Pet Diabetes Care Market Size, Share, Trends, Overview 2022
The global pet diabetes care market size was valued at USD 2,125.7 million in 2021 and is poised to grow at a significant CAGR of 7.0% during the forecast period 2022-28. The primary driver of the expansion of the global pet diabetes care market includes the increasing number of animals developing diabetes and having inappropriate biological reactions, rising demand for diabetic care devices as lifestyle-related illnesses become more prevalent and growing costs for pet healthcare. Glucose monitoring devices segment is expected to account for a larger revenue share in the global pet diabetes care market, with a value share worldwide due to firms releasing equipment for pet diabetes care and an increase in the diagnostic rate for diabetic pets. The major players have introduced specific pet glucose monitoring devices as human glucometers don't provide accurate readings for animal blood sugar levels.
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The global pet diabetes care market segmentation:
- By Devices Type: Glucose monitoring devices and Insulin delivery devices
- By Animal Type: Cats, Dogs and Horses
- By End User: Veterinary clinics, Home care settings and Veterinary hospitals
Asia Pacific Pet Diabetes Care Market
The Asia Pacific market is expected to increase in the global pet diabetes care market over the forecast period. It is projected to grow at a CAGR of 7.5% in the coming years. This can be due to an increase in private and public sector companies' investments in research and development as well as to better administration of animal health care. Spending on pet healthcare is rising in a number of nations, including Japan and Australia, which will greatly boost the prognosis for the regional industry. Growing pet adoption, increasing pet owner discretionary income to provide their pets with an organic lifestyle, and rising pet healthcare concerns will all contribute significantly to the market's growth throughout the projection period. North America held a considerable market share during estimated period. US is the major contributor for the growth of the market in the region.
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Key players’ profiles in the pet diabetes care market report are Allison Medical, potex, Inc., Becton, Dickinson and Company, Boehringer Ingelheim Vetmedica, Inc., Henry Schein Animal Health, MED TRUST, Merck & Co. Inc., UltiMed, Inc. and Zoetis, Inc.
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