Companion Animal Arthritis Market Size and Trends
The global companion animal arthritis market size is expected to reach US$ 6.31 Bn by 2030, from US$ 3.83 Bn in 2023, exhibiting a CAGR of 7.4% during the forecast period.
Global Companion Animal Arthritis Market- Trends
- Increasing online purchases of medications: The growing popularity of stem cell-based treatments is influencing the companion animal arthritis market in a significant way. As stem cell therapy offers regeneration and healing of damaged tissues, more pet owners are showing interest in this treatment option for their arthritic pets. According to the data shared in 2022, by the State Department of Agriculture, there was a 20% increase in the number of veterinary clinics offering stem cell therapy for arthritis between 2020 and 2022. Stem cell therapy works by injecting concentrated stem cells into the arthritic joint of a pet. These cells have the potential to develop into various joint tissues, like cartilage, and help repair damaged areas. In many cases, this regenerative treatment has provided relief from pain and swelling and helped restore mobility in pets. Pet owners are witnessing these benefits firsthand, which is contributing to the rising demand. As per a 2021 study conducted by the International Society for Stem Cell Application, over 75% of dogs who received autologous stem cell treatment for arthritis showed remarkable improvement in symptoms over 6 months with no adverse reactions.
- Increasing interest in preventive pet care: The global companion animal arthritis market has a notable trend toward the adoption of minimally invasive procedures. These procedures offer several advantages, including reduced recovery times, a lower risk of complications, and less post-operative discomfort. Here is how this trend is manifesting in the market:
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