Global Veterinary Pain Management Market to Grow at a CAGR of 6.5% by 2030

Introduction

In animal healthcare, the rising prevalence of chronic illnesses and other inflammatory disorders is a developing issue. Osteoarthritis, joint pain, and cancer-related pain, such as osteosarcoma, are familiar sources of discomfort for animals. Numerous chronic disorders in animals frequently necessitate surgical interventions, followed by postoperative surgical discomfort. This aspect is also anticipated to generate robust demand for pain treatment products. In addition, the increasing actions of the government and other organizations are anticipated to impact the investigated industry favorably. For instance, in 2018, the World Small Animal Veterinary Association (WSAVA) launched a campaign about pain management in companion animals, in which veterinary practitioners will get instruction in line with the forthcoming and best practices of veterinary pain management.

Market Dynamics

Rising Dominance of Painful and Inflammatory Diseases in Animals to Drive the Global Veterinary Pain Management Market

Cancer pain is one of the most prevalent types of pain that animals feel. The increasing prevalence of cancer among animals is anticipated to expand the studied market. According to the American Veterinary Medical Association, about one in four dogs are susceptible to developing cancer. Nearly half of canines older than ten will have cancer.

Animal illnesses contribute to a variety of issues in livestock production systems. These difficulties include, among others, decreased productivity, uncertain food security, and income loss, all of which have a negative impact on human health. FMD is highly contagious among cloven-hoofed animals, such as cattle, pigs, sheep, and goats, as well as numerous species of wild animals. It usually affects animals with cloven hooves, such as cattle, buffalo, camels, sheep, goats, deer, and pigs. Consequently, the abovementioned variables are expected to propel the studied market throughout the forecast year.

Rise in Awareness about Animal Health and Welfare to Provide Opportunities for the Global Veterinary Pain Management Market

Governments in several regions have increased their efforts to promote animal healthcare, increasing demand for the items. Several of the initiatives responsible for the global expansion of the market are as follows:

Cow Health and Welfare Group (CHAWG) plays a significant role in resolving pertinent cattle health and welfare issues in the United Kingdom. CHAWG is the initial point of contact for research on cattle health and welfare and novel disease threats.

In Australia, the Animal Wellbeing Task Group formulated standards and guidelines for the welfare of cattle and sheep. The national livestock identification system (NLIS) has been developed for cattle. It is an electronic identification system in which each animal is tagged with a radiofrequency identification device.

With the beginning of Animal Pain Awareness Month in September 2020, the International Veterinary Academy of Pain Management (IVAPM) and Zoetis Inc. launched a program to educate veterinarians, pet owners, and other individuals about analyzing and managing animal pain. Thus, the increasing number of activities undertaken by government bodies and industry leaders act as market drivers for veterinary pain management.

Regional Insights

By region, the global veterinary pain management market is segmented into North America, Europe, Asia Pacific, and SAMEA. North America dominated the global veterinary pain management market and is estimated to grow at a CAGR of 6.8% during the forecast period. Due to expanding pet adoption and rising per capita animal healthcare expenditure, it is anticipated that the United States will keep a substantial market share. In addition, the increased incidence of numerous animal diseases and injuries has been highlighted as the primary reason driving market expansion. Citizens of the United States have been more worried about their pets and livestock health as the number of animals they own has increased. According to the American Pet Products Association, pet expenditure is rising in the United States, which may contribute to market growth. According to a report published by the American Veterinary Medical Association, roughly USD 29.3 billion was spent on veterinary care and services in the United States in March 2020. As a result of increased animal health awareness and expenditures, the market is anticipated to experience substantial expansion in the coming years.

