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Global Pet Diabetes Care Market: Introduction

Diabetic dogs and cats can live long and healthy lives with proper management and veterinary care. Diabetes mellitus is one of the common and prominent metabolic diseases that have been diagnosed in canine and feline family. If any change is noticed in a pet’s behavior or weight, it is advised to consult a veterinarian. Dogs and cats with diabetes usually require lifelong treatment with special diet, a good fitness regimen, and particularly in dogs, daily insulin injections. The key to managing diabetic pets is to keep blood sugar near normal levels and avoid too-high or too-low levels that can be life threatening. Dogs and cats seem less prone to developing atherosclerosis compared to humans, while diabetes is a relatively common endocrine disease in both species.

Key Drivers of Global Pet Diabetes Care Market

Rise in Prevalence of Diabetes in Pet Animals

Diabetes if left untreated in dogs can cause ketoacidosis, cataract, and kidney disease. Diabetic cats are susceptible to chronic pancreatitis, ketoacidosis, and nerve degeneration. Hence, early detection and treatment is quite important. According to Vetsource, an estimated 1 in every 300 dogs and 1 in 230 cats will develop diabetes during their lifetimes, and those statistics keep rising. The 2016 State of Pet Health Report indicated an upward trend in the prevalence of the disease, rising nearly 80% in dogs and 18% in cats over a 10-year period. Obesity is one of the leading causes of diabetes. However, some breeds are predisposed to the disease, including cocker spaniels, Labrador, golden retrievers, dachshunds, and beagles, as well as Siamese, Burmese, and Maine Coon cats. Diabetes is more common in older pets; however, it can also occur in younger or pregnant pets. The disease is more manageable if it is detected early and managed with the help of a veterinarian. According to the American Veterinary Medical Association, diabetes in dogs and cats can occur at any age. However, diabetic dogs are usually 4 years to 14 years of age and most are diagnosed at roughly 7 years to 10 years. Most diabetic cats are older than six years of age. Diabetes occurs in female dogs twice as often as male dogs. Certain breeds of dogs may be predisposed to diabetes.

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High Growth in Pet Adoption

According to Pethealth, Inc. (September 20, 2019), in North America, pet adoption rose 5.2% in August, up from a 3.2% rise in July, as both dog and cat rescues increased. The increased level of control and care dog owners provide to their dogs and the increasing perception of dogs as family members are indicators of the changing human-dog relationship in the U.S. According to the Multidisciplinary Digital Publishing Institute (MDPI), data collected by PetPoint in the past eight years indicate that adoptions increased in the last decade and could have become an additional driver affecting recent euthanasia declines across the U.S. Adoptions became a factor driving additional decrease in national shelter euthanasia starting around or just before 2010. According to the National Center for Biotechnology Information, the U.S. National Library of Medicine, the adoption numbers have stayed relatively stable over the last three decades; however, the percentage of intake adopted rose from 20% in 1984 to about 35% in 1991, stayed relatively stable at 35% from 1991 to 2005, and then started rising and had reached 52% by 2016. The factors mentioned above led to strong growth of the global pet adoption driving the market.

North America to Account for Major Share of Global Pet Diabetes Care Market

  • North America is projected to account for major share of the global pet diabetes care market during the forecast period. The market in the region is anticipated to grow at a rapid pace in the next few years due to increase in research & development and various government initiatives for the development of animal health care. Europe is expected to be the second largest market during the forecast period.
  • The pet diabetes care market in Asia Pacific is likely to expand at a high CAGR during the forecast period. This can be attributed to rise in investment in research & development by private & government organizations and increase in animal health care management.

Key Players Operating in Global Pet Diabetes Care Market

The global pet diabetes care market is highly consolidated owing to the presence of a small number of key players. Leading players operating in the global pet diabetes care market include:

  • Allison Medical
  • Apotex, Inc.
  • Becton, Dickinson and Company
  • Boehringer Ingelheim Vetmedica, Inc.
  • Henry Schein Animal Health?
  • Merck & Co.? Inc.
  • UltiMed, Inc.
  • Zoetis, Inc.

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Global Pet Diabetes Care Market: Research Scope

Global Pet Diabetes Care Market, by Drug Type

  • Insulin Therapy
  • Oral Medication

Global Pet Diabetes Care Market, by Device Type

  • Glucose Monitoring Devices
  • Insulin Delivery Devices

Global Pet Diabetes Care Market, by Animal Type

  • Canine
  • Feline
  • Others

Global Pet Diabetes Care Market, by End-user

  • Veterinary Hospitals
  • Home Care
  • Veterinary Clinics

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

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The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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Pet Diabetes Care Market

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