Canine Arthritis Treatment Market – Industry Analysis, Size, Share, Growth, Trends and Forecast 2018 – 2027
As per the research conducted by Fast. MR, the report titled “Canine Arthritis Treatment Market by Treatment Type (Non-steroidal anti-inflammatory Medications (NSAIDs), Opioids and Stem Cell Therapy), By Route of Administration (Oral, and Injectables), By Distribution Channel (Veterinary Hospitals and Clinics, Retail Pharmacies and Online Pharmacies) and By Region (North America, Europe, Asia Pacific, Latin America, Middle East and Africa) – Global Market Size, Development, Growth and Demand Forecast, 2018-2027” provides current as well as future analysis of the market by evaluating the major applications, advantages, trends, and challenges. The report dives deeper to produce useful insights into Canine Arthritis Treatment Market such as major global regions and key competitors and strategies that can be used for the entry-level player too.
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Canine arthritis is a result of inflammation of the joints, ligament damage, abnormal cartilage development, or damage caused by trauma in dogs. Usually arthritis problem associated with older dogs, however it may occur at early age of dogs, who are facing bone and joint development problem. Arthritis symptoms include stiffness, lameness, or limping after rest; appetite loss or unusual weight gain; inactivity and sleeping more; reluctance to walk, run or climb stairs; unusual urinating in the house; and irritability and other behavioural changes. Since past, According to the American Pet Products Association (APPA), the adoption of pet animal has been increased at a significant rate, about 68% of U.S. households own at least one pet, which adds up to 60.2 Mn dogs and 47.1 Mn dogs, among other animals. Hence, there is a push to increase the standard of living for pets, including higher quality veterinary products. Further, in 2018, US$72.56 Bn was spent on pets, out of which US$ 33.5 Bn was spent for over-the-counter (OTC) medicine in the U.S. Thus, rising companion animal ownership with increase in spending for pet health is creating a growing demand for canine arthritis drugs.
Rising preference of gynaecologist for genetic testing during pregnancy is expected to propel the canine arthritis treatment market growth.
Significant increase in veterinary therapeutic drugs and veterinary regenerative medicines approvals by FDA to repair damaged organs and tissues in animals is expected to drive the canine arthritis treatment market growth. For instance, in November 2018, Chanelle launched Osteopen (pentosan polysulphate sodium) in the UK and Irish markets. Osteopenia is a semi-synthetic polymer with anti-inflammatory properties and capable of modifying the metabolism of the joint structures, which in turn helps to regenerate damaged joint components and reduces the pain.
Furthermore, increase in prevalence of osteoarthritis in dogs will expected to create a demand for canine arthritis drugs market in near future. According to Veterinary Science Development news, one in four of 77.2 million pet dogs in the U.S. are diagnosed with some form of arthritis.
However, certain risks associated with canine arthritis treatment and lack of awareness may restrain the canine arthritis treatment market growth to some extent.
Canine Arthritis Treatment Market Regional Analysis
On the basis of region, North America is gaining significant traction in the canine arthritis treatment market. This is attributed to increase in consumer spending on pet and easy accessibility of treatment and diagnostic methods. There are about 26,000 small animal veterinary practices in the U.S., according to American Animal Hospital Association (AAHA) and the American Veterinary Medical Association (AVMA) which result in a significant increase in veterinary economy the country.
Europe also contribute noteworthy growth in canine arthritis treatment market owing to launch of new treatment by various pharmaceutical companies for canine arthritis. For instance, on March 2019, Medrego, the manufacturer of veterinary regenerative medicine in Northern Europe has launched new Stem Cell Therapy product-CaniCell which has shown tremendous effects on managing osteoarthritis and other degenerative diseases in dogs.
Key players operating in the canine arthritis treatment markets include, Eli Lilly and Company, Boehringer Ingelheim, Chanelle, Zoetis Inc., Medrego, Vetoquinol S.A., Bayer AG, Aratana Therapeutics Inc., Norbrook Laboratories Limited, VetStem Biopharma, and Dechra Pharmaceuticals Plc, and others.
Canine Arthritis Treatment Market-Taxonomy
By Treatment Type
-Non-steroidal anti-inflammatory medications (NSAIDs)
-Stem Cell Therapy
By Route of Administration
By Distribution Channel
-Veterinary Hospitals and Clinics
-Middle East and Africa
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