Global Pet Diabetes Care market trends 2024, Forecast To 2033
4 Mar, 2024
The pet diabetes care market has demonstrated robust growth, escalating from$2.04 billion in 2023 to$2.23 billion in 2024, marking a CAGR of 9.6%. This growth is attributed to growing awareness of pet health, advancements in veterinary medicine, prevalence of diabetes in pets, humanization of pets, and increased focus on pet nutrition. Expected to maintain its upward trajectory, the market is forecasted to reach$3.21 billion in 2028, boasting a CAGR of 9.5%. Major trends in the forecast period include advancements in veterinary diagnostics, focus on pet obesity management, innovation in insulin delivery systems, rise in pet insurance coverage, increased availability of specialized pet foods, telemedicine and remote monitoring, as well as collaborations in veterinary medicine.
Global Pet Diabetes Care Market Key Driver
An increase in pet adoption is expected to propel the growth of the pet diabetes care market going forward. Pet adoption is the process of obtaining a pet from a shelter or rescue that has been left behind by its prior owners, as opposed to buying a pet from a pet store, breeder, or other individuals. Diabetes is increasingly being diagnosed in pets every year, which is partly because their lifestyles mirror ours in that they are more sedentary and rely more heavily on processed foods. In June 2021, 70% of American homes have pets, up from 67% in the 2019-2020 survey, according to the survey conducted by the American Pet Products Association (APPA), a US-based leading trade group for the pet business. A new pet was adopted by 14% of all respondents (pet owners and non-pet owners combined). Therefore, an increase in pet adoption is driving the growth of the pet diabetes care market.
Get A Free Sample Of The Global Pet Diabetes Care Market ReportGlobal Pet Diabetes Care Market Segments
The global pet diabetes care market covered in this report is segmented –
1) By Drug Type: Insulin Therapy, Oral Medication
2) By Device Type: Glucose Monitoring Devices, Insulin Delivery Devices
3) By Animal Type: Canine, Feline, Other Animal Types
4) By End-User: Veterinary Clinics, Home Care Settings, Veterinary Hospitals
By Geography: The regions covered in the pet diabetes care market report are Asia-Pacific, Western Europe, Eastern Europe,North America, South America, Middle East, and Africa.
North America was the largest region in the pet diabetes care market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the pet diabetes care market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Major Pet Diabetes Care Industry Players
C.H. Boehringer Sohn AG & Co. KG, Becton Dickinson and Company, Merck & Co Inc., Zoetis Inc., Trividia Health Inc., Allison Medical Inc., UltiMed Inc., Apotex Inc., Henry Schein VET GmbH, Medtrust Holdings Inc., i-SENS Inc., Taidoc Technology Corp., Covetrus Inc., ALR Technologies Inc., Vet Innovations Inc., F. Hoffmann-La Roche Ltd., Abbott Laboratories, AgaMatrix Inc., Ascensia Diabetes Care Holdings AG, Bayer AG, Dexcom Inc., LifeScan Inc., Medtronic PLC, Novo Nordisk A/S, Sanofi S.A., Senseonics Holdings Inc., Tandem Diabetes Care Inc., Terumo Corporation, Animas Corporation, Insulet Corporation, Roche Diabetes Care Inc.
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Pet Diabetes Care Market Overview
Pet diabetes care is used to treat pets suffering from diabetes, which may also cause other diseases such as heart disease, pancreatitis, urinary tract infections, kidney disease, and skin infections. Diabetes develops when a pet's body produces insufficient insulin, stops generating it altogether, or uses it improperly, which hinders the body from converting food into energy.
Pet Diabetes Care Global Market Report 2023 provides data on the global pet diabetes care market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The pet diabetes care market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.