Industry Overview of Pet Diabetes Care Market
Pet diabetes care involves the continuous monitoring and treatment of blood sugar levels in animals, including the administration of insulin therapy and oral medications. These interventions aim to stabilize blood sugar levels, regulate glucose levels in the bloodstream, and control the delivery of glucose to the body tissues of animals. The utilization of pet diabetes care products has proven highly effective in reducing the unpleasant symptoms associated with both low and high blood sugar, while also minimizing the risks of severe complications such as dementia, urinary tract infections (UTIs), kidney issues, skin allergies, vision loss, and more. As a result, medications and therapies for pet diabetes care are extensively used in veterinary hospitals and clinics worldwide.
How Big Is the Pet Diabetes Care Market?
The global pet diabetes care market size reached US$ 1.9 Billion in 2022. Looking forward, IMARC Group expects the market to reach a value of US$ 3.0 Billion on by 2028, exhibiting a growth rate (CAGR) of 7.8% during 2023-2028.
What Are the Major Market Drivers in The Pet Diabetes Care Market?
The pet diabetes care market is witnessing significant growth due to various factors. A key driver is the rising trend of pet humanization, where pet owners prioritize the overall health and well-being of their pets. This has resulted in increased awareness about pet diabetes care among pet parents. Furthermore, there is a growing usage of insulin treatment for diabetic cats and dogs. Insulin therapy helps lower blood glucose levels by improving peripheral consumption of glucose and reducing hepatic glucose production, thus positively impacting market growth. The development of smart wearable devices integrated with machine learning (ML), artificial intelligence (AI), and the internet of things (IoT) is also contributing to market expansion. These devices enable remote tracking of pet health, allowing pet owners to monitor their pets' blood sugar levels and manage their condition more effectively. Moreover, the introduction of specific and highly targeted drugs for diabetes in pets, with minimal side effects, is driving market growth. These medications provide effective treatment options and improve the quality of life for diabetic pets. The expansion of veterinary clinics and hospitals globally, along with the launch of animal health awareness programs by government bodies, further fuel the growth of the pet diabetes care market. These initiatives promote regular check-ups, early diagnosis, and proper management of diabetes in pets. Overall, the increasing trend of pet humanization, the usage of insulin treatment, advancements in wearable technology, the availability of targeted drugs, and supportive initiatives by government bodies are expected to drive the pet diabetes care market in the foreseeable future.
What is included in market segmentation?
The report has segmented the market into the following categories:
Breakup by Solution:
- Treatment
- Glucose Monitoring Devices
Breakup by Animal Type:
- Dogs
- Cats
Breakup by Distribution Channel:
- Veterinary Hospitals and Clinics
- Retail Pharmacies
- Online Stores
Breakup by Region:
- North America
- United States
- Canada
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
- Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Others
- Latin America
- Brazil
- Mexico
- Others
- Middle East and Africa
Who are the key players operating in the industry?
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.
