#Pet Insurance Industry Analysis

[mostlysignssomeportents]

Private equity finally delivered Sarah Palin's death panels

Tonight (Apr 26), I’ll be in Burbank, signing Red Team Blues at Dark Delicacies at 6PM.

Remember “death panels”? Sarah Palin promised us that universal healthcare was a prelude to a Stalinist nightmare in which unaccountable bureaucrats decided who lived or died based on a cost-benefit analysis of what it would cost to keep you alive versus how much your life was worth.

If you’d like an essay-formatted version of this post to read or share, here’s a link to it on pluralistic.net, my surveillance-free, ad-free, tracker-free blog:

https://pluralistic.net/2023/04/26/death-panels/#what-the-heck-is-going-on-with-CMS

Palin was right that any kind of healthcare rationing runs the risk of this kind of calculus, where we weight spending $10,000 to extend a young, healthy person’s life by 40 years against $1,000 to extend an elderly, disabled person’s life by a mere two years.

It’s a ghastly, nightmarish prospect — as anyone who uses the private healthcare system knows very well. More than 27m Americans have no health insurance, and millions more have been tricked into buying scam “cost-sharing” systems run by evangelical grifters:

https://www.nytimes.com/2020/01/02/health/christian-health-care-insurance.html

But for the millions of Americans with insurance, death panels are an everyday occurrence, or at least a lurking concern. Anyone who pays attention knows that insurers have entire departments designed to mass-reject legitimate claims and stall patients who demand that the insurer lives up to its claim:

https://kffhealthnews.org/news/article/khn-podcast-an-arm-and-a-leg-how-to-shop-for-health-insurance-november-24-2021/

The private healthcare sector is designed to deny care. Its first duty is to its shareholders, not its patients, and every dollar spent on care is a dollar not available for dividends. The ideal insurance customer pays their premiums without complaint, and then pays cash for all their care on top of it.

All that was true even before private equity started buying up and merging whole swathes of the US healthcare system (or “healthcare” “system”). The PE playbook — slash wages, sell off physical plant, slash wages, reduce quality and raise prices — works in part because of its scale. These aren’t the usual economies of scale. Rather the PE strategy is to buy and merge all the similar businesses in a region, so customers, suppliers and workers have nowhere else to turn.

That’s bad enough when it’s aimed at funeral homes, pet groomers or any of the other sectors that have been bigfooted by PE:

https://pluralistic.net/2022/12/16/schumpeterian-terrorism/#deliberately-broken

But it’s especially grave when applied to hospitals:

https://pluralistic.net/2020/05/21/profitable-butchers/#looted

Or emergency room physicians:

https://pluralistic.net/2022/03/14/unhealthy-finances/#steins-law

And if you think that’s a capitalist hellscape nightmare, just imagine how PE deals with dying, elderly people. Yes, PE has transformed the hospice industry, and it’s even worse than you imagine.

Yesterday, the Center for Economic and Policy Research published “Preying on the Dying: Private Equity Gets Rich in Hospice Care,” written by some of the nation’s most valiant PE slayers: Eileen Appelbaum, Rosemary Batt and Emma Curchin:

https://cepr.net/report/preying-on-the-dying-private-equity-gets-rich-in-hospice-care/

Medicare pays private hospices $203-$1,462 per day to take care of dying old people — seniors that a doctor has certified to have less than six months left. That comes to $22.4b/year in public transfers to private hospices. If hospices that $1,462 day-rate, they have lots of duties, like providing eight hours’ worth of home care. But if the hospice is content to take the $203/day rate, they are not required to do anything. Literally. It’s just free money for whatever the operator feels like doing for a dying elderly person, including doing nothing at all.

As Appelbaum told Maureen Tkacik for her excellent writeup in The American Prospect: “Why anybody commits fraud is a mystery to me, because you can make so much money playing within the guidelines the way the payment scheme operates.”

https://prospect.org/health/2023-04-26-born-to-die-hospice-care/

In California, it’s very, very easy to set up a hospice. Pay $3,000, fill in some paperwork (or don’t — no one checks it, ever), and you’re ready to start caring for beloved parents, grandparents, sisters, brothers, aunts and uncles as they depart this world. You do get a site inspection, but don’t worry — you aren’t required to bring your site up to code until after you’re licensed, and again, they never check — not even if there are multiple complaints. After all, no one at the Centers for Medicare & Medicaid Services (CMS) has the job of tracking complaints.

This is absolute catnip for private equity — free government money, no obligations, no enforcement, and the people you harm are literally dying and can’t complain. What’s not to like? No wonder PE companies have spent billions “rolling up” hospices across the country. There are 591 hospices in Van Nuys, CA alone — but at least 30 of them share a single medical director:

https://auditor.ca.gov/reports/2021-123/index.html#pg34A

Medicare caps per-patient dispersals at $32,000, which presents an interesting commercial question for remorseless, paperclip-maximizing, grandparent-devouring private equity ghouls: do you take in sick patients (who cost more, but die sooner) or healthy patients (cost less, potentially live longer)?

In Van Nuys, the strategy is to bring in healthy patients and do nothing. 51% of Van Nuys hospice patients are “live discharged” — that is, they don’t die. This figure — triple the national average — is “a reliable sign of fraud.”

There are so many hospice scams and most of them are so stupid that it takes a monumental failure of oversight not to catch and prevent them. Here’s a goodun: hospices bribe doctors to “admit” patients to a hospice without their knowledge. The hospice bills for the patient, but otherwise has no contact with them. This can go on for a long time, until the patient tries to visit the doctor and discovers that their Medicare has been canceled (you lose your Medicare once you go into hospice).

Another scam: offer patients the loosest narcotics policy in town, promising all the opioids they want. Then, once their benefits expire, let them die of an overdose (don’t worry, people who die in hospice don’t get autopsies):

https://www.newyorker.com/magazine/2022/12/05/how-hospice-became-a-for-profit-hustle

You can hire con artists to serve as your sales-force, and have them talk vulnerable, elderly people into enrolling in hospice care by convincing them they have nothing to live for and should just die already and not burden their loved ones any longer.

Hospitals and hospices also collude: hospitals can revive dying patients, ignoring their Do Not Resuscitate orders, so they can be transfered to a hospice and die there, saving the hospital from adding another dead patient to their stats.CMS’s solution is perverse: they’re working with Humana to expand Medicare Advantage (a scam that convinces patients to give up Medicare and enrol in a private insurance program, whose private-sector death panel rejects 13% of claims that Medicare would have paid for). The program will pay private companies $32,000 for every patient who agrees to cease care and die. As our friends on the right like to say, “incentives matter.”

Appelbaum and co have a better idea:

Do more enforcement: increase inspections and audits.

Block mergers and rollups of hospices that make them too big to fail and too big to jail.

Close existing loopholes.

They should know. Appelbaum and her co-authors write the best, most incisive analysis of private equity around. For more of their work, check out their proposal for ending pension-plan ripoffs by Wall Street firms:

https://pluralistic.net/2022/05/05/mego/#A09948

Catch me on tour with Red Team Blues in Burbank, Mountain View, Berkeley, San Francisco, Portland, Vancouver, Calgary, Toronto, DC, Gaithersburg, Oxford, Hay, Manchester, Nottingham, London, and Berlin!

[Image ID: An industrial meat grinder, fed by a conveyor belt. A dead, elderly man is traveling up the conveyor, headed for the grinder's intake. The grinder is labelled 'HOSPICE' in drippy Hallowe'en lettering. It sits in a spreading pool of blood.]

Image: Seydelmann (modified) https://commons.wikimedia.org/wiki/File:GW300_1.jpghttps://commons.wikimedia.org/wiki/File:GW300_1.jpg

CC BY-SA 3.0 https://creativecommons.org/licenses/by-sa/3.0/deed.en

[prajwal-agale001]

According to Meticulous Research®, the pet oral care market is set to reach $3 billion by 2030, growing at a CAGR of 6.1% during the forecast period. This growth is fueled by increasing pet ownership and population, rising pet expenditure and insurance, and the growing incidence of dental diseases in pets. The market is segmented by product types (such as toothpaste, toothbrushes, mouthwash, dental chews, and additives), animal type (dogs and cats), sales channels (including online platforms and offline stores like pet shops, supermarkets, and pharmacies), and geography. The study also assesses industry competitors and their market share on both global and regional scales.

