Pet Care Diabetes Drugs Market Size Expected to Exceed USD

Wilmington, Delaware, United States, Jan. 29, 2024 (GLOBE NEWSWIRE) — Transparency Market Research Inc. – tea pet care drugs for diabetes The industry was valued at US$ 621.8 million in 2022. By 2031, the market is expected to to reach more than US$1.1 billion and grow to 6.4% CAGR from 2023 to 2031. Insulin therapy, dietary modification and routine monitoring are often used to treat diabetes in pets, especially cats and dogs. Insulin injections are a common practice to regulate blood glucose levels. In addition to monitoring blood glucose levels, veterinary care includes treating any underlying medical conditions and modifying insulin dosage as needed.

Researchers can investigate new insulin or delivery systems to improve the effectiveness and convenience of administration for pet owners. Glucose monitoring (CGM) technology is becoming increasingly common in human health, and soon, pet owners will have access to similar advances. As a result, diabetes care can be improved with more real-time data.

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Recent developments in gene therapy may present new therapeutic approaches for canine diabetes. This can be the addition of genes that improve insulin production or change the genetic components that cause diabetes. Future studies could create personalized diet plans or dietary supplements that can help animals with diabetes manage their disease more effectively.

Research on stem cells shows promise for many medical uses, including the treatment of animal diabetes. Pancreatic cells that produce insulin can be regenerated with stem cells. Treatment regimens that are more individualized and tailored to the unique needs of each animal may become more common as our understanding of the genetic and individual variables that impact diabetes in animals progresses.

Key findings of the market report

• A strong healthcare infrastructure in North America contributed to the largest share of North America in 2022.
• Based on product type, insulin drugs are expected to drive the demand for animal care drugs for diabetes.
• The growing adoption of dogs is expected to drive the demand for diabetes drugs for pets.
• An increasing number of veterinary hospitals is expected to fuel the market for animal care drugs.

Global Animal Care Drugs Market: Key Players

The market presence of these players has been expanded via mergers and acquisitions, strategic collaborations and new product launches.

• Boehringer Ingelheim International GmbH
• Elanco
• Merck Animal Health

Key developments

• In August 2023, Boehringer Ingelheim announced the approval of the treatment for diabetes in cats, SENVELGO® (velagliflozin oral solution), by the Food and Drug Administration (FDA) of the United States. With SENVELGO ® , cat owners can administer a liquid oral solution once a week to their cats without giving them food.
• In December 2023, Elanco Animal Health launched the US Food and Drug Administration (FDA) approved Bexacat. This prescription medication helps control blood sugar levels in cats with diabetes mellitus, allowing Elanco to expand its innovative feline portfolio and address an unmet cat health need.

Global Pet Care Drugs Market: Growth Drivers

• The growing trend of pet ownership around the world is a major contributor to this increase. Dog owners are more likely to need diabetes treatment as dogs become more common in the home. With a growing pet population and the perception that pets are essential members of the family, pet owners are more willing to spend money on top-of-the-line medical care.
• Advances in veterinary medicine are crucial to growth of the animal care drugs market. Through continuous research and development, veterinary pharmaceutical companies are developing drugs that manage diabetes in pets more effectively and safely. Pet owners are encouraged to seek professional medical care for their diabetic pets, increasing the demand for diabetes medications.
• The growth of the pet care drugs market is attributed to the increase in global spending on animal health. The overall cost of medications, veterinary services and preventive care has increased as pet owners have prioritized the health of their pets.
• Access to pet insurance that covers chronic conditions like diabetes encourages financial commitment to pet health. These factors are consistent with the evolving landscape of animal care, which emphasizes ensuring that companion animals live long and healthy lives.

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Global Animal Care Diabetes Drug Market: Regional Landscape

• Pet ownership has been steadily increasing across Asia as more individuals adopt dogs, cats and other companion animals. The trend is largely attributed to lifestyle changes, rising disposable income and urbanization. The increase in pet ownership has increased the demand for pet health supplies such as diabetes medications.
• Attitudes towards animals have changed dramatically in many Asia-Pacific nations. Since animals are considered members of the family, people are more inclined to take care of their health and well-being. As a result of this change, cutting-edge medical interventions, such as drugs that could treat long-term diseases such as diabetes, have become increasingly necessary.
• As animal health awareness and advanced veterinary care become more prevalent Asia Pacific, the pet care market is expected to grow. Health problems found in pets are becoming more known by pet owners, leading to proactive approaches to treatment, including managing chronic conditions such as diabetes.

Global Animal Care Drugs Market: Segmentation

By type of product

• Insulin drugs
• SGLT2 inhibitors
• Others

By type of animal

For the End User

• Veterinary Pharmacies
• Retail Pharmacies
• Others

By Region

• North America
• Europe
• Rest of the world

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