Diabetes mellitus (DM), a disease experienced in larger population of animals. Diabetes among dogs, is mostly found between 4-14 years age group. Observing early symptoms of diabetes can help to control diabetes in animals. Common symptoms include, weight loss, cloudy eyes, recurring chronic infections. The recommended insulin therapy for controlling glycemic conditions include Porcine insulin zinc suspension, Vetsulin, is approved for cats and dogs. The other FDA-approved insulin, human recombinant protamine zinc insulin or PZI (Prozinc) insulin, recommended for cats only. It is considered as a long-acting insulin by clinicians in veterinary insulin drugs market. As Veterinary Insulin Drugs is focusing on advanced technology, manufacturers have designed insulin delivery devices like insulin pen for veterinary insulin drugs delivery. The modern insulin pens have reduced the cost of treatment by reducing hospital visits.
Veterinary Insulin Drugs Market: Drivers and Restraints
Rising prevalence of disease is the primary factor driving the growth of veterinary insulin drugs market. The prevalence of diabetes mellitus in dogs increased from 13.1 cases per 10,000 in 2006 to 23.6 cases per 10,000 in 2015, a 79.7 percent increase. Also increase in pet adoption is also a factor leading the growth of veterinary insulin drug market. According to a survey by American Pet Products Association 2017-2018 (APPA), 89.7 million dogs and 94.2 million cats are owned in the United States. Also, rising awareness regarding animal health and hygiene may upsurge the demand for veterinary insulin drugs market. Moreover, increasing prevalence of obesity in pets may also responsible for the rapid progress of veterinary insulin drugs market. On the other hand, lack of healthcare infrastructure for pets and awareness about the pet health may deter the growth of veterinary insulin drugs market in under developing economies.
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Veterinary Insulin Drugs Market: Overview
Among, drug type segment, long acting insulin drugs are majorly used. long acting insulin drug type is used to treat severe conditions, are expected to generate major revenue for global veterinary insulin drugs market. Insulin delivery pens will lead the veterinary insulin drug market as the device is consumer friendly as compared to the traditional syringes. Veterinary Insulin Drugs companies are emphasizing on innovative insulin delivery device launch which has user friendly application. For instance, CANINSULIN VetPen, a Veterinary Insulin Drugs device designed by Merck, is the first Vet insulin pen for diabetic cats and dogs. Among all end user, the veterinary hospitals segment is anticipated to grow at a significant rate over the forecast period due to increasing number of veterinary infrastructures globally.
Veterinary Insulin Drugs Market: Regional Overview
North America will show the high revenue for the Veterinary Insulin Drugs market, since the people are more concerned about pet health. After North America, the Europe region will show the robust growth for veterinary insulin drugs market in the near future, due to availability of better hospital infrastructure in European countries. Latin America region will show the significant demand for the veterinary insulin drugs, due to the regional government initiative towards animal health. The Middle East and Africa are expected to be least lucrative region for veterinary insulin drugs market due to a smaller number of veterinary hospitals.
Veterinary Insulin Drugs Market: Key Players
Examples of some of the market participants in Veterinary Insulin Drugs market identified Allison Medical, Apotex Inc., Becton, Dickinson and Company, Boehringer Ingelheim Vetmedica Inc. Other players in Veterinary insulin drug market include Henry Schein Animal Health, MED TRUST, Merck & Co. Inc, UltiMed Inc., and Zoetis Inc and others.
The research report on Veterinary Insulin Drugs market presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report on Veterinary Insulin Drugs market provides analysis and information according to market segments such as geographies, application, and industry.
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