Global “Veterinary Pain Management Market” (2018 – 2023) Report Provides Overall study of Approximate CAGR, Leading Manufacturers, Key Development, Market Dynamics and SWOT analysis for Key Players. The Veterinary Pain Management market is expected to register a CAGR of approximately XX% during the forecast period of (2018 – 2023)
Veterinary Pain Management Market Report Covers Leading Manufacturers: Assisi Animal Health, Boehringer Ingelheim, Ceva, Chanelle Veterinary Limited, Dechra Pharmaceuticals Plc, Elanco, Intervet Inc., Norbrook, Vetoquinol S.A., and Zoetis, among others
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The Veterinary Pain Management Market is expected to register a growth rate of approximately 8.1% during the forecast period, 2018-2023. Veterinary Pain Management refers to a medical approach towards the prevention, diagnosis, and treatment of pain caused by several factors such as physical trauma, internal organ problems, surgical procedures, brain and spine problems, slipped disc, arthritis and joint damage. The market is primarily driven by growth in prevalence of painful and inflammatory diseases in animals, rise in need of easily accessible and affordable treatment procedures, and increase in awareness about animal health and welfare. As per the geographical analysis, North America followed by Europe is expected to dominate the market, while Asia-Pacific is expected to exhibit fastest growth rate owing to the factors such as rise in awareness about pet health and increase in demand of pet insurance coverage.
Rise in Prevalence of Painful and Inflammatory Diseases in Animals to Propel the Veterinary Pain Management Market
High prevalence of inflammatory and painful diseases among the animal population is expected to propel the market growth. 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 UK has been estimated to be 2.5%. Similarly, according to Animal Cancer Foundation, 65 million dogs and 32 million cats in the United States are presently diagnosed with cancer. Out of these, approximately 6 million new cancer diagnoses are made in the pets each year. Additional, as per the results of the 2017-2018 APPA (American Pet Products Association) National Pet Owners Survey, 10% of dogs, and 8% of each of cats and birds have undergone surgical procedures owing to some or the other reasons.
Keeping the fact that excess fat and bodyweight increases load on joint resulting in progression of arthritis in mind, interestingly, according to the results of 2017 Pet Obesity Survey done by the Association for Pet Obesity Prevention (APOP), 56% of dogs have been identified as overweight (body condition score (BCS) 6-7) or obese (BCS 8-9), leading to the conclusion that the prevalence of obesity has been observed to be increased as in 2016, APOP classified 54% of dogs as overweight or obese in the U.S. Hence, rise in prevalence of all the aforementioned factors contributing to severe or mild pain & inflammation in animals is expected to drive the market growth.
Side Effects Associated with the Treatment to Limit Growth of the Veterinary Pain Management Market
The side effects such as diarrhea, stomach and intestinal ulcers, liver and kidney failure, associated with various drugs used to cure pain and inflammation in animals are expected to restrain the market growth. Similarly, according to American Animal Hospital Association (AAHA), pet owners should be careful regarding the side effects of pain-killers on their pets such as blood in stool, depression, restlessness, appetite loss, change in drinking and urinating habits, yellowing of eye, gum or skin, and also redness and itching of skin. As a result of these side effects caused by the drugs used for Veterinary Pain Management treatment, reluctance of pet owners to put their pet animals under medication is expected to restrain the Veterinary Pain Management market. Hence, impeding the market growth.
Asia-Pacific to Show the Fastest Growth in the Veterinary Pain Management Market
Asia-Pacific is expected to demonstrate highest growth rate. The large livestock population in the countries such as India and China is one major factor contributing to this market growth. According to the National Dairy Development Board, India, the total livestock population in India, as recorded in 2012, is around 512 million. In addition, high incidence of joint pain, osteoarthritis, musculoskeletal disorders, cancer in animals, and the increase in awareness about various health issues responsible for pain are the other factors, which are expected to fuel the growth of the Veterinary Pain Management market in the Asia Pacific.
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Reasons to Purchase Veterinary Pain Management Market Report:
- Identification of key factors instrumental in changing the market scenario, exploiting new opportunities, and gaining a competitive edge.
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- The regions that are expected to witness the fastest growth during the forecast period.
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