The pet diabetes care devices market share is expected to grow from its estimated US$ 2.3 billion in 2023 to US$ 4.3 billion by 2033. The market is expected to develop at a compound annual growth rate (CAGR) of 6.2% over the course of the forecast period.
The need for cutting-edge diabetic care equipment for pets is growing as awareness of pet health and wellbeing rises. In order to maintain the health and quality of life of companion animals with diabetes, these devices are essential for monitoring and managing the condition. The market’s positive prognosis shows a shared dedication to offering efficient and specialised pet healthcare solutions, signifying a major advancement in the field of veterinary care.
How are Veterinary Clinics Growing the Market Growth?
Veterinary clinics play a vital role in upsurging the global market during the forecast period. Healthcare professionals and animal caretakers in veterinary clinics are promoting pet diabetes care devices for better pet care. These devices detect pet healthcare by monitoring and managing common health issues to prevent complications.
Pet diabetes care devices include insulin pens, glucose monitoring systems, and glucose meters. These pet diabetes are designed with different sizes and shapes and add an advanced feature to access easily. Veterinary clinics inform pet owners about pet conditions and guide them about the devices and their benefits. They educate pet owners to provide better nutritious food and monitor blood glucose.
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Veterinary clinics provide pet diabetes care devices to their clients to monitor their pets regularly at home. They also provide training on the uses of these devices with comprehensive care. Pets diagnosed with diabetes are continuously rising, and are surging the demand for pet diabetes care devices. Veterinary clinics play a key role in expanding the market by offering pet owners a better tool to support their pets’ health conditions.
Key Takeaways:
- The pet diabetes care devices market is registering a CAGR of 6.2% with a valuation of US$ 4.3 billion by 2033.
- In the historical period, the market captured a CAGR of 5.7%, with a valuation of US$ 1.7 billion in 2018.
- The United States is a prominent leader in the global market, registering a share of 27% during the forecast period.
- China is one of the significant countries in the Asia Pacific that securing a CAGR of 8.20% by 2033.
- During the forecast period, India is registering a CAGR of 7.50% in the global market.
How Key Players are Focus on Adding Values in the Global Market?
Key players are focusing on innovating pet diabetes care devices by adding advanced features resulting in accuracy, convenience, and ease to use. The key players are deploying small sensors in these devices to monitor pets’ health conditions, such as blood glucose levels. These devices work on a real-time basis as pet owners track the condition of their pets and provide them with healthy nutrition with a proper dietary plan.
The key players developing specially design insulin syringes to provide more accurate information than other devices. These devices provide quick results, increasing the adoption of pet healthcare to treat pets’ poor health conditions. Conversely, guiding pet owners, growing awareness, and innovating easy-to-access pet care devices improve pet health.
Recent Developments in the Global Pet Diabetes Care Devices Market are:
- In September 2021, Zoetis Inc launched its new product VETSCAN IMAGYST. This device offers to monitor pets’ diabetes and health conditions.
- In July 2021, Merck Animal Health launched Vetsulin to manage pets’ diabetes.
- In 2020, IDEXX Laboratories announced its new product device IDEXX SDMA Test to identify kidney disease in cats and dogs and also the complication of diabetes.
- In 2019, Vetoquinol announced its acquisition with Epitopix to provide vaccination for diabetes-diagnosed pets.
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Pet Diabetes Care Devices Market by Category
By Animal Type:
- Cats
- Dogs
- Horses
By Device:
- Insulin Delivery Devices
- Insulin Delivery Pen
- Insulin Syringes
- Glucose Monitoring Devices
By End User:
- Veterinary Clinics
- Home Care Settings
- Veterinary Hospitals
Region:
- North America
- Europe
- Latin America
- Asia Pacific
- The Middle East and Africa
Author By:
Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.
Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.
Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.
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