Companion animals such as dogs and cats can suffer from arthritis as they get older. Arthritis is a degenerative joint disease that causes pain and swelling in the joints. It is characterized by damage to joint cartilage and the underlying bone. With rising pet ownership, demand for effective treatment options has increased. Companion animal arthritis treatments aim to reduce pain and swelling, improve pet mobility, and support joint health. Oral medications like nonsteroidal anti-inflammatory drugs (NSAIDs) are widely used to manage pain and inflammation. Some therapies also include laser therapy, stem cell therapy, joint supplements and hyaluronic acid injections.
The Global Companion Animal Arthritis Market is estimated to be valued at US$3.83 BN in 2024 and is expected to exhibit a CAGR of 7.4% over the forecast period between 2024 to 2031.
Key Takeaways
Key players operating in the Companion Animal Arthritis are Vetoquinol, NexGen Pharmaceuticals, Norbrook, Eltech K-Laser s.r.l, Zoetis, Virbac, Elanco, Boehringer Ingelheim International GmbH, Ceva, and Dechra Pharmaceuticals PLC.
The rising awareness among pet owners about arthritis management and willingness to spend on animal health is driving the market growth. With growing humanization of pets, demand for advanced treatment options with minimal side effects is increasing.
Globally, North America dominates the market owing to high pet adoption and expenditure on pet healthcare. However, Asia Pacific region is anticipated to exhibit lucrative growth opportunities during the forecast period led by growing pet ownership in China and India.
Market key trends
Rising adoption of stem cell therapy: Stem cell therapy has emerged as an effective alternative for treating osteoarthritis in pets. It helps repair damaged cartilage and reduce inflammation without major side effects. This has boosted the interest of pet owners in stem cell therapy.
Porter’s Analysis
- Threat of new entrants: Low cost barriers, established brands have economies of scale.
- Bargaining power of buyers: Large buyers can negotiate lower prices.
- Bargaining power of suppliers: Few alternative suppliers, suppliers have differentiation advantage.
- Threat of new substitutes: New alternatives from biologics are emerging rapidly.
- Competitive rivalry: Intense competition among existing players to gain market share.
Geographical Regions
North America accounts for the largest share of the Companion Animal Arthritis Market Demand in terms of value. The region has higher pet care expenditures and easy availability of therapies. Veterinarians here easily adopt new therapeutics.
The companion animal arthritis market is growing fastest in Asia Pacific. Rising pet ownership and increasing disposable incomes are boosting the market. Manufacturers are investing more in developing countries to tap unmet needs and new customers. China, India and Japan are offering lucrative opportunities for players.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it