The Companion Animal Arthritis by The Business Research Company provides market overview across 60+ geographies in the seven regions - Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2024-2033).
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In accordance with The Business Research Company's exhaustive analysis on Companion Animal Arthritis, the market has exhibited robust growth in recent years, showcasing a compelling trajectory. From its standing at $3.4 billion in 2024, the market is anticipated to ascend to $3.72 billion in 2024, manifesting an impressive compound annual growth rate (CAGR) of 9.7%. This commendable expansion during the historical period is ascribed to escalating pet ownership, strides in veterinary medicine, and heightened awareness and education within the domain.
Projections for the companion animal arthritis market foretell an even more accelerated growth in the coming years, catapulting to $5.47 billion by 2028 at a CAGR of 10.1%. This anticipated surge in the forecast period finds its roots in the burgeoning aging pet population, revolutionary therapeutics, tailored nutritional solutions, the integration of telemedicine in veterinary care, and the pervasive humanization of pets.
Rising trend of pet adoption is expected to propel the growth of companion animal arthritis market. Pet adoption helps reduce stress, anxiety, depression, and so on. Pet adoption is a method of getting a dog, cat, and other exotic animals that their prior owners have given up to a shelter or rescue rather than getting one from a pet shop, breeder, or another individual. Pets face the risk of developing arthritis once they start getting into old age. For instance, according to a survey conducted by, The American Pet Products Association, a US-based not-for-profit industry association, approximately half of british homes with pets acquired at least one new animal while the country was in lockdown, while 11.3 million Americans acquired new pets during the pandemic. Additionally, in the survey, 16% of Generation Z respondents and 13% of millennials stated they had adopted a new pet during the pandemic. Therefore, the rising trend of pet adoption contributes significantly to the growth of the companion animal arthritis market.
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The companion animal arthritis market covered in this report is segmented –
1) By Type: Dogs, Cats, Other Types
2) By Indication: Osteoarthritis, Other Arthritis
3) By Treatment: Medication, Supplements, Other Treatments
4) By Distribution Channel: Veterinary Hospitals And Clinics, Retail Pharmacies, Online Stores, Other Distribution Channels
Notable trends on the horizon encompass the integration of biologics in veterinary medicine, the proliferation of digital health solutions, the ascendancy of nutraceuticals and functional foods, strategic collaborations and partnerships, the impact of pet insurance, consumer clamor for natural and holistic therapies, and the ascendancy of data-driven veterinary care.
The burgeoning trend of pet adoption emerges as a pivotal force propelling the companion animal arthritis market forward. Beyond mere companionship, pet adoption serves as a potent remedy for mitigating stress, anxiety, and depression. This approach involves acquiring dogs, cats, and exotic animals from shelters or rescues rather than traditional sources like pet shops or breeders. As pets age, they face an increased risk of developing arthritis, a reality highlighted by The American Pet Products Association's survey. This study revealed that nearly half of British households with pets embraced new additions during lockdown, while a staggering 11.3 million Americans welcomed new pets amid the pandemic. Furthermore, 16% of Generation Z and 13% of millennials reported adopting pets during this period. Evidently, the upward trajectory in pet adoption significantly fuels the expansion of the companion animal arthritis market.
The companion animal arthritis market report table of contents includes:
1. Executive Summary
2. Companion Animal Arthritis Market Characteristics
3. Companion Animal Arthritis Market Trends And Strategies
4. Companion Animal Arthritis Market - Macro Economic Scenario
5. Global Companion Animal Arthritis Market Size and Growth
.....
31. Global Companion Animal Arthritis Market Competitive Benchmarking
32. Global Companion Animal Arthritis Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Companion Animal Arthritis Market
34. Companion Animal Arthritis Market Future Outlook and Potential Analysis
35. Appendix
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