Companion Animal Arthritis Market Projected to Grow at CAGR of 7.0% and Generate Revenue of $5,520.5 Million by 2031

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The global companion animal arthritis market size is predicted to be valued at $5,520.5 million by 2031, surging from $2,875.5million in 2021, at a CAGR of 7.0%.

Impact Analysis of COVID-19 on Companion Animal Arthritis Market

COVID-19 has brought several challenges for the veterinary care sector which has, in turn, affected the companion animal arthritis market growth. This is because veterinarians had to quickly respond to the pandemic by providing safe treatment facilities and embracing digital care to ensure continuity in the business. Even though the veterinary practices were categorized under essential services, most of the pet owners had to delay their vet visits due to the spread of the COVID-19 virus. Though access to medicines was available, the routine treatments and checkups for bone health of companion animals and tick, flea, and worming products were delayed. All these factors have negatively impacted the companion animal arthritis market size during the pandemic.

To cope with the uncertainties led by the pandemic, majority of the veterinary doctors have started offering remote or digital consultations. The surge in interest in online veterinary services was seen across the UK, the U.S., France, and other countries.

Global Companion Animal Arthritis Market Analysis

A significant rise in the companion animal population along with growing awareness regarding companion animal healthcare is estimated to boost the companion animal arthritis market demand in the upcoming years.  Pets and their adoption are rapidly increasing across the world as it offers various health benefits that help in reducing stress, and blood pressure due to the unconditional love that these pets shower on humans. Owing to this, the veterinary business has developed. Middle-class households are increasingly adopting pets as a result of new trends in nuclear families and the rise in average incomes. Hence, such an increase in the adoption of pet animals such as dogs and cats is linked to an increase in the companion animal arthritis market growth. This is because arthritis is very common in dogs and cats which causes inflammation of joints that leads to stiffness, limping, and lameness among pets. Arthritis in pets, as in humans, can be uncomfortable which can impede their ability to move and even exercise which needs immediate treatment and medications. These factors are estimated to boost the companion animal arthritis market share during the forecast period.

However, the high cost of arthritis treatment is estimated to restrain the companion animal arthritis market size in the upcoming years. For instance, arthritis is the 7^th most common disease that dogs suffer from and the treatment cost for the same is around $324 every year. Also, to reduce the treatment cost, pet owners must have pet insurance as the treatment cost can vary.

The increase in the cost of pet care in both, emerging and established nations represents a huge opportunity for the companion animal arthritis market expansion. For instance, in September 2021, The American Kennel Club (AKC) stated that pet owners in the U.S. are spending more money on their pets' wellness and related healthcare goods. According to the American Pet Products Association, the entire pet business sale has increased. According to the AKC, Internet veterinary goods purchases jumped by 86% because of the pandemic. The popularity of popular dog breeds has also increased the demand for routine veterinarian care which is estimated to have a positive impact on the companion animal arthritis industry during the forecast period.

Global Companion Animal Arthritis Market Share, Segmentation

The companion animal arthritis market is segmented based on companion type, arthritis type, treatment, distribution channel, and region.

Companion Type:

By companion type, the market is further classified into dog, cat, and horse. Among these, the dog segment accounted for the highest market size in 2021, as dogs are widely adopted as a pet across the world. For instance, the U.S. is the world leader in the adoption of dogs and cats and more than half of the U.S. citizens have a dog or cat in their household. In Brazil, the growth in the middle-class population has increased the popularity of pet ownership in recent years. Also, Greater Sao Paolo has a huge population of stray dogs and abandoned pets that pass away due to improper veterinary care. Age-related cartilage degeneration, inadequate joint confirmation, and joint injury are the three most prevalent causes of arthritis in dogs. These factors are anticipated to boost the popularity of the dog segment in the upcoming years.

Arthritis Type:

By arthritis type, the market is further classified into osteoarthritis and rheumatoid arthritis. Among these, the osteoarthritis segment accounted for the highest market size in 2021. Osteoarthritis (OA) is a common disease in dogs and cats. It is classified as a low-grade inflammatory, degenerative joint condition. OA is caused by articular cartilage deterioration and abnormal repair, as well as changes in bone metabolism, osteophytosis, and synovial inflammation. Large breeds and senior dogs such as Golden Retrievers, German Shepherds, Great Danes, and Rottweilers are at risk of getting arthritis at some point of time in their life. Obesity is another factor that causes osteoarthritis in dogs as weight puts stress on joints and triggers inflammation.

Treatment:

By treatment, the companion animal arthritis market is further classified into exercise, medical, and others. Among these, the medical segment accounted for the highest market in 2021. This is because arthritis among companion animals is mostly treated through medical care and medicines as it helps in faster recovery. Depending on the underlying cause of arthritis, surgery may be the best therapeutic option. Repairing injured ligaments, such as a ruptured CCL or bones, surgically may alleviate discomfort and enhance joint function. Hip or knee replacements are also a possibility in severe cases of arthritis.

Distribution Channel:

By distribution channel, the market is further classified into online store, pet supply store, veterinary hospitals and clinics, and others. Among these, the pet supply store segment accounted for the highest market size in 2021. Pet supply stores are convenient and they offer good discounts on various products including medications for treating arthritis in companion animals. These pet supply stores offer a good shopping experience as they help in discovering new products and can also prompt new ideas that can improve a pet’s life. These stores can also give tips to pet owners about pet events, training classes, and good dog walks around the town that can keep pets healthy. This will also help in reducing obesity issue which is the major cause of arthritis in pets.

Region:

The North America companion animal arthritis market is projected to show the fastest growth. The regional market generated the highest market share in 2021. Some of the major factors driving the companion animal arthritis market growth in North America include an increase in treatment availability, a rise in diagnostic rates, and an increase in pet population and expenditure. This is due to an increase in animal healthcare expenditure and disposable income in important markets, as well as an increase in health awareness in developing countries. The growing need for thorough and fast diagnosis of companion animal arthritis in the U.S. and Canada is estimated to boost the North America companion animal arthritis market size during the forecast period.

Key Players in Global Companion Animal Arthritis is Market

Some of the leading companion animal arthritis market players are 

• Zoetis
• Virbac
• Elanco
• Boehringer Ingelheim International GmbH
• CEVA Logistics
• Dechra Pharmaceuticals plc.
• Vetoquinol
• NexGen Pharmaceuticals
• Norbrook.