Pet Diabetes Care Devices Market
The pet diabetes care devices market share is expected to grow from an estimated US$ 2.3 billion in 2023 to US$ 4.3 billion by 2033. The market is expected to grow at a compound annual growth rate (CAGR) of 6.2% in total of the forecast period.
The demand for innovative diabetes care equipment for pets is growing as awareness of pet health and welfare increases. To maintain the health and quality of life of companion animals with diabetes, these devices are essential for monitoring and managing the condition. The positive prognosis of the market shows a shared dedication to offering efficient and specialized pet health care solutions, which indicates a great advancement in the field of veterinary care.
How Are Veterinary Clinics Driving Market Growth?
Veterinary clinics play an important role in the rise of the global market during the forecast period. Health care professionals and animal caretakers in veterinary clinics are promoting pet diabetes care equipment for better pet care. These devices visualize pet health care by monitoring and managing common health issues to prevent complications.
Pet diabetes care devices include insulin pens, glucose monitoring systems, and glucose meters. This pet diabetes is designed in various sizes and shapes and adds advanced features for easy access. Veterinary clinics inform pet owners about pet conditions and guide them about devices and their benefits. They teach pet owners to provide better nutritious food and monitor blood glucose.
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Veterinary clinics provide pets with diabetes care to their clients to regularly monitor their pets at home. They also provide training in using these devices with comprehensive care. The number of pets diagnosed with diabetes continues to rise, and the demand for diabetic care pets is increasing. Veterinary clinics play an important role in expanding the market by offering pet owners a better tool to support the health conditions of their pets.
Key Takeaways:
- The pet diabetes care devices market registers a CAGR of 6.2% with a value of US$ 4.3 billion by 2033.
- Historically, the market has achieved a CAGR of 5.7%, with a value of US$ 1.7 billion in 2018.
- The United States is a prominent leader in the global market, registering a share of 27% during the forecast period.
- China is one of the significant countries in Asia Pacific which has achieved a CAGR of 8.20% by 2033.
- During the forecast period, India is registering a CAGR of 7.50% in the global market.
How Are Key Players Focusing on Adding Values to the Global Market?
Key players are focusing on innovating pets for diabetes care by adding advanced features resulting in accuracy, convenience, and ease of use. Major players are placing small sensors in these devices to monitor pets’ health conditions, such as blood glucose levels. These devices work on a real-time basis as pet owners monitor the condition of their pets and provide them with healthy nutrition with a proper meal plan.
Major players are making specially designed insulin syringes to provide more accurate information than other devices. These devices provide rapid results, increasing the use of pet health care to treat difficult health conditions of pets. Conversely, pet owner guidance, growing awareness, and innovation in easily accessible pet care devices are improving pet health.
Recent Global Developments Devices for Pet Diabetes Care The market is:
- In September 2021, Zoetis Inc launched its new product VETSCAN IMAGYST. This device offers to monitor diabetes and health conditions of pets.
- In July 2021, Merck Animal Health launched Vetsulin to manage diabetes in pets.
- In 2020, IDEXX Laboratories announced its new device IDEXX SDMA Test to detect kidney disease in cats and dogs as well as complications of diabetes.
- In 2019, Vetoquinol announced its acquisition of Epitopix to provide vaccinations for pets diagnosed with diabetes.
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Pet Diabetes Care Devices Market by Category
By Animal Type:
By Device:
- Insulin Delivery Devices
- Insulin Delivery Pen
- Insulin Syringes
- Glucose Monitoring Devices
By End User:
- Veterinary Clinics
- Home Care Settings
- Veterinary Hospitals
Region:
- North America
- Europe
- Latin America
- Asia-Pacific
- The Middle East and Africa
Author By:
Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) has over 12 years of experience in the Healthcare, Medical Device, and Pharmaceutical industries. His inquisitive and analytical nature helped him shape his career as a researcher.
Identifying key challenges facing clients and developing robust, hypothesis-driven solutions to empower them with strategic decision-making capabilities. His main expertise is in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.
Holding a degree in Microbiology, Sabyasachi has authored numerous publications and been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.
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