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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

  • Report ID: GMI4444
  • Published Date: Dec 2022
  • Report Format: PDF

Industry Statistics

Pet Diabetes Care Devices Market size registered a valuation of more than USD 2 billion in 2022. Driven by significant rise in cost of pet healthcare, the industry is estimated to progress at over 7% CAGR from 2023 to 2032.
 

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Substantial growth in pet healthcare expenditure across the world is expected to foster market progress. A rise in the adoption of pets is estimated to increase the spending on healthcare needs, which is enhancing the overall industry scenario.
 

Moreover, the increasing cases of diabetes, especially among dogs has elevated the demand for pet diabetes care devices. The rising popularity of pet parenting has encouraged owners to spend more on pet health. This is leading to an increase in the diagnosis of pet diabetes that has the potential to emerge at any age, thereby stimulating the market over the coming years. Additionally, the high disposable income of pet owners to give an organic lifestyle to their pets is further bolstering business expansion.
 

Adverse effects of diabetes drugs may restrain industry progression

Side effects associated with diabetes medications are a major factor restraining the pet diabetes care devices market share. An insulin overdose can trigger hypoglycemia, which is the most common side effect of diabetes medication. Furthermore, prominent market players are emphasizing innovative diabetes care device development, which is adversely affecting its adoption rate due to high side effects, thereby hampering the industry expansion. Nonetheless, intensifying R&D programs to overcome this issue is poised to propel product demand.
 

Widespread efforts to innovate insulin technology to favor the insulin delivery devices segment

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With respect to devices, pet diabetes care devices market is divided into glucose monitoring devices and insulin delivery devices. Insulin delivery devices segment held over 91.5% market share in 2022. Growing technological developments in insulin delivery devices, such as the insulin pen, which enable more accurate and precise administration of insulin doses are fueling the segment outreach. Top competitors in this market have also made unique developments in other insulin devices, which is set to significantly accelerate the industry's growth over the coming years.
 

Burgeoning pet health spending to accelerate dogs segment expansion

Segment

Market share (%), 2022

Cats 41.4%
Dogs 54.6%
Horses 3.9%

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Based on animals, industry is classified into cats, horses, and dogs. Pet diabetes care devices market share from dogs segment is primed to depict more than 7.5% CAGR between 2023 and 2032. Dogs are regarded as humans' best friends and are considered beneficial for both the physical and mental health of humans. It has resulted in the rising adoption of dogs as pets. Thus, surging pet parenting influence is estimated to contribute to greater pet health costs and demand for pet diabetic care equipment during the study period.
 

Easy availability of emergency services in veterinary hospitals to define the industry landscape

In terms of end-use, pet diabetes care devices market is segregated into home care settings, veterinary clinics, and veterinary hospitals. Veterinary hospitals segment is slated to surpass a valuation of USD 2 billion by 2032. The swelling number of animals needing emergency treatment in veterinary facilities, along with the cumulative healthcare spending, is expected to impel segment statistics. In addition, the need for pet diabetic treatment equipment in veterinary hospital settings has significantly increased due to the rising prevalence of pet diabetes globally.
 

Growing awareness of diabetes treatment in pets to augment European market revenues

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Europe pet diabetes care devices market is expected to surpass USD 1.4 billion in revenue by the end of 2032. The increasing prevalence of pet diabetes in the region is aiding industry expansion. Additionally, the mounting awareness pertaining to diabetes treatment, strong presence of major industry players, increased R&D initiatives for the development of novel products, and escalating pet healthcare concerns are providing lucrative opportunities for regional market statistics.
 

Increasing R&D initiatives to strengthen the industry outlook

Allison Medical, Becton, Boehringer Ingelheim Vetmedica Inc., Henry Schein Animal Health, FitBark, Merck Animal Health, TaiDoc, Ulticare, Zoetis, Dickinson and Company, and Teco Diagnostics are some key participants in the pet diabetes care devices industry. These companies majorly focus on strategic partnerships and collaborations to stay ahead in the competitive landscape.
 

Impact of COVID-19 on the pet diabetes care devices market trends

The advent of the COVID-19 pandemic had a negative impact on the overall sales of the pet diabetes care devices industry as a result of disruptions in the global supply chain. However, this was largely offset by the rise in demand from pet owners who wanted to stock necessary pet care items, such as diabetic devices. Additionally, since several leading market participants were recognized as crucial service providers, manufacturers were encouraged to continue business as per the pre-pandemic scenario, thereby resulting in a limited impact on industry revenue.
 

The pet diabetes care devices market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD Million from 2018 to 2032 for the following segments:

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

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

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

 

Authors: Rupali Swain, Subodh Kharad

Frequently Asked Questions (FAQ) :

Global Industry size for Pet Diabetes Care Devices was valued at more than USD 2 billion in 2022 and is set to progress at over 7% CAGR over the next 10 years owing to the significant disposable incomes of pet owners who strive to provide organic lifestyle to their pets.
Veterinary hospitals segment is anticipated to surpass a valuation of USD 2 billion by 2032 on account of the swelling number of animals needing emergency treatment along with the cumulative healthcare spending.
Insulin delivery devices segment held over 91.5% of the market share in 2022 as a result of surging technological developments in insulin delivery devices, such as the insulin pen, which enables accurate and precise administration of insulin doses.
Pet diabetes care devices market in Europe is slated to surpass USD 1.4 billion in revenue by the end of 2032 as a result of increased R&D initiatives for the development of novel products along with escalating pet healthcare concerns in the region.

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Premium Report Details

  • Base Year: 2022
  • Companies covered: 10
  • Tables & Figures: 248
  • Countries covered: 19
  • Pages: 140
  • Upcoming Report: Details can be customized to meet your information and data needs. Feel free to share your detailed research requirements via this form.

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