Global demand for pet diabetes care market was valued at approximately USD 1,472.3 Million in 2018, and is expected to generate revenue of around USD 2,605.1 Million by end of 2025, growing at a CAGR of around 8.6% between 2019 and 2025.
The report covers forecast and analysis for the pet diabetes care market on a global and regional level. The study provides historic data from 2016 along with a forecast from 2019 to 2025 based on revenue (USD Million). The study includes drivers and restraints for the pet diabetes care market along with the impact they have on the demand over the forecast period. Additionally, the report includes the study of opportunities available in the pet diabetes care market on a global as well as regional level.
According to the report, global demand for pet diabetes care market was valued at approximately USD 1,472.3 Million in 2018, and is expected to generate revenue of around USD 2,605.1 Million by end of 2025, growing at a CAGR of around 8.6% between 2019 and 2025.
In order to give the users of this report a comprehensive view on the pet diabetes care market we have included competitive landscape and analysis of Porter’s Five Forces model for the market. The study encompasses a market attractiveness analysis, wherein Devices Type and services segment is benchmarked based on their market size, growth rate and general attractiveness.
The report provides company market share analysis in order to give a broader overview of the key players in the pet diabetes care market. In addition, the report also covers key strategic developments of the market including acquisitions & mergers, new Devices Type launch, agreements, partnerships, collaborations & joint ventures, research & development, regional expansion of major participants involved in the pet diabetes care market on global and regional basis.
Diabetes is a medical condition that arises when body cannot utilize glucose. Diabetes occurs most commonly in the older pets. However, some younger and pregnant pets are also susceptible to diabetes. Dogs and cats are at a higher risk of diabetes. Diabetes arises in female dogs twofold as frequently as male dogs. Some breeds of dogs may be prone to diabetes.
Factors such as growing rate of diabetes diagnosis in pets, technological advancements in pet diabetes treatment, and increasing awareness will act as major driving factors in the growth of global pet diabetes care market. Increased research and development activity and launch of new products will present an opportunity for the market players in the pet diabetes care market. Nonetheless, some side effects related to diabetes medication in pets and lack of awareness and low animal healthcare expenditure in developing regions will restrict the growth of global pet diabetes care market.
The global pet diabetes care market has been split into devices type, animal, end user, and region. Based on devices type, pet diabetes care market has been segmented into insulin delivery devices and glucose monitoring devices. The insulin delivery devices segment accounted for the highest market share in 2018 owing to high pet adoption. The animal segment has been divided into horses, dogs, and cats. The dogs segment accounted for the highest market share in 2018 owing to growing cases of obesity in dogs. The end user segment has been divided into veterinary hospitals, home care, and veterinary clinics. The veterinary hospitals segment accounted for the highest market share in 2018 due to increasing preference for veterinary hospitals among pet owners.
North America will be the leading region during the forecast period. U.S. accounted for the highest share in the North America region due to high pet adoption, presence of major market players, and high obesity rate among pets in the region. Europe is likely to be the succeeding key market. The crucial reasons are increasing trend of companion animals and high investment in research and development by major market players. Asia Pacific will develop at the highest growth rate owing to growing veterinary healthcare expenditure and increasing pet adoption. Latin America region will propagate at a noteworthy rate through the assessment time. Middle East & Africa will show positive advancement in the projected time-frame.
The report also includes detailed profiles of key players such as Merck, Zoetis, TaiDoc, Allison Medical, Ulticare, Boehringer Ingelheim Vetmedica Inc., and Bayer among others.
This report segments the Global Pet Diabetes Care Market as follows:
Global Pet Diabetes Care Market: By Devices Type
Global Pet Diabetes Care Market: By Animal
Global Pet Diabetes Care Market: By End User
Global Pet Diabetes Care Market: By Region