Animal Sedative Market Size, Share & Trends Analysis Report By Application, By Animal Type, By Route of Administration (Parenteral, Oral), By Drug Class, By End-use, By Region, And Segment Forecasts, 2024 - 2030

Animal Sedative Market Size, Share & Trends Analysis Report By Application, By Animal Type, By Route of Administration (Parenteral, Oral), By Drug Class, By End-use, By Region, And Segment Forecasts, 2024 - 2030

Animal Sedative Market Growth & Trends

The global animal sedative market size is expected to reach USD 527.3 million by 2030 and is projected to grow at a CAGR of 5.71% over the forecast period, according to a new report by Grand View Research, Inc. The primary drivers of market growth include the rising prevalence of chronic diseases in animals, rising pet ownership, increasing number of surgical procedures, and increasing animal health expenditure. Furthermore, the rise in pet humanization has led to an expansion of veterinary services, including behavioral therapy and specialized treatments. Vets are more frequently prescribing sedatives for pets undergoing surgeries, dental procedures, and other medical interventions, contributing to market growth. In addition, pet insurance acceptability is increasing as a result of a number of causes, including pet humanization, expanding pet population, increased initiatives by major corporations, and rising veterinary care costs. The AVMA reports that pet owners are increasingly using pet insurance to help them pay for their pets' medical expenses.

There is a growing awareness about the importance of controlling the pet population to reduce the number of stray animals. This has led to an increase in the number of spaying procedures. Spaying, being a surgical procedure, requires anesthesia or sedatives to ensure the animal remains pain-free and immobile during the operation. As more pet owners bring their pets to veterinarians for spaying, the overall number of veterinary visits increases, driving the demand for veterinary pharmaceuticals, including sedatives. The use of sedatives in spaying dogs is an essential part of the veterinary procedure, ensuring the safety and comfort of the animal. For instance, according to an article published by Pangolia Pte. Ltd., in April 2024, in the United States, 85% of dogs have been neutered or spayed.

Moreover, global pet population growth is fueling the market growth. Over the past few years, the number of pets has increased drastically as more and more households have decided to adopt a pet to improve their quality of life. According to estimates from the Global Animal Health Association, the number of dogs in the United States alone is over 85 million. This association estimates that almost half a billion dogs and cats are owned by families in the United States, Europe, and China. In contrast, the country's dog and cat populations expanded dramatically between 2020 and 2022, as per the Canadian Animal Health Institute (CAHI). According to CAHI forecasts for 2022, the annual medicalization rate for dogs remained stable at 86%, while the medicalization rate for cats climbed by over 3%. This indicated that more pet cats visited veterinarians between 2020 and 2022. Therefore, the necessity for treating a variety of illnesses, such as arthritis in dogs and cats, rises along with the proportion of people who own pets.

Animal Sedative Market Report Highlights

• Based on animal type, dogs held the dominant share of the market in 2023, as sedatives are more commonly used in dogs for several reasons.
• Based on route of administration, parenteral dominated the market in 2023. The parenteral route of administration provides a much quicker onset of action compared to oral sedatives.
• In terms of application, the surgical segment dominated the market in 2023. It is also anticipated to grow at the fastest CAGR over the forecast period. The rising number of surgeries in animals indeed plays a significant role in driving the demand for animal sedatives.
• In terms of end use, hospitals dominated the market with a share of over 53.00% in 2023. This can be attributed to the growing patient footfall in these hospitals to treat these diseases in animals.
• Based on drug class, Alpha-2 Adrenergic Receptor Agonists dominated the market in 2023. It is also anticipated to grow at the fastest CAGR over the forecast period.
• In 2023, North America held the largest revenue share of 38.57% in the market. The market is driven by the presence of established players and increasing demand for treatment among veterinary practices.

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