The global veterinary pain management market size is expected to reach USD 2,394.9 million by 2030 according to a new study by Polaris Market Research. The report “Veterinary Pain Management Market Share, Size, Trends, Industry Analysis Report, By Product; By Application; By Animal Type; By End-Use (Veterinary Hospitals, Veterinary Clinics, Pharmacies & Drug Stores) By Region; Segment Forecast, 2022 - 2030” gives a detailed insight into current market dynamics and provides analysis on future market growth.
Growth in the companion animal population and increasing consumption of meat and milk are the major factors driving the veterinary pain management market’s growth. Additionally, factors such as the growing prevalence of diseases and the increasing number of veterinary practitioners in developed economies are supposed to influence the market’s growth over the forecast period.
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One of the main drivers of market expansion is the rising prevalence of acute and chronic diseases in animals worldwide due to numerous reasons. Increasing rates of infectious, deficient, and physiological disorders in animals are having a direct and positive impact on the market's expansion.
The increasing number of veterinary practitioners across developed countries is another reason responsible for growing the market for veterinary pain management. For instance, veterinary practitioners have increased from 13,539 in 2019 to 118,624 in 2020, according to the American Veterinary Medical Association.
Key players in the market are focusing on implementing strategies such as acquisitions, regional expansions, and mergers, new product launches, partnerships, R&D investments, and distribution agreements to increase their revenue and also bolstering the market. For instance, in December 2018, Antelliq was acquired by Merck for improving its animal vaccines and pharmaceutical portfolio.
Veterinary Pain Management Market Report Highlights
Polaris Market Research has segmented the veterinary pain management market report based on product, application, animal type, end-use, and region:
Veterinary Pain Management, Product Outlook (Revenue - USD Million, 2018 - 2030)
Veterinary Pain Management, Application Outlook (Revenue - USD Million, 2018 - 2030)
Veterinary Pain Management, Animal Type Outlook (Revenue - USD Million, 2018 - 2030)
Veterinary Pain Management, End-Use Outlook (Revenue - USD Million, 2018 - 2030)
Veterinary Pain Management, Regional Outlook (Revenue - USD Million, 2018 - 2030)