Published Date: 31-Jul-2022
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According to a new report, published by KBV research, The Global Pet Diabetes Care Market size is expected to reach $2.5 billion by 2028, rising at a market growth of 8.3% CAGR during the forecast period.
The Dogs segment is leading the Global Pet Diabetes Care Market by Animal Type in 2021 thereby, achieving a market value of $1.5 billion by 2028. It is owing to the increasing adoption rates of dogs and growing cases of diabetes among dogs. The increase is being further fueled by the rising dog population. In 2020, 45 percent of American homes kept dogs, as per the American Veterinary Medical Association.
The Veterinary Hospitals & Clinics segment is showcasing a CAGR of 7.9 % during (2022 - 2028). This is due to an increase of veterinary hospitals and clinics with cutting-edge infrastructures worldwide. The veterinary hospitals and clinics serve as both the main treatment facilities for pet owners and a significant supplier of pharmaceuticals for sick animals. Another aspect influencing the expansion of the category in the market is the rising number of veterinary experts.
The Treatment segment acquired maximum revenue share in the Global Pet Diabetes Care Market by Solution in 2021 thereby, achieving a market value of $1.6 billion by 2028. This is due to the widespread accessibility of popular insulin products like Vetsulin and Prozinc. Every dog or cat with diabetes is advised to get daily insulin injections for the rest of their lives. Along with that, the rising demand for various treatments for pet diabetes would escalate the growth of the segment.
The North America market dominated the Global Pet Diabetes Care Market by Region in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $879.5 million by 2028. The Europe market is exhibiting a CAGR of 7.6% during (2022 - 2028). Additionally, The Asia Pacific market would showcase a CAGR of 9.2% during (2022 - 2028).
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of 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.
By Animal Type
By Distribution Channel
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