Market Challenges And Opportunities
Global Companion Animal Arthritis Market- Drivers
- Growing pet population: The growing pet population across the globe is driving significant growth in the companion animal arthritis market. As pets are living longer due to increased awareness about pet healthcare and ownership, various age-related diseases and conditions are on the rise. Arthritis is one such common ailment affecting pets, especially dogs and cats, in their geriatric stage. Much like humans, pets too experience wear and tear of the joints as they grow older. As per the latest data by the American Pet Products Association, approximately 90.5 million dogs and 117 million cats were kept as pets in the U.S. itself in the year 2021. With rising pet adoption during the pandemic, these figures are expected to further increase in the coming years. Longer lifespans and a growing pet population logically mean a higher susceptibility to arthritis in older pets. According to the Association for Pet Obesity Prevention's Pet Obesity Survey from 2020, over 60% of dogs and cats were either overweight or obese. This is a major cause of concern, as excess weight puts additional stress on the legs and joints, fueling arthritis. The increasing concern over pet health and wellness among owners has led to a boom in therapeutics, nutritional supplements, and medical devices intended to alleviate joint discomfort and pain in pets. Food items fortified with glucosamine, chondroitin, omega-3 fatty acids, and other compounds help support joint health as pets age. Stem cell therapy, acupuncture, hydrotherapy, and lifestyle modifications are gaining wider acceptance and use. Owners are also resorting to innovative soft chews, treats, wearable devices, and joint supplements in addition to medications and vet consultations. This rising prioritization of pet quality of life throughout is accelerating the companion animal arthritis market’s growth astronomically.
- Increasing prevalence of arthritis in companion animals: The prevalence of arthritis in companion animals like dogs and cats has steadily increased over the years. Arthritis is a common cause of lameness and pain in older companion animals. According to the American Veterinary Medical Association (AVMA) survey, the most common medical condition affecting dogs over one year of age is osteoarthritis, with an estimated 20% of dogs experiencing it by the age of two. Similarly, various studies by the non-profit organization Pet obesity prevention show that feline arthritis affects approximately 25-30% of cats, with prevalence increasing with age. Factors like overweight or obesity, joint injuries, and being neutered or spayed at an early age are contributing to higher rates of arthritis in pets.
- Growing expenditure on animal healthcare: Growing expenditure on animal healthcare is significantly driving the growth of the companion animal arthritis market. Owners today are more aware of their pets' health and quality of life. They do not want their animals to live with pain or discomfort in old age. As per recent statistics from American Pet Products Association, pet owners in the USA spent over US$31 billion for veterinary care, medicines, and supplies in 2021 alone, which indicates their growing willingness to spend on their pets health. While arthritis is a common joint disease that affects mobility and quality of life for aging dogs and cats, modern veterinary medicines and therapies ensure managing the symptoms efficiently. The treatments available range from joint supplements, and pain medications like non-steroidal anti-inflammatory drugs (NSAIDs) to stem cell therapy and adipose-derived regenerative cells (ADRCs) therapy, which help repair damaged joints and cartilage. Some therapies have been shown to reduce pain and halt the progression of the disease, according to data published in the Journal of Veterinary Internal Medicine in 2022. The effective solutions give pet owners confidence that their companions can lead active lives even during their old age.
Global Companion Animal Arthritis Market - Restraints
- High cost of treatment & medication: The high cost of treatment and medication is one of the major factors restraining the growth of companion animal arthritis market. Arthritis is a chronic condition that requires lifelong treatment and management for pets. This makes the overall cost of caring for an arthritic pet quite high. Many pet owners have to bear substantial annual costs for medications, therapeutic diets, joint supplements, and surgeries if required. Prescription drugs like nonsteroidal anti-inflammatory drugs (NSAIDs), which are commonly used to manage arthritis pain and inflammation can be expensive when taken for an extended period of time. Other treatments, like stem cell therapy and platelet rich plasma injections, also add to the budget.
- Lack of advanced veterinary facilities in developing regions: The lack of advanced veterinary facilities in developing regions is significantly restraining the growth of companion animal arthritis market. Developing nations have limited access to advanced diagnostic tools and specialized veterinary practitioners that are essential for the proper diagnosis and treatment of arthritis in companion animals. Arthritis, being a chronic condition, requires long-term management over the lifetime of the afflicted animal. This involves periodic monitoring, medical tests, the availability of a wide variety of arthritis medications, and therapies like rehabilitation, acupuncture, physical therapy, etc. However, veterinary infrastructure in most developing countries still remains underdeveloped.
Global Companion Animal Arthritis Market- Opportunities
- Increasing focus on pet insurance: Pet insurance is gaining more attention from pet owners as they are increasingly viewing their animals as part of the family. With rising veterinary costs for treating conditions like arthritis, pet insurance helps shoulder financial responsibilities. As policies become more affordable and offer better coverage for conditions such as arthritis, which affect many older pets, more owners will feel comfortable insuring their companions. This could drive up demand for diagnostic and therapeutic services for arthritis in pets over time. Recent data from the American Pet Products Association (APPA) found that 3.2 million U.S. households got pet insurance in 2021 alone, a growth of nearly 25% from 2020. As awareness and adoption of insurance continue to trend up, pets may receive timely treatment for arthritis instead of owners postponing or declining care due to expense.
- Growing demand for alternative treatment options: The companion animal arthritis market is well positioned to benefit greatly from the growing demand for alternative treatment options. Owners are increasingly looking for more holistic and natural remedies to manage their pets' joint pain and mobility issues, driven by a desire to minimize medication and provide overall wellness. This represents a major opportunity for companies developing nutraceutical or herbal supplements as well as those offering physical therapies like acupuncture, hydrotherapy, massage, and laser treatments. Several factors are fueling this increased interest in alternative and complementary approaches. Many pet owners view medications cautiously due to potential side effects like liver or kidney toxicity with long-term use. The prospect of lifestyle and environmental modifications that may prevent future joint issues also has strong appeal. Furthermore, the humanization of pets means companion animals are considered valued family members, leading owners to explore every possible option to improve their quality of life. This includes a willingness to try therapies commonly used for humans as well as seek multi-modal programs that pair medication with physical rehabilitation.
- Investments in Research and Development of advanced therapeutics: Investing in R&D of advanced therapeutics can unlock tremendous opportunities in the companion animal arthritis market. Arthritis is one of the most common medical conditions affecting cats and dogs. This reflects the need for innovative therapeutic options for managing joint pain and mobility issues in pets. Advanced therapeutics leveraging stem cell therapy, gene therapy, or tissue engineering approaches can potentially deliver curative outcomes for arthritis. Unlike conventional medications that only reduce symptoms, these novel strategies aim to regenerate damaged tissues or modulate the disease process at a genetic level. For instance, recent clinical studies have demonstrated that allogeneic mesenchymal stem cell injections help reduce inflammation and promote cartilage regeneration in arthritic dogs. Researchers are also working on gene therapies involving the introduction of genes encoding growth factors to stimulate healing. Tissue engineering approaches combine living cells with biodegradable scaffolds to replace cartilage lost to disease.
- High cost of treatment & medication
- Lack of advanced veterinary facilities in developing regions
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