The companion animal arthritis market involves the treatment of joint and musculoskeletal pain in pet animals like dogs and cats. Arthritis, a chronic condition of joint inflammation and pain, is quite common in aging companion animals as it is in humans. For pets, arthritis can cause stiffness, limping, difficulty performing everyday activities like climbing stairs, jumping or playing. Various anti-arthritic drugs like NSAIDs, analgesics, nutraceuticals, and therapies help manage symptoms and improve mobility for affected pets.
Key Takeaways
Key players operating in the companion animal arthritis market are Vetoquinol, NexGen Pharmaceuticals, Norbrook, Eltech K-Laser s.r.l, Zoetis, Virbac, Elanco, Boehringer Ingelheim International GmbH, Ceva, and Dechra Pharmaceuticals PLC. These players are engaged in new product launches, expansions, partnerships and acquisitions to strengthen their global presence. Elanco's acquisition of Bayer's animal health business in 2020 enhanced its product portfolio in this market. Emerging economies in Asia Pacific and Latin America offer lucrative opportunities for market players owing to growing pet ownership and increasing veterinary healthcare spending in these regions. With rising pet ownership worldwide, key players are expanding their manufacturing and distribution networks globally to capture international markets.
The companion animal arthritis market provides opportunities for nutraceutical companies and laser/stem cell therapy providers to introduce novel alternatives for pain relief in pets. The growing demand for natural, minimally invasive treatment options is an opportunity for innovators to commercialize alternative therapies. With increasing humanization of pets, owners are willing to spend more on advanced therapeutic options for improving quality of life of arthritic pets.
Market Drivers and Restraints
Rising pet healthcare expenditure, increasing incidence of arthritis in aging pet population, and growing pet humanization are some key factors driving the companion animal arthritis market. According to the American Pet Products Association, nearly $31.9 billion was spent on vet care in the U.S. in 2021 reflecting a high priority on pet health. Additionally, rising obesity rates in pets and delayed spaying/neutering contribute to early arthritis onset in some breeds. Product innovations introducing site-specific drug delivery for improved efficacy and minimal side effects will also support market growth over the forecast period.
However, challenges around intellectual property protection and lack of regulatory guidelines for approval of alternative therapies remain constraints. Expensive joint replacement surgeries and stem cell therapies are also beyond the budget of some pet owners limiting widespread adoption. Patent expiries of blockbuster anti-arthritic drugs will also impact market revenues.
Segment Analysis
The Companion Animal Arthritis Market Demand can be segmented by drug type, distribution channel, and geography. The drug type segment of the market is dominated by nonsteroidal anti-inflammatory drugs (NSAIDs) as they offer relief from pain and inflammation effectively. NSAIDs have become the standard treatment option for arthritis. Based on distribution channel, the companion animal arthritis market is dominated by veterinary hospitals and clinics as they remain the preferred channel for pet owners seeking medications and treatment for their pets arthritis needs.
Global Analysis
Regionally, the North America region dominates the companion animal arthritis market due to rise in pet adoption rates, increase in disposable income of owners which enables better access to arthritis treatment options, and higher per-capita spending on pet healthcare. The market is fastest growing in Asia Pacific region owing to increasing awareness regarding arthritis in pets and expanding veterinary healthcare infrastructure in countries like India and China.
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