This report aims to provide detailed insights into the global Veterinary Pain Management Market. It provides valuable information on the type, procedure, application, and region in the market. Furthermore, the information for these segments, by region, is also presented in this report. Leading players in the market are profiled to study their product offerings and understand the strategies undertaken by them to be competitive in this market.
Expected Revenue Growth: The veterinary pain management market was valued at USD 1.06 Billion in 2017 and is projected to reach USD 1.66 Billion by 2023, at a CAGR of 8.0% during the forecast period. Market growth can be attributed to 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 rising adoption of pet insurance with growing animal health.
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Key Market Players
The prominent players in the veterinary pain management market are Zoetis (US), Merck Animal Health (US), Elanco (US), Chanelle (Ireland), Boehringer Ingelheim (Germany), Vetoquinol (France), Bayer (Germany), Norbrook (Ireland), Ceva Santé Animale (France), K-Laser (US), Assisi (US), and Dechra Pharmaceuticals (UK). New product launches and acquisitions were the major strategies adopted by these payers to maintain their positions in the veterinary pain management market
Objectives of the Study
- To define, describe, and forecast the global veterinary pain management market on the basis of product, application, animal type, distribution channel, and region
- To provide detailed information about factors influencing market growth (drivers, restraints, opportunities, and industry-specific challenges)
- To strategically analyze micromarkets with respect to the individual growth trends, prospects, and contributions to the overall market
- To analyze market opportunities for stakeholders and provide details of the competitive landscape for key players
- To forecast the size of the market segments in North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa
- To profile key players and comprehensively analyze their market shares and core competencies in the global market
- To track and analyze competitive developments such as partnerships, agreements, & collaborations; mergers & acquisitions; product developments; and geographical expansions in the global market
The veterinary pain management market is projected to reach USD 1.66 Billion by 2023 from USD 1.13 Billion in 2018, at a CAGR of 8.0% during the forecast period. 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. However, increasing pet care costs may be a key restraining factor for the market in the next five years.
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.
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- Healthcare institutions (hospitals, medical schools, and outpatient clinics)
- Market research and consulting firms
- Venture capitalists and investors
- Research & development companies
- Veterinary pain management manufacturers and distributors
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