New York, Dec. 21, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Veterinary Pain Management Global Market Report 2022: Ukraine-Russia War Impact" - https://www.reportlinker.com/p06374674/?utm_source=GNW
The global veterinary pain management market is expected to grow from $1.54 billion in 2021 to $1.71 billion in 2022 at a compound annual growth rate (CAGR) of 11.2%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, effecting many markets across the globe. The veterinary pain management market is expected to reach $2.40 billion in 2026 at a CAGR of 8.8%.
Veterinary pain management market consists of revenues earned by entities by anesthetics, opioids, nonsteroidal anti-inflammatory drugs (NSIDs), alpha-2 agonists, and disease-modifying osteoarthritis agents.The market value includes the value of related goods sold by the service provider or included within the service offering.
Only goods and services traded between entities or sold to end consumers are included.The market consists of sales of laser therapy devices, electromagnetic therapy devices.
Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers.
Veterinary pain management refers to a method that uses medicines and related products to support healing and recovery and to identify and treat the underlying condition to maintain the quality of health of an animal.
North America was the largest region in the veterinary pain management market in 2021.Asia Pacific is expected to be the fastest-growing region in the forecast period.
The regions covered in the veterinary pain management market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The market value is defined as the revenues that enterprises gain from goods and/or services sold within the specified market and geography through sales, grants, or donations in terms of currency (in USD ($) unless otherwise specified).
The revenues for a specified geography are consumption values – that is, they are revenues generated by organizations in the specified geography within the specified market, irrespective of where they are produced. It does not include revenues from resales either further along the supply chain or as part of other products.
The main products in veterinary pain management are drugs and devices.Drugs refer to anything (apart from food) that is used to cure or relieve the symptoms of an illness or other abnormal state.
The different types of animals include companion animals and livestock and involve several distributed channels such as hospitals and clinics and pharmacy channels. It is are used in joint pain, postoperative pain, cancer, and other applications.
An increasing number of veterinary practitioners is expected to propel the veterinary pain management market going forward.Veterinary practitioners refer to the qualified person that specializes in substantial and advanced training in particular animal species and practice areas among veterinarians.
Veterinary pain management requires specialized methods to deal with animals’ pain.That has resulted in a rising number of veterinary practitioners who have the capability to address the causes that create pain in animals.
For instance, in February 2022, according to Veterinary Information Network Inc., a US-based online community of veterinarians, In the US, there are 121,461 veterinarians in 2022. Therefore, an increasing number of veterinary practitioners is driving the demand for the veterinary pain management market.
Technological advancements are a key trend gaining popularity in the veterinary pain management market.Major players operating veterinary pain management market are concentrating their efforts on creating innovative and technologically advanced technologies to sustain their position in the market.
For instance, in February 2022, Merck Animal Health, a US-based company specializing in the development of animal drugs, launched SenseHub Feedlot based on electronic ear tag technology.The SenseHub Feedlot is composed of a reusable ear tag and an installed antenna and an infrared thermistor that can collect, save, and share information from a gateway to a data platform.
SenseHub Feedlot is a technology-enabled solution that detects illness more quickly, reliably diagnoses a disease, and detects illness earlier to effectively manage pain in cattle than by ocular inspection.
In September 2022, Zoetis Inc. a US-based animal health company that produces medicines and vaccines acquired NewMetrica for an undisclosed amount. Through this acquisition, Zoetis increases its pain management portfolio for animal diseases, improves quality-of-life assessment capabilities, and extends product reach to Europe. NewMetrica is a UK-based company that develops instruments and devices for pain management in animals.
The countries covered in the veterinary pain management market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The veterinary pain management market research report is one of a series of new reports that provides veterinary pain management market statistics, including veterinary pain management industry global market size, regional shares, competitors with veterinary pain management market share, detailed veterinary pain management market segments, market trends, and opportunities, and any further data you may need to thrive in the veterinary pain management industry. This veterinary pain management market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
Read the full report: https://www.reportlinker.com/p06374674/?utm_source=GNW
About Reportlinker
ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place.
__________________________
