Pet Diabetes Care Devices Market Size
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 2.12 Billion |
| Market Size (2029) | USD 2.88 Billion |
| CAGR (2024 - 2029) | 6.22 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | North America |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Pet Diabetes Care Devices Market Analysis
The Global Pet Diabetes Care Market size is estimated at USD 2.12 billion in 2024, and is expected to reach USD 2.88 billion by 2029, growing at a CAGR of 6.22% during the forecast period (2024-2029).
Diabetes is a prevalent condition in dogs and cats, necessitating specialized care. This care includes tailored diets, fitness routines, consistent monitoring, regular insulin injections, and veterinary checkups. Treatments are individualized, and it is crucial to monitor blood and urine sugar levels regularly. While vet visits are essential, home monitoring devices are increasingly popular for convenient glucose checks. These advanced tools monitor health and proactively manage issues to avert complications.
The market for pet diabetes care offers a range of tools, from glucose monitoring systems to insulin pens. These devices, championed by veterinary clinics, are set to drive the market forward. Healthcare professionals and caretakers in veterinary clinics advocate for these devices, empowering pet owners to diagnose and manage their pets' conditions. With guidance from veterinarians, owners can optimize nutrition and monitor their pets' glucose levels. The heightened focus on pet health underscores the demand for cutting-edge diabetic care equipment, ensuring the well-being of companion animals with diabetes.
The major factors for the growth of the market include the rising prevalence of diabetes in pet animals, an increase in pet adoption, and the growing pet population. According to the 2022-2023 National Pet Owners Survey by the American Pet Products Association, 65.1 million households in the United States own a dog, while 46.5 million own a cat as a pet. The past few years have seen a significant increase in the adoption of animals, such as dogs and cats, as the preferred companions of human beings. Dogs and cats are the most popular pets and have been shown to enhance humans' physical and mental well-being. The developed countries lead in companion animal ownership due to favorable economic conditions.
Also, according to the American Pet Products Association's 2021-2022 National Pet Owners Survey, the basic annual expenses for surgical vets are USD 374 to USD 965 for cats and USD 534 to USD 1,285 for dogs. Thus, the rise in the adoption of pet animals is expected to increase spending on the healthcare needs of these animals, which would, in turn, be expected to boost the growth of the market during the forecast period.
Therefore, the market has a significant size, driven by the large population of pet animals, especially cats and dogs. Hence, the increase in pet adoption is expected to drive the pet diabetes market during the forecast period. However, the high cost of diabetic medication and side effects relating to medicines and insulin restrain the market growth.
Pet Diabetes Care Devices Market Trends
The Insulin Therapy Segment by Drug Type is Expected to Hold the Largest Market Share
Insulin therapy is essential for the care of diabetic dogs and cats, and various types of insulin have been proven to be effective. Insulin reduces blood glucose levels by increasing peripheral glucose consumption and suppressing hepatic glucose production. Insulin prevents the development of the death of beta-cells by reducing the cell's tolerance to glucose. Among cats, insulin helps to prohibit amyloid deposits from the amyloid polypeptide islet from developing. Therefore, insulin is undoubtedly the most effective remedy for the control of diabetes in canines and felines.
The presence of competitors, research and development in the field of diabetes, and mergers and acquisitions boost the market growth. For instance, in March 2022, TeleVet Inc., a provider of technology solutions for veterinary teams, and Boehringer Ingelheim Animal Health USA Inc., a global innovator of animal health products for pets, horses, and livestock, 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 vets. Also, Caninsulin/Vetsulin and ProZinc are officially registered for veterinary use. Caninsulin/Vetsulin is porcine lente insulin approved for use in dogs and cats. It has a moderate duration of action. ProZinc (Boehringer Ingelheim) is a type of protamine zinc insulin (PZI) that is approved for use in cats and can also be used to manage diabetes in dogs. Moreover, extensive research is being conducted on diabetes in cats, leading to market growth. In an article published in April 2024 titled 'Treatment of Canine Type 1 Diabetes Mellitus', the study mentioned that global research and development are being conducted on emerging regenerative medicine techniques. These techniques, such as stem cell technology and organoid cultures, have opened up new possibilities for treating and potentially curing diabetes in pets. The rising cases of diabetes and increased research initiatives on pet diabetes are expected to create more opportunities for the market players during the forecast period.
