- North America held the largest market share of 37% in 2023.
- The Asia-Pacific region is observed to witness the fastest rate of expansion during the forecast period.
- By device, the insulin delivery devices segment has contributed more than 93% of the market share in 2023.
- By animal, the dogs segment led the market with the major market share of 55% in 2023.
- By end-users, the veterinary hospitals segment has recorded more than 42% of the market share in 2023.
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Growth Factors:
Several factors contribute to the growth of the pet diabetes care devices market. Firstly, the rising incidence of diabetes in pets, attributed to factors such as obesity, genetic predisposition, and changes in pet lifestyle, drives the demand for diabetes management solutions. As pet owners become more aware of the signs and symptoms of diabetes in their pets, there is a growing need for reliable and convenient devices to monitor blood glucose levels and administer insulin therapy effectively.
Moreover, the increasing humanization of pets and the growing willingness of pet owners to invest in their pets’ health contribute to market growth. Pet owners view their pets as members of the family and are willing to spend on advanced healthcare solutions to ensure their well-being. This trend has led to a surge in demand for pet diabetes care devices that offer convenience, accuracy, and ease of use.
Furthermore, advancements in veterinary medicine and technology have led to the development of innovative pet diabetes care devices with enhanced features and functionalities. Continuous glucose monitoring systems, insulin pumps, and smartphone-connected glucose meters are among the cutting-edge devices available in the market, providing pet owners and veterinarians with real-time insights into their pets’ glucose levels and facilitating personalized diabetes management plans.
Additionally, favorable government initiatives and regulations promoting pet health and welfare drive market growth. Regulatory agencies and veterinary organizations worldwide emphasize the importance of regular monitoring and management of diabetes in pets, encouraging the adoption of advanced diabetes care devices among pet owners and veterinary professionals.
Region Insights:
The adoption of pet diabetes care devices varies across regions, influenced by factors such as pet ownership rates, healthcare infrastructure, and awareness of pet health issues. In North America, the United States and Canada dominate the market, accounting for a significant share of the global pet diabetes care devices market. The region’s high pet ownership rates, advanced veterinary healthcare services, and strong emphasis on pet wellness drive demand for diabetes management solutions.
In Europe, countries such as the United Kingdom, Germany, and France are witnessing steady growth in the pet diabetes care devices market. Increasing pet humanization, rising awareness of pet health, and advancements in veterinary technology contribute to market expansion in the region. Moreover, favorable government regulations and initiatives promoting responsible pet ownership and healthcare further bolster market growth.
In Asia Pacific, countries like Japan, Australia, and China are emerging as lucrative markets for pet diabetes care devices. Rising disposable incomes, urbanization, and changing lifestyles drive pet ownership in the region, creating opportunities for pet healthcare products and services, including diabetes management devices. Moreover, growing awareness of pet health issues and increasing investments in veterinary infrastructure contribute to market growth in Asia Pacific.
In Latin America and the Middle East & Africa, the pet diabetes care devices market is relatively nascent but shows promising growth potential. Rising pet ownership rates, improving standards of living, and increasing awareness of pet health contribute to market development in these regions. Moreover, government initiatives aimed at promoting pet welfare and healthcare infrastructure development support market growth in Latin America and the Middle East & Africa.
Pet Diabetes Care Devices Market Scope
| Report Coverage | Details |
| Growth Rate from 2024 to 2033 | CAGR of 7.05% |
| Global Market Size in 2023 | USD 2.48 Billion |
| Global Market Size by 2033 | USD 4.91 Billion |
| U.S. Market Size in 2023 | USD 640 Million |
| U.S. Market Size by 2033 | USD 1,270 Million |
| Base Year | 2023 |
| Forecast Period | 2024 to 2033 |
| Segments Covered | By Device, By Animal, and By End-use |
| Regions Covered | North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa |
Pet Diabetes Care Devices Market Dynamics
Drivers:
Several drivers propel the growth of the pet diabetes care devices market. Firstly, the increasing prevalence of diabetes in pets, attributed to factors such as obesity, aging pet population, and genetic predisposition, drives demand for diabetes management solutions. As pet owners become more aware of the risks and consequences of untreated diabetes in pets, there is a growing need for reliable and effective devices to monitor blood glucose levels and administer insulin therapy.
Moreover, the humanization of pets and the growing willingness of pet owners to invest in advanced healthcare solutions contribute to market growth. Pet owners consider their pets as integral members of the family and are willing to spend on their health and well-being. This trend has led to a surge in demand for pet diabetes care devices that offer convenience, accuracy, and ease of use, driving market expansion.
Furthermore, advancements in veterinary medicine and technology have led to the development of innovative pet diabetes care devices with enhanced features and functionalities. Continuous glucose monitoring systems, insulin pumps, and smartphone-connected glucose meters are among the advanced devices available in the market, providing pet owners and veterinarians with real-time insights into their pets’ glucose levels and facilitating personalized diabetes management plans.
