VETERINARY PAIN MANAGEMENT MARKET ANALYSIS

Market Challenges And Opportunities

1. High cost of certain products is expected to hamper the growth of the global veterinary pain management market. For instance, in the emerging markets where there is an absence of animal insurance, the cost of certain veterinary pain management products are too high for individuals to bear. The average cost for laser therapy in chronic pain is around US$ 25 to 35 per treatment, and treatment costs are quite high as multiple laser therapy sessions are required. As a result, many people tend to shift towards off-label products.
2. Side effects associated with treatment is expected to hinder growth of the global veterinary pain management market. Non-steroidal anti-inflammatory drugs (NSAID) are one of the most commonly used and most effective drug in the treatment of pain due to arthritis or after surgery. Vomiting, decreased to no appetite, decreased activity level, and diarrhea are some of the most common side effects of NSAIDs in animals reported to the Food and Drug Administration’s (FDA’s) Center for Veterinary Medicine.

Market Opportunities:

1. Increase in awareness about animal health and welfare is expected to offer lucrative growth opportunities for players in the global veterinary pain management market. For instance, rise in awareness about animal health and welfare has improved animal healthcare and has led to the increasing demand for pain management products. The Cattle Health and Welfare Group (CHAWG), in the United Kingdom, is playing a crucial role in addressing relevant cattle health and welfare issues. In the U.K., CHAWG acts as the first point of call for all cattle health and welfare research, along with new disease challenges.
2. Favorable initiatives by the government and other organizations is expected to offer lucrative growth opportunities for players active in the global veterinary pain management market. For instance, in October 2020, FECAVA announced the launch of the campaign, FECAVA Basic Practices in Anesthesia and Analgesia, which will include important lectures around Europe in the upcoming years and a series of six ready-to-use, printable posters or infographics regarding anesthesia and pain management in animals.