Pet Diabetes Care Devices Market Expected to Reach $3.5 Billion by 2031—Allied Market Research

According to a new report published by Allied Market Research, titled, “Pet Diabetes Care Devices Market," The pet diabetes care devices market was valued at $1.9 billion in 2021, and is estimated to reach $3.5 billion by 2031, growing at a CAGR of 6.3% from 2022 to 2031.

Dogs and cats with diabetes usually require lifelong treatment with special diets, a good fitness regimen and, particularly in dogs, daily insulin injections. As dogs and cats age, they may also develop other diseases that can result in diabetes or could significantly affect their response to treatment for diabetes, including overactivity of the adrenal gland in dogs (hyperadrenocorticsm) or overactivity of the thyroid gland in cats (hyperthyroidism), pancreatitis, heart disease, kidney disease, urinary tract infections and skin infections. The key to managing diabetic pets is to keep the pet’s blood sugar near normal levels and avoid too-high or too-low levels that can be life-threatening.  A treatment that works for one pet might not work as well for another pet, and patience is important as the owner and pet adjust to the new diet and medications.  

The Pet Diabetes Care Devices Market Trends such as the increasing pet adoption and rising concern among their owners regarding their health, rise in the cases of obesity among the pet animal types are the driving factors of the Pet Diabetes Care Devices Industry. Obesity in animal types causes insulin resistance and impaired glucose metabolism in cats and dogs. In cats, this may progress into feline diabetes because of long-term elevated insulin demands together with obesity-related metabolic alterations that result in destruction of the beta cells through mechanisms similar to development of human type 2 diabetes mellitus. In addition, the increase in demand for blood glucose monitoring devices in the hospitals and increase in the technological advancements of the insulin delivery devices to increase the adoption of the device drive the growth of the pet diabetes care devices market. For instance, in August 2022, ALR Technologies SG Pte. Ltd the diabetes management company, announced that it had received manufacturing approval to place the first purchase order (“PO”) for the GluCurve Pet continuous glucose monitoring system. The veterinarians could quickly apply the monitor onto pets before sending them home where glucose levels are remotely recorded every 3 minutes and securely uploaded to the ALRT cloud. The increased benefits of the glucose monitoring device  can help to create its demand among the veterinary healthcare professionals and pet owners. Moreover, increase in pet population, increase in need for continuous monitoring of the pets, rise in government expenditure & grants by the government in order to improve the veterinary care and increase in awareness programs on the use of diabetes care devices also helps in the growth of the market. However, the high cost of diabetes management devices and side effects relating to the use of devices are expected to hinder the growth of this market. Conversely, the increase in spending on veterinary health care needs is expected to create lucrative opportunities for the market. 

The global pet diabetes care devices market is segmented based on device type, animal types, end user and region. On the basis of device type, the market is bifurcated into glucose monitoring devices and insulin delivery devices. On the basis of animal types, the market is classified into dogs and cats. On the basis of end user, the market is classified into homecare, veterinary hospitals and others. Region wise, the Pet Diabetes Care Devices Market Analysis is studied across North America, Europe, Asia-Pacific and LAMEA. 

On the basis of device type, the market is classified into glucose monitoring devices and insulin delivery devices. The glucose monitoring devices segment is projected to exhibit the fastest Pet Diabetes Care Devices Market Size growth during the Pet Diabetes Care Devices Market Forecast period, owing to increase in the prevalence of diabetes among the dog and cats' population majorly, increase in the healthcare expenditure and increase in the adoption of diabetes care devices for blood sugar level management. The glucose monitoring devices that attach to a patient for up to 2 weeks and measure interstitial glucose levels during that time. The advanced blood glycose monitors are smaller, factory calibrated, and allow real-time access to reliable appropriate readings within a few hours of placement. They also adhere much better to dog and cat skin and have a low profile, making them well tolerated by most veterinary patients with a high rate of success in use. This type of advantage of using monitoring devices for veterinary diabetes patients can help in the adoption of diabetes care in pets thereby increasing the growth of the market. 

On the basis of animal types, the Pet Diabetes Care Devices Market Share is classified into dogs and cats. The dogs segment is anticipated to grow at the highest rate in Pet Diabetes Care Devices Market Size, owing to an upsurge in demand for pet diabetes care devices in dogs and, an increase in the number of diabetic dogs, and an increase in the number of strategies adopted by the market players like partnership and collaboration. Moreover, the widespread use of pet diabetes care devices and the increase in the healthy lifestyle by animal types also help in the growth of the market. For instance, in March 2022, TeleVet, Inc., and Boehringer Ingelheim Animal type Health USA Inc. announced a strategic collaboration to deliver innovative technology and services that are anticipated to make it easier for veterinary practices to provide the best patient care while reducing the overall burden for veterinary healthcare professionals.  

On the basis of end user, the Pet Diabetes Care Devices Market Share is classified into homecare, veterinary hospitals and others. The homecare segment is anticipated to grow at the highest rate, owing to an increase in the number of pet animals that require home-basement, a rise in the number of adoptions of pet animals among the population of developing countries. 

On the basis of region, the market is studied across North America (U.S., Canada, and Mexico), Europe (Germany, France, UK, Italy, Spain, and Rest of Europe), Asia-Pacific (Japan, China, Australia, India, South Korea, and Rest of Asia-Pacific), and LAMEA (Brazil, South Africa, Saudi Arabia, and Rest of LAMEA). In 2021, North America was the dominant region and is expected to remain dominant throughout the forecast period, owing to high prevalence rate of obesity and inflammation that lead to diabetes, increase in the number of market players and surge in the product launches in the region. However, Asia-Pacific is expected to witness the highest CAGR during the analysis period, owing to the presence of high populace countries such as India and China, which in turn increases the prevalence rate of diabetes and the increasing number of strategies and trends adopted by the Pet Diabetes Care Devices Industry. 

Key Findings of The Study 

• By device type, the insulin delivery devices segment accounted for the major share of the pet diabetes care devices market in 2021.  

• By animal type, the dogs segment is anticipated to grow with the highest CAGR throughout the forecast period. 

• By end user, the homecare segment is anticipated to grow with the highest CAGR throughout the forecast period. 

• By region, North America occupied a major share of the pet diabetes care devices market in 2021.