[creativeera]

The Middle East and Africa Animal Healthcare Market is Poised for Exponential Growth driven by Rising Pet Ownership

The Middle East and Africa animal healthcare market comprises products such as vaccines, pharmaceuticals, and feed additives used for disease prevention and treatment in livestock animals. The demand for animal healthcare products is increasing due to rising awareness about zoonotic diseases and quality animal proteins. Advances in veterinary medicine and growth of the companion animal market have also fueled the demand for veterinary services and healthcare products in the region.

The Global Middle East and Africa Animal Healthcare Market is estimated to be valued at US$ 5478.77 Bn in 2024 and is expected to exhibit a CAGR of 14% over the forecast period 2024 To 2031. Key Takeaways Key players operating in the Middle East and Africa animal healthcare market are Siegfried, Sanofi, Johnson Matthey, Mallinckrodt, Noramco, Unichem Laboratories, Arevipharma GmbH, Resonance-labs, Sun Pharmaceutical Industries Ltd., Rusan Pharma, Micro Orgo Chem, and Faran Shimi Pharmaceutical Co. These companies are actively focusing on product innovations and expansion strategies to consolidate their market presence. The Middle East And Africa Animal Healthcare Market Demand for animal healthcare products is driven by rising pet ownership and growing consumption of animal-derived food products in the region. Various public and private organizations are undertaking initiatives to promote responsible pet ownership and prevent the spread of zoonotic diseases. Major animal healthcare companies are augmenting their production capacities and distribution networks across Middle Eastern and African countries. Strategic partnerships with local players help global companies to strengthen their supply chain and improve access to remote and rural areas. Collaboration with veterinary bodies and livestock industry associations also help gain consumer trust and market penetration. Market Key Trends The Middle East And Africa Animal Healthcare Market Size and Trends of pet humanization is contributing to the growth of the companion animal healthcare market in the region.Pet owners are increasingly spending more on nutritious pet food, grooming products, accessories, insurance, and advanced medical care. Growing pet obesity and lifestyle diseases have also increased the demand for therapeutic diet food and nutraceuticals for companion animals. E-commerce platforms are further facilitating the accessibility of diverse pet care products in the region.

Porter’s Analysis Threat of new entrants: High capital requirements and ongoing R&D investments of new drugs pose substantial barriers to entry. Bargaining power of buyers: Buyers have moderate bargaining power as there are many established brands to choose from. Bargaining power of suppliers: Suppliers of raw materials and components have moderate bargaining power due to differentiated inputs required. Threat of new substitutes: Threat of new substitutes is moderate as alternative treatment options are available in case of non-performance or high prices. Competitive rivalry: Intense competition exists among existing players to gain market share through product differentiation, marketing activities and competitive pricing. Geographical Regions The Middle East and Africa animal healthcare market in terms of value is currently concentrated in countries like Saudi Arabia, South Africa, and Egypt. Rapid urbanization and rising pet ownership are driving the demand for animal healthcare products in these countries. South Africa accounts for over 25% of the total market value in the region currently due to strong beef and dairy industries. The fastest growing geographical region for the Middle East and Africa animal healthcare market is expected to be West Africa over the forecast period 2024 to 2031. Countries like Nigeria, Ghana, and Ivory Coast are projected to witness double-digit growth rates during this period led by rising livestock production, increasing awareness about animal diseases, and growing veterinary healthcare infrastructure in the region. Economic development and changing diets are supporting the expansion of the livestock sector which is supporting the animal healthcare market growth.

Get more insights on Middle East And Africa Animal Healthcare Market

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Vaagisha brings over three years of expertise as a content editor in the market research domain. Originally a creative writer, she discovered her passion for editing, combining her flair for writing with a meticulous eye for detail. Her ability to craft and refine compelling content makes her an invaluable asset in delivering polished and engaging write-ups.

(LinkedIn: https://www.linkedin.com/in/vaagisha-singh-8080b91)

[industrynewsupdates]

A Comprehensive Guide to Medical Coveralls Procurement Intelligence

The global medical coveralls category is anticipated to grow at a CAGR of 7.4% from 2023 to 2030. The most important PPE in the world was the hooded disposable coveralls in 2020 - 2021. Due to the COVID-19 pandemic, there has been an increase in demand for disposable protective coveralls/apparel because of heightened awareness of self-protection. On a parent level, the PPE category is experiencing tremendous growth due to its industry-agnostic nature and varied applications. The growth of the category is being driven by emerging diseases, such as the September 2022 Ebola outbreak in Uganda and the SARS, new Omicron, and flu variants worldwide. This has increased the need for protection for frontline healthcare workers. All such factors are boosting the demand for medical coveralls globally.

Disposable protective coveralls can be categorized into various levels based on their strength of protection such as - Categories I (minimal risk), II (medium risk), and III (complex PPE). According to EU standards, the medical coveralls can be classified into different types - Type 1, 2, 3, 4, 5, and 6. The compliance requirements for types 1 to 4 include EN 14605 and EN 13982-1 for types 5 and 6. With advancements in technology, compliance requirements also play a key role. Over the years, medical coveralls have evolved from being basic garments into technologically advanced protective gear. As a result of technological advancements, coverall fabrics have also been designed to contain antimicrobial properties. Nanotechnology enabled the creation of nanoparticles embedded in coverall fibers for added protection. The latest medical coverall technology involves ‘smart’ coveralls with built-in sensors to monitor vital signs and alert healthcare professionals of any anomalies.

The medical coveralls category is highly fragmented. The top fifteen to twenty players account for a nominal share of the market. The major players in this category include raw-material suppliers, PPE divisions of major conglomerates, pure-play PPE/medical coveralls manufacturers, and wholesale and retail distributors. Within each segment again, the dynamics vary, which further reduces the bargaining power of suppliers. Manufacturers of coveralls are constantly trying to innovate by employing different types of materials. One instance is the use of SMS fabrics. These fabrics can withstand liquid while being available at competitive prices.

Order your copy of the Medical Coveralls Procurement Intelligence Report, 2023 - 2030, published by Grand View Research, to get more details regarding day one, quick wins, portfolio analysis, key negotiation strategies of key suppliers, and low-cost/best-cost sourcing analysis

The major cost components in the medical coveralls category include raw materials, equipment and machinery, labor, facilities and storage, packaging, freight and transportation, and others. Other costs can include testing and inspection, marketing, insurance, tax, overhead expenses, administrative expenses, etc. Medical coveralls are critical for healthcare workers to prevent and control infection. They are designed to provide out-and-out protection from any kind of exposure.  Hence the selection of the fabric or the raw material must be considered carefully. Synthetic fibers such as nylon 6,6, polyester (PET), polypropylene (PP), and polyethylene (PE) are some of the key fabrics considered to manufacture medical or PPE coveralls.

The majority of disposable coveralls are made of synthetic non-woven fabric, which is a single-use material. However, to improve the longevity and range of applications, woven cloth has witnessed some advancements in recent times. Raw materials form the largest cost component in this category. Factors such as the thickness and weight of the fabric, production or order quantity, single-layer or multi-layer structures, and the type of material chosen can further influence the total cost.

Polypropylene is also another cost-effective material that is widely used. In Q3 2023, PP prices in the North American region fluctuated a lot. The start of the third quarter witnessed a 1 - 2% drop in prices owing to a reduction in feedstock PP prices amid inflationary pressure. The continuous inflation forced consumers to reduce their consumption. As a result, demand remained low amid ample supply, which supported the decline. However, at the end of Q3 PP prices increased by 3 - 4% owing to a 5 - 6% rebound increase in feedstock PP prices and a positive demand from the automotive industry. In October 2023, PP prices in the EU region reached EUR 1,393 per MT. This was a 6% increase from September 2023.

In terms of sourcing intelligence, India, China, Malaysia, and Thailand are the most preferred countries to source medical coveralls. In 2022, China was the largest manufacturer of non-woven fabrics. The majority of medical coveralls use nonwoven fabrics. However, production in India has also ramped up steadily since the pandemic. The PPE industry in India has thrived due to low production costs, easy access to raw materials, and zero border restrictions for trade. India’s regulatory framework has significantly improved since 2021 in the PPE industry. It is common for most large end-user organizations to outsource the production of their medical coveralls.

