The global Companion Animal Postoperative Pain Management Therapeutics market size is expected to be worth around US$ 400.36 million by 2028, according to a new report by Vision Research Reports.
The global Companion Animal Postoperative Pain Management Therapeutics market size was valued at US$ 230.90 million in 2020 and is anticipated to grow at a CAGR of 7.01% during forecast period 2021 to 2028.
Increasing number of surgeries in companion animals is driving the demand for postoperative pain management drugs.
Increasing companion healthcare expenditure and concerns among pet owners is further propelling the market growth. According to The American Pet Products Association report 2018, the overall spending in U.S. pet industry has increased by 4.1 % from 2016 to 2017. Moreover, veterinary care spending has increased by 7% from USD 15.95 billion in 2016 to USD 17.07 billion in 2017.
Significant rise in animal insurance policies helps pet owners take proper care of their pets. For instance, in 2017, around 57,000 pet insurance claims were reported for chronic diseases such as arthritis in pets in U.S. According to a report by the Department of Clinical Veterinary Science and the Pet Food Institute, around 23% companion animals in U.K. and 30% in Sweden were covered under insurance by 2017.
The NSAIDs segment dominated the market in 2020 with over 45.02% revenue share owing to easy product availability. These drugs are mostly used for controlling inflammation and pain after surgery. The NSAIDs are comparatively cheaper as compared to opioids and anesthetics which is, therefore, boosting its revenue. Some of the most commonly used NSAIDs for postoperative pain are Rimadyl (Injectable), Metacam, Deramaxx, and Previcox. The market players are trying to develop innovative NSAIDs for peri-operative pain management. In May 2016, Elanco received approval for Onsior for the management of postoperative pain related to soft tissue surgery in dogs.
The anesthetics segment is expected to showcase steady growth over the forecast period. Lidocaine and bupivacaine are commonly used anesthetics. According to an AVMA report, around 5 million dogs suffered from postoperative pain in 2016. The demand for control-release or long-acting local anesthetics products is increasing as pet owners prefer to take their pets back home after surgery. In 2016, Aratana Therapeutics launched Nocita for postoperative pain, capable of controlling pain for up to 72 hours.
Canine accounted for the largest market share in 2020 owing to the increased number of surgeries. Increasing the incidence of chronic diseases in dogs is one of the major growth drivers. Dental, hip dysplasia, cataract, wound repair, and neutering is some of the most common surgeries performed on dogs and all of these require postoperative care. Furthermore, increasing adoption of dogs as companion animals among households in developed and developing countries is expected to further propel the growth.
The feline segment is anticipated to expand at a steady CAGR throughout the forecast period. The steady rate can be attributed to increasing concern among cat owners regarding postoperative pain management among their companion animals. The rise in surgeries performed on cats is another major growth driver for the segment. UTI and bladder stones, kidney diseases, dental and eye problems, and ear infections are some of the most common diseases in cats. Increased adoption of cats in European and Asian countries is propelling growth. For instance, in 2020, the feline population of Europe was 102.69 million whereas the canine population was 84.91 million. The availability of favorable insurance policies is projected to further boost the segment growth.
North America accounted for the largest market share in terms of revenue in 2020. Rising government initiatives coupled with favorable healthcare structure in the region is expected to drive the growth. Rising pet ownership coupled with increasing demand for effective animal care is expected to create revenue generation opportunities in the region. Rising incidence of chronic diseases in pets is expected to further boost the demand for companion animal postoperative pain management therapeutics. An increasing number of veterinary surgeries, especially orthopedic and dental, is further propelling the market growth. According to the APPA report, Americans spent around USD 18.11 billion on veterinary care in 2020. Moreover, the presence of major industry players, such as Zoetis, Elanco, and Merck is boosting this regional growth.
Zoetis; Bayer AG; Elanco; Ceva; Norbrook
Animal Type Outlook
Middle East & Africa
The Companion Animal Postoperative Pain Management Therapeutics market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.
The report provides size (in terms of volume and value) of Companion Animal Postoperative Pain Management Therapeutics market for the base year 2020 and the forecast between 2021 and 2028. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.
This report focuses on the global Companion Animal Postoperative Pain Management Therapeutics market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Companion Animal Postoperative Pain Management Therapeutics market development in United States, Europe and China.
It is pertinent to consider that in a volatile global economy, we haven’t just conducted Companion Animal Postoperative Pain Management Therapeutics market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.
In terms of production side, this report researches the Companion Animal Postoperative Pain Management Therapeutics capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.
In terms of consumption side, this report focuses on the consumption of Companion Animal Postoperative Pain Management Therapeutics by regions (countries) and application.
Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global Companion Animal Postoperative Pain Management Therapeutics market. These figures have been provided in terms of both revenue and volume for the period 2017 to 2028. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.
With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major Companion Animal Postoperative Pain Management Therapeutics market companies.
Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of Companion Animal Postoperative Pain Management Therapeutics market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.
The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.
Overall, this is an in-depth research report specifically for the Companion Animal Postoperative Pain Management Therapeutics industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.
The Companion Animal Postoperative Pain Management Therapeutics market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to Companion Animal Postoperative Pain Management Therapeutics market.
Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of Companion Animal Postoperative Pain Management Therapeutics market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.
Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new Companion Animal Postoperative Pain Management Therapeutics market. These factors have benefited the growth of the global market for Companion Animal Postoperative Pain Management Therapeutics. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.
New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for Companion Animal Postoperative Pain Management Therapeutics. The global market is segmented on the basis of region, application, en-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).
In this study, the years considered to estimate the market size of Companion Animal Postoperative Pain Management Therapeutics are as follows:
Reasons to Purchase this Report:
- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.
This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.
Market Size Estimation
Top-down and bottom-up approaches are used to estimate and validate the global market size for company, regional division, product type and application (end users).
The market estimations in this report are based on the selling price (excluding any discounts provided by the manufacturer, distributor, wholesaler or traders). Market share analysis, assigned to each of the segments and regions are achieved through product utilization rate and average selling price.
Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.
All possible factors that influence the markets included in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. The market size for top-level markets and sub-segments is normalized, and the effect of inflation, economic downturns, and regulatory & policy changes or others factors are accounted for in the market forecast. This data is combined and added with detailed inputs and analysis from Vision Research Reports and presented in this report.
Market Breakdown and Data Triangulation
After complete market engineering with calculations for market statistics; market size estimations; market forecasting; market breakdown; and data triangulation. Extensive primary research was conducted to gather information and verify and validate the critical numbers arrived at. In the complete market engineering process, both top-down and bottom-up approaches were extensively used, along with several data triangulation methods, to perform market estimation and market forecasting for the overall market segments and sub-segments listed in this report.
Secondary Sources occupies approximately 25% of data sources, such as press releases, annual reports, Non-Profit organizations, industry associations, governmental agencies and customs data, and so on. This research study includes secondary sources; directories; databases such as Bloomberg Business, Wind Info, Hoovers, Factiva (Dow Jones & Company), TRADING ECONOMICS, and avention; Investing News Network; statista; Federal Reserve Economic Data; annual reports; investor presentations; and SEC filings of companies.
In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. The primary sources from the supply side include product manufacturers (and their competitors), opinion leaders, industry experts, research institutions, distributors, dealer and traders, as well as the raw materials suppliers and producers, etc.
The primary sources from the demand side include industry experts such as business leaders, marketing and sales directors, technology and innovation directors, supply chain executive, end users (product buyers), and related key executives from various key companies and organizations operating in the global market.
The study objectives of this report are:
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