PET DIABETES CARE DEVICES MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024-2031)

Regional Analysis

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North America has established itself as the dominant region in the global pet diabetes care devices market. It is expected hold a market share of 40.3% in 2024. This can be attributed to several factors. The U.S. has the highest pet ownership rate in the world, with over 60% of American households owning a pet. With rising pet obesity rates, diabetes in companion animals is also on the rise. This has boosted the demand for blood glucose monitoring equipment and insulin delivery devices among pet owners in the region. Additionally, North America is home to some of the largest pet pharmaceutical companies that are continuously investing in R&D for novel diabetes care solutions. Being an early adopter of new medical technologies, veterinary clinics and hospitals in the U.S. and Canada are well-equipped with the latest pet diabetes management devices.

Asia Pacific has emerged as the fastest growing regional market for pet diabetes care devices. Countries like China, India, and Japan have witnessed exponential growth in pet care expenditures over the past decade due to rapid urbanization, higher disposable incomes, and shifting cultural preferences. This has led to an increased awareness about pet health issues like diabetes. However, diabetes management previously involved sourcing insulin and vet prescriptions from overseas which drove up costs. But increased local manufacturing of companion animal healthcare products has made pet diabetes care therapy accessible and affordable in Asia Pacific. This has improved diagnosis and treatment rates, significantly boosting demand. Further foreign investments and collaborations between multinational companies and regional animal health startups are also spurring innovations suited to the preferences of Asian pet owners.