When procuring medical coveralls, it is important to evaluate the suppliers based on product durability, quality, certifications, and protection parameters. Another key sourcing strategy is to ensure that the production process adheres to regulatory requirements and good manufacturing practices (GMP). For instance, the WHO states that the coveralls (or gowns) must meet AAMI-PB70 requirements. Other important regulatory bodies include the American National Standards Institute (ANSI) and the Association of the Advancement of Medical Instrumentation (AAMI). In the case of the raw material or fabrics used, the different standards include ISO 16604, EN 14126 Annex A, ISO 22611, ISO 22612, EN 16604 or ASTM D1238 for testing purposes, AAMI 4 level compliant coverall, etc.

Browse through Grand View Research’s collection of procurement intelligence studies:

• Medical Waste Disposal Procurement Intelligence Report, 2023 - 2030 (Revenue Forecast, Supplier Ranking & Matrix, Emerging Technologies, Pricing Models, Cost Structure, Engagement & Operating Model, Competitive Landscape)

• Medical Writing Procurement Intelligence Report, 2023 - 2030 (Revenue Forecast, Supplier Ranking & Matrix, Emerging Technologies, Pricing Models, Cost Structure, Engagement & Operating Model, Competitive Landscape)

Medical Coveralls Procurement Intelligence Report Scope

• Medical Coveralls Category Growth Rate: CAGR of 7.4% from 2023 to 2030

• Pricing Growth Outlook: 8% - 9% (Annually)

• Pricing Models: Volume-based and contract-based pricing model

• Supplier Selection Scope: Cost and pricing, past engagements, productivity, geographical presence

• Supplier Selection Criteria: Production capacity, type of material (PP, PET, PE), material thickness, sterility, compliance and safety measures, certifications, testing, operational and functional capabilities, technology used, and others

• Report Coverage: Revenue forecast, supplier ranking, supplier positioning matrix, emerging technology, pricing models, cost structure, competitive landscape, growth factors, trends, engagement, and operating model

Key Companies 

• 3M

• Ansell

• Kimberly-Clark Worldwide, Inc.

• Cardinal Health

• O&M Halyard, Inc.

• Lakeland, Inc.

• Derekduck Industries Corp.

• Plasti Surge Industries

• Winner Medical Co., Ltd.

• DuPont de Nemours Inc.

Brief about Pipeline by Grand View Research:

A smart and effective supply chain is essential for growth in any organization. Pipeline division at Grand View Research provides detailed insights on every aspect of supply chain, which helps in efficient procurement decisions.

Our services include (not limited to):

• Market Intelligence involving – market size and forecast, growth factors, and driving trends

• Price and Cost Intelligence – pricing models adopted for the category, total cost of ownerships

• Supplier Intelligence – rich insight on supplier landscape, and identifies suppliers who are dominating, emerging, lounging, and specializing

• Sourcing / Procurement Intelligence – best practices followed in the industry, identifying standard KPIs and SLAs, peer analysis, negotiation strategies to be utilized with the suppliers, and best suited countries for sourcing to minimize supply chain disruptions

[healthcaremarketanalysis]

The global veterinary equipment market in terms of revenue was estimated to be worth $2.2 billion in 2023 and is poised to reach $3.2 billion by 2028, growing at a CAGR of 7.1% from 2023 to 2028. The new research study consists of an industry trend analysis of the market. The new research study consists of industry trends, pricing analysis, patent analysis, conference and webinar materials, key stakeholders, and buying behaviour in the market. The primary factors driving growth for the veterinary equipment supplies market during the projected period are advancements in veterinary technology, an increase in the population of pets and their owners, increasing demand for livestock veterinary products, rise in the need for pet insurance, an increase in the expense of animal health care, and an increase in the prevalence of diseases in animals.

[tamanna31]

Insulin Delivery Devices Market Size, Share, Growth, Analysis Forecast to 2030

Insulin Delivery Devices Industry Overview

The global insulin delivery devices market size was estimated at USD 16.43 billion in 2023 and is expected to grow at a CAGR of 7.89% from 2024 to 2030.

The surge in market growth is largely attributed to the rising global prevalence of diabetes, which has heightened the demand for advanced and user-friendly solutions for diabetes management. Technological advancements play a crucial role in the market growth, with the development of devices that are more effective, less invasive, and tailored to meet patients' individual needs.

Furthermore, integrating digital technology with insulin delivery devices is expected to boost market growth. This includes the rise of Continuous Glucose Monitoring (CGM) systems that work in tandem with insulin delivery devices to provide real-time glucose monitoring and automated insulin adjustments.

Gather more insights about the market drivers, restrains and growth of the Insulin Delivery Devices Market

Technological advancements in diabetes management have significantly transformed insulin delivery methods, evolving from traditional injections to more advanced, minimally invasive techniques. Initially, insulin administration faced challenges in maintaining consistent blood glucose levels. However, the advent of insulin pens facilitated easier self-administration, reducing discomfort. The development of insulin pumps allowed for continuous insulin infusion, enhancing glucose control. A pivotal advancement was the introduction of Continuous Glucose Monitoring (CGM) devices, providing real-time glucose data, essential for informed decision-making. This set the stage for Artificial Pancreas Systems (APS), which integrate CGM data with insulin pumps for automated delivery, closely mimicking natural pancreatic function. Bionic technology, blending biological and artificial processes, has been instrumental in advancing insulin delivery. It underpins devices such as APS, utilizing algorithms, sensors, and automated pumps for precise blood sugar regulation, minimizing manual intervention. These innovations offer tailored, user-friendly solutions, notably improving patient outcomes. Modern insulin pumps, equipped with CGM integration, predictive algorithms, and smartphone connectivity, exemplify significant progress in device functionality, offering accurate and adaptable insulin management. These features not only mitigate risks associated with blood glucose extremes but also empower users with finer control over their insulin dosing, responding dynamically to glucose level changes.

Browse through Grand View Research's Medical Devices Industry Research Reports.

The global nucleic acid therapeutics CDMO market size was estimated at USD 13.53 billion in 2023 and is projected to grow at a CAGR of 14.10% from 2024 to 2030. 

The global PET scanners market size was valued at USD 2.64 billion in 2023 and is projected to grow at a CAGR of 3.65% from 2024 to 2030.

Key Insulin Delivery Devices Company Insights

The insulin delivery devices market is a dynamic and rapidly evolving segment within the medical device industry, primarily driven by the increasing prevalence of diabetes globally. This market includes a range of devices designed to administer insulin to diabetic patients, aiming to maintain their blood glucose levels. As diabetes management shifts towards more patient-friendly, efficient, and less invasive methods, the demand for innovative insulin delivery devices has surged. The insulin delivery devices market is highly competitive, with companies continuously innovating and expanding their product lines to meet the diverse needs of diabetes patients. Market share is influenced by factors such as product innovation, ease of use, accessibility, and insurance coverage. Major players such as Novo Nordisk, Sanofi, and Eli Lilly dominate the market due to their extensive product ranges, global presence, and strong brand recognition. However, smaller companies and startups are also making significant inroads by focusing on niche segments, such as wearable insulin delivery devices and smart insulin pens, challenging the dominance of established players.

Key Insulin Delivery Devices Companies:

The following are the leading companies in the insulin delivery devices market. These companies collectively hold the largest market share and dictate industry trends.

Novo Nordisk A/S

Sanofi

Eli Lilly and Company

Ypsomed AG

Medtronic

Insulet Corporation

B. Braun SE

Owen Mumford Ltd.

Tandem Diabetes Care, Inc.

BD (Becton, Dickinson, and Company)

Recent Developments

In August 2023, Novo Nordisk A/S and Inversago Pharma have reached an agreement wherein Novo Nordisk will acquire Inversago for a sum that could reach up to 1.075 billion US dollars in cash, contingent upon the fulfillment of specific development and commercial benchmarks. Based in Montreal, Inversago Pharma is a privately held company specializing in the development of therapies targeting the CB1 receptor aimed at potentially treating obesity, diabetes, and related metabolic disorder complications.

