What is Veterinary Pain Management Market?
The global veterinary pain management market is expected to grow at a rapid pace during the forecast period, according to the AMA study. XXXX are expected to be some of the major factors aiding into the growth for the market. However, the market is expected to witness a decline in the growth during FY 2020 but it is again expected to rise with a healthy pace after the COVID-19 pandemic is over.
Highlights from Veterinary Pain Management Market Study
Attributes | Details |
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Study Period | 2017-2027 |
Base Year | 2021 |
Unit | Value (USD Million) |
Key Companies Profiled | Assisi Animal Health (United States), Bayer (Germany), Boehringer Ingelheim (Germany), Ceva Santé Animale (France), Chanel (France), Dechra Pharmaceuticals (United Kingdom), Elanco Animal Health (United States), K-Laser USA LLC (United States), Merck Animal Health (United States), Norbrook Laboratories (United Kingdom), Vetoquinol (France) and Zoetis (United States) |
The vendors in this market are majorly focusing on developing innovative services in order to cater to the market's demands to remain competitive in the global market. According to the recent global industry crisis due to outbreak of COVID-19 is expected to be one of the major challenges for the vendors of this market as the production and markets of different industries have been shut down for an ambiguous period of time. Research Analyst at AMA predicts that United States Players will contribute to the maximum growth of Global Veterinary Pain Management market throughout the forecasted period.
Assisi Animal Health (United States), Bayer (Germany), Boehringer Ingelheim (Germany), Ceva Santé Animale (France), Chanel (France), Dechra Pharmaceuticals (United Kingdom), Elanco Animal Health (United States), K-Laser USA LLC (United States), Merck Animal Health (United States), Norbrook Laboratories (United Kingdom), Vetoquinol (France) and Zoetis (United States) are some of the key players profiled in the study. Veterinary Pain Management Market Segmentation:
Scope | Sub-Segments |
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Application / End User | Joint Pain {Osteoarthritis, Musculoskeletal Disorders}, Postoperative Pain, Cancer and Others |
Type | Drugs {NSAIDs, Opiods} and Devices {Laser, Electromagnetic} |
End Users | Veterinary Hospitals & Clinics,Pharmacy |
Animal | Companion Animals {Dogs, Cats, Horses, Others},Livestock {Cattle, Swine, Others} |
On the basis of geography, the market of Veterinary Pain Management has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Rising Demand for Pet Insurance
Market Growth Drivers:
Growth in Adoption of Companion Animals and Rising Pet Health Expenditure Across the World
Challenges:
Short-term Challenges due to Reduced Operations Across Different Industries & Economic Crisis caused by COVID-19 Pandemic Across the World
Restraints:
High Cost of Pet Care
Opportunities:
Opportunities in the Untapped Emerging Markets
Stringent Government Regulations Regarding Approval Process for Pain Management Drugs
Analyst Comment
Since the COVID-19 virus outbreak in December 2019, the disease has spread to more than 200 countries across the world along with the World Health Organization declaring it a public health emergency. The global impacts of the coronavirus disease 2019 (COVID-19) are already starting to be felt, and will significantly affect the veterinary pain management market in 2020. The outbreak of COVID-19 has led to reduced adoption of animals & pets and also it has brought effects on many aspects, like scheduled public transportation cancellations; travel bans and quarantines; closed operations across hotels & restaurants; banning of public gatherings & events; large slow-down in the supply chain of different markets; stock market unpredictability; declining business assurance, and uncertainty in the future market dynamics.