such as Boehringer Ingelheim International GmbH and others in the European countries.

Asia Pacific is estimated to register a CAGR of over 9% from 2022 to 2030. This is attributable to the rising animal healthcare expenditure & disposable income in key markets and increasing awareness about the disease in developing countries.The growing demand for the proper and timely diagnosis of pet diabetes, and pet humanization in developing countries like India is further boosting the growth of the market.

Key Companies & Market Share Insights

The market is competitive with the leading players deploying various strategic initiatives, such as competitive pricing, partnerships, solution expansion, sales & marketing initiatives, and mergers & acquisitions. For instance, in August 2020, Boehringer Ingelheim International GmbH launched the 20 ml presentation of prozinc (protamine zinc recombinant human insulin) as a single-dose daily drug for canines associated with diabetes.

Similarly, the manufacturers have initiated certain programs to enhance pet diabetes awareness and helped pet parents with pet diabetes care products. For instance, in August 2019, Zoetis stated that its Diabetes Pet Care Alliance program is continuously receiving support from the partner companies Merck Animal Health and Purina. The program is growing significantly each year after its inception in 2014. Such initiatives are fueling the opportunity for market growth. Some prominent players in the global pet diabetes care market include:  

  • Merck & Co., Inc.

  • Zoetis

  • BD

  • Boehringer Ingelheim International GmbH

  • Trividia Health, Inc.

  • Allison Medical, Inc.

  • UltiMed, Inc.

  • ACON Laboratories Inc.

  • i-SENS, Inc.

  • TaiDoc Technology Corporation

Pet Diabetes Care Market Report Scope

Report Attribute

Details

Market size value in 2022

USD 1.74 billion

Revenue forecast in 2030

USD 3.28 billion

Growth rate

CAGR of 8.26% from 2022 to 2030

Base year for estimation

2021

Actual estimates/Historical data

2017 - 2020

Forecast period

2022 - 2030

Quantitative units

Revenue in USD Million & CAGR from 2022 to 2030

Report coverage

Revenue forecast, company ranking, competitive landscape, growth factors, and trends

Segments covered

Animal type, solution, distribution channel, region

Regions covered

North America; Europe; Asia Pacific; Latin America; MEA

Country scope

U.S.; Canada; U.K.; Germany; Italy; France; Spain; Japan; China; India; Australia; South Korea; Brazil; Mexico; South Africa

Key companies profiled

Merck & Co., Inc.; Zoetis; BD; Boehringer Ingelheim International GmbH; Trividia Health, Inc.; Allison Medical, Inc.; UltiMed, Inc.; ACON Laboratories Inc.; i-SENS, Inc.; TaiDoc Technology Corporation

Customization scope

Free report customization (equivalent up to 8 analysts’ working days) with purchase. Addition or alteration to country, regional & segment scope.

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Avail customized purchase options to meet your exact research needs. Explore purchase options

 

Segments Covered in the Report

This report forecasts revenue growth at the global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2017 to 2030. For this study, Grand View Research has segmented the global pet diabetes care market report based on animal type, solution, distribution channel, and region:

  • Animal Type Outlook (Revenue, USD Million, 2017 - 2030)

    • Dogs

    • Cats

  • Solution Outlook (Revenue, USD Million, 2017 - 2030)

    • Treatment

      • Insulin Therapy

      • Insulin Delivery Devices

      • Other Treatments

    • Glucose Monitoring Devices

  • Distribution Channel Outlook (Revenue, USD Million, 2017 - 2030)

    • Veterinary Hospitals & Clinics

    • Retail Pharmacies

    • E-commerce

  • Regional Outlook (Revenue, USD Million, 2017 - 2030)

    • North America

      • U.S.

      • Canada

    • Europe

      • Germany

      • U.K.

      • France

      • Italy

      • Spain

    • Asia Pacific

      • China

      • India

      • Japan

      • Australia

      • South Korea

    • Latin America

      • Brazil

      • Mexico

    • MEA

      • South Africa

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