The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

The global companion animal arthritis market is expected to grow from $3.09 billion in 2022 to $3.47 billion in 2023 at a compound annual growth rate (CAGR) of 12.2%. The market size of companion animal arthritis is expected to grow to $4.72 billion in 2027 at a CAGR of 8.0%.

North America was the largest region in the companion animal arthritis market in 2022.

Companion Animal Arthritis Market Driver
Rising pet adoption is projected to drive the growth of the companion animal arthritis market. Adopting a pet can help alleviate stress, anxiety, and depression, among other things. Adopting a dog, cat, or other exotic animal from a shelter or rescue rather than purchasing one from a pet shop, breeder, or another individual is referred to as pet adoption. When pets reach an advanced age, they are at danger of acquiring arthritis. According to a survey conducted by The American Pet Products Association, a non-profit industry association based in the United States, approximately half of British households with pets acquired at least one new animal while the country was under lockdown, while 11.3 million Americans acquired new pets during the pandemic. In addition, 16% of Generation Z respondents and 13% of millennials said they had adopted a new pet during the epidemic, according to the survey. As a result, the rising trend of pet adoption considerably contributes to the growth of the companion animal arthritis market.

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Prominent Companion Animal Arthritis Market Trend
In the companion animal arthritis market, technological innovation is a prominent trend. People profit from technological innovation because it increases production and gives them access to newly produced better goods and services, which raises the overall standard of living. Monoclonal antibody treatment is being used by major industry players to treat companion animal arthritis. Monoclonal antibody treatment is used to treat arthritis, immune-mediated illnesses, chronic pain, and other conditions in companion animals. Monoclonal antibodies are made by immune cells that are identical clones of a single parent cell. For example, in April 2021, Zoetis, a pharmaceutical company located in the United States, introduced LIBRELA® and SOLENSIA® in the European Union, the United Kingdom, and Switzerland to treat arthritis pain in cats and dogs using monoclonal antibody therapy. It functions in the same way that naturally produced antibodies do, with little involvement of the liver or kidneys in their metabolism and little gastrointestinal affect.

Companion Animal Arthritis Market Prominent Players
Major players in the companion animal Zoetis, Virbac, Elanco, Boehringer Ingelheim International GmbH, Ceva Santé Animale, Dechra Pharmaceuticals PLC, Vetoquinol, NexGen Pharmaceuticals, Norbrook, Eltech K-Laser s.r.l., Companion Animal Health, Canine Arthritis Management, Bioiberica, Assisi Animal Health and Exubrion Therapeutics Inc.

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Key Companion Animal Arthritis Market Segments
The global companion animal arthritis market 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

The Companion Animal Arthritis Global Market Report 2023  provides a comprehensive overview on the companion animal arthritis market size, trends and drivers, opportunities, strategies, and companies analysis. The countries covered in the companion animal arthritis market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

View More Related Reports –
Animal And Pet Food Global Market Report 2023
Companion Animal Veterinary Vaccines Global Market Report 2023
Arthritis Monoclonal Antibodies Global Market Report 2023

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