Veterinary Pain Management Market To Generate $2.78 Billion Revenue by 2030

The veterinary pain management market size is expected to advance at a CAGR of 7.10% during 2022–2030, to reach USD 2.78 billion by 2030. This is ascribed to the growing pet ownership and increasing prevalence of various musculoskeletal disorders and other chronic disorders in animals that cause pain and inflammation. Additionally, the rising number of veterinary practitioners, increasing consumption of meat & milk, and surging adoption of pet insurance, with the growing animal health expenditure, are the major factors driving the growth of the market.

Furthermore, the rising awareness of diseases in animals, increasing livestock and pet population, the presence of many established animal pharmaceutical companies in different regions, will drive the market of veterinary pain management over this decade.

Adoption of Advanced Diagnostic Tools and Technologies Drives Market

The rising adoption of technologically advanced tools for veterinary pain management and the massive unexplored market in emerging economies are creating lucrative opportunities for the market to grow at a substantial rate in the forecast period.

Nowadays, there is an increase in the adoption of advanced diagnostic and therapeutic technologies that are traditionally used for humans on animals. These technologies include magnetic resonance imaging, 3D printing, laser therapy, endoscopy, ultrasonography, radiology, and laparoscopy. Further, microfluidics, molecular diagnostics, artificial intelligence and other diagnostic techniques have the potential to revolutionize the animal health sector.

Livestock Animals Category Held Significant Share

Livestock animals hold a significant share owing to the growing demand for protein-rich meals globally. These animals generally include cattle, swine, and sheep, which are raised for milk, wool, and meat. These animals are witnessing a rising prevalence of chronic diseases, which, along with the increasing awareness among organizations that advocate for animal healthcare and the high spending on their wellbeing in developing countries, is driving the market in this category.

It is quite difficult to know whether livestock animals are experiencing pain, which may be identified by visible signs, such as lameness, expiratory grunts, accelerated breathing rate, increased vocalization, and teeth grinding. NSAIDS, local anesthetics, and α2 adrenergic drugs are the most-common medications used to treat pain in these animals.

Asia-Pacific To Witness Fastest Growth

The Asia-Pacific industry will register the fastest growth, with a CAGR of about 7.9%, during the forecast period. This will be due to the surge in animal goods exports from the region, which is pressuring those engaged in animal husbandry to keep livestock and poultry healthy amidst the increasing prevalence of infectious and chronic musculoskeletal disorders.

Moreover, the changing lifestyles in emerging economies, such as China and India, have boosted the adoption of production animals, which would assist in the growth of the market throughout the forecast period. Additionally, the improving living standards in these countries are leading to a rise in the number of pet owners, which further drives the market growth.

The industry in Asia-Pacific is also growing due to the increasing awareness of improving animal health among the population and the rising research and development activities. The interest in understanding the importance of diet, gut health, and immunity in animals is providing ample opportunities for improving animal health and welfare. Additionally, the various government initiatives aimed at the wellbeing of livestock and pets and the presence of major market players are propelling the growth of the market.

The most-significant veterinary pain management market players are Zoetis Inc., Boehringer Ingelheim International GmbH, Elanco Animal Health Incorporated, Merck & Co. Inc., Dechra Pharmaceuticals PLC, Vetoquinol, Assisi Animal Health, Fidelis Animal Health Inc., Sequent Scientific Limited, and Multi Radiance Medical.