Pet Diabetes Care Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Pet Diabetes Care Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The pet diabetes care market is estimated to register a CAGR of 8.15% during the forecast period (2022-2027).

COVID-19 had affected the pet diabetes market significantly. The COVID-19 pandemic imposed hurdles and concerns in the global pet animal health sector, including decreased marketing and sales efforts, reduced people visiting veterinary clinics, cancellation of regular pet check-ups, and fewer instances of insulin administration in veterinary facilities. As per the article published in 2021 under the title “Diabetes among dogs increased by 10-20% during pandemic: Vets”, cases of diabetes in dogs have increased 10-20% during COVID-19. Due to the increased lockdown and restrictions, there was a lack of routine checkups which lead to more cases of diabetes in dogs. Hence COVID-19 had a notable impact in the pet diabetic care market.

The major factors for the growth of the market include the rising prevalence of diabetes in pet animals, an increase in pet adoption, and the growing pet population. For instance, as per the American Pet Products Association's 2021-2022 National Pet Owners Survey, 69 million United States Household has a dog as a pet and 45.3 million households has a cat as a pet. The past few years have observed a significant rise in the adoption of animals, including dogs and cats as the favorite companions of human beings. Dogs and cats are not only the most preferred pets but are also known to improve the physical and mental health of humans. The developed countries have the leading position in companion animal ownership, owing to several factors, like favorable economic conditions, among others.

Furthermore, according to the American Pet Products Association's 2021-2022 National Pet Owners Survey, the basic annual expenses for Dogs and Cats for surgical vets are USD 458 and USD 201 respectively. Thus, the rise in adoption of pet animals is expected to increase the spending on health care needs of these animals which would in turn expected to boost the growth of the market over the forecast period.

Therefore, the market studied has a remarkable size, supported by the high population of pet animals, particularly cats and dogs. Hence, the increase in pet adoption has helped in driving the pet diabetes market over the forecast period. However, the high cost of diabetic medication and side effects relating to medicines and insulin restrain the market growth.

Key Market TrendsInsulin Therapy Segment by Drug Type is expected to Hold Largest Market Share

Insulin treatment for diabetic dogs and cats is the foundation of care and many types of insulin were shown to be efficient. Insulin reduces blood glucose levels by increasing peripheral consumption of glucose and by suppressing the production of hepatic glucose. Insulin prevents the development of the death of beta-cells by reducing the cell’s tolerance of glucose. Among cats, insulin helps to prohibit amyloid deposits from the amyloid polypeptide islet from developing. Therefore, insulin is undoubtedly the most effective remedy for the control of diabetes in canines and felines.

The presence of competitors, research and development in the field of diabetes, and mergers and acquisitions boost the market growth. For instance, as per the article published in 2022 under the title “Ultra‐long‐acting recombinant insulin for the treatment of diabetes mellitus in dogs”, the study showed that control of clinical signs, body weight, and maintenance of glycemia was achieved with a recombinant fusion protein of synthetic insulin and canine Fc (AKS‐218d) administered subcutaneously once‐weekly. Furthermore, Caninsulin / Vetsulin and ProZinc are officially registered for veterinary use. Caninsulin / Vetsulin is porcine Lente insulin approved for use in both dogs and cats. It has a moderate duration of action. While, ProZinc (Boehringer Ingelheim) is a derivative of protamine zinc insulin (PZI), which is approved to be used in cats and can be used in the management of diabetic dogs.

Moreover, diabetes in cats is also being studied widely and research is conducted which leads to market growth. For instance, according to the article published in 2021 under the title “An ultra-long-acting recombinant insulin for the treatment of diabetes mellitus in cats”, the study showed a successful control of clinical signs and maintenance of glycemia was achieved with this once-weekly novel insulin treatment. The rising cases of diabetes and increased research initiatives on pet diabetes are expected to create more opportunities for the market players over the forecast period.

As per the factors mentioned above, the insulin segment is expected to grow over the forecast period.

North America is Expected to Dominate the Market During The Forecast Period

In North America region the rising pet adoption and increasing expenditure on them are expected to boost the overall growth of the market. According to the 2021-2022 National Pet Owners Survey, conducted by the American Pet Products Association (APPA), total pet industry expenditures in the United totaled USD 123.6 billion, up 19% from USD 103.6 billion in 2020.

Furthermore, the North American Pet Health Insurance Association’s (NAPHIA) State of the Industry Report 2022 Highlights stated that the total premium volume for pet insurance in the United States was nearly USD 2.6 billion. The total number of pets insured in the United States at year-end 2021 was 3.9 million, a 28% increase since 2020. The average accident and illness premium for dogs was USD 583 a year or USD 49 a month. The largest share of insured pets lives in California, New York, and Florida. The largest number of pets insured were dogs at 82 % versus cats at 18 %. In Canada, 77.5% of insured pets were dogs versus 22.5% of cats.

The key players operating in the market are found focusing on new strategies, such as acquisitions, collaborations, research, and new product launches, to capture larger market shares. For instance, in February 2021, Canine Diabetes Genetics Partnership published an article under the title ' Genetics of canine diabetes mellitus part 1: Phenotypes of disease', the team studied and demonstrated the ways in which genetic variants may contribute to a risk of developing diabetes in dogs and the related complexities.

As per the factors mentioned above the North, America region is expected to witness growth over the forecast period.

Competitive Landscape

The pet diabetes care market is consolidated market. Some of the market players in the market are Allison Medical, Apotex Inc., Becton, Dickinson and Company, Boehringer Ingelheim Vetmedica Inc., Henry Schein Animal Health​, MED TRUST, Merck & Co.​ Inc, UltiMed Inc., and Zoetis Inc.

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