In March 2023, Diabeloop, a forefront company in Automated Insulin Delivery technology, announced a partnership with the renowned healthcare giant, Novo Nordisk. This collaboration focuses on the integration of Diabeloop's advanced self-learning algorithm, DBL-4pen, specifically designed for Multiple Daily Injections (MDI) therapy, with Novo Nordisk's innovative, connected, and reusable insulin pens, namely NovoPen 6 and NovoPen Echo Plus. To assess the effectiveness and clinical advantages of this integrated solution, Diabeloop is gearing up to conduct a specialized study aimed at individuals diagnosed with Type 2 diabetes.

Sanofi announced a significant reduction in the list price for its widely used insulin product, Lantus (insulin glargine injection) 100 Units/mL, in the U.S., slashing it by 78%. In addition, the company introduced a cap of $35 on out-of-pocket expenses for all commercially insured patients needing Lantus, highlighting its ongoing dedication to making medications more affordable. These actions, effective from January 1, 2024, build upon earlier measures from June 2022 aimed at reducing the cost of diabetes medications. These included releasing a non-branded version of Lantus at 60% below its list price and implementing a $35 maximum on the out-of-pocket costs for insulin for individuals without insurance. Thanks to these comprehensive efforts, Sanofi has ensured that patients will not spend over $35 for a month's supply of Lantus. In a further step, Sanofi also announced a 70% reduction in the list price of its short-acting insulin, Apidra (insulin glulisine injection) 100 Units/mL.

In November 2022, Novo Nordisk and Abbott announced their partnership aiming enhanced data integration capabilities for individuals with diabetes. This development leverages smart technology by making Novo Nordisk's connected insulin pens, specifically the NovoPen 6 and NovoPen Echo Plus, compatible with the Abbott FreeStyle LibreLink application. This compatibility facilitates a centralized view of insulin dosage and glucose levels, streamlining patient monitoring and management. Users can effortlessly sync their insulin dosing information by simply tapping their pen on a smartphone, enabling a cohesive display of insulin and glucose data. This integration aims to aid patients in analyzing how insulin dosage adjustments and timing influence their glucose trends, thereby optimizing diabetes management.

Order a free sample PDF of the Insulin Delivery Devices Market Intelligence Study, published by Grand View Research.

[secretofresearch]

Veterinary Services Market is Estimated to Witness High Growth

The veterinary services market involves a wide range of important medical services for animals including preventive care, medication, surgeries and other treatment procedures. Regular veterinary exams help monitor animal health and detect problems early. Veterinary professionals also play a key role in disease prevention through vaccination programs. Emerging technologies are revolutionizing veterinary treatment with treatments such as regenerative medicine gaining popularity.

The global veterinary services market is estimated to be valued at US$ 130.16 billion in 2024 and is expected to exhibit a CAGR of 5.0% over the forecast period from 2024 to 2031.

Key Takeaways

Key players operating in the veterinary services are Fagron Sterile Services US, New Drug Loft & VLS Pharmacy, Nora Apothecary, Lifecare Pharmacy, Avella Specialty Pharmacy, Triangle Compounding Pharmacy, O€TMBrien Pharmacy, Tache Pharmacy, Northmark Pharmacy, Edge Pharma, and ImprimisRx. The veterinary services market presents significant opportunities owing to rising pet ownership globally and increasing per capita spending on pet care. Technological advancements are also supporting market growth with emerging therapies such as regenerative medicine gaining popularity for conditions which were earlier untreatable.

The key opportunities in the Veterinary Services Market Demand include rising penetration in developing countries with growing pet adoption, opportunities for multi-specialty services with urbanization and nuclear families, and scope for preventive healthcare programs. Technological innovation is a key enabler in the market with emerging technologies such as regenerative medicines, biologics and stem cell treatment impacting disease management.

Market drivers

One of the key drivers for the veterinary services market is growing pet population globally coupled with rising pet care expenditure. Pet humanization trends have significantly increased spending on pet food, healthcare, insurance and accessories. According to the latest APPA National Pet Owners Survey, U.S. pet industry expenditure reached a record $103.6 billion in 2019, with over $31 billion spent on veterinary care. Growing pet ownership and increasing willingness to spend on pet healthcare is a major market driver.

Current challenges in the Veterinary Services Market:

The veterinary services market is facing several challenges currently. One of the major challenges is the shortage of veterinarians globally. There is currently an unmet demand for veterinary care due to lack of sufficient veterinary professionals. This leads to delay in delivery of care. Another challenge is rising veterinary care costs. The costs associated with veterinary medicine and surgeries have increased significantly over the years. This pressure on budgets restricts access to quality care for many pet owners. Lack of awareness among pet owners regarding veterinary preventive healthcare is also a challenge. Many pet owners only seek treatment when their pet falls sick rather than focusing on preventive healthcare checkups. This affects timely diagnosis and treatment.

SWOT Analysis

Strength: Strong bond between veterinarians and pet owners leads to loyalty; Growing pet humanization trend boosts demand.

Weakness: Shortage of vets causes delay in care; Higher costs restrict broader access to care.

Opportunity: Rising pet adoption during COVID drives future growth; Scope for preventive healthcare awareness programs.

Threats: Threat from illegal or unqualified Veterinary Services Market Analysis offering low-cost services; Risk of new pet diseases and virus outbreaks.

Geographical Regions

North America dominated the veterinary services market in terms of value in the historical period due to high pet ownership and growing expenditure on pet care in countries like the US and Canada. Asia Pacific is expected to be the fastest growing region during the forecast period driven by factors like rising affluence, nuclearization of families and increasing awareness about animal health in major countries.

The United States represents the most concentrated geographical region for the veterinary services market currently. Within the country, states like California, Texas and New York have emerged as major hubs for both veterinary practices and companion animal care expenditures. Other developed countries within North America and Western Europe also exhibit high demand density due to high pet ownership.

Get more insights on Veterinary Services Market

About Author:

Vaagisha brings over three years of expertise as a content editor in the market research domain. Originally a creative writer, she discovered her passion for editing, combining her flair for writing with a meticulous eye for detail. Her ability to craft and refine compelling content makes her an invaluable asset in delivering polished and engaging write-ups.

(LinkedIn: https://www.linkedin.com/in/vaagisha-singh-8080b91)

[tejalbele-2024]

Animal Vaccines Market Worth Observing Growth $15.20 Bn, Globally, by 2030 at 5.2% CAGR: AMR

Growth in demand for pet insurance and rise in prevalence of animal diseases drive the growth of the global animal vaccines market.

These vaccines are effective over traditionally developed vaccines in preventing infections. Thus, this factor is anticipated to boost the demand of animal vaccines in near future. quote”

— Allied Market Research

Allied Market Research published a report, titled, "Animal Vaccines Market by Type (Attenuated Vaccines, Inactivated Vaccines, Subunit Vaccines, Toxoid Vaccines, Conjugate Vaccines, Recombinant Vaccines, and DNA Vaccines) and Animal Type (Companion Animal, Livestock Animal, and Aquaculture): Global Opportunity Analysis and Industry Forecast, 2021–2030." According to the report, the global animal vaccines market generated $9.09 billion in 2020, and is expected to reach $15.20 billion by 2030, growing at a CAGR of 5.2% from 2020 to 2030.

Vaccines help develop naturally acquired immunity by stimulating the immune system with the help of either non-pathogenic organisms or by their immunogenic components. Animal vaccines are essential to increase the welfare of the animal and reduce the monetary loss of their owners. These consist of attenuated and subunit vaccines and are useful in the prevention of diseases through their mode of action. Animal vaccines are eco-friendly products that help reduce the use of antibiotics and risk of drug-resistant microorganisms.

𝐅𝐨𝐫 𝐑𝐢𝐠𝐡𝐭 𝐏𝐞𝐫𝐬𝐩𝐞𝐜𝐭𝐢𝐯𝐞 𝐚𝐧𝐝 𝐂𝐨𝐦𝐩𝐞𝐭𝐢𝐭𝐢𝐯𝐞 𝐈𝐧𝐬𝐢𝐠𝐡𝐭𝐬, 𝐆𝐞𝐭 𝐒𝐚𝐦𝐩𝐥𝐞 𝐑𝐞𝐩𝐨𝐫𝐭 𝐚𝐭: https://www.alliedmarketresearch.com/request-sample/1988

𝐏𝐫𝐢𝐦𝐞 𝐝𝐞𝐭𝐞𝐫𝐦𝐢𝐧𝐚𝐧𝐭𝐬 𝐨𝐟 𝐠𝐫𝐨𝐰𝐭𝐡

Growth in demand for pet insurance, rise in prevalence of animal diseases, surge in expenditure for animal health, and increase in ownership of companion animal drive the growth of the global animal vaccines market. However, highly competitive meat and milk prices and adverse impact of veterinary vaccines on human and animal health hinders the market growth. On the other hand, advancement in vaccine product and rise in demand for hybrid animal create new opportunities in coming years.

