In-Depth Exploration of the Companion Animal Arthritis Market: Enriching Industry Understanding, Envisioning Trends, Evaluating Growth Catalysts, and Forecasting Advancements from 2023 to 2031.
Report Ocean has recently released a comprehensive research report on the global Companion Animal Arthritis Market. The report offers a detailed analysis of various market characteristics, such as size, growth, segmentation, regional and country breakdowns, competitive environment, market shares, trends, and strategies. It also provides insights into the impact of the COVID-19 pandemic on the market.
What is the value of the Global Companion Animal Arthritis Market?
Global Companion Animal Arthritis Market is valued approximately USD 2.9 billion in 2021 and is anticipated to grow with a healthy growth rate of more than 6.8 % over the forecast period 2022-2028.
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What are Companion Animal Arthritis and their primary function?
Osteoarthritis (OA) is a prevalent disease in dogs and cats. It is classified as a low-grade inflammatory, degenerative joint condition. Some of the important reasons driving the market include the expanding companion animal population, the rising incidence of arthritis, rising risk factors for the illness, supporting awareness campaigns undertaken by governments, and tactics implemented by prominent firms. For example, the American Veterinary Medical Association announced in November 2021 that the companion animal population had expanded considerably between 2016 and 2020. According to the report, the dog population in the United States was expected to be 76.8 million in 2016, with a projected growth to 83.7 million by 2020. Cat population climbed from 58.4 million in 2016 to 60 million in 2020. This is predicted to help the industry flourish. The rising acceptance of pet insurance, higher animal healthcare spending, R&D investments by leading firms, post-pandemic return to normalcy, and the expansion of drug products are some of the key drivers driving market development.
According to the Insurance Information Institute, Inc., pet care spending will increase from USD 53.3 in 2012 to USD 123.6 in 2021. In a year, almost USD 1,480 is spent per dog and USD 943 is spent every cat. Similarly, according to FEDIAF, roughly 21.8 billion euros will be spent in Europe in 2020 on pet food and 21.2 billion euros on other pet-related services and goods. These positive characteristics are assisting the market’s expansion. However, lack of awareness impedes market expansion throughout the projection period of 2022-2028.
The key regions considered for the Global Companion Animal Arthritis Market study includes Asia Pacific, North America, Europe, Latin America, and Rest of the World. North America emerged as the market leader. This is attributable to major players’ considerable presence, the implementation of numerous initiatives begun by key corporations to improve market penetration, rising treatment availability, rising diagnostic rates, and expanding pet population and spending. Another factor projected to drive market expansion is the increasing number of veterinary clinics in the nations having licensed and qualified veterinarians. The Asia Pacific area is expected to grow at the fastest CAGR over the projection period. This is due to rising animal healthcare expenditure and disposable income in important markets, as well as increased illness awareness in emerging nations. Growing need for thorough and fast diagnosis of companion animal arthritis in emerging nations such as India is driving market expansion.
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Major market players included in this report are:
- Zoetis
- Virbac
- Elanco
- Boehringer Ingelheim International GmbH
- Ceva
- Dechra Pharmaceuticals PLC.
- Vetoquinol
- NexGen Pharmaceuticals
- Norbrook
- Eltech K-Laser s.r.l.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players.
The detailed segments and sub-segment of the market are explained below:
By Animal Type:
Dogs
Cats
Others
By Indication:
Osteoarthritis
Other Arthritis
By Treatment:
Medication
Supplements
Other Treatment
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By Distribution Channel:
Veterinary Hospitals & Clinics
Retail Pharmacies
Online Stores
Others
By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World
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This report covers several key questions related to the global Companion Animal Arthritis market, including:
- What can be expected for the Companion Animal Arthritis market in the next decade?
- What are the primary drivers of growth in the global Companion Animal Arthritis market?
- Which technologies are likely to experience the most rapid growth, both by market and region?
- How do opportunities within the Companion Animal Arthritis market vary based on the size of the end market?
- What is the breakdown of Companion Animal Arthritis by type and application?
- How have recent events such as the COVID-19 pandemic and the Russia-Ukraine conflict impacted the Companion Animal Arthritis market?
The Key Points Covered in the Table of Contents:
Overview: This section provides a concise summary of the report, offering a high-level understanding of the global Companion Animal Arthritis Market. It serves as an introduction, providing insights into the nature and contents of the research study.
Market Analysis: The research study accurately and reliably forecasts the market share of key segments within the Companion Animal Arthritis Market. This analysis enables industry participants to make strategic investments in the significant growth areas of the Food Container Market.
Analysis of Leading Players’ Strategies: Market participants can utilize this report to gain a competitive advantage over their rivals in the Companion Animal Arthritis Market. It offers an in-depth analysis of the strategies employed by leading players, enabling others to develop effective strategies and stay ahead in the market.
Regional Growth Analysis: The report covers all major regions and countries relevant to the Companion Animal Arthritis Market. The regional analysis facilitates market players in identifying untapped regional markets, devising unique regional strategies, and comparing the growth patterns across different regions.
Market Forecasts: Purchasers of this report gain access to precise and validated estimations of the overall market size in terms of both value and volume. The study also includes comprehensive forecasts for consumption, production, sales, and other pertinent factors related to the Companion Animal Arthritis Market.
Our Companion Animal Arthritis Market Report is a comprehensive analysis of the market, providing valuable insights for businesses looking to invest in this industry.
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