Pet Diabetes Care Market Size
Driven by the rising incidence of pet diabetes caused by obesity worldwide, Pet Diabetes Care Market is expected to see amazing expansion from 2024 to 2032. At any age, diabetes can strike dogs and cats; it is rather common in elderly pets. Based to American Veterinary Medical Association, most diabetic cats are older than six years. Pets with diabetes need lifetime treatment including exercise plans, drugs, special foods, insulin, and other care; this is increasing demand for pet care goods and services.
Pet Diabetes Care Market Trends
New developments in pet diagnostics and drugs are supporting the pet care sector strongly as the trend of pet adoption spreads. According to European Pet Food Federation, 46% of European households—about 90 million—own companion animals, making up half of the population in the continent. About 25% of homes throughout the European Union have a minimum one cat or dog.
Pet Diabetes Care Market Analysis
Based on medication, insulin therapy segment is expected to show significant increase by 2032. Effective management of animals with diabetes is mostly dependent on insulin treatment. It controls blood glucose levels; various varieties of insulin have shown good success in treating diabetic animals. The value of insulin treatment has been strengthened by insulin pens' enhanced dosing precision for low insulin levels.
Driven by their precision, dependability, and efficiency, the pet diabetes care market from glucose monitoring device segment is predicted to hold a substantial market share by 2032. The demand for glucose monitoring devices will be raised by the growing worries about pet health among the pet owners together with the rising disposable income and pet care expenditure all over the world.
By 2032, the section on companion animals will bring in really large industrial profits. Growing numbers of nuclear households and single living are causing periods of loneliness and despair among people all around. Many people are so looking to have companion animals like dogs and cats. Further driving category share are rising expenditures on dog and cat healthcare.
With the largest pet population, high pet care spending, high disposable income, and strong presence of well-known enterprises in the area, the United States held a major share in the worldwide pet diabetes treatment market in 2023. According to American veterinarian Medical Association, households with cats saw mean annual veterinarian visit expenses in the United States rising from USD 189 in 2020 to USD 321 in 2022. Moreover, the existence of encouraging animal welfare laws is enhancing the perspective of the market.
Pet Diabetes Care Market Share
Some of the key industry players include
- Boehringer Ingelheim Vetmedica Inc.
- UltiMed Inc.
- Zoetis
- Merck & Co.
- Becton
- Dickinson and Company
They are working on developing strategies like product launches, mergers, and partnerships for profit and expansion.
Pet Diabetes Care Industry News
- In September 2022, Zoetis Inc. acquired Jurox, an animal health enterprise specializing in the development, production, and distribution of veterinary medications for both livestock and companion animals. This acquisition marks a significant addition to Zoetis's assets, offering a diverse selection of crucial products poised for broader international reach.
What Information does this report contain?
Historical data coverage 2018 to 2023; Growth Projections 2024 to 2032.
Expert analysis industry, governing, innovation and technological trends; factors impacting development; drawbacks, SWOT.
6-7 year performance forecasts major segments covering applications, top products and geographies.
Competitive landscape reporting market leaders and important players, competencies and capacities of these companies in terms of production as well as sustainability and prospects.
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