Yahoo Finance 
Veterinary Pain Management Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)
The Veterinary Pain management market was valued at USD 1,352. 19 million in 2021 and it is expected to reach USD 1,996. 94 million by 2027 at a CAGR of 6. 61% during the forecast period, 2022-2027.
New York, June 13, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Veterinary Pain Management Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)" - 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. For Instance, 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 an article published by Veterinary Practice News in June 2020, the prevalence of osteoarthritis in dogs was found to be 20%, globally. Similarly, according to an article published by American Animal Health Association in April 2021, approximately 6 million dogs are diagnosed with cancer each year. The Veterinary Cancer Society estimates that 1 in 4 dogs will develop cancer at some point, and nearly 50% of dogs older than 10 will develop some form of cancer.
Furthermore, the rising initiatives by government and other organizations are expected to impact positively on the market studied. For instance, in October 2020, FECAVA launched a campaign titled “FECAVA Basic Practices in Anesthesia and Analgesia"which will include important lectures around Europe in the upcoming years and a series of six ready-to-use, printable posters/infographics regarding anesthesia and pain management in animals.
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
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 therapeutic laser treatment of osteoarthritis (OA) in dogs and cats is 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.
North America Region is Expected to Witness Significant Growth Over the Forecast Period
The United States within North American region is expected to witness significant market growth, owing to factors, like rising pet adoption and the increasing per capita animal healthcare expenditure. Additionally, the rise in the prevalence of various animal diseases and injuries has been identified as the major factor, fueling the market growth. According to the 2019-2020 National Pet Owners Survey, conducted by the American Pet Products Association (APPA), around 67% of the country’s households, or about 84.9 million families, own a pet.
As per a 2019 article published by the University of Illinois Veterinary Teaching Hospital, around 50 dogs are treated at their hospital with osteosarcoma every year, and it is an extremely aggressive malignant bone tumor that typically occurs in weight-bearing limbs. With increased ownership of pets and livestock, the United States citizens have also become more considerate toward the health of these animals. As per the data provided by America Veterinary Medical Association, in March 2020, approximately USD 29.3 billion was spent in the country over veterinary care and services. Thus, with the increased awareness and expenditure regarding animal health, the market is expected to show significant growth in the future.
The rising partnerships/agreements, mergers, and acquisitions between companies are fueling market growth. Moreover, many companies are launching new products in the market. For instance, in 2020, the United States Food & Drug Administration approved Cronus Pharma Specialties’ Carprofen Chewable Tablets (generic version of Rimadyl—Zoetis) for dogs. This nonsteroidal anti-inflammatory drug (NSAID) has been proven safe and effective in relieving pain and inflammation associated with osteoarthritis. Furthermore, it helps control postoperative pain associated with soft tissue and orthopedic surgeries. Hence, owing to the factors mentioned above, along with the rising prevalence of inflammatory diseases in animals, the veterinary pain management market is expected to grow over the forecast period.
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.
Additional Benefits:
The market estimate (ME) sheet in Excel format
3 months of analyst support
Read the full report: https://www.reportlinker.com/p06039498/?utm_source=GNW
About Reportlinker
ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place.
__________________________
CONTACT: Clare: clare@reportlinker.com US: (339)-368-6001 Intl: +1 339-368-6001
