New York, Dec. Feb. 20, 2022 (GLOBE NEWSWIRE) — Reportlinker.com Announces Release of Companion Animal Arthritis Global Market Report 2022: Ukraine-Russia War Impact – https://www.reportlinker.com/p06374562/?utm_source=GNW
rl, Companion Animal Health, Canine Arthritis Management, Bioiberica, Assisi Animal Health and Exubrion Therapeutics Inc.
The global companion animal arthritis market is expected to grow from $2.73 billion in 2021 to $3.06 billion in 2022 at a compound annual growth rate (CAGR) of 12.14%. The Russian-Ukrainian war has disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions against several countries, a spike in commodity prices and supply chain disruptions, affecting many markets around the world. The companion animal arthritis market is expected to reach $4.10 billion in 2026 with a CAGR of 7.58%.
The Companion Animal Arthritis market includes revenue generated by entities from NSAIDs, monoclonal antibiotics. Market value includes the value of related goods sold by the service provider or included in the service offering.
Only goods and services exchanged between entities or sold to final consumers are included.
Pet arthritis refers to a condition involving inflammation of one or more joints in companion animals such as cats, dogs, and other exotic animals. Pet arthritis develops in the bones when the cartilage between the joints becomes rougher and more worn down, causing the bone surfaces to rub against each other.
North America was the largest region in the Pet Arthritis market in 2021. Regions covered in the Pet Arthritis market report are Asia-Pacific, Europe Western Europe, Eastern Europe, North America, South America, the Middle East and Africa.
Market value is defined as the revenue businesses derive from goods and/or services sold in the market and geography through sales, grants or donations specified in terms of currency (in USD ($) unless otherwise stated).
Revenues for a specified geography are consumption values, i.e. they are revenues generated by organizations in the specified geography in the specified market, regardless of where they are produced . It does not include revenue from resales down the supply chain or as part of other products.
The main type of pet arthritis are dogs, cats and other types. Dog pet arthritis is used to control pain and inflammation in dogs.
Dogs are domesticated canids (Canis familiaris) that are usually kept as pets or trained for hunting, guarding people or property. The indication for arthritis in pets is osteoarthritis and other forms of arthritis, which are treated with medications, supplements and other treatments, which are sold and distributed by hospitals and clinics veterinarians, retail pharmacies, online stores and others.
The rising trend in pet adoption is expected to propel the growth of the pet arthritis market. Adopting pets helps reduce stress, anxiety, depression, etc.
Pet adoption is a method of obtaining a dog, cat, and other exotic animals that their former owners have abandoned at a shelter or shelter rather than getting one from a pet store, d a breeder or another person. once they start to age.
For example, according to a survey by the American Pet Products Association, a US-based not-for-profit industry association, around half of UK households with pets have acquired at least one new pet during the country’s was in lockdown, while 11.3 million Americans acquired new pets during the pandemic. Additionally, in the survey, 16% of Gen Z respondents and 13% of Millennials said they had adopted a new pet during the pandemic. Hence, the rising trend in pet adoption is contributing significantly to the growth of the pet arthritis market.
Technological innovation is a key trend in the pet arthritis market.Technological innovation benefits people by improving productivity and giving them access to better, freshly produced goods and services, which raise the overall level .
Major industry players are using monoclonal antibody therapy to treat pet arthritis. Monoclonal antibody therapy is used on companion animals to treat pets, immune-mediated disorders, chronic pain, and others.
Monoclonal antibodies are produced by immune cells that are identical clones of a single parent cell. For example, in April 2021, Zoetis, a US-based pharmaceutical company, launched LIBRELA® and SOLENSIA® in the European Union, United Kingdom and Switzerland to prevent arthritis pain in cats and dogs using a treatment with monoclonal antibodies.
It functions similarly to naturally produced antibodies, with little involvement of hepatic or renal antibodies in their metabolism and elimination of gastrointestinal impact.
In July 2019, Elanco animal health, a US-based animal health company, acquired Aratana Therapeutics for an undisclosed amount. This acquisition would advance Elanco’s value-driving Innovation, Portfolio and Productivity (IPP) strategy while continuing to provide veterinarians and pet owners with value.
Aratana Therapeutics is an American companion animal therapeutics company specializing in the discovery and production of novel treatments for dogs and cats.
The countries covered in the Pet Arthritis market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the United Kingdom and the United States.
The Pet Arthritis Market research report is part of a series of new reports that provide statistics on the Pet Arthritis market, including the size of the global Pet Arthritis market. Pet Arthritis industry, regional shares, competitors with Pet Arthritis market share, detailed segments of the Pet Arthritis market. , market trends and opportunities, and any other data you may need to thrive in the Pet Arthritis industry. This Pet Arthritis Market research report provides a comprehensive perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
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