VETERINARY PAIN MANAGEMENT MARKET ANALYSIS

Veterinary Pain Management MarketSize and Trends

The global veterinary pain management market was valued at US$ 1,407.8 Mn in 2021 and is forecast to reach a value of US$ 2,154.9 Mn by 2028 at a CAGR of 6.3% between 2022 and 2028.

North America held dominant position in the global veterinary pain management market in 2020, accounting for 40.5% share in terms of volume, followed by Europe and Asia Pacific, respectively.

Figure 1. Global Veterinary Pain Management Market Share (%), by Region, 2021

Figure 2. Global Veterinary Pain Management Market Share (%), by Product, 2021

Market Trends/Key Takeaways:

1. Increase in demand for pain management is expected to drive growth of the global veterinary pain management market. For instance, in January 2022, U.S. Food and Drug Administration (FDA) approved Solensia (frunevetmab injection), the first treatment to control pain associated with osteoarthritis (OA) in cats.
2. Rising prevalence of inflammatory diseases in animals worldwide is expected to propel the growth of the global veterinary pain management market. For instance, according to an article published in June 2020 by Veterinary Practice News, the prevalence of osteoarthritis in dogs was found to be 20% worldwide, making it the most common chronic disease they face.