The pet diabetes care market is valued at USD 2,125.7 million in 2021 and is poised to grow at a significant CAGR of 7.0% over 2022–2028. Despite being mentioned in ancient books, diabetes is today thought to be one of the most developing medical disorders in both humans and animals. If pet owners know what to look for and collaborate with their veterinarian on a health plan for their dog or cat, they may simply and effectively treat the critical condition of diabetes. Between one in 1001 and one in 5002, on average, dogs and cats have diabetes mellitus. In the last 30 years, the number of canines with the illness has tripled. However, dogs who receive the right care live as long as a non-diabetic dog of the same age and sex. In middle-aged to older dogs, particularly in females, diabetes mellitus is a common illness, though it can also affect both male and female puppies. For instance, compared to other breeds, Siamese cats have a higher-than-average prevalence of diabetes. With proper care, a suitable diet, and a regular healthcare schedule, a diabetic cat can also lead a happy and healthy life. Given the increasing demand, healthcare facilities are storing up on animal-related medical supplies. In order to increase their presence in the overall market for pet diabetic care devices, a growing number of industry participants are concentrating on targeting various sales channels towards veterinary hospitals. The increased preference for government hospitals in developing nations due to cost-effectiveness is anticipated to fuel category growth. Additionally, the growing popularity of pet insurance in developed nations will in the near future fuel the expansion of the market for pet diabetic care devices.
Recent Market Developments:
In August 2020, Prozinc (protamine zinc recombinant human insulin) was introduced by Boehringer Ingelheim International GmbH as a single-dose daily medication for dogs with diabetes in the 20 ml presentation.