Pet Diabetes Care Devices Market Size By Device Type (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, 2019 – 2025

Published Date: Nov 2019  |  Report ID: GMI4444  |  Authors: Sumant Ugalmugle, Rupali Swain

Report Format: PDF   |   Pages: 120   |   Base Year: 2018




Summary Table of Contents Industry Coverage Methodology

Industry trends

Pet Diabetes Care Devices Market size surpassed USD 1.4 billion in 2018 and is projected to register 8.5% CAGR up to 2025.
 

Pet Diabetes Care Devices Market

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Diabetes mellitus in pets is a condition that affects the amount of sugar or glucose in the pet’s blood. Diabetes occurs when the animal’s body stops producing insulin completely or has an abnormal response to it. The levels of glucose in the blood are predominantly controlled by insulin, that is secreted by the pancreas. In diabetes, limited amount of glucose is transported into the tissues. Hence, the cells are not able to function normally, and the tissues starve for energy. Such state of metabolic starvation triggers body to break down muscles and fats, which is then converted into sugar by the liver. Increasing prevalence of diabetes among pets is a major concern for their owners, resulting in growing number of pets being diagnosed and monitored. Hence, the aforementioned factor will significantly augment pet diabetes care devices market growth across the forecast timeframe.
 

Diabetes is a complex disease that most often develops in older pets. Unfortunately, there is no permanent cure for diabetes in pets. However, animal diabetes is an ailment that can be easily controlled and managed by pet owners. Traditionally, insulin needles and syringes were the only available drug delivery devices for animals. With advancements in technology and R&D activities, several companies in the market such as Merck and Zoetis introduced blood glucose monitors and insulin delivery pen specifically designed for pets. Hence, such advancements in treatment solutions coupled with increasing concerns among the population about pet’s health are the major factors boosting the market demand.
 

Pet Diabetes Care Devices Market Report Coverage
Report Coverage Details
Base Year: 2018 Market Size in 2018: USD 1.5 Billion
Historical Data for: 2014 to 2018 Forecast Period: 2019 to 2025
Forecast Period 2019 to 2025 CAGR: 8.5% 2025 Value Projection: USD 2.8 Billion
Pages: 120 Tables, Charts & Figures: 242
Geographies covered (19): U.S., Canada, Germany, UK, France, Spain, Italy, Denmark, The Netherlands, China, Japan, India, Australia, South Korea, Brazil, Mexico, Argentina, South Africa, Saudi Arabia
Segments covered: Device type, Animal, End-use and Region
Companies covered (10): Allison medical, Apotex Inc., Boehringer Ingelheim Vetmedica Inc., Becton, Dickinson and Company, Henry Schein Animal Health, Merck Animal Health, Ulticare, TaiDoc, Zoetis, FitBark
Growth Drivers:
  • Rising prevalence of pet diabetes across the globe
  • Increasing pet healthcare expenditure
  • Growing incidence of obesity in pets
Pitfalls & Challenges:
  • Side effects associated with diabetes medications

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Rising technological advancements in the drug delivery devices to tackle pet diabetes will boost product demand

Rising technological advancements in the drug delivery devices is another major factor stimulating industry demand. Insulin therapy is the cornerstone of management for all diabetic pets. Traditionally, insulin syringes and vials have been used, but with advancements in technology, insulin pen devices have recently entered the pet industry. Insulin pen is designed to be used by owners with no formal medical training. These devices make the task of administering and measuring insulin doses less painful, easier and more precise and accurate compared to the traditional insulin syringes. Hence, the aforementioned factors will boost the market demand of such products, thus propelling industry growth.
 

However, side effects associated with diabetes medications in pets might majorly hamper the market growth. Moreover, dearth of knowledge among the population about the ill effects of diabetes in animals is another chief market growth restricting factor.
 

Pet-parenting is growing across the world, thus propelling market size

U.S. Pet Diabetes Care Devices Market Outlook, By Device Type, 2018 (USD Million)
U.S. Pet Diabetes Care Devices Market Outlook, By Device Type, 2018 (USD Million)

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Device type segment includes glucose monitoring devices & insulin delivery devices, and the insulin delivery devices segment is further bifurcated into insulin delivery pen and insulin delivery syringes. The glucose monitoring devices segment is estimated to witness significant growth of 4.3% across the forecast timeframe. High growth is attributed to increasing trend of pet adoption in the developed as well as developing economies. As per pet adoption statistics, U.S. has more than 135 million pets in American homes. With growing adoption of pets, owners are more concerned about their health, thus increasing number of pets being diagnosed and treated. Hence, growing number of pet adoption and rising concerns among their owners regarding their health will considerably augment the market trends.
 

