The global pet diabetes care devices market is on a remarkable growth trajectory, reflecting a burgeoning demand for advanced healthcare solutions for pets. As of 2023, the market is valued at USD 2.3 billion and is projected to nearly double, reaching USD 4.3 billion by 2033. This impressive expansion is driven by a robust Compound Annual Growth Rate (CAGR) of 6.2% throughout the forecast period.
Veterinary clinics are at the forefront of this market expansion, playing a pivotal role in driving the adoption of pet diabetes care devices. Healthcare professionals and animal caretakers within these clinics are increasingly recommending and utilizing these devices to enhance the management of pet health. These advanced devices are critical for detecting, monitoring, and managing common health issues in pets, thereby preventing complications and ensuring better overall care.
The rising awareness among pet owners, coupled with the proactive approach of veterinary clinics, is significantly boosting the adoption of diabetes care devices. By integrating these devices into routine care, pet owners can effectively manage their pets’ health, leading to an improved quality of life for their beloved companions.
Pet diabetes care devices, including insulin pens, glucose monitoring systems, and glucose meters, are designed in various sizes and shapes, featuring advanced functionalities for ease of use. Veterinary clinics not only inform pet owners about their pets’ conditions but also guide them on the benefits and usage of these devices. Additionally, they educate pet owners on the importance of providing nutritious food and regularly monitoring blood glucose levels.
With the number of pets diagnosed with diabetes on the rise, the demand for pet diabetes care devices is surging. Veterinary clinics are instrumental in expanding the market by offering pet owners effective tools to support their pets’ health conditions, providing comprehensive training on the use of these devices, and ensuring regular monitoring at home.
The global pet diabetes care devices market is poised for continued growth as veterinary clinics continue to champion advanced pet health management solutions, empowering pet owners to take charge of their pets’ well-being.
Key Takeaways:
- The pet diabetes care devices market is registering a CAGR of 6.2% with a valuation of USD 4.3 billion by 2033.
- In the historical period, the market captured a CAGR of 5.7%, with a valuation of USD 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.
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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.
Other Essential Players in the Global Market are:
- Abbot Laboratories, Inc
- Virbac
- Medtronic plc
- Johnson & Johnson Services, Inc
- Roche Diagnostics
- Bio-Rad Laboratories, Inc
- Novo Nordisk A/S
- Zoetis Inc
- Terumo Corporation
- Boehringer Ingelheim International GmbH
- IDEXX Laboratories
- Johnson & Johnson Services, Inc
- Terumo Corporation
- Eli Lilly and Company
- Vetoquinol S.A.
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
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