𝐂𝐨𝐯𝐢𝐝-𝟏𝟗 𝐒𝐜𝐞𝐧𝐚𝐫𝐢𝐨

The emergence of covid-19 affected the animal vaccine market negatively. The veterinary organizations across the globe have recommended limiting animal patient care to acutely ill animals and emergencies. The lockdown measures have led to rescheduling of annual checkup exams and elective vaccination procedures. The supply of animal vaccination witnessed disruptions to certain point. However, the manufacturers ensured proper supply of animal vaccinations. The attenuated vaccines segment to maintain its dominant position during the forecast period

Based on product, the attenuated vaccines a segment held the highest market share in 2020, accounting for nearly two-fifths of the global animal vaccines market, and is expected to maintain its dominant position during the forecast period. This is attributed to availability of advanced technology for specific mutations/deletions in genes of the virus. However, the DNA vaccines segment is estimated to witness the highest CAGR of 8.10% from 2020 to 2030, owing to increase in prevalence of animal diseases, and its easy manipulation as compared to traditional vaccines.

The animal vaccines market is segmented into companion animal, livestock animal, and aquaculture. The companion animal segment is further segmented into cats and dogs. The livestock animal segment is further classified into cattle, pigs, poultry, sheep, and others (goats, horses, asses, camel, and others). The companion animal segment is expected to be the fastest growing segment throughout the analysis period and accounted for almost one-third of the total share of the market in 2020.

𝐃𝐨 𝐘𝐨𝐮 𝐇𝐚𝐯𝐞 𝐀𝐧𝐲 𝐐𝐮𝐞𝐫𝐲 𝐎𝐫 𝐒𝐩𝐞𝐜𝐢𝐟𝐢𝐜 𝐑𝐞𝐪𝐮𝐢𝐫𝐞𝐦𝐞𝐧𝐭? 𝐀𝐬𝐤 𝐭𝐨 𝐎𝐮𝐫 𝐈𝐧𝐝𝐮𝐬𝐭𝐫𝐲 𝐄𝐱𝐩𝐞𝐫𝐭: https://www.alliedmarketresearch.com/purchase-enquiry/1988

𝐓𝐡𝐞 𝐥𝐢𝐯𝐞𝐬𝐭𝐨𝐜𝐤 𝐬𝐞𝐠𝐦𝐞𝐧𝐭 𝐭𝐨 𝐦𝐚𝐢𝐧𝐭𝐚𝐢𝐧 𝐢𝐭𝐬 𝐥𝐞𝐚𝐝𝐞𝐫𝐬𝐡𝐢𝐩 𝐬𝐭𝐚𝐭𝐮𝐬 𝐛𝐚𝐬𝐞𝐝 𝐨𝐧 𝐫𝐞𝐯𝐞𝐧𝐮𝐞 𝐛𝐲 𝟐𝟎𝟑𝟎

Based on animal type, the livestock animal segment accounted for nearly than two-thirds of the global animal vaccines market in 2020, and is projected to maintain its leadership status based on revenue by 2030. Increase in the prevalence of various infectious diseases among livestock animals and surge in awareness related to importance of immunization. However, the companion animal segment is expected to portray the highest CAGR of 5.50% from 2020 to 2030. The increase in awareness regarding medical illnesses & ailments of companion animals and growth in animal healthcare expenditure worldwide drive the growth of the segment.

𝐍𝐨𝐫𝐭𝐡 𝐀𝐦𝐞𝐫𝐢𝐜𝐚 𝐭𝐨 𝐦𝐚𝐢𝐧𝐭𝐚𝐢𝐧 𝐢𝐭𝐬 𝐡𝐢𝐠𝐡𝐞𝐬𝐭 𝐜𝐨𝐧𝐭𝐫𝐢𝐛𝐮𝐭𝐢𝐨𝐧 𝐭𝐡𝐫𝐨𝐮𝐠𝐡𝐨𝐮𝐭 𝐭𝐡𝐞 𝐟𝐨𝐫𝐞𝐜𝐚𝐬𝐭 𝐩𝐞𝐫𝐢𝐨𝐝

Based on region, North America held the majority share in 2020, with nearly two-fifths of the total share of the global animal vaccines market, and will maintain its highest contribution throughout the forecast period. This is due to established veterinary organizational structures and concern amongst people to ensure animal health. However, Asia-Pacific is expected to maintain the highest CAGR of 5.90% during the forecast period, owing to increase in need of protection of livestock from mass wipeouts due to epidemics, especially in countries such as India.

𝐋𝐞𝐚𝐝𝐢𝐧𝐠 𝐦𝐚𝐫𝐤𝐞𝐭 𝐩𝐥𝐚𝐲𝐞𝐫𝐬

Merck & Co., Inc., Zoetis Inc., Ceva Santé Animale, Sanofi S.A., Romvac, Vaxxinova, Biovac, Merial, Boehringer Ingelheim GmbH, Anicon Labor GmbH

Animal vaccines are eco-friendly products that help reduce the use of antibiotics and risk of drug-resistant microorganisms. They help protect animal health by immunizing the animal from any particular disease. These vaccines are essential for animal well-being, production of food, and safety of public health. Animal vaccines is a component of a larger field of medicine called veterinary biologics (VB).

𝐀𝐛𝐨𝐮𝐭 𝐀𝐥𝐥𝐢𝐞𝐝 𝐌𝐚𝐫𝐤𝐞𝐭 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡:

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Wilmington, Delaware. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domains. AMR offers its services across 11 industry verticals including Life Sciences, Consumer Goods, Materials & Chemicals, Construction & Manufacturing, Food & Beverages, Energy & Power, Semiconductor & Electronics, Automotive & Transportation, ICT & Media, Aerospace & Defense, and BFSI.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

[bhavanameti]

Pet Oral Care Market Expected to Hit $3 Billion by 2030

Meticulous Research®—a leading global market research company, published a research report titled, ‘Pet Oral Care Market by Product (Toothpaste, Toothbrush, Mouthwash, Chewable, Additives), Animal Type (Dogs, Cats), Sales Channel (e commerce, Pet Store, Pharmacy, Supermarkets, Veterinary Hospitals), Geography - Global Forecast to 2030.’

The latest report from Meticulous Research® predicts that the pet oral care market will reach $3 billion by 2030, with a CAGR of 6.1% during the forecast period. This growth is driven by increasing pet ownership, higher pet expenditure and insurance, and the prevalence of dental diseases in pets.

Market Overview:

The study segments the market by product, animal type, sales channels, and geography, analyzing industry competitors and their market share on global and regional levels.

Key Insights:

Dental Chews: Expected to have the highest CAGR, driven by ingredient innovations and new product launches such as Clear Conscience Pet's plaque-preventive chew with Kelp.

Dogs: This segment leads the market due to widespread adoption and increased awareness of pet oral health, especially in developed countries.

Online Sales: Projected to witness the highest growth, driven by increased pet health awareness, rising pet adoption, and the convenience of online shopping.

Geographic Analysis:

The report offers a comprehensive analysis of key regions: North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. North America is expected to lead the market, with the U.S. being the largest contributor due to high pet health expenditure and awareness.

Download Sample Report Here @ https://www.meticulousresearch.com/download-sample-report/cp_id=2692

 Key Questions Addressed:

What are the high-growth segments by product, animal type, sales channel, and region?

What is the historical market performance?

What are the market forecasts and estimates for 2023–2030?

What are the main drivers, restraints, challenges, opportunities, and trends?

Who are the major players and what is the competitive landscape?

What are the recent developments and strategies adopted?

What are the geographic trends and high-growth regions/countries?

