Pet Diabetes Care Devices Market Growth Analysis Report, Forecast to 2032
The global pet diabetes care devices industry is poised to increase at a steady CAGR of 6.5%, reaching US$ 4 billion by 2032 from US$ 2 billion in 2021.
"The number of pets with diabetes, the number of pets that are adopted, and the number of pets that are overweight are all pushing the market to grow."
The adoption of animals, especially dogs and cats, has increased dramatically in recent years. Dogs and cats are the most popular pets and are believed to boost human physical and mental wellbeing.
However, industrialized nations dominate companion animal ownership due to numerous factors, such as excellent economic conditions.
Also, the number of animals available for adoption is rising. This happens when people move to a new city or overseas and can't take their pets. As the American Society for the Prevention of Cruelty to Animals stated, around 6.5 million companion animals enter animal shelters yearly. The ASPCA estimates that 3.2 million shelter animals are adopted as pets each year, 1.6 million dogs, and the remainder cats.
Thus, the rising adoption of pets is likely to increase expenditure on pet health care, boosting pet diabetes care device market growth throughout the forecast period. Therefore, the market analyzed is enormous, owing to the vast population of pets, especially cats and dogs. Thus, rising pet adoption has fueled the pet diabetes industry.
What is the COVID-19 Impact on the Pet Diabetes Care Devices Market?
The coronavirus pandemic is having a devastating effect on enterprises and has already resulted in the collapse of economic activity on an unparalleled scale. Furthermore, due to the significant growth in demand for pet diabetes care devices, healthcare facilities, and personnel, only a few healthcare systems are likely to meet the increased demand during a pandemic event.
COVID-19 has disrupted the supply chain, resulting in a global scarcity of animal health items such as glucose meters for dogs, nutritious feed, and vaccinations. There is no indication that animals can transmit the virus to humans.
What are the Key Contributors to the Pet Diabetes Care Devices Market Growth?
"Blaming to the unhealthy lifestyles of pet owners who lead their pets on the same road of monitoring their health with a pet blood glucose monitor to check and prevent their diabetes-related issues."
Insulin therapy for diabetic dogs and cats is essential, and numerous forms have been shown to be effective. Insulin lowers blood glucose by boosting peripheral glucose intake and decreasing hepatic glucose synthesis. The glucometer for pets helps in monitoring and prevents amyloid polypeptide islet deposits from forming in cats.
Insulin is, therefore, the most effective treatment for diabetes in dogs and cats. Pig Lente insulin is licensed for use in dogs and cats (Caninsulin and Vetsulin). It has a medium action time. ProZinc (Boehringer Ingelheim) is a form of protamine zinc insulin (PZI) that can be used in cats and diabetic dogs.
Obesity is one of the leading problems in pets nowadays, blamed on the junk diets of not only humans but pets as well. A pet blood glucose monitor is becoming a necessity for most pet owners as it helps with checking their health and maintaining their diet. Pet diabetes care devices are booming in the market with greater potential.
What Is Limiting the Pet Diabetes Care Devices Market?
Insufficient insulin synthesis results in insufficient glucose transfer to the cells. This leads to abnormal cell function and energy deprivation in the tissue. This metabolic deprivation causes the liver to begin metabolizing extra sugar stored in the muscles, liver, and fat cells.
Diabetes' increasing prevalence among pets is a big issue for pet owners worldwide since an increasing number of pets are diagnosed with the disease. Diabetes is a chronic disease that most commonly affects elderly dogs but can occur in younger animals as well. Diabetes in pets often requires lifetime care with a healthy exercise program, a proper diet, and a painless glucose monitor for dogs.
Unlike humans, some pets, especially cats, are genetically predisposed to diabetes, and yet obesity increases the risk of diabetes in pets. Because pet diabetes cannot be cured, greater efforts are being made by pet owners and key players in the pet diabetes care device market to optimize its treatment. Continuous glucose monitor for cats and care has no adverse effect on a pet's quality of life.
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