Top Growth Trends in the Pet Diabetes Care Devices Market: Insights into Market Size and Opportunities for 2025-2034
2025 Market Reports Update: Market Size Forecasts to 2034, Key Trends, Leading Players, and Top Regions – Get Ahead of the Competition Today!
How Are Key Drivers Contributing to the Growth and Expansion of the Pet Diabetes Care Devices Market?
The surge in the pet healthcare costs is predicted to boost the development of the pet diabetes care device market. Pet healthcare expenses refer to the funds that pet owners allocate to take care of their pets’ health complications. This cost includes veterinary care, equipment, and essential pet health gadgets. For example, data published by the American Veterinary Medical Association, a non-profit organization based in the US, in October 2022 disclosed that consumer spending on the healthcare of dogs and cats has universally risen between 2020 and 2022. The annual cost of veterinarian visits for homes with a singular dog climbed up to $362 in 2022 from the previous $224 in the last two years. Thus, the rise in pet healthcare spending is facilitating the expansion of the pet diabetes care device market.
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#What is the Growth Potential of the Pet Diabetes Care Devices Market, and How Will It Perform by 2034?
In recent times, we have seen robust growth in the size of the pet diabetes care devices market. It is projected to expand from $2.56 billion in 2024 to $2.74 billion in 2025, achieving a compound annual growth rate (CAGR) of 7.0%. Factors contributing to this growth during the historic period include the launch of glucose monitoring devices, a surge in pet diabetes instances, better treatment results, increased spending on pet healthcare, and enhanced education and support from veterinarians.
The market for pet diabetes care devices is projected to experience significant expansion in the coming years, rising to $3.91 billion by 2029 with a 9.3% CAGR. Several factors are causing this surge during the estimated period, such as increasing consciousness about pet health, utilization of interconnected devices, custom treatment options, broadening of telehealth, and research and development expenditure. During this projection timeframe, key trends like cooperations and partnerships, advancements in insulin delivery, education and awareness initiatives, telemedicine, and remote pet healthcare, as well as personalized and targeted therapies will dominate the market.
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What New Market Trends Are Reshaping thePet Diabetes Care Devices Market and Its Opportunities?
A significant trend in the pet diabetes care device market is the progression of technology. Leading businesses in this market are producing creative technologies to fortify their market standing. For example, Zoetis Inc., an American veterinary pharmaceutical firm, unveiled the AlphaTrak 3 blood glucose monitoring system in February 2023, aiming for cats and dogs within the United States. Included with AlphaTrak 3 is a novel mobile application designed to help animal owners and veterinary health experts collect, store, and distribute data. The AlphaTrak 3 system simplifies data sharing and communication through its smartphone application, expediting the process of conveying a pet’s glucose levels and other necessary information to the veterinarian in real time. This ultimately boosts the confidence level of veterinarians and pet owners regarding diabetic pet care. The AlphaTrak 3 device provides precise readings in a mere five seconds, outpacing its predecessor, the AlphaTrak 2. AlphaTrak 3 requires only 0.3 microliters of blood and can measure a blood sugar range from 20 to 750 milligrams per deciliter. The updated AlphaTrak 3 mobile application collects more comprehensive data from pet owners, encompassing facets such as feeding, drinking, activity, and timing of insulin administration.
Who Are the Leading Market Players Fueling Growth in the Pet Diabetes Care Devices Market Trend?
Major companies operating in the pet diabetes care devices market include Allison Medical Inc., Zoetis Inc., Becton Dickinson and Company, Boehringer Ingelheim Vetmedica Inc., Henry Schein Animal Health, Apotex Inc., Merck Co. Inc., Trividia Health Inc., UltiMed Inc., ACON Laboratories Inc., i-SENS Inc., TaiDoc Technology Corporation, Abbott Laboratories, Novo Nordisk AS, Covetrus AG, Eli Lilly and Company, Bayer AG, Terumo Corporation, AccuBioTech Co. Ltd., ALR Technologies Inc.
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How is the Global Pet Diabetes Care Devices Market Segemented?
The pet diabetes care devices market covered in this report is segmented –
1) By Animal Type: Dogs, Cats, Horses
2) By Device: Glucose Monitoring Devices, Insulin Delivery Devices
3) By End Users: Homecare, Veterinary Hospitals, Others End Users
Subsegments:
1) By Dogs: Insulin Delivery Devices, Glucose Monitoring Devices, Blood Glucose Test Strips, Continuous Glucose Monitors
2) By Cats: Insulin Delivery Devices, Glucose Monitoring Devices, Blood Glucose Test Strips, Continuous Glucose Monitors
3) By Horses: Insulin Delivery Devices, Glucose Monitoring Devices, Blood Glucose Test Strips, Continuous Glucose Monitors
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Which Geographics are Influencing the Growth of the Pet Diabetes Care Devices Market?
North America was the largest region in the pet diabetes care devices market in 2024. The regions covered in the pet diabetes care devices market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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