The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2024 and forecasted to 2033

According to The Business Research Company’s Canine Arthritis Treatment Global Market Report 2024, the canine arthritis treatment market is expected to show promising growth in the forecast period.

The canine arthritis treatment market has demonstrated robust growth in recent years, reflecting increased awareness and advancements in veterinary care. Here’s an overview of current trends, future projections, and key factors influencing the market.

Market Growth Overview

• Current Market Size: In 2023, the canine arthritis treatment market was valued at $2.33 billion.
• Annual Growth: The market is expected to grow to $2.35 billion in 2024, achieving a compound annual growth rate (CAGR) of 5.3%.
• Historic Drivers: Growth has been driven by the aging pet population, increased awareness among pet owners, preventive care focus, higher disposable incomes, and rising veterinary expenditures.

Future Market Projections

• Forecast Growth: By 2028, the market is anticipated to reach $2.90 billion, reflecting a CAGR of 5.5%.
• Forecast Drivers: Key factors include increased pet insurance coverage, growing arthritis cases, rising pet ownership, demand for minimally invasive procedures, and higher prevalence of canine arthritis.
• Major Trends: Innovations in treatment, advancements in veterinary medicine, demand for advanced therapies, and integration of technology are shaping the market.

View More On The Canine Arthritis Treatment Market Report 2024 – https://www.thebusinessresearchcompany.com/report/canine-arthritis-treatment-global-market-report

Rising Pet Ownership Rates

• Impact on Market: Growing pet ownership is a significant driver for the canine arthritis treatment market. Factors contributing to this rise include lifestyle changes, the humanization of pets, and higher disposable incomes.
• Pet Ownership Statistics: As of October 2023, 66% of U.S. households own pets, equating to approximately 86.9 million households. This surge in pet ownership boosts demand for effective arthritis treatments to enhance the quality of life for pets.

Key Market Players

• Major Companies: The market includes leading companies such as Merck & Co. Inc., Bayer AG, Eli Lilly and Company, Zoetis Inc., and Elanco Animal Health Incorporated, among others.
• Innovations and Acquisitions: Companies are investing in innovative treatments and acquisitions to strengthen their market positions. For example, Elanco’s acquisition of Kindred Biosciences Inc. for $444 million aims to boost innovation and research in biologics and monoclonal antibodies.

Innovative Treatment Solutions

• New Treatments: The market is seeing the development of advanced treatments such as bedinvetmab injections, which target nerve growth factor (NGF) to alleviate pain associated with osteoarthritis (OA) in dogs.
• FDA Approval: In May 2023, Zoetis Inc. received FDA approval for Librela, the first monoclonal antibody injection for canine OA pain management, administered monthly for long-term relief.

Market Segmentation

1. By Treatment Type: The market is segmented into drugs, supplements, surgical procedures, and other treatment types.
2. By Route of Administration: Treatments are administered orally, parenterally, or through other routes.
3. By Arthritis Type: Includes osteoarthritis, rheumatoid arthritis, osteochondrosis, and traumatic arthritis.
4. By Distribution Channels: Treatments are available through veterinary clinics and hospitals, retail pharmacies, and online pharmacies.

Regional Insights

• Current Leading Region: North America was the largest market for canine arthritis treatments in 2023.
• Future Growth: The Asia-Pacific region is expected to be the fastest-growing market segment in the forecast period.

As the canine arthritis treatment market continues to expand, driven by innovation, rising pet ownership, and increased demand for advanced therapies, it remains a dynamic field with promising opportunities for growth and development.

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