The pet diabetes care devices market is capturing a valuation of USD 2.3 billion in 2023 and is expected to reach USD 4.3 billion by 2033. The market is registering a CAGR of 6.2% during the forecast period.
The market is influenced by the rising pet population and increasing prevalence of diabetes among pets. The several factors that drive the global market are:
These factors are anticipated to boost the market share in the coming years.
Stringent Regulations and Limit Awareness Decline the Market Growth
The market has several restraining factors that may limit market growth are:
| Attributes | Details |
|---|---|
| Market CAGR (2023 to 2033) | 6.2% |
| Market Valuation (2023) | USD 2.3 billion |
| Market Valuation (2033) | USD 4.3 billion |
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The market was valued at USD 1.7 billion in 2018 and USD 2.20 billion in 2022. The market secured a CAGR of 5.7% between 2018 and 2022. The market has grown moderately during this period through collaboration and product launches.
The market expanded through various factors such as pet illness, growing pet population, lack of proper meals, and lack of awareness. These essential factors increased the adoption of pet diabetes care devices. The increasing pet healthcare infrastructure and innovation on pet care devices sustain market growth.
Based on animal type, the dog category dominate the global market by securing a share of 48.0% during the forecast period. Dogs are commonly affected by diabetes, which uplifts the demand for pet diabetes care devices. Pet diabetes care devices are beneficial for managing pets' blood glucose and monitoring their health. A few of these devices are insulin pens and syringes.
Other animals, such as cats, rabbits, and horses, are also diagnosed with diabetes that require the same pet care devices. Overall, dogs are highly diagnosed with diabetes and are estimated to lead the global market by 2033. These devices determine accurate results related animal's age, glucose level, weight, and related health conditions.
Based on the device, insulin syringes are leading the global market by registering a share of 32.1% by 2033. Insulin syringes are highly adopted devices to treat pet diabetes around the globe. These insulin syringes are designed in various sizes and shapes to be easily used and deliver insulin doses to pets. The insulin syringes are made of plastic and glass, which are more comfortable and provide better experiences.
Insulin syringes are highly preferred over other devices, such as pumps and insulin pens, due to their lower maintenance cost. These insulin syringes are widely used for vaccinations, blood tests, and administering medications. It includes catheter syringes, safety syringes, and among others.
The demand for insulin syringes is increasing due to its aging demographics, growing population, and prevalence of diabetes and other chronic diseases. These factors play a key role in upsurging the adoption of insulin syringes.
The United States is leading the global market by capturing a share of 27% by 2033. The United States is rapidly growing by increasing pet owners, raising pet health awareness, and government initiatives. Pet owners are increasingly adopting pet diabetes care devices such as monitoring systems, syringes, and insulin pens for treating pets.
The United States pet diabetes care devices market includes key players such as Vetoquinol S.A., Zoetic Inc, IDEXX Laboratories Inc, and Merck & Co. Inc. These companies are developing and innovating technologically advanced products to satisfy end-users' demand. The United States market is estimated to expand due to increasing awareness and growing key players.
The United Kingdom is one of the significant countries that secured a CAGR of 6.30% during the forecast period. The market is growing due to the rising pet population, the prevalence of chronic diseases, and the increasing pet population. These owners are focused to monitor their pet's wellness and are increasing the adoption of pet diabetes.
Key players in the United Kingdom pet diabetes care devices market include Vetsulin, Abbott Laboratories, Medtronic, Novo Nordisk, and Zoetis Inc. These companies are implementing pet care devices with advanced technologies. The United Kingdom has well-established veterinary sectors, such as clinics and hospitals for pet care, specialized professions, and doctors. These healthcare sectors are rising in demand for pet diabetes care devices, significantly fueling the United Kingdom market.
China is registering a CAGR of 8.20% in the global market. Several factor influence China's pet diabetes care devices market are:
These crucial factors upsurge China market to another height.
India is one of the prominent leaders in the Asia Pacific that may secure a CAGR of 7.50% by 2033. India is rapidly growing by rising pet ownership and the growing pet population. Pet care devices are used to treat and monitor pets' healthcare conditions. The increasing disposable income, changing living styles, growing trends, and modernization fuel the Indian pet diabetes care devices market.
The essential players in the country are Dickinson and Company, Zoetis Inc, Novo Nordisk A/S, and Merck & Co. Inc. These players are expanding the market by innovating products with advanced technologies, distribution channels, and collaborations in the country.
The manufacturers are bringing lucrative opportunities in the market by innovating pet care products through various strategic methods. These strategies are as follows:
Manufacturers implement these strategies to provide better healthcare and management for their pet's diabetes.
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The market is highly competitive and presents several key players. These players are investing in research and development activities to develop new marketing strategies to develop better, affordable, unique pet care devices. The key players are adopting several marketing methodologies. Including mergers, acquisitions, product launches, collaborations, and partnerships.
Other Essential Players in the Global Market are:
Recent Developments in the Global Market are:
| Attribute | Details |
|---|---|
| Forecast Period | 2023 to 2033 |
| Historical Data Available for | 2018 to 2022 |
| Market Analysis | USD billion for Value |
| Key Countries Covered | United States, United Kingdom, Japan, India, China, Australia, Germany |
| Key Segments Covered | Animal Type, Device, End Use, Region |
| Key Companies Profiled | Abbot Laboratories, Inc; Virbac; Medtronic plc; Johnson & Johnson Services, Inc; Roche Diagnostics; Bio-Rad Laboratories, Inc; Novo Nordisk A/S; Zoetis Inc; Terumo Corporation; Boehringer Ingelheim International GmbH; IDEXX Laboratories; Johnson & Johnson Services, Inc; Terumo Corporation; Eli Lilly and Company; Vetoquinol S.A. |
| Report Coverage | Market Forecast, Company Share Analysis, Competition Intelligence, Drivers, Restraints, Opportunities and Threats Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives |
| Customization & Pricing | Available upon Request |
The market will rise at a 6.2% CAGR through 2033.
By 2033, the market will reach USD 2.3 billion.
Growing population of pets with diabetes propels market growth.
The 2023 market value is USD 2.3 billion.
By 2033, the market will reach USD 4.3 billion.
| Estimated Market Size (2024E) | USD 64.5 billion |
|---|---|
| Projected Market Value (2034F) | USD 117.7 billion |
| Value-based CAGR (2024 to 2034) | 6.2% |
| Market Valuation (2023) | USD 40.9 billion |
|---|---|
| Market Valuation (2033) | USD 62.3 billion |
| Market CAGR (2023 to 2033) | 4.3% |
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Pet Diabetes Care Devices Market
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