Companion Animal Arthritis Market Expected to Reach $5.5 Billion by 2031—Allied Market Research

According to a new report published by Allied Market Research, titled, “Companion Animal Arthritis Market," The companion animal arthritis market was valued at $2.9 billion in 2021, and is estimated to reach $5.5 billion by 2031, growing at a CAGR of 7% from 2022 to 2031. 

The companion animal arthritis market is gaining significant popularity owing to an increase in pet ownership across the world. This has led to a rise in veterinary visits and veterinary expenditures by pet owners. Arthritis greatly affects a large portion of the pet population and approximately 20% of the canine pet population develops osteoarthritis in the U.S. itself. The increase in pet adoption owing to their unconditional love that helps in reducing stress and socializing is increasing rapidly. Arthritis is common among the companion animals such as dogs and cats which causes inflammation in the joints that leads to pain, stiffness, and discomfort among these animals. These aspects are anticipated to boost the companion animal arthritis market size during the forecast period.

The lack of proper treatment facilities for companion animal arthritis conditions is estimated to hamper the market growth. For instance, companion animal orthopedic disease has received very less research interest in several countries that have led to the limited availability of veterinary treatment facilities. Also, the increase in the cost of treatment for companion animal arthritis conditions is another restraining factor.

Increase in spending on animal healthcare owing to an increase in the adoption of pets is estimated to boost the companion animal arthritis market share in the upcoming years. For instance, in the U.S., the American Kennel Club (AKC) reported that pet owners are spending more money on pets owing to which the pet business sales crossed $100 billion in 2020. The purchase of pet products has jumped by 86% in the post-pandemic period. As arthritis is a progressive disease, it is usually treated with supplements. Also, the treatment of arthritis is multimodal and different therapies such as joint supplements, weight management, and Non-Steroidal Anti-Inflammatory Drugs (NSAIDs) are used to treat this condition. The popularity of popular dog breeds has also increased the demand for routine veterinarian care. These factors are projected to boost the companion animal arthritis market share in the upcoming years. 

The companion animal arthritis market trends is segmented on the basis of companion type, arthritis type, treatment, distribution channel, and region. By companion type, it is classified into dog, cat, and horse. By arthritis type, it is classified into osteoarthritis and rheumatoid arthritis. By treatment, it is classified into exercise, medical, and others. By distribution channel, it is classified into online store, pet supply store, veterinary hospitals and clinics, and others. By region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

The key players profiled in the companion animal arthritis market growth report include Zoetis, Virbac, Elanco, Boehringer Ingelheim International GmbH, Ceva, Dechra Pharmaceuticals PLC., Vetoquinol, NexGen Pharmaceuticals, and Norbrook.

Impact of COVID-19 on the Global Companion Animal Arthritis Industry

• The companion animal arthritis market was negatively impacted by the COVID-19 pandemic, owing to low veterinary admissions due to the lockdown imposed across several countries
• The COVID-19 pandemic has led to a decrease in low veterinary admission and cancellation of routine pet check-ups resulting in a low number of arthritis surgeries being performed in veterinary hospitals 
• Companion animal arthritis treatment faced major limitations during the pandemic such as providing safe treatment environments, embracing digital healthcare practices or telemedicine consulting services to ensure the continuity of businesses
• COVID-19 proved to be a challenging period for the companion animal arthritis industry. This is because even though veterinary practices were classified under essential service, the majority of the pet owners delayed their visits due to the fear of contracting the COVID-19 virus
• It was estimated that more than 3,000 pet owners across the U.S., UK, Brazil, and France have shown concerns over taking their pets to veterinary visits which have even impacted the pet routine treatments for tick, flea, and worming products. Hence, the pandemic has negatively impacted the overall companion animal arthritis market

Key Findings of Study

• By companion type, the dog segment emerged as the global leader in 2021 and it is anticipated to be the fastest-growing segment during the forecast period
• By arthritis type, the osteoarthritis segment emerged as the global leader in 2021 and the rheumatoid arthritis segment is predicted to show significant growth in the upcoming years
• By treatment, the medical segment emerged as the global leader in 2021 and is anticipated to show the fastest growth during the forecast period
• By distribution channel, the pet supply store segment emerged as the global leader in 2021 and the online store segment is predicted to show the fastest growth in the upcoming years
• Region-wise, North America registered the highest market share in 2021 and is projected to maintain its position during the forecast period