Canine Arthritis Treatment Market to be worth USD 3.05 Bn by 2028, Get Insights FMI
The global Canine Arthritis Treatment Market stands at a net worth of US$ 2.39 Bn in 2022. Worldwide demand for canine arthritis treatment medications is predicted to rise at a CAGR of 4.2% and attain a market valuation of US$ 3.05 Bn by 2028. Canine arthritis treatment medicines accounted for 17.2% share of the global rare inflammatory disease treatment market in 2021.
Canine arthritis is a degenerative joint disease that produces inflammation in the joints of dogs as a result of frequent rubbing, cartilage degradation, and long-term joint disease. The knees, elbows, shoulders, hips, and spinal cord are usually the most affected joints in animals. Injuries, overweight, and faulty bone formation are some of the reasons for canine arthritis in dogs.
A notable increase in dog ownership around the world, developing veterinary healthcare infrastructure and rising treatment options for canine arthritis are the key factors for the growth of the global canine arthritis treatment market.
As per the findings of Future Market Insights, the global canine arthritis treatment market is projected to experience significant growth during the forecast period, due to increasing prevalence of obesity induced arthritis among dogs and rise in awareness about the companion animal health. Moreover, ease in the FDA approval for novel and innovative canine arthritis treatment drugs will create growth opportunities for the market players.
The global canine arthritis treatment market valued in 2019 is estimated at ~ US$ 1.9 Bn, and is expected to increase at a CAGR of ~ 4% during the forecast period of 2019-2029.
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Key Takeaways from Canine Arthritis Treatment Market Study
- Non-steroidal anti-inflammatory medications are referred as a first choice of veterinarian for the treatment of inflammation and pain. These medications are known to have effects, for example, decreasing tingling, allergic reaction, swelling, and pain. Canines approved non-steroidal anti-inflammatory medications have demonstrated acceptable safety profile, which is in contrast to non-approved NSAIDs.
- Growth prospects of the canine arthritis market are relatively high in North America as compared to other regions, attributed to rise in the adoption rate of canines, increasing veterinary expenditure on their health, and greater awareness about the pet health.
- Market players remained focused on capitalizing on veterinary hospitals and clinics, as they provide an entire animal care and service support for better 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.
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 Segments Of Canine Arthritis Treatment Industry Survey
Canine Arthritis Treatment Market by Treatment:
- Non-steroidal Anti-inflammatory Drugs (NSAIDs)
- 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
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
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Table of Content
- Executive Summary
1.1. Market Outlook
1.2. Analysis and Recommendations
- Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
- Market Background
3.1. Macro-Economic Factors
3.1.3. Opportunity Analysis
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