Canine Arthritis Treatment Market Segmentation by Type (Joint Instability, Joint Incongruity, Osteochondrosis, and Others); by Diagnosis (X-ray, Arthroscopy, MRI, and Others); and by Treatment {Joint Supplements, Non-Steroidal Anti-Inflammatory Drugs (NSAIDs), Physiotherapy, Acupuncture, and Surgery} – Global Demand Analysis & Opportunity Outlook 2030
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In 2023, market players might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain.
Controlling Inflation has become the first priority for global economies from last quarter of 2022 and to be followed in 2023. With skewed economic situations, rise in interest rate by governments to control spending and inflation, spiked oil and gas prices, high inflation, geo-political issues including U.S. & China trade war, Russia-Ukraine conflict to intensify the global economic issues.
The interest rates in the U.S. may be less sensitive in 2023 as compared to 2022; sigh of relief for businesses. Positive business sentiments, healthy business balance sheets, growth in construction spending (private construction value in 2022 stood at $1,429.2 billion, 11.7 percent (±1.0 percent) above the $1,279.5 billion spent in 2021, Residential construction in 2022 was $899.1 billion, up by 13.3 percent (±2.1 percent) from $793.7 billion in 2021, non-residential construction touched $530.1 billion, 9.1 percent (±1.0 percent) above the $485.8 billion in 2021.) showcases minimal impact of recession in the country.
Similarly, spiked spending in the European and major Asia economics including, India, China & Japan to showcase less impact on the global demand.
· April 26, 2019: Elanco Animal Health announced its acquisition of Aratana Therapeutics, a pet therapeutics company.
The global canine arthritis treatment market is estimated to garner a considerable revenue by growing at a CAGR of ~5.5% over the forecast period, i.e., 2022–2030. The growth of the market can be attributed to the growing prevalence of arthritis among dogs, especially in the bulkier breeds, such as, German shepherd, bulldog, and golden retrievers. Obesity in pets, along with lack of physical activities, are the major causes for arthritis in canines. The growing trend of keeping pets in the small urban apartments, where they do not get enough space for physical activities, is also one of the major causes for arthritis in dogs. These factors are estimated to drive the market growth. Moreover, rising number of animal NGOs and other volunteer organizations, that work for stray dogs, is estimated to further boost the market growth.
The market is segmented by type into joint instability, joint incongruity, osteochondrosis, and others out of which, the osteochondrosis segment is anticipated to hold the largest share in the market during the forecast period on account of highest prevalence of this disease, as it is most common in dogs above 8 years of age. On the basis of diagnosis, the market is segmented into X-ray, arthroscopy, MRI, and others, out of which, the X-ray segment is expected to garner highest revenue, owing to the ease of getting X-ray imaging of pets, as compared to other methods.CLICK TO DOWNLOAD SAMPLE REPORT
Regionally, the global canine arthritis treatment market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. The market in North America region is estimated to garner largest share over the forecast period on the back of high pet population, in countries, such as the U.S., along with efficient veterinary services for dogs. United States had close to 70 million pet dogs in 2019, which raised the demand for arthritis treatment for canines. Moreover, according to the American Pet Product Association, the national pet products industry exceeded USD 100 billion in 2020. This is anticipated to boost the regional market growth.
The market in the Asia Pacific region is estimated to witness highest CAGR over the forecast period on the back of increasing number of NGOs working for animal welfare, along with increasing population of pets. China has the highest dog population in Asia Pacific region, with over 25 million dogs, followed by Japan with 12 million, Philippines with more than 11.5 million, and India with around 10 million pet dogs, as of 2019. This is estimated to boost the market growth in the region.
The global canine arthritis treatment market is further classified on the basis of region as follows:
Our in-depth analysis of the global canine arthritis treatment market includes the following segments:
Ans: Growing awareness regarding arthritis in dogs is one of the major factors driving the market growth.
Ans: The market is anticipated to attain CAGR of ~5.5% over the forecast period, i.e., 2022-2030.
Ans: Absence of any permanent cure for arthritis is one of the major factors estimated to hamper the market growth.
Ans: The market in the North America will provide the highest growth opportunities for the market during the forecast period on the back of highest number of pet dogs in the region.
Ans: The major players in the market are Boehringer Ingelheim USA Corporation, Norbrook Laboratories Limited, American Regent, Inc., Vetoquinol S.A., Ceva Santé Animale, Elanco Animal Health Inc., Hill's Pet Nutrition, Inc., and others.
Ans: The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.
Ans: The market is segmented by type, diagnosis, treatment, and by region.
Ans: The X-ray segment is anticipated to hold the largest market size over the forecast period on the back of ease of X-ray screening of dogs, as compared to other screening methods.
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