Veterinary Pain Management Market Size, Share, Trends, Growth, Production, Consumption, Revenue, Company Analysis and Forecast 2021-2028

Published Date : Jan 2021 | No. of Pages : 250 Pages | Category : Healthcare

The global Veterinary Pain Management market size is expected to be worth around US$ 2.76 billion by 2028, according to a new report by Vision Research Reports.

The global Veterinary Pain Management market size was valued at US$ 2.15 billion in 2020 and is anticipated to grow at a CAGR of 6.5% during forecast period 2021 to 2028.

Growth Factors

Growing companion adoption and incidence of veterinary diseases is expected to boost the growth. Moreover, increasing income in the developing countries is another growth driver. For instance, according to the American Veterinary Medical Association (AVMA) in 2017, around 46% household had multiple types of pets in U.S.

North America held the dominant share of the veterinary pain management market in 2018, due to the favorable pet insurance policies and strategic initiatives adopted by various companies operating in the region. For instance, in August 2018, Zoetis Inc. acquired Abaxis in a probe to expand its veterinary products portfolio.

Increasing number of veterinary practitioners are anticipated to create growth opportunities in the market. High prevalence of chronic diseases such as cancer, diabetes, and osteoarthritis among others. These factors are projected to propel the market in the forthcoming years.

Report Highlights

Nonsteroidal Anti-inflammatory Drugs (NSAIDs) accounted for the largest market share in terms of revenue in 2020 and is expected to expand at a lucrative CAGR over the forecast period. These are the most commonly used medications for pain and inflammation associated with osteoarthritis. Companies are trying to develop new NSAIDs with lesser adverse effects and reactions. For instance, Elanco Animal Health launched Galliprant in 2017 which accounted for around 12% of the U.S. NSAIDs market share in that year. Moreover, stringent regulations pertaining to opioid usage are expected to drive the segment growth in the coming five years.

Anesthetics segment is anticipated to experience steady growth over the forecast period. These products are used during surgeries and to reduce the post-operative ache. According to an APPA report, around 20.8 million dogs in the U.S. went through surgery in 2016 and among them 5.8 million had very painful surgery. In a recent development, Aratana Therapeutics got FDA approval for Nocita in 2016 and it is indicated for post-operative surgeries.

On the other hand, opioids segment is expected to showcase gradual growth over the forecast period, owing to stringent regulations. The market is strictly regulated by the FDA and the updated guidelines regarding manufacture, storage, and sell of opioid products; aiming to curtail the opioid abuse by pet owners for personal use. This factor is expected to restraint growth of this segment in the forthcoming years.

Osteoarthritis (OA) segment accounted for the largest market share in terms of revenue in 2020, owing to high prevalence of the disease; especially in canine animals. In 2015, 14.7 million dogs were diagnosed with osteoarthritis in U.S. Nutraceuticals are preferred for mild and NSAIDs, coxibs are prescribed for moderate to severe pain associated with OA. The prescribed drugs for the disease are Galliprant, Rimadyl, Meloxicam, and Metacam among others.

Livestock animal segment accounted for the largest market share in terms of revenue in 2018, owing to increasing incidence of chronic diseases, awareness amongst animal healthcare organizations, and high animal healthcare spending in developing countries. It is difficult to assess pain in livestock animals and the visible symptoms are lameness, increased respiratory rate and increased vocalization, expiratory grunt, and teeth grinding. The most commonly used medication are NSAIDS, α2 adrenergic drugs, and local anesthetics.

Companion animal segment is expected to exhibit steady growth during the forecast period owing to increase in their ownership, awareness, and demand for efficient animal care. Moreover, increasing incidence of obesity and other chronic conditions, such as osteoarthritis, and cancer, is further propelling the market. According to an Animal Care Foundation report, 32 million cats and 65 million dogs in the U.S. were diagnosed with cancer in 2017. This reason is expected to boost the market growth in the near future.

The others segment includes research centers, emergency facilities, and various animal care centers. This segment is expected to witness lucrative growth over the forecast period owing to the technologically advanced systems used within these facilities. Some of these include pet owner mobile technology and efficient information management systems. The lucrative CAGR can also be attributed to increasing R&D investments and funding to develop advanced treatment options. Investments to enhance diagnostic procedures through development of new generation technologies for diagnosis in companion animals are also expected to bode well for segment growth over the forecast period.

Key Players

Boehringer Ingelheim GmbH, Bayer AG, Zoetis, Merck and others. Some new players include Elanco, Aratana Therapeutics, and Norbrook among others.

Market Segmentation

  • Product Outlook

    • NSAIDs

    • Anesthetics

    • Opioids

    • Others

  • Indication Outlook

    • Osteoarthritis

    • Post-operative pain

    • Others

  • Animal Type Outlook 

    • Livestock animal

    • Companion Animal

  • End-Use Outlook 

    • Hospitals & Clinics

    • Others

  • Regional Outlook

    • North America

      • The U.S.

      • Canada

    • Europe

      • The U.K.

      • Germany

      • France

      • Italy

      • Spain

    • Asia Pacific

      • Japan

      • China

      • India

    • Latin America

      • Brazil

      • Mexico

    • Middle East & Africa

      • South Africa

The Veterinary Pain Management 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 Veterinary Pain Management 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 Veterinary Pain Management market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Veterinary Pain Management market development in United States, Europe and China.

It is pertinent to consider that in a volatile global economy, we haven’t just conducted Veterinary Pain Management 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 Veterinary Pain Management 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 Veterinary Pain Management 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 Veterinary Pain Management 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 Veterinary Pain Management market companies.

Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of Veterinary Pain Management 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 Veterinary Pain Management 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 Veterinary Pain Management 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 Veterinary Pain Management 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 Veterinary Pain Management 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 Veterinary Pain Management market. These factors have benefited the growth of the global market for Veterinary Pain Management. 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 Veterinary Pain Management. 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 Veterinary Pain Management are as follows:

  • Historic Year: 2017-2020
  • Base Year: 2020
  • Forecast Year 2021 to 2028

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

Research Methodology:

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

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.

Primary Sources

 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:

  • To analyze and study the global market capacity, production, value, consumption, status (2017-2020) and forecast (2021-2028);
  • Focuses on the key manufacturers, to study the capacity, production, value, market share and development plans in future.
  • Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
  • To define, describe and forecast the market by type, application and region.
  • To analyze the global and key regions market potential and advantage, opportunity and challenge, restraints and risks.
  • To identify significant trends and factors driving or inhibiting the market growth.
  • To analyze the opportunities in the market for stakeholders by identifying the high growth segments.
  • To strategically analyze each submarket with respect to individual growth trend and their contribution to the market
  • To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market

To strategically profile the key players and comprehensively analyze their growth strategies.

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