Rising pet ownership coupled with an increase in expenditure on pet healthcare is a prime trait driving the market growth. Growing obesity and body fat in dogs is directly fueling the demand of canine arthritis. Technological advancement for the treatment of arthritis and other chronic diseases in pets is further fostering market growth. A growing number of veterinary clinics is also fueling the market growth.
As per the latest report added by Value Market Research, the Global Canine Arthritis Market is anticipated to grow with a CAGR of 6.86% from 2023 to 2030.
NON-SURGICAL EMERGES AS THE LEADING TREATMENT TYPE
The non-surgical dominated the treatment type owing to the ability to detect, alleviate and prevent diseases to a certain extent in pets is driving the segment growth. Non-surgical treatment is anticipated to reach USD XX million by the end of 2030.
ANTI-INFLAMMATORY DOMINATED THE DRUG CLASS SEGMENT
Anti-inflammatory led the drug class owing to its ability to control pain and inflammation is fueling the market growth. As per the analysis, the anti-inflammatory drug class is likely to reach USD XX.X million by the end of 2030.
PHARMACIES EMERGE AS LEADING DISTRIBUTION CHANNEL
Pharmacies dominated the distribution channel owing to rising awareness of animal health issues along with the expansion of pharmacies has driven the market growth. Pharmacies are projected to reach USD XX million by the end of 2030. In addition, the ability to deliver various prescription and non-prescription veterinary medicines, pet food, toys, and other accessories at lower prices is projected to fuel the growth pharmacies segment.
VETERINARY CLINIC LED THE END-USER SEGMENT
The veterinary clinic dominated the end-user and is presumed to reach USD XX.X million by the end of 2030. Rising expenditure in pet health care, availability of more medications, and rising awareness among pet owner regarding pet health is again fueling the veterinary clinic segment growth. A growing number of veterinary clinic is presumed to augment market growth in the forecasting period.
NORTH AMERICA HOLDING THE HIGHEST MARKET SHARE IN THE GLOBAL CANINE ARTHRITIS MARKET
North America is dominating the market owing to the growing incidence rate of canine arthritis disease, awareness of canine arthritis treatment, and a growing number of veterinary hospitals is expected to drive the growth of the canine arthritis treatment market in the region.
KEY PLAYERS OF THE CANINE ARTHRITIS MARKET
Major players in the market include B Natural, DVM Pharmaceuticals, K9 Nutra, Liquid Health, Inc., Matsun Nutrition, Synflex America, Inc., and Thorne Research Inc.
As per this study the Global Canine Arthritis Market was valued USD XX MN (by revenue) in 2022 and is anticipated to reach USD XX MN by 2030 with a CAGR of 6.86%.
Canine arthritis is referred to as the tenderness of a joint. It basically occurs in dogs as a result of stress on a joint due to jumping, running, and walking. This process affects the cartilage, which cushions the impact on the joint, to wear away so that the bones are able to rub on each other. This can be very painful. Veterinarians generally refer to this condition as osteoarthritis, it is also called as a degenerative joint disease, which shows that it is due to degeneration of a joint over a long time.
Market Dynamics
Growing number of domestic pets, rising health awareness regarding pets and pet owners are now spending more and more on caring for their pets' health is expected to raise the demand for the market. The advent of various novel therapy and technology in the field of veterinary especially for arthritis is further pushing the growth uphill. However, the high cost associated with the treatment is likely to limit the growth of the market.
This detailed market study is centered on the data obtained from multiple sources and is analyzed using numerous tools including porter's five forces analysis, market attractiveness analysis and value chain analysis. These tools are employed to gain insights of the potential value of the market facilitating the business strategists with the latest growth opportunities. Additionally, these tools also provide a detailed analysis of each application/product segment in the global market of canine arthritis.
Market Segmentation
The broad canine arthritis market has been sub-grouped into treatment type, drug class, distribution channel, and end-user. The report studies these subsets with respect to the geographical segmentation. The strategists can gain a detailed insight and devise appropriate strategies to target specific market. This detail will lead to a focused approach leading to identification of better opportunities.
By Drug Class
- Anti-Inflammatory
- Neutraceutical Supplement
- Others
Regional Analysis
Furthermore, the report comprises of the geographical segmentation which mainly focuses on current and forecast demand for canine arthritis in North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The report further focuses on demand for individual application segments in all the regions.
Global Canine Arthritis Market Share by Region (Representative Graph)
The report also covers detailed competitive landscape including company profiles of key players operating in the global market. The key players in the canine arthritis market include Boehringer Ingelheim, Nutri-Vet LLC, Liquid Health Inc., American Regent Inc., Matsun Nutrition. An in-depth view of the competitive outlook includes future capacities, key mergers & acquisitions, financial overview, partnerships, collaborations, new product launches, new product developments and other developments with information in terms of H.Q.
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