In 2022, the veterinary pain management industry was worth around USD 1.60 billion, and it is projected to advance at a 7.10% CAGR from 2022 to 2030, hitting USD 2.78 billion by 2030, according to P&S Intelligence.
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This development can be credited to the growing occurrence of musculoskeletal syndromes, including osteoarthritis, in animals, also the increasing acceptance of buddy and livestock animals. Furthermore, the developments in the animal healthcare industry have led to the increasing requirement for veterinary pain management items.
In 2022, the drug category led the product segment, with a veterinary pain management market share of above 88%, credited to the growing utilization of nonsteroidal anti-inflammatory drugs for painkilling resolves in animals.
Thus, NSAIDs are leading the drug category as they are widely utilized in curing osteoarthritis-associated pain and irritation in animals. Furthermore, the key industry players are creating novel NSAIDs in order to reduce the side effects and reactions instigated by the prevailing ones.
In the coming few years, the joint pain category is projected to develop at the highest CAGR, of above 7.6%, mainly because of the growing count of pets, increasing quantity of overweight or obese pets, and rising occurrence of chronic illnesses, including osteoarthritis, in animals.
In the joint pain category, osteoarthritis held the highest revenue share, because of the mounting incidence of this condition, particularly in the dog family. NSAIDs and coxibs are given for mild-to-severe osteoarthritis aching, while nutraceuticals are desirable for moderate osteoarthritis pain. The most-used medicines for joint disorders such as Metacam, Rimadyl, Meloxicam, and Galliprant.
During the forecast period, the growing incidence of animal syndromes that cause pain and irritation is estimated to boost the development of the worldwide veterinary pain management industry. There are numerous inflammatory illnesses in pets, including cryptococcosis, canine distemper, coccidioidomycosis, rabies, neosporosis, and toxoplasmosis, also chronic illnesses, including chronic kidney disease cancer, and arthritis, most of which have pain as a warning sign.
In 2022, North America dominated the industry, with a market share of approximately 42%, and it is further projected to be on the leading spot, rising at a significant CAGR, in the coming few years.
This is mainly because of the rising occurrence of several infections, including those instigated by pests, which are resulting in the usage of animal antibiotics.
Other main boosters are the increasing ownership of friend animals, thriving knowledge regarding animal well-being, and the growing quantity of veterinary clinics in the continent.
Moreover, the existence of all main industry players in the continent will contribute to boosting the industry for veterinary pain management solutions.
Hence, the growing occurrence of musculoskeletal syndromes, including osteoarthritis, in animals, also the increasing acceptance of buddy and livestock animals, are the major factors propelling the veterinary pain management market.