As per the factors mentioned above, the insulin segment is expected to grow during the forecast period.
North America is Expected to Dominate the Market During the Forecast Period
In North America, the rising adoption of pets and increasing expenditure on them are expected to boost the overall growth of the market. According to the 2022-2023 National Pet Owners Survey, conducted by the American Pet Products Association (APPA), total pet industry expenditures in the United States totaled USD 147 billion in 2023, up 7.5% from USD 136.8 billion in 2022.
According to the State of the Industry Report 2023 Highlights from the North American Pet Health Insurance Association (NAPHIA), the total premium volume for pet insurance in the United States exceeded USD 4 billion. The report also mentioned that the total number of insured pets in the United States at the end of 2023 was USD 4.27 billion, representing a 21.9% increase from 2022. Dogs' average accident and illness premiums were USD 675.61 yearly or USD 56.30 monthly. The largest share of insured pets lives in California, New York, and Florida. The majority of insured pets were dogs, accounting for 78.6%, while cats made up 21.4% of the insured pets. In Canada, dogs constituted 75.5% of insured pets, with cats representing 24.5%.
The key players operating in the market focus on new strategies, such as acquisitions, collaborations, research, and new product launches, to capture larger market shares. In August 2022, ALR Technologies SG Pte. Ltd, a diabetes management company, announced that it received manufacturing approval from Infinovo Medical Co. Ltd to place the first purchase order for the GluCurve Pet CGM. The expected delivery date for the order was October 2022. The GluCurve Pet CGM is the first and only continuous glucose monitoring system for diabetic cats and dogs.
As per the factors mentioned above, North America is expected to witness growth during the forecast period.
Pet Diabetes Care Devices Industry Overview
The pet diabetes care market is consolidated. Some of the market players in the market are Allison Medical, Apotex Inc., Becton, Dickinson and Company, Boehringer Ingelheim Vetmedica Inc., Henry Schein Animal Health, MED TRUST, Merck & Co. Inc., UltiMed Inc., and Zoetis Inc.
Pet Diabetes Care Devices Market Leaders
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Merck & Co., Inc.
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Zoetis Services LLC
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Allison Medical
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UltiMed Inc.
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Boehringer Ingelheim
*Disclaimer: Major Players sorted in no particular order
Pet Diabetes Care Devices Market News
- September 2023: Boehringer Ingelheim received US Food and Drug Administration (FDA) approval for SENVELGO (velagliflozin oral solution), a revolutionary new treatment for cats with diabetes.
- December 2023: Willows launched a clinic specializing in diabetes mellitus for canines and felines. The clinic's primary goal is to assist both chronic and newly diagnosed diabetic pets, especially in cases where decision-making or clinical progress has proven to be a challenge.
Pet Diabetes Care Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Rising Prevalence of Diabetes and Obesity in Pet Animals