Additionally, favorable government initiatives and regulations promoting pet health and welfare drive market growth. Regulatory agencies and veterinary organizations worldwide emphasize the importance of regular monitoring and management of diabetes in pets, encouraging the adoption of advanced diabetes care devices among pet owners and veterinary professionals.
Moreover, increasing awareness of pet health issues and the availability of information through online platforms and social media contribute to market growth. Pet owners are increasingly seeking information about pet health conditions, including diabetes, and exploring various treatment options available in the market. This trend fosters demand for pet diabetes care devices and encourages market players to innovate and develop advanced solutions to meet evolving consumer needs.
Opportunities:
The pet diabetes care devices market presents numerous opportunities for growth and innovation. Firstly, there is a growing demand for user-friendly and technologically advanced diabetes management solutions that offer convenience, accuracy, and ease of use. Manufacturers have the opportunity to develop innovative devices with features such as wireless connectivity, smartphone integration, and cloud-based data storage, enabling pet owners and veterinarians to monitor blood glucose levels and manage diabetes more effectively.
Moreover, there is an increasing focus on personalized healthcare solutions tailored to individual pet’s needs. Manufacturers can capitalize on this trend by developing customizable diabetes management devices that allow for personalized treatment plans based on pet’s age, breed, weight, and medical history. Personalized solutions can improve treatment outcomes, enhance pet owner satisfaction, and drive market growth.
Furthermore, expanding distribution channels and increasing market penetration in emerging economies present lucrative opportunities for market players. Manufacturers can collaborate with veterinary clinics, pet hospitals, and retail chains to expand their presence in untapped markets and reach a wider audience of pet owners. Moreover, online platforms and e-commerce channels offer a convenient and accessible way to market and distribute pet diabetes care devices to consumers worldwide, driving sales and revenue growth.
Additionally, there is growing interest in preventive healthcare and wellness among pet owners, leading to the development of integrated healthcare solutions that combine diagnostics, monitoring, and treatment. Manufacturers can capitalize on this trend by offering comprehensive diabetes management kits that include blood glucose monitors, insulin pumps, dietary supplements, and veterinary consultations, providing pet owners with holistic solutions to manage their pets’ diabetes and improve overall health and well-being.
Moreover, partnerships and collaborations between manufacturers, veterinary professionals, and pet healthcare organizations can drive innovation and market expansion. By leveraging collective expertise and resources, stakeholders can develop new products, conduct research, and educate pet owners about the importance of diabetes management and preventive care. Collaboration can also facilitate the development of standardized protocols and guidelines for diabetes diagnosis and treatment, ensuring consistency and quality of care across the veterinary healthcare industry.
Challenges:
Despite the growth opportunities, the pet diabetes care devices market faces several challenges that need to be addressed to unlock its full potential. Firstly, limited awareness and understanding of pet diabetes among pet owners and veterinary professionals pose a challenge to market growth. Many pet owners may not recognize the signs.
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Recent Developments
- In November 2023, Boehringer Ingelheim got approval for SENVELGO® in Europe. This is the first oral liquid medication available for diabetic cats, and it represents a significant advancement in treating feline diabetes in Europe. SENVELGO® can be given to cats once a day, either mixed with a small amount of food or directly administered into their mouth.
- In May 2023, UBI introduced the Petrackr, a diabetes monitoring device for pets. The product consists of a device and single-use test strips for collecting a small drop of blood sample and a hand-held monitor that can supervise multiple profiles of pets. The device accurately tracks, monitors, and displays the blood glucose levels of pets. The product has distribution partnerships in the United States and Canada.
- In Feb 2023, ALRT, a Singapore-based medical device company, launched GluCurve Pet CGM. It is a continuous monitoring device for diabetic cats and dogs produced in collaboration with Covetrus. It is designed to make diabetes management more effortless.
Pet Diabetes Care Devices Market Companies
- Merck animal health
- Becton
- Fitbark
- TaiDoc
- Dickinson
- Allison Medical
- Henry Schein
- Zoetis
- Ulticare
- Boehringer Ingelheim Vetmedica Inc.
- IDEXX Laboratories
- Johnson & Johnson Services, Inc
- Novo Nordisk
- Eli Lilly and Company
- Vetoquinol S.A.
Segments Covered in the Report
By Device
- Glucose Monitoring Devices
- Insulin Delivery Devices
- Insulin Delivery Pen
- Insulin Delivery Syringes
By Animal
- Dogs
- Cats
- Horses
By End-use
- Veterinary Clinics
- Home Care Settings
- Veterinary Hospitals
By Geography
- North America
- Europe
- Asia-Pacific
- Latin America
- Middle East and Africa
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