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The global companion animal postoperative pain management therapeutics market size is expected to reach USD 1.20 billion in 2032.

NEW YORK, NEW YORK, UNITED STATES, May 8, 2023 /EINPresswire.com/ -- The Companion Animal Postoperative Pain Management Therapeutics Market is expected to experience substantial growth in the coming years. The market size was USD 681.81 million in 2022 and is projected to reach USD 1.20 billion by 2032, with a revenue CAGR of 6.5% during the forecast period. The rising adoption of companion animals is a significant factor driving this growth, resulting in an increase in the number of surgical procedures being performed on these animals. This, in turn, is driving demand for postoperative pain management therapeutics.

Pet owners are becoming increasingly aware of the importance of postoperative pain management in their pets, further driving revenue growth of the market. In addition, the prevalence of surgical procedures in companion animals such as spaying, neutering, and orthopedic surgeries is also contributing to the demand for postoperative pain management therapeutics.

The trend of humanizing pets is another key driver of the market, with pet owners willing to spend more on their healthcare needs, including postoperative pain management. Technological advancements in postoperative pain management therapeutics, such as the development of new drugs and innovative delivery methods, are expected to further drive revenue growth.

However, the high cost of postoperative pain management therapeutics for companion animals could restrict revenue growth, particularly in developing countries where the cost may be prohibitive. Despite this, the companion animal postoperative pain management therapeutics market is expected to experience sustained growth due to the increasing awareness and importance of pain management in companion animals.

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Segments Covered in the Report –
The global companion animal postoperative pain management therapeutics market is expected to experience significant revenue growth during the forecast period from 2019 to 2032. The report offers historical data and forecasts revenue growth at a global, regional, and country level, and provides analysis of market trends in each of segments and sub-segments. The market has been segmented by product type, route of administration, animal type, and region.

Based on product type, the market is segmented into non-steroidal anti-inflammatory drugs, opioids, local anesthetics, and others. The report provides revenue forecasts for each of these segments from 2019 to 2032. Based on route of administration, the market is segmented into oral, injectable, and others.

The regional outlook section of the report provides revenue forecasts for the market in North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. The market in North America is further sub-segmented into the U.S., Canada, and Mexico. Similarly, the market in Europe is further sub-segmented into Germany, France, the U.K., Italy, Spain, and the rest of Europe. The market in Asia Pacific is further sub-segmented into China, India, Japan, South Korea, and the rest of Asia Pacific. Finally, the market in Latin America is sub-segmented into Brazil and the rest of Latin America.

The rising adoption of companion animals across the globe is driving revenue growth of the companion animal postoperative pain management therapeutics market. Increasing awareness among pet owners about the importance of pain management in animals is also driving market growth. The market is witnessing technological advancements in postoperative pain management therapeutics, such as the development of new drugs and innovative delivery methods, which is expected to drive revenue growth of the market.

However, the high cost of postoperative pain management therapeutics for companion animals is a major factor that could restrain revenue growth of the market, especially in developing countries. Despite this, the market is expected to experience significant growth during the forecast period, with revenue expected to reach USD 1.20 billion by 2032, and registering a revenue CAGR of 6.5%.

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Strategic development:
Elanco Animal Health Incorporated acquired Bayer AG's animal health business for USD 7.6 billion on 3 August 2020. This acquisition allowed Elanco to broaden its product range and reinforce its position in the global animal health market. Similarly, Zoetis Inc. acquired Ethos Diagnostic Science, a veterinary reference laboratory based in the United States, for USD 490 million on 7 February 2020. Zoetis leveraged this acquisition to expand its diagnostic capabilities and enhance its position in the companion animal postoperative pain management therapeutics market.

Competitive Landscape:
The global companion animal postoperative pain management therapeutics market is dominated by a handful of major players, who collectively account for a significant portion of the market share. Zoetis Inc., a leading animal health company, is one of the major players in the market. The company has a diverse portfolio of products and services for companion animals, including pain management therapeutics.

Merck & Co., Inc. is another major player in the global companion animal postoperative pain management therapeutics market. The company has a strong presence in the animal health market and offers a range of pain management therapeutics for companion animals.

Elanco Animal Health Incorporated, which recently completed the acquisition of Bayer AG's animal health business, is also a major player in the market. The acquisition helped Elanco Animal Health to expand its product offerings and strengthen its presence in the global animal health market.

Boehringer Ingelheim International GmbH, a leading pharmaceutical company, offers a range of pain management therapeutics for companion animals. The company has a strong presence in the animal health market and is committed to developing innovative solutions for pain management in companion animals.

Other major players in the global companion animal postoperative pain management therapeutics market include Bayer AG, Dechra Pharmaceuticals PLC, Norbrook Laboratories Limited, Ceva Sante Animale S.A., Vetoquinol S.A., Virbac S.A., and Aratana Therapeutics Inc. These companies are also committed to developing innovative solutions for pain management in companion animals and are expected to play a key role in the growth of the market in the coming years.

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