Contact Us: Meticulous Research® Email- sales@meticulousresearch.com Contact Sales- +1-646-781-8004 Connect with us on LinkedIn- https://www.linkedin.com/company/meticulous-research

[themarketupdate]

Global Metal Casing Market Will Hit Big Revenues In Future | Biggest Opportunity Of 2024

Latest added Global Metal Casing Market research study by Archive Market Research offers detailed outlook and elaborates market review till 2030. The market Study is segmented by key regions that are accelerating the marketization. At present, the market players are strategizing and overcoming challenges of current scenario; some of the key players in the study are Amazon Web Services, Inc. (Washington, United States),Google LLC (California, United States),IBM Corporation (New York, United States),Microsoft Corporation (Washington, United States),SAP SE (Germany),Yellow Messenger (Karnataka, India),Labiba for Artificial Intelligence LLC (Dubai, United Arab Emirates),Gupshup (Maharashtra, India),SmartBots (Texas, United States),Aivo (Córdoba, Spain),Aifa.AI (Sydney, Australia),Dogtown Media. (California, United States),Peerbits. (Gujarat, India),Master of Code Global. (California, United States),Peltarion (Stockholm, Sweden),Verloop (Karnataka, India),Crisp IM SARL (France),LiveChat, Inc. (Massachusetts, United States),ManyChat, Inc. (San Francisco, United States),Chatfuel (San Francisco, United States),PandoraBots (California, United States),Botscrew (London, UK) etc.  Click for Free Sample Report + All Related Graphs & Charts https://archivemarketresearch.com/report/pet-snacks-and-treats-market-7/sample-report The Global Metal Casing Market size was valued at USD 33.27 billion in 2023 and is projected to reach USD 41.48 billion by 2032, exhibiting a CAGR of 3.2 % during the forecasts period. The latest edition of this report you will be entitled to receive additional chapter / commentary on latest scenario, economic slowdown and COVID-19 impact on overall industry. Further it will also provide qualitative information about when industry could come back on track and what possible measures industry players are taking to deal with current situation. Each of the segment analysis table for forecast period also high % impact on growth. The Global Global Metal Casing segments and Market Data Break Down are illuminated below: {"Component: Platform/Software Development Kit and Services","Deployment: Cloud and On-premises","Application: Website, Contact Centers, Social Media and Mobile Application","Industry: Banking, Financial Services and Insurance (BFSI"}

Have Any Questions Regarding Global Global Metal Casing Market Report, Ask Our Experts@ https://archivemarketresearch.com/report/pet-snacks-and-treats-market-7/enquiry-before-buy This report will give you an unmistakable perspective on every single reality of the market without a need to allude to some other research report or an information source. Our report will give all of you the realities about the past, present, and eventual fate of the concerned Market. Thanks for reading this article, we can also provide customized report as per company’s specific needs. You can also get separate chapter wise or region wise report versions including North America, Europe or Asia.

More Reports:

 https://archivemarketresearch.com/reports/global-metal-casing-market-1957  https://archivemarketresearch.com/reports/anatomic-pathology-market-3060 Contact US : Craig Francis (PR & Marketing Manager) Archive Market Research Unit No. 429, Parsonage Road Edison, NJ New Jersey USA – 08837 Phone: +1 201 565 3262, +44 161 818 8166 sales@advancemarketanalytics.com

[petnews2day]

Pet Insurance Market to See Booming Growth 2024-2031 with Key

New Post has been published on https://petn.ws/3OA0v

Pet Insurance Market to See Booming Growth 2024-2031 with Key

Pet Insurance Market A new report titled “Pet Insurance Market” Trends, Share, Size, Growth, Opportunity and Forecast 2024-2031, by Coherent Market Insights offers a comprehensive analysis of the industry, which comprises insights on the market analysis. The report also includes competitor and regional analysis, and contemporary advancements in the market. global pet insurance market was […]

See full article at https://petn.ws/3OA0v #PetInsuranceNews

[prajwal-agale001]

According to Meticulous Research®, the pet oral care market is set to reach $3 billion by 2030, growing at a CAGR of 6.1% during the forecast period. This growth is fueled by increasing pet ownership and population, rising pet expenditure and insurance, and the growing incidence of dental diseases in pets. The market is segmented by product types (such as toothpaste, toothbrushes, mouthwash, dental chews, and additives), animal type (dogs and cats), sales channels (including online platforms and offline stores like pet shops, supermarkets, and pharmacies), and geography. The study also assesses industry competitors and their market share on both global and regional scales.

[deshpandeisha]

The Growing Field of Animal Ultrasound: A Game Changer in Veterinary Medicine

The global animal ultrasound market size reached USD 286.2 Million in 2020 and is expected to register a revenue CAGR of 8.2% during the forecast period, according to latest analysis by Emergen Research. Increasing number of companion animals and rising demand for pet insurance are some key factors projected to support market revenue growth between 2021 and 2028.

In addition, increasing number of veterinary doctors in developed and developing countries is expected to boost revenue growth of the market going ahead.Increasing number of veterinarians has also resultedin increasingnumberof new treatment facilities, which is expected to boost demand for various treatmentequipment for animals, including animal ultrasound devices.In addition, veterinarians' incomes in developed countries have significantly risen in recent years, and this is strengthening their purchasing power, which is expected to boostadoption of animalultrasound devices in private clinics.

Request a Sample Report with Table of Contents and Figures to click Here: https://www.emergenresearch.com/request-sample/866

Competitive Terrain:

The section on the competitive landscape offers valuable and actionable insights related to the business sphere of the Animal Ultrasound market, covering extensive profiling of the key market players. The report offers information about market share, product portfolio, pricing analysis, and strategic alliances such as mergers and acquisitions, joint ventures, collaborations, partnerships, product launches and brand promotions, among others. The report also discusses the initiatives taken by the key companies to combat the impact of the COVID-19 pandemic.

The leading market contenders listed in the report are:

IDEXX Laboratories, Inc., Carestream Health, Inc., Fujifilm Holdings Corporation, Esaote SpA, GE Healthcare, Heska Corporation, Diagnostic Imaging Systems, Inc., Clarius Mobile Health Corp., DRAMIÑSKI S.A., and Hallmarq Veterinary Imaging Limited

Click to access the Report Study, Read key highlights of the Report and Look at Projected Trends: https://www.emergenresearch.com/industry-report/animal-ultrasound-market

Emergen Research has segmented the global Animal Ultrasound market on the basis of type, application, end-use, and region:

Segments Covered in this report are:

Animal Type Outlook (Revenue, USD Million; 2018–2028)

Large Animals

Small Companion Animals

Imaging Type Outlook (Revenue, USD Million; 2018–2028)

Doppler Imaging

2D Ultrasound Imaging

3D & 4D Ultrasound Imaging

Scanner Type Outlook (Revenue, USD Million; 2018–2028)

Handheld Ultrasound Scanners

Cart-based Ultrasound Scanners

The various regions analyzed in the report include:

North America (U.S., Canada)

Europe (U.K., Italy, Germany, France, Rest of EU)

Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)

Latin America (Chile, Brazil, Argentina, Rest of Latin America)

Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)

Key Objectives of the Report:

Analysis and estimation of the Animal Ultrasound Market size and share for the projected period of 2022-2030

Extensive analysis of the key players of the market by SWOT analysis and Porter’s Five Forces analysis to impart a clear understanding of the competitive landscape

Study of current and emerging trends, restraints, drivers, opportunities, challenges, growth prospects, and risks of the global Animal Ultrasound Market

Analysis of the growth prospects for the stakeholders and investors through the study of the promising segments

Strategic recommendations to the established players and new entrants to capitalize on the emerging growth opportunities

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[bhushans]

Beyond Borders: The Global Companion Animal Specialty Drugs Market Offers Hope for Millions

The global companion animal specialty drug market  is anticipated to grow at a respectable CAGR of 4.21%. In 2022, the market is projected to be valued USD 37,624.67 million. By 2032, the market for specialized medications for companion animals is anticipated to reach a peak value of USD 56,828.56 million. For the relevant market, Future Market Insights specialists have calculated a historical CAGR of 5.42%.

Since the early epidemic phase in 2020, there has been an annual 50% increase in pet adoption in the United States. Families were investing more money in their pets’ health and well-being as a result of the rising pet adoption rate. A lot of individuals consider their dogs to be family members. Furthermore, there was a significant expansion in the market for animal insurance providers.