4.2.2 Increase in Pet Adoption
4.3 Market Restraints
4.3.1 High Cost of Diabetes Medications
4.3.2 Adverse Reaction of Medications
4.4 Porter's Five Force Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION (Market Size by Value - USD)
5.1 By Drug Type
5.1.1 Insulin Therapy
5.1.2 Oral Medication
5.2 By Device Type
5.2.1 Glucose Monitoring Devices
5.2.2 Insulin Delivery Devices
5.3 By Animal Type
5.3.1 Canine
5.3.2 Feline
5.4 Geography
5.4.1 North America
5.4.1.1 United States
5.4.1.2 Canada
5.4.1.3 Mexico
5.4.2 Europe
5.4.2.1 Germany
5.4.2.2 United Kingdom
5.4.2.3 France
5.4.2.4 Italy
5.4.2.5 Spain
5.4.2.6 Rest of Europe
5.4.3 Asia-Pacific
5.4.3.1 China
5.4.3.2 Japan
5.4.3.3 India
5.4.3.4 Australia
5.4.3.5 South Korea
5.4.3.6 Rest of Asia-Pacific
5.4.4 Middle East and Africa
5.4.4.1 GCC
5.4.4.2 South Africa
5.4.4.3 Rest of Middle East and Africa
5.4.5 South America
5.4.5.1 Brazil
5.4.5.2 Argentina
5.4.5.3 Rest of South America
6. COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Allison Medical
6.1.2 Becton, Dickinson and Company
6.1.3 Boehringer Ingelheim
6.1.4 Covetrus
6.1.5 Merck & Co. Inc
6.1.6 MED TRUST
6.1.7 Taidoc Technology Corporation
6.1.8 UltiMed Inc.
6.1.9 Zoetis Inc.
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Pet Diabetes Care Devices Industry Segmentation
As per the scope of the report, diabetes is a chronic disease that can also affect dogs and cats. Diabetes is more common in older pets, but it can also occur in younger or pregnant pets. The market for pet diabetes care includes therapies for treating or alleviating diabetes in animals, as well as devices for monitoring blood glucose and administering insulin to animals.
The pet diabetes care market is segmented by drug type, device type, animal type, and geography. By drug type, the market is segmented into insulin therapy and oral medication. By device type, the market is segmented into glucose monitoring devices and insulin delivery devices. By animal type, the market is segmented into canine and feline. Geographically, the market is segmented into North America, Europe, Asia-Pacific, the Middle East and Africa, and South America. The market report also covers the estimated market sizes and trends for 17 countries across major regions globally. The report offers market size and forecasts in value (USD) for the above segments.
| By Drug Type | |
| Insulin Therapy | |
| Oral Medication |
| By Device Type | |
| Glucose Monitoring Devices | |
| Insulin Delivery Devices |
| By Animal Type | |
| Canine | |
| Feline |
| Geography | ||||||||
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Pet Diabetes Care Market Research FAQs
How big is the Global Pet Diabetes Care Market?
The Global Pet Diabetes Care Market size is expected to reach USD 2.12 billion in 2024 and grow at a CAGR of 6.22% to reach USD 2.88 billion by 2029.
What is the current Global Pet Diabetes Care Market size?
In 2024, the Global Pet Diabetes Care Market size is expected to reach USD 2.12 billion.
Who are the key players in Global Pet Diabetes Care Market?
Merck & Co., Inc., Zoetis Services LLC, Allison Medical, UltiMed Inc. and Boehringer Ingelheim are the major companies operating in the Global Pet Diabetes Care Market.
Which is the fastest growing region in Global Pet Diabetes Care Market?
Asia-Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Global Pet Diabetes Care Market?
In 2024, the North America accounts for the largest market share in Global Pet Diabetes Care Market.
What years does this Global Pet Diabetes Care Market cover, and what was the market size in 2023?
In 2023, the Global Pet Diabetes Care Market size was estimated at USD 1.99 billion. The report covers the Global Pet Diabetes Care Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Global Pet Diabetes Care Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Pet Diabetes Care Industry Report
The Pet Diabetes Care Devices Market is segmented by drug type, device type, animal type, and geography. It covers insulin therapy, oral medication, glucose monitoring devices, and insulin delivery devices, focusing on canine and feline diabetes care. The market analysis includes an industry overview, market forecast, and market trends, providing valuable insights into market growth and market segmentation. The report highlights the industry size, market value, and market outlook, detailing the industry research and market review.
Industry reports indicate that North America, Europe, Asia-Pacific, the Middle East and Africa, and South America are key regions in this market. The industry analysis and market data show a positive growth rate, supported by market leaders and industry statistics. The report offers an industry outlook and market predictions, emphasizing market growth and industry trends.
For a comprehensive understanding, the report includes a detailed market forecast and industry information. The market segmentation and market overview are crucial for identifying market opportunities and challenges. Readers can access a sample of this industry analysis in a free report PDF download, which serves as a report example for further research. The industry sales and market review provide an in-depth look at the market dynamics, ensuring that stakeholders have access to the latest market data and industry research.
