In 2022, the Canine Arthritis Treatment Market will have a net worth of US$ 2.39 billion. By 2028, the market for pharmaceuticals used to treat canine arthritis is expected to be worth US$ 3.05 billion, growing at a CAGR of 4.2%.
Canine arthritis is a degenerative joint disease caused by frequent rubbing, cartilage degradation, and long-term joint disease. In animals, the most commonly affected joints are the knees, elbows, shoulders, hips, and spinal cord. Canine arthritis is caused by a variety of factors, including injuries, obesity, and faulty bone formation.
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The key factors driving the growth of the global canine arthritis treatment market are an increase in dog ownership around the world, developing veterinary healthcare infrastructure, and rising treatment options for canine arthritis.
According to Future Market Insights, the global canine arthritis treatment market is expected to grow significantly during the forecast period, owing to the rising prevalence of obesity-induced arthritis in dogs and increased awareness about companion animal health. Furthermore, the FDA’s ease of approval for novel and innovative canine arthritis treatment drugs will create growth opportunities for market participants.
The global canine arthritis treatment market valued in 2019 is estimated at ~ US$ 1.9 Billion, and is expected to increase at a CAGR of ~ 4% during the forecast period of 2019-2029.
Key Takeaways from Canine Arthritis Treatment Market Study:
- Nonsteroidal anti-inflammatory medications are a veterinarian’s first choice for treating inflammation and pain. These medications have been shown to alleviate tingling, allergic reactions, swelling, and pain. In contrast to non-approved NSAIDs, canine approved nonsteroidal anti-inflammatory medications have demonstrated an acceptable safety profile.
- Growth prospects for the canine arthritis market in North America are relatively high when compared to other regions, owing to an increase in canine adoption, increased veterinary expenditure on their health, and increased pet health awareness.
- Market participants have remained focused on capitalising on veterinary hospitals and clinics, which provide comprehensive animal care and service support for improved pet health.
- Oral formulations of major non-steroidal anti corticosteroids medications will continue to account for major share of the manufacturers’ bottom lines, in the view of increasing demand for their ease of administration and better animal compliance.
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Robust Clinical Development Pipeline to Dictate Stakeholders’ Strategies
Elanco, Ceva Sante Animale, Boehringer Ingelheim are among the leading players in the canine arthritis treatment market. These manufacturers continue to dominate the market landscape of canine arthritis treatment by ensuring product availability, collaborating with the local distributors, strengthening manufacturing facilities, and strategizing R&D for diversification of product portfolio.
Key Companies Profiled:
- Boehringer Ingelheim International GmbH.
- DAIICHI SANKYO COMPANY, LIMITED
- Thorne
- NUTRI-VET
- American Regent, Inc.
- DSM
- Zoetis
- National hog farmer
- Novasep
- Bayer AG
- Matsun Nutrition
What did Analysts Uncover during the Study?
A comprehensive view of the canine arthritis treatment market has led our analysts to conclude that, the market is growing at an impressive rate, with North America and Europe holding a large share of the global canine arthritis treatment market. Increase in the pet adoption rate in developed economies, increase in the disposable expense on the companion animals, and rise in awareness regarding pet health are anticipated to propel the market growth.
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Key Segments Of Canine Arthritis Treatment Industry Survey:
Canine Arthritis Treatment Market by Treatment:
- Non-steroidal Anti-inflammatory Drugs (NSAIDs)
- Opioids
- Stem Cell Therapy
- Allogeneic Stem Cells
- Autologous Stem Cells
Canine Arthritis Treatment Market by Route of Administration:
- Oral Canine Arthritis Treatment
- Injectable Canine Arthritis Treatment
Canine Arthritis Treatment Market by Distribution Channel:
- Veterinary Hospitals & Clinics
- Retail Pharmacies
- Drug Stores
- e-Commerce
Canine Arthritis Treatment Market by Region:
- North America Canine Arthritis Treatment Market
- Latin America Canine Arthritis Treatment Market
- Europe Canine Arthritis Treatment Market
- East Asia Canine Arthritis Treatment Market
- South Asia & Pacific Canine Arthritis Treatment Market
- Middle East & Africa (MEA) Canine Arthritis Treatment Market
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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