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Veterinary Pain Management Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

ReportLinker
·6-min read

The Veterinary Pain management market was valued at USD 1,197 million in 2020, and it is expected to reach USD 1,910 million in 2026, registering a CAGR of nearly 6. 30% during the forecast period.

New York, March 29, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Veterinary Pain Management Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)" - https://www.reportlinker.com/p06039498/?utm_source=GNW

The global outbreak of COVID-19 has impacted all industries including veterinary pain medicine. Pet parents are advised to keep a safe distance from their pets to maintain hygiene and reduce the risk of contamination. The impact has been seen in the livestock sector as well. There has been difficulty in moving animal products, such as meat, milk, and eggs, to markets. The restriction has been implemented on the seasonal border crossing with ruminants. In April 2020, the Food Agriculture Organization published a new policy regarding the production of livestock and the supply chain of livestock products during the COVID 19 pandemic.

Some of the factors driving the Veterinary Pain Management market growth include the high prevalence of inflammatory and painful diseases in the animal population. According to a report published in Nature, in April 2018, the annual period prevalence of osteoarthritis diagnosis in dogs under primary veterinary care in the United Kingdom was estimated to be 2.5%. Similarly, according to the Animal Cancer Foundation, 65 million dogs and 32 million cats in the United States were diagnosed with cancer during the year 2017. Moreover, approximately 6 million new cancer diagnoses are made in pets, each year.

Additionally, as per the results of the 2017-2018 APPA (American Pet Products Association) National Pet Owners Survey, 10% of dogs and 8% each of cats and birds have undergone surgical procedures, for some reason or the other. This indicate that there is a high prevalence of the diseases associated with pain in animals which is a fuelling factor for the market studied.

Furthermore, the rising initiatives by government and other organizations are expected to impact positively on the market studied. For instance, World Small Animal Veterinary Association’s (WSAVA’s), 2018, initiated a campaign related to pain management among companion animals wherein guidance will be provided in accordance with the upcoming and best practices of veterinary pain management to the veterinary professionals.

In addition to the aforementioned factors, the rise in need for easily accessible and affordable treatment procedures and an increase in awareness about animal health and welfare are also expected to propel the growth of the veterinary pain management market over the forecast period.

Key Market Trends
Under Devices Laser Therapy is Expected to Witness a Healthy Growth Over the Forecasted Period

Laser therapy use to chronic as well as acute injuries, arthritis, sprains and strains, swelling due to back disc problems, and muscular-skeletal abnormalities. It also helps to regenerate nerve tissue post surgery.

The COVID-19 pandemic situation has a dramatic effect throughout the world on healthcare systems even on the veterinary healthcare systems. Due to the fear of the virus, many of the people are avoiding visits to veterinary hospitals. Thus, with the reduction of hospital visits, a delay in diagnosis and treatment is expected in the animals, leading to a decline in demand for pain management products.

However, some hospitals and clinics are taking definite measures to avoid transmission of the virus during this pandemic situation. For instance, Prestige Animal Hospitals are taking precautionary measures in the treatment of animals. They have also introduced a "Drop Off Exams" program that allows the owner to drop off the animal for the diagnosis or treatment procedure. The results and treatment plans are then discussed through the phone/mail.

Many of the authorities are recommending to avoid elective surgeries in animals, thus resulting in a decline of the cases of postoperative pains and thereby negatively impacting on the market. For instance, the Centers for Disease Control and Prevention has recommended that veterinary healthcare professionals attend only emergency visits and procedures.

The therapeutic laser treatment of osteoarthritis (OA) in dogs and cats is currently the most common laser therapy. The laser intensity in osteoarthritis (OA) is most appropriate as 8-10 J/cm2. Tendonitis may also be benefitted from laser therapy, due to the inflammation associated with the disease.

There are some laser devices that can be used both for surgical and therapeutic purposes, by controlling the level of emission. Some of the laser therapy brands that are in the market for veterinary pain management include B-Cure Laser, TENDLITE, Lumasoothe, iReliev, Keebomed, MLS Laser Therapy (ASAveterinary), among others.

The market players adopted various strategies such as product launches, collaborations, expansions and merges. For instance in October 2020, Summus Laser introduced ‘’Horizon Veterinary Laser System’’, a Class IV laser therapy system, which has been designed specifically for the veterinary pain management. It is a diode based laser with 28 watt power and has a unique capability of combining 4 different wavelength, which can be controlled independently as well.

Owing to the aforementioned factors, the segment is expected to witness considerable growth over the forecast period.

India to Witness Rapid Growth in Asia-Pacific Region

The large livestock population in India is a major factor contributing to the market growth. According to the National Dairy Development Board, India, the total livestock population in India, as recorded in 2019, is around 536 million.

In India, dring COVID-19 pandemic, in May 2020, the National Dairy Development Board (NDDB) launched an interactive webinar to create awareness about procedures to be followed in the dairy value chain during the pandemic.

In addition, Animal Husbandry Department’s launched a program to safeguard its employees and farmers against the COVID-19. The veterinary hospitals provided services during the COVID-19 pandemic with preventive measures such as provided with gloves, masks, sanitizers, and floor cleaners to maintain the optimal level of hygiene.

Animal husbandry has observed a significant increase over the years, in India. The factors behind the growth of the animal health market are the adoption of innovative technologies that are used to prevent and cure various diseases associated with farm and companion animals. Animal health companies now deal with therapeutics, preventive measures, and productivity enhancement.

Over the past few years, many global animal health companies, such as Ceva and Sanofi, have entered the animal health market in India, owing to large growth opportunities in the country. For example, India has approximately 120 million dairy cows, and hence, is the largest milk producer in the world, having a production capacity almost equivalent to that of the entire European Union. In addition, India is also the fifth-largest producer of chicken meat and a major exporter of beef. Therefore, owing to the rising significance of this country in the international market, it is expected to witness rapid growth.

Competitive Landscape
The Veterinary Pain Management Market is fragmented competitive with the presence of both international and local companies. Some of the market players include Ceva SantE Animale, Elanco Animal Health Incorporated, Zoetis Inc., Vetoquinol SA and Boehringer Ingelheim International Gmbh.

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Read the full report: https://www.reportlinker.com/p06039498/?utm_source=GNW

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