Pet Diabetes Care Devices Market Size
Pet Diabetes Care Devices Market size registered a valuation of more than USD 2 billion in 2022. Driven by notable increase in pet healthcare expense, the sector is expected to develop at over 7% CAGR from 2023 to 2032.
To get key market trends
It is projected that significant increase in pet healthcare spending worldwide will support market development. The general industry picture is improving as the acceptance of pets is expected to raise the expenditure on healthcare demands.
Furthermore, the growing number of diabetes cases—especially among dogs—have raised demand for pet diabetes care products. Pet parenting's growing popularity has inspired owners to invest more in their animals' welfare. This is causing an increase in the diagnosis of pet diabetes, which could develop at any age and hence drive the market over the next years. Furthermore supporting company growth is pet owners' great disposable cash to provide their animals with an organic lifestyle.
| Report Attribute | Details |
|---|---|
| Base Year | 2022 |
| Pet Diabetes Care Devices Market Size in 2022 | 2.46 Billion (USD) |
| Forecast Period | 2023 to 2032 |
| Forecast Period 2023 to 2032 CAGR | 7.3% |
| 2032 Value Projection | 4.99 Billion (USD) |
| Historical Data for | 2018 to 2022 |
| No. of Pages | 140 |
| Tables, Charts & Figures | 248 |
| Segments covered | Device, Animal, End-use, and Region |
| Growth Drivers |
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| Pitfalls & Challenges |
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What are the growth opportunities in this market?
Adverse effects of diabetes drugs may restrain industry progression
One of the main reasons the market share of pet diabetic care devices is being limited by side effects connected with diabetes drugs. The most often occurring side effect of diabetic medicine is hypoglycemia, which can be brought on by an insulin overdose. Moreover, well-known market companies are stressing the creation of creative diabetes care devices, which is negatively influencing their acceptance rate because of strong side effects and thus hindering the industry growth. Still, stepping up R&D initiatives to solve this problem is likely to increase product demand.
Pet Diabetes Care Devices Market Analysis
Learn more about the key segments shaping this market
Regarding devices, the market for pet diabetes care is split between insulin delivery devices and glucose monitoring devices. In 2022, the sector with insulin delivery devices holds over 91.5% market share. Growing technology advancements in insulin delivery devices, such the insulin pen, which allow more exact and accurate insulin dose administration, are driving the segment outreach. Leading rivals in this market have also produced innovative improvements in other insulin devices, which will further speed up the expansion of the sector over the next years.
|
Segment |
Market share (%), 2022 |
|---|---|
| Cats | 41.4% |
| Dogs | 54.6% |
| Horses | 3.9% |
Industry is categorized according to animals like dogs, horses, and cats. Dogs' segment of the pet diabetes care device market is ready to show more than 7.5% CAGR between 2023 and 2032. Considered as humans's best buddies, dogs are also good for human mental and physical health. It has led to growing popularity of dogs as housemates. Therefore, during the study period, increasing pet health costs and demand for pet diabetic care equipment are expected to be caused by surge in pet parenting influence.
Pet diabetes care devices market is divided in terms of end-use into veterinary hospitals, veterinary clinics, and home care environments. By 2032, the segment headed by veterinary hospitals is expected to be valued USD 2 billion. Along with the overall healthcare expenditure, the increasing number of animals requiring emergency treatment at veterinary institutions should affect sector statistics. Moreover, the growing global incidence of pet diabetes has greatly raised the demand for pet diabetic treatment tools in veterinary hospital environments.
Learn more about the key segments shaping this market
By the end of 2032, the European pet diabetes treatment devices market is predicted to generate USD 1.4 billion in income. The growing frequency of pet diabetes in the area is supporting industry growth. Furthermore offering rich prospects for regional market statistics are the growing knowledge about diabetes treatment, strong presence of major industry competitors, more R&D activities for the production of new goods, and growing pet healthcare issues.
Pet Diabetes Care Devices Market Share
- Allison Medical
- Becton
- Boehringer Ingelheim Vetmedica Inc.
- Henry Schein Animal Health
- FitBark
- Merck Animal Health
- TaiDoc
- Ulticare
- Zoetis
- Dickinson
- Company
and Teco Diagnostics are some key participants in the pet diabetes care devices industry. These companies majorly focus on strategic partnerships and collaborations to stay ahead in the competitive landscape.
Impact of COVID-19 Pandemic
The advent of the COVID-19 pandemic had a negative impact on the overall sales of the pet diabetes care devices industry as a result of disruptions in the global supply chain. However, this was largely offset by the rise in demand from pet owners who wanted to stock necessary pet care items, such as diabetic devices. Additionally, since several leading market participants were recognized as crucial service providers, manufacturers were encouraged to continue business as per the pre-pandemic scenario, thereby resulting in a limited impact on industry revenue.
The pet diabetes care devices market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD Million from 2018 to 2032 for the following segments
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By Device
- Glucose Monitoring Devices
- Insulin Delivery Devices
- Insulin delivery pen
- Insulin syringes
By Animal
- Cats
- Dogs
- Horses
By End-use
- Veterinary clinics
- Home care settings
- Veterinary hospitals
The above information is provided for the following regions and countries
- North America
- U.S.
- Canada
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Denmark
- The Netherlands
- Asia Pacific
- Japan
- China
- India
- Australia
- South Korea
- Latin America
- Brazil
- Mexico
- Argentina
- Middle East & Africa
- South Africa
- Saudi Arabia
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