Veterinary Pain Management Market worth $2.5 billion by 2027 - Exclusive Report by MarketsandMarkets™
CHICAGO, Sept. 22, 2022 /PRNewswire/ -- Veterinary Pain Management Market is projected to grow from USD 1.8 billion in 2022 to USD 2.5 billion by 2027, at a CAGR of 6.7% from 2022 to 2027, according to a new report by MarketsandMarkets™. The Pain is the physiological term to describe the chemical processes that are at work in the body that receive a stimulus, modify it, and transfer it to the brain for interpretation and reaction. The stimulus can be physical, temperature, chemical, or inflammatory damage to tissues. In veterinary practices, pain management is achieved through analgesic drugs and devices.
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In this report, the veterinary pain management market has been segmented by product, application, animal type, end user, and region.
"NSAIDs is expected to witness the fastest growth market by drug type during the forecast period."
The veterinary pain management market is segment into NSAIDs, opioids, local anesthetics, alpha-2 agonists, disease-modifying osteoarthritis drugs, and other drugs on the basis of drug type. In 2021, the NSAIDs segment accounted for largest share of the veterinary pain management drugs market. The large share of this segment can be attributed to the widespread adoption of NSAIDs in a wide range of applications due to the low cost of these drugs.
"Oral segment is expected to witness the fastest growth in the forecast period."
The veterinary pain management drugs market is segment into oral, parenteral, and topical on the basis of route of administration. The oral segment accounted for the largest share of the veterinary pain management drugs market by route of administration in 2021. The oral administration segment held the largest share because orally administered drugs are convenient, easy to store, do not require special training, and are affordable.
"Joint pain accounted for the largest share of by veterinary pain management market by application in 2021"
Based on applications, the veterinary pain management market is segmented into joint pain, post-operative pain, cancer, and other applications. The joint pain segment accounted for the largest share of the market in 2021. The large share of this segment can be attributed to the growing geriatric pet population, the growing prevalence of osteoarthritis and musculoskeletal disorders, and the increasing population of obese and overweight pets.
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"Asia Pacific region is expected to witness the fastest growth during the forecast period"
On the basis of region, the veterinary pain management market is segmented into North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa. The Asia Pacific market is estimated to grow at the highest CAGR during the forecast period and countries such as Japan, China, and India are expected to provide significant growth opportunities for market players. These countries have a large livestock population, as well as a growing trend of pet ownership.
Key Market Players:
The prominent players in the veterinary pain management market are Boehringer Ingelheim International GmbH (Germany), Zoetis Inc. (US), Elanco Animal Health Incorporated (US), Merck & Co., Inc. (US), Dechra Pharmaceuticals (UK), Vetoquinol (France), SeQuent Scientific Limited (India), Norbrook Laboratories Limited (Ireland), Ceva Santé Animale (France), Chanelle Pharma (Ireland), and K-Laser USA (US). New product launches and acquisitions were the major strategies adopted by these payers to maintain their positions in the market.
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