Pet Diabetes Care Devices Market Size By Device (Glucose Monitoring Devices, Insulin Delivery Devices {Insulin Delivery Pen, Insulin Syringes}), By Animal (Cats, Dogs, Horses), By End-use (Veterinary Clinics, Home Care Settings, Veterinary Hospitals), Ind

Pet Diabetes Care Devices Market Size By Device (Glucose Monitoring Devices, Insulin Delivery Devices {Insulin Delivery Pen, Insulin Syringes}), By Animal (Cats, Dogs, Horses), By End-use (Veterinary Clinics, Home Care Settings, Veterinary Hospitals), Industry Analysis Report, Regional Outlook, Application Potential, Competitive Market Share & Forecast, 2023 - 2032

Pet Diabetes Care Devices Market is set to register significant growth through 2032, primarily owing to the increasing incidences of obesity and reluctant cases of diabetes among pets. In 2021, the overall prevalence of diabetes mellitus in canines was recorded to be approximately 5.5%.

In addition, continuous research is being conducted in the field of pet diabetes, which has yielded positive results. This, in turn, is anticipated to fuel the market demand for pet diabetes care devices. To cite an instance, in November 2022, a team of researchers from CUVET, Thailand, successfully developed a method of cell transplantation technology, and to culture pancreatic cells of dogs, from stem cells. As per the research, the new method will be tested on animals suffering from diabetes.

Overall, the pet diabetes care devices market has been segmented on the basis of device, animal, end-use, and region.

Based on the device, the market is likely to be characterized by the glucose monitoring devices segment which will experience robust growth between 2023 and 2032. The segmental growth can be attributed to the increasing trend of pet adoption in developing and developed economies. According to a report by the Humane Society, 31% of cats and 28% of dogs are adopted from animal shelters every year. Besides, a large number of pet animals are treated in veterinary clinics and hospitals, which will eventually increase the product demand.

In terms of animals, the cats segment will grow at a significant rate through 2032. The segment accounted for more than USD 1 billion in terms of revenues in 2022. The increasing cases of diabetes in cats and the availability of various medications to treat diabetes mellitus in cats will fuel the market growth.

On the basis of end-use, the veterinary clinics segment is anticipated to witness robust growth through 2023-2032. The expansion can be ascribed to the increasing number of veterinary establishments in developing and developed countries. Moreover, there is a growing inclination amongst pet owners to take their pets to veterinary clinics, as they are both time-saving and cost-effective, which will further fuel the market demand in the upcoming time.

In the regional context, the Asia Pacific pet diabetes care devices market will grow at more than 8% CAGR through 2023-2032, owing to the increased spending on pet healthcare in countries such as Australia and Japan. Recent research by Japanese Ipet Holdings represented that the overall expenditure of pet parents increased by 4.3% in 2021, compared to 2020. In addition, the high disposable income of pet owners and increasing concern about pet healthcare will also augment the regional market demand.