Technavio has been monitoring the global veterinary pain management market, and the market is poised to grow by USD 615.4 million during 2020-2024, progressing at a CAGR of almost 9% during the forecast period. Request Free Sample Pages
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Technavio has announced its latest market research report titled global veterinary pain management market 2020-2024. (Graphic: Business Wire)
Read the 145-page research report with TOC on "Veterinary Pain Management Market Analysis Report by Geography (Asia, Europe, North America, and ROW), by Product (drugs and devices), and Segment Forecasts, 2020-2024."
The market is driven by the high prevalence of painful and inflammatory diseases in animals. Also, the rising demand for pet insurance with growing animal health expenditure is anticipated to boost the growth of the veterinary pain management market further.
Pet obesity can lead to an increased risk of numerous chronic conditions such as cancer, joint diseases, and diabetes mellitus. The growing concern among pet owners and veterinary professionals about painful diseases such as degenerative joint disease and osteoarthritis occurring in pets is driving the need for pain management in pets. Treatments with non-steroidal anti-inflammatory drugs such as ketoprofen and meloxicam have proved to be highly effective. Thus, the high prevalence of painful and inflammatory diseases in animals and the resultant increase in the prescription of medications and treatments are expected to drive market growth during the forecast period.
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Major Five Veterinary Pain Management Market Companies:
Bayer AG
Bayer AG is headquartered in Germany and operates the business under various business segments such as pharmaceuticals, crop science, consumer health, and animal health. The company offers Quellin, which is used to alleviate the pain and inflammation in dogs suffering from osteoarthritis.
Boehringer Ingelheim International GmbH
Boehringer Ingelheim International GmbH is headquartered in Germany and offers products through the following segments: Human pharmaceuticals, Animal health, and Biopharmaceuticals. The company provides NSAID drugs such as Metacam and PREVICOX.
Cadila Healthcare Ltd.
Cadila Healthcare Ltd. is headquartered in India and has business operations under the business segment, Pharmaceuticals. The company offers an NSAID drug, Zobid, which relieves large and small animals from pain and inflammation associated with osteoarthritis.
Chanelle Pharma Group
Chanelle Pharma Group is headquartered in Ireland and offers products through the following two business segments: human health and animal health. The company provides an oral drug, Chanazone, which is prescribed to minimize pain and inflammation in horses.
Daiichi Sankyo Co. Ltd.
Daiichi Sankyo Co. Ltd. is headquartered in Japan and offers services through the business segment, Pharmaceutical operation. The company provides an injectable drug, Adequan, which is prescribed to dogs and horses suffering from arthritis. This drug helps to alleviate lameness, pain, and lowered range of motion associated with the condition.
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Veterinary Pain Management Products Outlook (Revenue, USD Million, 2020-2024)
- Drugs
- Devices
Veterinary Pain Management Regional Outlook (Revenue, USD Million, 2020-2024)
- Asia
- Europe
- North America
- ROW
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