Global Companion Animal Arthritis Market Major Driving Factors And Forecast To 2033 | |
The Companion Animal Arthritis by The Business Research Company provides market overview across 60+ geographies in the seven regions - Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2024-2033). Learn More On The Companion Animal Arthritis Market: https://www.thebusinessresearchcompany.com/report/companion-animal-arthritis-global-market-report In accordance with The Business Research Company's analysis of the Companion Animal Arthritis market, it has demonstrated robust growth in recent years, surging from $3.4 billion in 2023 to a projected $3.72 billion in 2024, reflecting a noteworthy Compound Annual Growth Rate (CAGR) of 9.7%. This expansion during the historical period can be ascribed to the escalating trend of pet ownership, advancements in veterinary medicine, and a heightened emphasis on awareness and education within the pet care domain. Forecasts for the companion animal arthritis market anticipate an accelerated trajectory, poised to burgeon to $5.47 billion by 2028, with a projected CAGR of 10.1%. The anticipated growth in this period can be accredited to an aging pet population, pioneering developments in therapeutic interventions, the advent of customized nutrition, the integration of telemedicine in veterinary care, and the overarching trend of humanization in pet care. Rising trend of pet adoption is expected to propel the growth of companion animal arthritis market. Pet adoption helps reduce stress, anxiety, depression, and so on. Pet adoption is a method of getting a dog, cat, and other exotic animals that their prior owners have given up to a shelter or rescue rather than getting one from a pet shop, breeder, or another individual. Pets face the risk of developing arthritis once they start getting into old age. For instance, according to a survey conducted by, The American Pet Products Association, a US-based not-for-profit industry association, approximately half of british homes with pets acquired at least one new animal while the country was in lockdown, while 11.3 million Americans acquired new pets during the pandemic. Additionally, in the survey, 16% of Generation Z respondents and 13% of millennials stated they had adopted a new pet during the pandemic. Therefore, the rising trend of pet adoption contributes significantly to the growth of the companion animal arthritis market. Get A Free Sample Of The Report (Includes Graphs And Tables): https://www.thebusinessresearchcompany.com/sample.aspx?id=7772&type=smp The companion animal arthritis market covered in this report is segmented – 1) By Type: Dogs, Cats, Other Types 2) By Indication: Osteoarthritis, Other Arthritis 3) By Treatment: Medication, Supplements, Other Treatments 4) By Distribution Channel: Veterinary Hospitals And Clinics, Retail Pharmacies, Online Stores, Other Distribution Channels Key trends projected in this forecast include the integration of biologics in veterinary medicine, the adoption of digital health solutions, the rise of nutraceuticals and functional foods, increased collaborations and partnerships, the impact of pet insurance, a surge in consumer demand for natural and holistic therapies, and the rise of data-driven veterinary care. One significant catalyst for the expansion of the companion animal arthritis market is the burgeoning trend of pet adoption. This paradigm shift not only alleviates stress, anxiety, and depression but also addresses the potential risk of arthritis in aging pets. The adoption of dogs, cats, and other exotic animals from shelters or rescues, instead of traditional sources like pet shops or breeders, has gained momentum. Notably, during the lockdown, approximately half of British households with pets acquired new animals, and 11.3 million Americans welcomed new pets into their homes. A survey by The American Pet Products Association revealed that 16% of Generation Z and 13% of millennials adopted pets during the pandemic. This escalating trend in pet adoption significantly contributes to the overall growth of the companion animal arthritis market. The companion animal arthritis market report table of contents includes: 1. Executive Summary 2. Companion Animal Arthritis Market Characteristics 3. Companion Animal Arthritis Market Trends And Strategies 4. Companion Animal Arthritis Market - Macro Economic Scenario 5. Global Companion Animal Arthritis Market Size and Growth ..... 31. Global Companion Animal Arthritis Market Competitive Benchmarking 32. Global Companion Animal Arthritis Market Competitive Dashboard 33. Key Mergers And Acquisitions In The Companion Animal Arthritis Market 34. Companion Animal Arthritis Market Future Outlook and Potential Analysis 35. Appendix | |
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