Dogs segment will dominate the overall pet diabetes care devices market demand

Animal segment is classified into dogs, cats and horses. Dogs segment is estimated to hold maximum revenue of 1.6 billion in 2025. High growth is attributed to increasing incidence of obesity among the dogs. Some breeds such as miniature Poodles, Pugs, Dachshunds, Bichons Frises, Miniature Schnauzers, Samoyeds, Puli and few others have higher chances of developing obesity. Hence, increasing incidence of obesity in dogs is one of the major factors leading to diabetes, thus showing a positive market growth trajectory.
 

Increasing usage of glucose monitoring devices and insulin pens in veterinary hospitals will significantly drive industry outlook

End-use segment is divided into veterinary clinics, veterinary hospitals and home care settings. Veterinary hospitals as an end use held significant market share of about 43.0% in 2018. Hospitals will witness significant growth owing to presence of state-of-the-art facilities. Moreover, increasing preference among the population of developing economies for government hospitals due to cost efficiency will further propel segmental growth. Growing usage of insulin delivery pens and monitoring devices in the hospital settings is another important factor stimulating market demand. Also, increasing number of veterinary professionals across the globe will further augment the market expansion.
 

Increasing pet expenditure in the Asian countries will stimulate business growth

Asia Pet Diabetes Care Devices Market Statistics, By Country, 2025 (USD Million)
Asia Pet Diabetes Care Devices Market Statistics, By Country, 2025 (USD Million)

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Asia Pacific pet diabetes care devices industry size is expected to show significant growth of 9.5% across the forecast timeframe. Increasing pet healthcare expenditure in various countries such as China and Australia will majorly impact market outlook. Rising adoption of pets coupled with growing concerns of their owners regarding the pet’s health are few of the significant factors propelling business. Moreover, growing number of companies operating in the companion animal diabetes care devices market are majorly focused on R&D activities to enhance treatment solutions for diabetes in pets. Hence, the aforementioned factors will strongly propel the market trends across the forecast timeframe.
 

Increasing incidence of obesity in pets is one of the chief factors augmenting market growth in North America. Obesity is the primary reason to develop diabetes in animals. Majority of pets in the U.S. are suffering from obesity and more prone to acquire diabetes in their early age. Growing pet adoption is another key factor stimulating regional growth. Moreover, favorable government initiatives to increase awareness among the population about their pet’s health will considerably augment the market outlook in North America.
 

Merck is focusing on development of novel pet diabetes care devices to strengthen its market position

Few of the notable players operating in the industry are Zoetis, Merck, Ulticare, TaiDoc, Bayer, Boehringer Ingelheim Vetmedica Inc. and Allison Medical. These market players are implementing various strategies such as new product launch, acquisitions and collaborations in order to capture high revenue share in animal diabetes care devices business.
 

Recent industry developments:

  • In February 2016, Merck Animal Health announced the launch of Pet Diabetes Tracker, a free app that helps pet owners manage their pet's diabetes on their tablet or smartphone. Such novel product launch assisted the company to attract customers, thus augmenting sales.
     
  • In February 2015, Zoetis completed its acquisition of Abbott’s Animal Health Assets. This strategic initiative enabled the company to strengthen its market presence in pet diabetes care devices business.  
     

Pet diabetes care devices market research report includes an in-depth coverage of the industry with estimates & forecast in terms of revenue in USD from 2014 to 2025, for the following segments:

By Devices Type

  • 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

The above information is provided for the following regions and countries:

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • UK
    • France
    • Spain
    • Italy
    • Denmark
    • The Netherlands
  • Asia Pacific
    • China
    • Japan
    • India
    • Australia
    • South Korea
  • Latin America
    • Brazil
    • Mexico
    • Argentina
  • Middle East and Africa
    • South Africa
    • Saudi Arabia

 

Frequently Asked Questions (FAQ) :

Growing number of pet adoption and rising concerns among their owners regarding their health will be key driving factors for the growth of the market.
The APAC industry will register over 9.5% CAGR from 2019 to 2025, as estimated by GMI.
Veterinary hospitals as an end use segment dominates the industry with 43% revenue share in 2018, owing to presence of state-of-the-art facilities.

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