Europe is the second largest region. It is anticipated to reach USD 680 million by 2030, registering a CAGR of 6.2%. The expansion of the German market can be ascribed to the expanding number of livestock animals, the increasing popularity of pets, and the introduction of new goods. In addition, according to Destatis, there were around 20,500 farms in Germany as of November 2020. Bavaria has the most number of sheep with 250,600, followed by Baden-Württemberg with 207,600 and Schleswig-Holstein with 190,000 animals. Thus, it is anticipated that the high number of cattle will favor the market. The German animal health division of Boehringer Ingelheim generates innovative ideas, conducts research, and develops specific technology for pet pain remedies. Thus, research efforts, innovation, and new sophisticated veterinary care solutions may stimulate market expansion. Consequently, these variables are anticipated to contribute to market expansion over the forecast period.

The Asia Pacific is the third largest region. Recently, the Chinese market for veterinary pain management has expanded fast and undergone various alterations. Recently, China has witnessed a rise in adopting dogs and cats as pets, as they are the most popular companion animals. In addition, animal welfare and animal rights movements have been developing in China, which is anticipated to boost the market growth. To promote animal welfare in 2019, the World Small Animal Veterinary Association (WSAVA) teamed up with ACTAsia, a non-profit organization that offers veterinary training in China. The partnership promotes the growth of veterinary-related professions in China. Hence, an increased number of animals and a more excellent knowledge of animal health contribute to the growing demand for pain management products for companion animals.

Key Highlights

• The global veterinary pain management market was valued at USD 1280 million in 2021, and it is expected to reach USD 2256 million by 2030, registering a CAGR of 6.5% during the forecast period (2022-2030).

• Based on product, the global veterinary pain management market is segmented into drugs and devices. The drug segment is divided into NSAIDs, anesthetics, opioids, and other drugs. The devices segment is further divided into laser therapy and electromagnetic therapy. The drugs segment accounted for the largest market share and is estimated to grow at a CAGR of 6.6% during the forecast period. Within the drug segment, NSAIDs accounted for the largest market share and is estimated to grow at a CAGR of 6.8% during the forecast period.

• By application, the global veterinary pain management market is segmented into osteoarthritis and joint pain, postoperative pain, cancer, and other applications. The osteoarthritis and joint pain segment accounted for the largest market share and is estimated to grow at a CAGR of 6.6% during the forecast period. 

• By animal type, the global veterinary pain management market is segmented into companion and livestock. The companion segment accounted for the largest market share and is estimated to grow at a CAGR of 6.8% during the forecast period. 

• By end user, the global veterinary pain management market is segmented into hospitals and clinics, retail outlets and others. The hospitals and clinics segment accounted for the largest market share and is estimated to grow at a CAGR of 6.6% during the projected period. 

Competitive Players

Competitive Landscape

Major global veterinary pain management companies are Assisi Animal Health, Boehringer Ingelheim International GmbH, CevaSanteAnimale, Chanelle Veterinary Limited, DechraPharmaceuticals PLC, Elanco Animal Health Incorporated, Norbrook, VetoquinolSA, Zoetis Inc.

Recent Developments

Market News

• July 2022 - Zomedica Corp. (NYSE American: ZOM) ("Zomedica" or "Firm"), a veterinarian health company producing diagnostic and therapeutic solutions for companion animals, said today that it had acquired practically all of Assisi Animal Health LLC's assets ("Assisi").
• September 2022 - Boehringer Ingelheim announced that Cowtribe is the first recipient of investment and non-financial support from the Boehringer Ingelheim Social Engagement (BI SE) initiative. This program aims to close a critical financing gap for social businesses in vulnerable communities.

Segmentation

Market Segmentation

By Product

• Drugs
• NSAIDs
• Anesthetics
• Opioids
• Other Drugs

Devices

• Laser Therapy
• Electromagnetic Therapy

By Application

• Osteoarthritis and Joint Pain
• Postoperative Pain
• Cancer
• Other Applications

By Animal Type

• Companion
• Livestock

By End User

• Hospitals and Clinics
• Retail Outlet and Others

By Region

• North America
• Europe
• Asia Pacific
• SAMEA