Unlock Advanced Analysis With Your Report Sample: https://www.futuremarketinsights.com/reports/sample/rep-gb-3984

One important aspect driving up demand for animal nutrition and behavioral products and driving up sales is the rise in pet adoption. Over the past few years, there has been a sharp increase in demand for anti-obesity medications due to the rising rate of obesity in pets.

During the FQ-20, more people adopted dogs and cats as pets as a result of the COVID-19 outbreak and the ensuing worldwide shutdown. Dog adoption is fairly common, particularly among the elderly population. It is anticipated that this will increase demand for pet nutrition, skin care, and antibiotics.

Key Takeaways

Urbanization and trend of nuclear families have been greatly helpful in increasing market share of companion animal drug market.

People have started considering pets as their family member and this led to increase in overall expenditure of a family, as a result this benefitted the companion market.

Increase in rising pet diseases have provided the industry with a positive push to manufacture more companion drugs to meet the demand

Industrial growth can likely be attributed to a rise food-borne and zoonotic diseases.

Increase in per capita income of urban population, have enabled people to take better care of their pets by means of diagnosis, vaccination, mitigation, and treatment of diseases such as kidney diseases, heartworms and Lyme diseases, which resulted in giving a boost for companion animal specialty drug market share.

COVID-19 had a positive impact on pet adoption rate, with a rise of 50% each year

Technological advancement has been a strong driving factor in market progression of companion animal drug market

Competitive Landscape

Extensive mergers and acquisitions, product portfolios, geographical expansions, and collaborative research initiatives are some of the strategies undertaken by the leading players. Established players in this market have made alliances with different companies to increase their market reach and social media presence. Some well-established players in the US companion animal drug specialty market are:

Merck Animal Health

Elanco

Zoetis

Vetiquinol S.A.

Virbac, Inc.

Norbrook Inc.

Dechra Pharmaceuticals

Patterson Companies, Inc.

Vedco Inc.

Covetrus

MWI Animal Health

Nutramax Laboratories Veterinary Sciences, Inc.

Ellevet Sciences

Recent Developments

In 2017, Zoetis emerged as a leading player with the highest share of compassion animal specialty drugs, as the company has a considerable and significant market presence, a diverse portfolio of product offerings, and an acute strategic perspective which includes M&As, such as the acquisition of Abaxis in 2018.

In July 2019, Zoetis and Colorado state university made an agreement to establish a research lab for the development of immunotherapies for veterinary patients.

In August 2020, Elanco Animal Health Incorporatedannounced that it has acquired Bayer Animal Health. The transaction was valued at USD 6.89 billion. This development helped the company to expand itself in the durable animal health industry.

Key Segments in the Companion Animal Specialty Drugs Market:

By Product:

Antibiotics

Anti-Inflammatory Drugs

Parasiticides

Heartworm

Behavioral Products

Nutritional Products

Anti-Obesity Drugs

Skin Care Products

Vaccines

By Distribution Channel:

Modern Trade

Online Distribution

Neighborhood Stores

Other Retail Format

By Region:

North America

Latin America

Asia Pacific

Middle East & Africa (MEA)

Europe

[healthcaremarketanalysis]

Veterinary Equipment and Supplies Market worth $3.2 billion by 2028

The Global Veterinary Equipment Market in terms of revenue was estimated to be worth $2.2 billion in 2023 and is poised to reach $3.2 billion by 2028, growing at a CAGR of 7.1% from 2023 to 2028. The new research study consists of an industry trend analysis of the market. The new research study consists of industry trends, pricing analysis, patent analysis, conference and webinar materials, key stakeholders, and buying behaviour in the market. The primary factors driving growth for the veterinary equipment supplies market during the projected period are advancements in veterinary technology, an increase in the population of pets and their owners, increasing demand for livestock veterinary products, rise in the need for pet insurance, an increase in the expense of animal health care, and an increase in the prevalence of diseases in animals.

The development of the market will be negatively impacted by the high cost of veterinary equipment, growing pet care expenditures, lack of knowledge about animal health, and the scarcity of qualified veterinarians in developing countries.

Download PDF Brochure:

Veterinary Equipment Supplies Market Dynamics

Driver: Surge in demand pet insurance and rise in animal health expenditure

The veterinary equipment business is driven mostly by rising pet insurance prices and increasing expenses related to animal health. The growing market need for veterinary supplies and equipment is helping manufacturers of veterinary equipment, who are consequently developing new and cutting-edge products to fulfil the needs of customers. Portable veterinary equipment, which allows veterinarians to treat patients at home, is becoming more and more in demand as pet insurance becomes growing in popularity. The demand for high-quality veterinary equipment is growing as a result of rising disposable incomes and greater awareness of animal welfare.

Restraint: Rising pet care costs will negatively impact the veterinary equipment business

There is a decrease in the demand for veterinary equipment because pet owners find it more and more challenging to cover expenses for veterinary treatment, particularly the cost of veterinary equipment, due to rising costs associated with pet ownership. Considering the perspective from veterinary practitioners, A veterinarian may buy a less expensive ultrasound equipment even if it is not as high quality as a more expensive machine in order to keep the cost of veterinary care affordable for their clients. Also, If a pet owner cannot afford the cost of the yearly checkup, they may decide to postpone the pet's checkup. This may cause health issues for the animal and reduce the need for veterinarian equipment.

Opportunity: Emerging market with untapped opportunities

In emerging markets, the number of pets is rising significantly. Many factors are responsible for increasing pets such as urbanization, increased disposable incomes, and shifting lifestyles. The demand for veterinary services and equipment rises along with the number of pets. Countries in Southeast Asia are attractive markets for the veterinary equipment business. These countries have growing middle classes, rising rates of pet ownership, and rising disposable incomes. The veterinary equipment business has a lot of opportunity in emerging markets. Veterinary equipment companies may take advantage of this potential and see substantial growth by learning about the demands of these markets and creating and promoting solutions that address those needs.

Challenge: Shortage of veterinary practitioners in developing countries

The number of veterinary practitioners in the country is strongly corresponding to the demand for veterinary equipment. The need for veterinary equipment will decline if there are not enough veterinary professionals.

Developing countries frequently lack the facilities such as veterinary clinics, hospitals, and diagnostic equipment which are necessary for maintaining veterinary practice. As a result, veterinarians find it challenging to offer their services. A shortage of veterinarians makes it more difficult for manufacturers of veterinary equipment to reach their target market and may result in higher equipment costs. However, such challenges can be overcome by government initiatives for veterinary practitioners in developing countries. Also, Veterinary equipment manufacturers can develop new technologies to support veterinary practice in developing countries, such as portable diagnostic equipment and other telemedicine platforms.

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Critical care consumables segment accounted for the largest share of 72.3% of the veterinary equipment industry

The significant share of the veterinary equipment market of the consumables segment may be attributed to the frequent utilization of consumables when combined with a single piece of capital equipment, as well as the high utilization of these supplies in the delivery of veterinary care, including wound treatment and fluid therapy. Expanding adoption of companion animals, expanding prevalence of diseases, a growing understanding of animal welfare and well-being, and rising costs associated with animal healthcare are some of the primary factors driving the need for critical care consumables.

Anesthesia machines segment accounted for 56.5% of the veterinary equipment industry in 2022

Animals undergoing surgery or other operations can be put unconscious by administering a combination of oxygen and anesthetic gases to them via anesthesia machines. This prevents animals from injury and keeps them from discomfort and suffering. Veterinary anesthesia machines are also becoming increasingly sophisticated, with new features being added all the time. Manufacturers' development of cutting-edge features including graphical panels, clear picture providing loops, and new ventilation modes in anesthesia machines is anticipated to propel the market's growth. According to forecasts, the market for veterinary anesthesia machines would be attributed to growing pet adoption trends, pet-human connection, and rising veterinary care product consumption.

Veterinary clinics are the major end users in the veterinary equipment industry in 2022

For animal owners, clinics are the initial point of contact. Therefore, veterinarian equipment and supplies in clinics are essential. The need for veterinary supplies and equipment is primarily being driven by the rise in patient visits, the number of private clinical practices, and the income of veterinary clinics. The growing veterinary practitioner base across developed countries is one of the major factors responsible for increasing the adoption of veterinary equipment in the coming years.

