Global Companion Animal Arthritis Market Price 2024, Forecast To 2033
16 Feb, 2024
The companion animal arthritis market has experienced robust growth, advancing from $3.4 billion in 2023 to $3.72 billion in 2024, showcasing a compound annual growth rate (CAGR) of 9.7%. Historical growth drivers include increasing pet ownership, advancements in veterinary medicine, awareness, and education. The market is expected to see rapid growth, reaching $5.47 billion in 2028, with a CAGR of 10.1%. The forecasted expansion is attributed to an aging pet population, innovations in therapeutics, customized nutrition, telemedicine in veterinary care, and the humanization of pets. Major trends in the forecast period include biologics in veterinary medicine, digital health solutions, nutraceuticals and functional foods, collaborations and partnerships, the impact of pet insurance, and consumer demand for natural and holistic therapies, along with data-driven veterinary care.
Global Companion Animal Arthritis Market Key Driver
The rising trend of pet adoption is contributing to the growth of the companion animal arthritis market. Pet adoption, driven by various benefits such as stress reduction and companionship, has led to an increased population of pets facing the risk of arthritis. The data from surveys by The American Pet Products Association and the Pew Research Center highlights the significant rise in pet adoption. The rising trend of pet adoption is a major driver for the growth of the companion animal arthritis market.
Get A Free Sample Of The Global Companion Animal Arthritis Market ReportGlobal Companion Animal Arthritis Market Segments
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
By Geography: The regions covered in the template market report are Asia-Pacific, Western Europe, Eastern Europe,North America, South America, Middle East, and Africa. Among these regions.
North America was the largest region in the companion animal arthritis market in 2023. The regions covered in the companion animal arthritis market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Major Companion Animal Arthritis Industry Players
Zoetis Inc.; Virbac S. A.; Elanco Animal Health Incorporated; C. H. Boehringer Sohn AG & Co. KG; Ceva Santé Animale; Dechra Pharmaceuticals PLC; Vetoquinol S. A.; Phibro Animal Health Corporation; NexGen Pharmaceuticals Inc.; Norbrook Holdings Limited; Covetrus Inc.; Bayer AG; Abbott Laboratories; Qiagen N. V.; Becton Dickinson and Company; Quest Diagnostics Incorporated; Hologic Inc.; F. Hoffmann-La Roche Ltd.; Femasys Inc.; Arbor Vita Corporation; VetStem Biopharma Inc.; Aratana Therapeutics Inc.; Kindred Biosciences Inc.; Karyopharm Therapeutics Inc.; Regeneus Ltd.; VetCell Therapeutics; VetDC Inc.; VetPharm Inc.; VetStem; VetZ Limited; VetZoo
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Companion Animal Arthritis Market Overview
The companion animal arthritis refers to a condition involving inflammation of one or more joints in companion animals such as cats, dogs, and other exotic animals. Companion animal arthritis develops in the bones when the cartilage between joints becomes rougher and more worn, forcing the bone surfaces to rub against one another.
Companion Animal Arthritis Global Market Report 2023 provides data on the global companion animal arthritis market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The companion animal arthritis market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.