The new report by Expert Market Research titled, ‘Global Canine Arthritis Treatment Market Growth, Share, Report and Forecast 2023-2028’, gives an in-depth analysis of the global canine arthritis treatment market, assessing the market based on its segments like treatments, routes of administration, distribution channels, and major regions.
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
The key highlights of the report include:
Market Overview (2018-2028)
- Historical Market Size (2022): Nearly USD 2 Billion
- Forecast CAGR (2023-2028): 5%
The canine arthritis treatment industry is being driven by the growing prevalence of osteoarthritis in dogs. The non-steroidal anti-inflammatory medications (NSAIDs) is one of the most common medications involved in the treatment, as it reduces the pain and inflammation in pets.
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Over the forecast period, the growing adoption of pets, which includes dogs and cats, is likely to provide impetus to the market. The increasing adoption of pets can be attributed to the rising demand for companionship and enhanced security. In terms of region, North America is likely to dominate the market owing to the rising pet healthcare infrastructure and technological advancements in veterinary hospitals and clinics. The market in the region is estimated to further be propelled by the rising spending on the wellbeing of pets in the United States and Canada.
Canine Arthritis Treatment Industry Definition and Major Segments
Canine arthritis is a medical condition in which the knee, elbow, spinal cord, and other joints of canines get affected by inflammation. The condition is prevalent among dogs that can be caused due to accidental injuries, obesity, repetitive stress from athletic activities, and improper nutrition. The treatment of canine arthritis involves controlling inflammation, improving quality of life, reducing pain and slowing the development of the disease.
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On the basis of treatment, the market is divided into:
- Non-Steroidal Anti-Inflammatory Medications (NSAIDs)
- Stem Cell Therapy
The major routes of administration of canine arthritis treatment are:
Based on distribution channel, the industry can be segmented into:
- Veterinary Hospitals and Clinics
- Retail Pharmacies
The regional markets for canine arthritis treatment include:
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
Canine Arthritis Treatment Market Trends
Technological advancements in the pet healthcare infrastructure and the development of modern medical equipment are likely to be the key trends in the market. The introduction of anti-inflammatory drugs and the increasing approvals of such drugs by healthcare bodies are anticipated to bolster the treatment of arthritis for canines. The market is projected to further be aided by the growing popularity of online platforms, which is increasing the accessibility to effective canine arthritis. As the COVID-19 pandemic has significantly increased pet adoption, the surged focus on the holistic wellbeing of pets is expected to drive the market growth in the forecast period.
Key Market Players
The major players in the market are Boehringer Ingelheim (Canada) Ltd., Elanco Animal Health Incorporated, American Regent, Inc., and Zoetis Services LLC, among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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