Veterinary Pain Management Market by Product (Drugs (NSAIDs, Opioids), Device (Laser, Electromagnetic)), Application (Osteoarthritis, Cancer), Animal Type (Dog, Cat, Horse, Cattle), Distribution Channel (Hospital, Pharmacy) Global Forecast to 2023
-:Market Dynamics:❖ Drivers: ▪ Growth in Companion Animal Adoption ▪
Growth in the Number of Veterinary Practitioners and Their Income Levels in Developed Economies
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Growing Prevalence of Animal Diseases Causing Pain and Inflammation
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Rising Demand for Pet Insurance With Growing Animal Health Expenditure
❖ Restraint: ▪ Increasing Pet Care Costs ❖ Opportunities: ▪ Increasing Popularity of Non-Conventional and Non-Pharmaceutical Treatment Techniques ▪
Untapped Emerging Markets
❖ Challenges: ▪ Low Animal Healthcare Awareness in Emerging Markets ▪
Stringent Regulatory Approval Process for Pain Management Drugs
Factors such as growth in companion animal adoption, increasing number of veterinary practitioners and their rising income levels in developed economies, growing prevalence of animal disease causing pain and inflammation, and the rising adoption of pet insurance with growing animal health expenditure are expected to drive the growth of the market.
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-:Global Industry Segmentation:By drug type, disease-modifying osteoarthritis agents are expected to grow at the highest CAGR during 2018-2023
Based on drug type, the market is segmented into non-steroidal anti-inflammatory drugs (NSAIDs), opioids, alpha-2 agonists, local anesthetics, disease-modifying osteoarthritis agents (DMOAAs), and other drugs. The DMOAAs segment is expected to grow at the highest CAGR during the forecast period. The high growth rate of this segment can be attributed to the high prevalence of arthritis in animals. However, NSAIDs are expected to hold the largest share in the market due to their wide range of applications areas and low cost.
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By application, joint pain accounted for the largest market share in 2017
Based on application, the veterinary pain management market has been segmented into joint pain, postoperative pain, cancer, and other applications. Other applications include traumatic pain, abdominal pain, neuropathic pain, dermatological pain, and mastitis. In 2017, joint pain held the largest share of the veterinary pain management market. The dominant share of this application segment has been attributed to the growing pet population, rising prevalence of osteoarthritis and musculoskeletal disorders in animals, and the increasing population of obese and overweight pets.
Veterinary hospitals & clinics are expected to be the largest distribution channel for veterinary pain management products in 2017.
Based on distribution channels, the veterinary pain management market is segmented into hospitals & clinics and pharmacies. In 2017, veterinary hospitals & clinics accounted for a larger market share than pharmacies primarily due to factors such as the increasing number of veterinary clinics and hospitals, growing ownership of companion animals, and increasing veterinary expenditure.
APAC is expected to grow at the highest CAGR during the forecast period.
Global veterinary pain management market has been studied for North America, Europe, Asia Pacific (APAC), Latin America, and Middle East & Africa. APAC is expected to grow at the highest CAGR in veterinary pain management market, primarily due to the significant growth in pet adoption, increasing awareness about animal health, and growing per capita animal health expenditure, especially in India and China.
-:Scope of the Report:The research report categorizes the global veterinary pain management market into the following segments and subsegments: Global Veterinary Pain Management Market: •
By Products o Drugs By Type ▪ NSAIDs ▪ Opioids ▪ Local Anesthetics ▪ Alpha-2 Agonists ▪ Disease-modifying Osteoarthritis Agents ▪ Other Drugs ▪ By Route of Administration ▪ Oral ▪ Parenteral ▪ Topical o Devices ▪ Laser Therapy Devices ▪ Electromagnetic Therapy Devices By Application o Joint Pain ▪ Osteoarthritis ▪ Musculoskeletal o Postoperative Pain o Cancer o Other Applications By Animal Type o Companion Animals ▪ Dogs ▪ Cats ▪ Horses ▪ Other Companion Animals o Livestock ▪ Cattle ▪ Swine ▪ Other Livestock By Distribution Channel o Hospitals & Clinics o Pharmacy ▪
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By Region o North America ▪ US ▪ Canada o Europe ▪ Germany ▪ France ▪ UK ▪ Italy ▪ Spain ▪ Rest of Europe o Asia Pacific ▪ Japan ▪ China ▪ India ▪ Rest of Asia Pacific o Latin America o Middle East and Africa
Available Customizations With the given market data, MarketsandMarkets offers customizations as per the company’s specific needs. The following customization options are available for the report: Product Analysis •
Product matrix, which gives a detailed comparison of the product portfolios of key players
Geographic Analysis • • •
Further breakdown of the Rest of Asia Pacific veterinary pain management market into South Korea, Australia, New Zealand, and others Further breakdown of the Rest of Europe (RoE) veterinary pain management market into Belgium, Russia, the Netherlands, Switzerland, and others Further breakdown of the Rest of Latin America(RoLATAM) veterinary pain management market into Argentina, Colombia, Chile, and others
Company Information •
Detailed analysis and profiling of additional market players (Up to 5)