According to the latest report by IMARC Group, titled "Pet Diabetes Care Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028," the global pet diabetes care market size reached US$ 1.9 Billion in 2022. Pet diabetes is a common and prominent metabolic disease that affects dogs, cats, and livestock. It requires continuous monitoring of blood sugar levels in animals caused by insulin production. It is treated by taking care of pets and including a healthy diet, exercise, insulin therapy, monitoring, and regular veterinary checkups in their daily routine. Pet diabetes care also involves oral medications that stabilize blood sugar levels, help regulate the glucose levels in the bloodstream, and control the delivery of glucose to the tissues of the body. It aids in maintaining the condition, minimizing unpleasant symptoms of high and low blood sugar levels, and lowering the risks of severe complications, such as dementia, vision loss, urinary tract infections (UTI), skin allergies, and kidney issues.
Global Pet Diabetes Care Market Trends:
The increasing number of pets suffering from diabetes represents one of the key factors driving the demand for pet diabetes care around the world. Moreover, rising concerns among pet parents about the health of their pets are contributing to the market growth. In addition, the advent of smart wearable devices for pets that are integrated with advanced technologies, such as artificial intelligence (AI), machine learning (ML), and the Internet of Things (IoT) to monitor vital signs, is favoring the growth of the market. These devices also alert owners to any changes in these vital signs that may indicate a health issue. Furthermore, the growing number of veterinary diagnostic centers and significant improvements in the veterinary healthcare infrastructure is creating a positive outlook for the market. Apart from this, the increasing adoption of insulin treatment for diabetic dogs and cats that minimizes blood glucose levels by increasing peripheral consumption of glucose and suppressing the production of hepatic glucose is strengthening the growth of the market. On account of the aforementioned factors, the market is anticipated to reach a value of US$ 3.0 Billion by 2028, exhibiting a CAGR of 7.8% during 2023-2028.
- On the basis of the solution, the market has been bifurcated into treatment and glucose monitoring devices. At present, combined cycle pet diabetes care holds the largest market share.
- Based on the animal type, the market has been divided into dogs and cats. Presently, heavy duty (frame) exhibits a clear dominance in the market.
- On the basis of the distribution channel, the market has been categorized into veterinary hospitals and clinics, retail pharmacies, and online stores. Above 300 MW currently accounts for the biggest market share.
- Region-wise, the market has been segmented into North America (the United States and Canada); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia and others); Europe (Germany, France, United Kingdom, Italy, Spain, Russia and others); Latin America (Brazil, Mexico and others); and the Middle East and Africa. Amongst these, Asia Pacific enjoys the leading position in the market.
- The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market. Some of the key players include ACON Laboratories Inc., Allison Medical Inc., Becton Dickinson and Company, Boehringer Ingelheim International GmbH, i-SENS Inc., Merck & Co. Inc., Trividia Health Inc. (Sinocare), UltiMed Inc. and Zoetis Inc.
|Base Year of the Analysis
||Solution, Animal Type, Distribution Channel, Region
|| Asia Pacific, Europe, North America, Latin America, Middle East and Africa
||United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
||ACON Laboratories Inc., Allison Medical Inc., Becton Dickinson and Company, Boehringer Ingelheim International GmbH, i-SENS Inc., Merck & Co. Inc., Trividia Health Inc. (Sinocare), UltiMed Inc. and Zoetis Inc.
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