Latest News- Veterinary Pain Management Market: Drugs is expected to lead the Product segment during 2024-2028
The Veterinary Pain Management Market is being driven by Rising adoption of veterinary pain management due to increasing pet ownership
The Veterinary Pain Management Market is expected to grow at a CAGR of 6.99% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 800.12 million. The global veterinary pain management market is witnessing a notable shift towards multimodal pain management approaches, marking a pivotal transition in veterinary care towards more holistic pain relief solutions for animals. Veterinarians are increasingly adopting a combination of pharmacological interventions, physical therapy, and complementary therapies to create personalized treatment plans that effectively address pain from multiple angles. For instance, a dog undergoing orthopedic surgery may be prescribed a regimen of pain relievers, physical rehabilitation exercises, and acupuncture to manage both acute and chronic pain. This integrative approach allows for a more nuanced and effective response to the varying pain experiences of animals, reflecting a growing recognition of the individual differences in pain perception among species and enhancing overall animal welfare.
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Which Factors Are Causing a Surge in Market Growth?
The market is segmented based on Product (Drugs, Devices) Distribution Channel (Veterinary hospitals, Pet care clinics, Pharmacy stores) Geography (North America, Europe, Asia, Rest of World (ROW)).
According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows:
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Key Features in Veterinary Pain Management Market Research Report
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The Veterinary Pain Management Market encompasses various applications including post-surgical recovery, inflammation in animals, and animal wound healing. Innovative solutions like transcranial Pulsed Electromagnetic Field (tPEMF) therapy offer alternative pain relief for senior pets and animals suffering from arthritis, neurological conditions, and cancer. Non-invasive methods such as therapeutic laser therapy and surgical laser therapy are gaining popularity for chronic injuries and painful diseases. Veterinary clinics provide pet pain relief through topical and oral pain medication, natural remedies, and non-steroidal anti-inflammatory drugs for post-operative pain relief, chronic pain management, and animal welfare. Effective pain assessment and prevention are crucial in veterinary practice for various painful conditions, including surgical purposes and exotic animals.
The Veterinary Pain Management Market is a significant segment of the larger Global Healthcare Equipment Market, according to Technavio's market research. This market encompasses companies and products involved in the research and development (R&D) of various veterinary care solutions, including pain management devices and conventional pharmaceuticals. The global healthcare equipment market's size is determined by the combined revenue generated from manufacturers of diagnostic equipment and devices used across various therapy areas. In the veterinary sector, inflammation and inflammatory damage are common causes of pain in pets. To address this, innovative solutions such as Pulsed Electromagnetic Field (PEMF) therapy and advanced materials are gaining popularity among veterinary professionals. These technologies offer non-invasive, chemical process-free alternatives to traditional pain management methods. PEMF therapy, a form of electromagnetic therapy, utilizes low-frequency electromagnetic fields to stimulate healing and pain relief in pets. This technology is gaining traction due to its ability to promote tissue repair and reduce inflammation without the need for invasive procedures or pharmaceuticals. Moreover, the increasing acceptance of pet insurance and the growing awareness of the importance of pain management in veterinary care are expected to drive market growth. As the demand for effective, non-pharmaceutical pain management solutions continues to rise, companies specializing in veterinary pain management devices are poised to capitalize on this trend.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.
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