The global veterinary pain management market is expected to witness significant growth over the forecast period. Pain in animals can occur due to arthritis, cancer or surgeries. The growing prevalence of inflammatory diseases and awareness regarding animal welfare are expected to accelerate the growth of this market in near future. According to animal care foundation, around 32 million cats and 65 million dogs are diagnosed with cancer as of 2017 Moreover, according to AAPA report, around 10% pet dogs and 8% pet cats in the U.S. have undergone surgery in 2017. Moreover, favorable pet insurance policies are also one major driver for this market.
On the basis of products, the market is segmented into drugs and devices. The drug segment1 is further segmented into opioids, local anesthetics, α2 adrenergic agonists, nonsteroidal anti -inflammatory drugs, and others (sedatives). The device is further sub-segmented into laser therapy and electromagnetic therapy. The drugs are affordable, easily available, easy to administer, thus this segment is expected to fuel the market growth in the near future. Moreover increasing demand for laser therapy treatment in the past few years is expected to show potential growth of the market.
On the basis of animal type, the veterinary pain management market is bifurcated into companion and livestock animal. The companion animal is further sub-segmented into dogs, cats, and others. The livestock animal is bifurcated into cattle, poultry, pigs and others. The increasing demand for pet adoption, growing animal healthcare awareness and emerging economy in Asia Pacific region is expecting to fuel the market growth for companion animal segment in the coming years. Moreover, the increase in animal protein consumption and the growing demand for livestock production is expected to fuel the demand for safety and proper care of livestock animals.
On the basis of application, the market is segmented into joint pain, postoperative pain, cancer, and others. The others include abdominal pain, traumatic pain, neuropathic pain etc. The growing incidence of osteoarthritis and various musculoskeletal disorder is expected to fuel the join pain segment in near future. Moreover, the increasing prevalence of cancer is also one of the major drivers for the market.
On account of end use, the market is segmented into hospitals, clinics and others (research institutes). The growing economy and an increase in the number of veterinary hospitals is expected to propel this segment growth over the forecast period.
North America held the largest market share for veterinary pain management. Increasing demand for pet adoption, favorable pet insurance policies and advanced animal healthcare sector make this continent a major growth propeller for the market. For instance, according to the insurance information institute, around 1.6 million pets are under insurance policies in the U.S. as of 2016. Asia Pacific regional market is anticipated to witness lucrative growth over the forecast period due to the emerging economy and the untapped opportunities.
The veterinary pain management market is dominated by few market players such as Zoetis, Elanco, Merck Animal Health,Boehringer Ingelheim,Dechra Pharmaceuticals and others. Companies are adopting new strategies for increasing their market share such as regional expansion, new product launch, merger and acquisitions etc. For instance, in April 2018 Henry Schein announced to merge its animal health business with Vets First Choice in a probe to improve its veterinary portfolio. This shows the potential growth for veterinary pain management market in the coming years.
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