New York, Aug. 18, 2022 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the report “Global Pet Diabetes Care Market Size, Share & Industry Trends Analysis Report By Animal Type, By Distribution Channel, By Solution, By Regional Outlook and Forecast, 2022 – 2028” – https://www.reportlinker.com/p06315039/?utm_source=GNW
Restricted glucose transport to the cells is caused by a lack of insulin synthesis. This causes the cells to operate improperly, and the tissue becomes energy-starved. As a result of this metabolic famine, the liver begins to metabolise extra sugar that has been accumulated in the liver, muscles, and fat cells.
Diabetes is a metabolic condition that frequently affects elderly pets, though it can also occur in younger animals. Unlike humans, some pets are genetically predisposed to acquiring diabetes; yet, obesity raises the risk of diabetes in animals. Since pet diabetes cannot be treated, growing efforts are being made to manage it as best as possible by pet owners and major players in the market for pet diabetic care equipment. The quality of life for pets with diabetes is unaffected by proper management and care. Diabetes in pets typically requires lifelong management, including a healthy exercise programme, a special diet, and, notably in dogs, daily insulin injections.
The incidence and increasing health conditions of the disease, supportive awareness campaigns launched by governments, tactics adopted by significant companies, and an increase in the number of companion animals and pet adoptions are all contributing causes. For example, Boehringer Ingelheim International overcame the pandemic hurdles by taking extensive measures and successfully maintaining its animal health business. The rising adoption of pet insurance, increasing costs for veterinary care, the return to normalcy following the pandemic, R&D initiatives by important corporations, and advancements in pet diabetic care devices are a few of the major factors fueling the expansion.
COVID-19 Impact Analysis
The COVID-19 pandemic’s advent has sharply raised public healthcare concerns that have an effect on the world economy. Numerous local and national regulatory organizations were identified to place limitations on the movement of products and individuals as the cases were reported to increase. Supply chain difficulties were found to have an impact on the total sales of the devices for treating pet diabetes with the arrival of the COVID-19 pandemic. Nevertheless, this was largely offset by the rise in demand from pet owners who wanted to stock up on important pet care items like diabetic devices for pets. Revenue in the pet diabetes care industry have decreased as a result of the COVID-19 pandemic, particularly in 2020.
Market Growth Factors
Growing Adoption Of Pets Among Population
The amount spent on pet care has grown dramatically as a result of an increase in pet adoption for companionship and safety-related reasons. The majority of pet owners are known to treat their animals with the highest care and regard them to be family members, which drives up the cost of pet care. The population of pet is constantly increasing across various nations of the world, which is creating opportunities for the pet care companies.
Increase In The Incidence Of Diabetes Among Pets
Ketoacidosis, cataracts, and kidney failure can develop in dogs with diabetes if it is not addressed. Chronic pancreatitis, nerve deterioration and ketoacidosis can all occur in diabetic cats. Early detection and treatment are so crucial. As per Vetsource, the lifetime prevalence of diabetes is currently 1 in 300 dogs and 1 in 230 cats, and these numbers are steadily rising. According to the 2016 State of Pet Health Report, over a ten-year period, the disease’s prevalence increased by over 80% in dogs and 18% in cats.
Market Restraint Factors
Low Awareness Among People About Proper Pet Diabetes Management
Although diabetes in pets is a serious disease that could be treated with medication, it could be effectively recognized early and controlled with a veterinarian’s advice, correct care, food, and exercise, assuring a long and healthy life. But, routine medication in animals has a number of undesirable side effects. Also, it has been noted that diabetic pets are more susceptible to various infections. High sugar levels may result in cataract, which may impair a pet’s ability to smell, hear, and see. Urinary tract infections are also at risk due to elevated blood sugar levels.
Animal Type Outlook
On the basis of animal type, the pet diabetes care market is segmented into Dogs and Cats. The cats segment procured a significant revenue share in the pet diabetes care market in 2021. It is because more pet owners are becoming aware of the signs of diabetes in their cats. Another element driving expansion is the rising incidence of diabetes among cats. For example, relative to dogs, cats are three times more likely to develop diabetes, as per Boehringer Ingelheim International GmbH.
Based on solution, the pet diabetes care market is divided into Treatment (Insulin Therapy, Insulin Delivery Devices and Other Treatments) and Glucose Monitoring Devices. Under treatment segment, the insulin therapy segment witnessed the largest revenue share in the pet diabetes care market in 2021. Since insulin therapy helps the body transport glucose from eaten food to other parts, it is preferred by veterinarians as that of the gold standard treatment for diabetes in pets Given that needles could not be reused, veterinary clinics and homes have a high need for insulin delivery devices such needles, syringes, and delivery pens.
Distribution Channel Outlook
By distribution channel, the pet diabetes care market is fragmented into Veterinary Hospitals & Clinics, Retail Pharmacies and E-commerce. E-commerce segment recorded a significant revenue share in pet diabetes care market in 2021. Pet glucometers & insulin products are becoming more and more in demand as the number of families with companion animals rises. In retail vet pharmacies, a variety of brands of glucose monitors and insulin delivery pens are offered for the treatment of diabetes in companion animals. During the COVID-19 pandemic, pet diabetes products have seen significant growth in online sales.
Region-wise, the pet diabetes care market is analyzed across North America, Europe, Asia Pacific and LAMEA. North America emerged as the leading region with the maximum revenue share in the pet diabetes care market in 2021. The large presence of key businesses, the adoption of various methods developed by key corporations to expand market penetration, the rising accessibility of treatment, the increasing diagnostic rates, and the growing pet population and spending all contribute to the region’s high share. Another factor boosting the market’s growth is the rise in the number of veterinary clinics with qualified veterinarians across the globe.
The market research report covers the analysis of key stakeholders of the market. Key companies profiled in the report include Boehringer Ingelheim International GmbH, Becton, Dickinson and Company, Merck & Co., Inc., Zoetis, Inc., ACON Laboratories, Inc., Allison Medical, Inc., i-SENS, Inc., Trividia Health, Inc., UltiMed, Inc., and Taidoc Technology Corporation.
Scope of the Study
Market Segments covered in the Report:
By Animal Type
By Distribution Channel
• Veterinary Hospitals & Clinics
• Retail Pharmacies
o Insulin Therapy
o Insulin Delivery Devices
• Glucose Monitoring Devices
• North America
o Rest of North America
o Rest of Europe
• Asia Pacific
o South Korea
o Rest of Asia Pacific
o Saudi Arabia
o South Africa
o Rest of LAMEA
• Boehringer Ingelheim International GmbH
• Becton, Dickinson and Company
• Merck & Co., Inc.
• Zoetis, Inc.
• ACON Laboratories, Inc.
• Allison Medical, Inc.
• i-SENS, Inc.
• Trividia Health, Inc.
• UltiMed, Inc.
• Taidoc Technology Corporation
• Exhaustive coverage
• Highest number of market tables and figures
• Subscription based model available
• Guaranteed best price
• Assured post sales research support with 10% customization free
Read the full report: https://www.reportlinker.com/p06315039/?utm_source=GNW
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