North America is expected to account for the largest share of the veterinary equipment market in 2022

In 2022, North America dominated the veterinary equipment market with the largest share. Factors such as the increasing number of companion animals, rising companion animal healthcare expenditure, rising number of livestock animals in North America, primarily due to the increasing consumption of meat and dairy products, and growth in the pet insurance market are some of the key factors responsible for the large share of the veterinary equipment supplies market in North America.

Key Players:

Covetrus Inc. (US), B. Braun Vet Care GmbH (Germany), BD Animal Health (US), ICU Medical, Inc. (US), Midmark Corporation (US), Cardinal Health (US), Neogen Corporation (US), Integra LifeSciences (US), Shenzhen Mindray animal medical technology co., ltd. (China), Masimo Corporation (US), Avante Animal Health (US), RWD life science co., ltd (China), Eickemeyer (Germany), Bionet America, Inc (South Korea), Jorgensen Laboratories (US), Nonin Medical (US), Digicare Animal Health (US), Hallowell Engineering And Manufacturing Corporation (US), Grady Medical (US), Mila International Inc. (US), Burtons Medical Equipment Ltd (UK), Vetronic Services Ltd (UK), Advances Veterinary (UK), New Gen Medical Systems (India), Dispomed (Canada)

Recent Developments of Veterinary Equipment Industry

In Aug 2023, ICU Medical received 510(k) regulatory clearance from the U.S. Food and Drug Administration (FDA) for the Plum Duo infusion pump with LifeShield infusion safety software. The Plum Duo pump and LifeShield software will be available to customers in the U.S. in early 2024.

In October 2022, Clayton, Dubilier & Rice (CD&R) and TPG Capital completed acquisition of Covetrus Inc. Covetrus became a private corporation as a result of this transaction, and its shares are no longer listed or traded publicly.

In January 2022, Smiths Medical (US) was acquired by ICU Medical Inc., who declared its completion. Syringe and ambulatory infusion devices, vascular access, and vital medical supplies are all part of Smiths Medical's veterinary product portfolio, which has strengthened ICU Medical's product line.

In December 2021, Covetrus Inc. (US) has successfully acquired the technological platform and infrastructure of VCP. With the help of this purchase, Covetrus will have new opportunities to give veterinarians the resources they need to improve healthcare and build closer relationships with their pet parent clients.

Report Link (Veterinary Equipment and Supplies Market)

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U.S. Veterinary Orthopedic Medicine Market Size, Share & Growth Analysis Report, 2030

U.S. Veterinary Orthopedic Medicine Market Growth & Trends

The U.S. veterinary orthopedic medicine market size is expected to reach USD 814.51 million by 2030, registering a CAGR of 7.2% from 2024 to 2030, according to a new report by Grand View Research, Inc. The market is primarily driven by the increasing pet population, adoption of pet insurance, rising prevalence of diseases among animals, and advancements in veterinary medicine.

For instance, in October 2023, the FDA approved Librela (bedinvetmab injection), making it the first monoclonal antibody for treating osteoarthritis-related pain in dogs. In addition, in April 2022, American Regent Animal Health, a division of American Regent, Inc., received FDA approval to extend the shelf life of Adequan Canine and Adequan i.m. The expiration date for both products was increased from 24 months to 36 months from the date of manufacture.

Key players in the veterinary orthopedic medicine market are engaging in strategic initiatives like product launches, collaborations, and acquisitions to make their market presence more prominent, impelling market growth. In September 2022, Zoetis acquired Jurox, a private animal health company specializing in veterinary medicines for livestock and companion animals. The deal, finalized in August 2021, included Jurox's operations in Australia and regional offices in the U.S., Canada, and the UK. Such initiatives are anticipated to drive market growth.

For instance, in October 2023, Athersys, Inc. (ATHX), a cell therapy and regenerative medicine company, entered into a licensing agreement with Ardent Animal Health. With this move, Athersys, known for its work with MultiStem (invimestrocel) in critical care, entered the field of animal health. This collaboration with Ardent, a veterinary biotech firm specializing in regenerative medicine and cancer therapies for animals, highlights Athersys’ commitment to advancing veterinary care.    

Some key impacts of the pandemic and respective lockdowns on the market include dampened growth, decreased sales, supply chain disruptions, and operational challenges. However, the pandemic also propelled concerns over animal health and welfare, strengthened the pet parent and animal bond, and increased pet adoption. Moreover, the market witnessed an improved medicalization rate, pet expenditure, and adoption of pet insurance.

Increasing pet humanization and improved diagnostic rates were other positive impacts of the COVID-19 pandemic on the veterinary sector. In 2021, the market recorded increased demand and sale of veterinary medicines, including orthopedic medicines. In 2022, other macroeconomic uncertainties, such as global recession and cost inflation, adversely impacted the business. However, as the underlying market drivers remain unchanged owing to an increasing prevalence of orthopedic disorders in dogs and horses, the market is estimated to grow notably over the forecast period.

Request a free sample copy or view report summary: https://www.grandviewresearch.com/industry-analysis/us-veterinary-orthopedic-medicine-market-report

U.S. Veterinary Orthopedic Medicine Market Report Highlights

Based on product, pharmaceuticals segment dominated the market, accounting for a share of 46.72% in 2023. Pharmaceutical treatments for orthopedic diseases in pets, such as Non-steroidal Anti-inflammatory Drugs (NSAIDs) and pain relievers, have been widely used and established as effective treatments for managing pain and inflammation. On the other hand, the viscosupplements segment is anticipated to grow at the fastest CAGR of 8.23% during the forecast period

Based on animal type, the market is segmented into dogs and horses. The dogs segment dominated the market, accounting for a share of 51.98% in 2023. It is also anticipated to grow at the fastest CAGR of 7.80% in the coming decade

Based on application, the osteoarthritis segment accounted for the largest share of 60.65% of the market in 2023. The other segment is expected to grow at the fastest CAGR of 9.39% over the forecast period

Based on route of administration, the market is segmented into injectable, oral, and others (e.g., topical). The injectable segment dominated the market, accounting for a share of 60.40% in 2023. The others (e.g., topical) segment is anticipated to grow at the fastest CAGR of 8.22% in the coming decade

On the basis of end-use, veterinary clinics & hospitals segment accounted for the largest share of 53.59% of the market in 2023. The other segment is expected to grow at the fastest CAGR of 8.68% over the forecast period

U.S. Veterinary Orthopedic Medicine Market Segmentation

Grand View Research has segmented the U.S. veterinary orthopedic medicine market based on product, animal type, application, route of administration, and end-use:

U.S. Veterinary Orthopedic Medicine Product Outlook (Revenue, USD Million, 2018 - 2030)

Biologics

Stem Cells

Platelet-Rich Plasma (PRP)

Other Biologics

Viscosupplements

Pharmaceuticals

Steroids

NSAIDS

Others

U.S. Veterinary Orthopedic Medicine Animal Type Outlook (Revenue, USD Million, 2018 - 2030)

Dogs

Small Breeds

Medium Breeds

Large Breeds

Horses

U.S. Veterinary Orthopedic Medicine Application Outlook (Revenue, USD Million; 2018 - 2030)

Osteoarthritis

Degenerative Joint Disease

Others

U.S. Veterinary Orthopedic Medicine Route Of Administration Outlook (Revenue, USD Million, 2018 - 2030)

Injectable

Intra-Muscular

Intra-Articular

Others

Oral

Others

U.S. Veterinary Orthopedic Medicine End-use Outlook (Revenue, USD Million, 2018 - 2030)

Veterinary Hospitals & Clinics

At-home

Others

List of Key Players in the U.S. Veterinary Orthopedic Medicine Market

Zoetis Services LLC

Ardent Animal Health, LLC

Enso Discoveries

VetStem, Inc.

Contura Vet

PetVivo Holdings, Inc.

T-Cyte Therepeutics

Boehringer Ingelheim International GmbH

Arthrex, Inc.

MEDREGO LLC

Nucleus ProVets

Daiichi Sankyo Company, Limited 

Bimeda U.S.

Browse Full Report: https://www.grandviewresearch.com/industry-analysis/us-veterinary-orthopedic-medicine-market-report