Global pet diabetes care market to reach $2.8B by 2027
by Katie Pfaff
The global pet diabetes care market size reached $1.71 billion in 2021. Looking forward, analysts expect the market to reach $2.76 billion by 2027, exhibiting a CAGR of 8.31%.
Pet diabetes care refers to continuous monitoring of blood sugar levels in animals caused by insulin production. It is a common and prominent metabolic disease that frequently affects pets, such as dogs, cats, and livestock.
It includes insulin therapy and oral medications that stabilize blood sugar levels, help regulate the level of glucose in the bloodstream and control the delivery of glucose to the tissues of the body.
According to a news release from Research and Markets, the increasing number of pet parents who are aware of the overall health and well-being of pets and routinely seek veterinary services are creating a positive outlook for the market, according to Research and Markets. Additionally, the widespread adoption of insulin treatment for diabetic dogs and cats that reduces blood glucose levels by increasing peripheral consumption of glucose and suppressing the production of hepatic glucose is favoring the market growth.
Moreover, the introduction of smart wearable devices integrated with artificial intelligence (AI), machine learning and the Internet of Things for remotely tracking pets' health is proving an impetus to the market growth. In line with this, the launch of highly targeted and specific drugs for diabetes in pets with minimal side effects is positively influencing the market growth.
Learn more about the new report from Research and Markets on the company’s website.
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