What Does the Historical and Current Pet Diabetes Care Devices Market Size Trend Indicate?
The pet diabetes care devices market has seen considerable growth due to a variety of factors.
• The market size for pet diabetes care devices has seen substantial growth in the past few years. The industry is predicted to expand from a value of $2.56 billion in 2024 to $2.74 billion in 2025, exhibiting a compound annual growth rate (CAGR) of 7.0%. Factors such as the launch of glucose monitoring devices, an uptick in pet diabetes instances, better treatment results, increased funding towards pet healthcare, expanded education, and supportive veterinary contributions are the reasons for the expansion observed in the historic period.
How Will the Pet Diabetes Care Devices Market?
The Pet Diabetes Care Devices market is expected to maintain its strong growth trajectory in upcoming years.
• The market for pet diabetes care devices is predicted to experience substantial expansion in the coming years. It is set to enlarge to $3.91 billion in 2029, boasting a compound annual growth rate (CAGR) of 9.3%.
This ascension during the prediction period can be associated with an increase in awareness about pet health, integration of connected devices, tailor-made treatment options, telehealth broadening, and investment in research and development. Key trends during this period consist of collaborations and partnerships, advancements in insulin delivery, promotion of education and awareness, adoption of telemedicine and remote animal healthcare, and personalized and specific treatments.
Which Factors Are Boosting Growth In The Pet Diabetes Care Devices Market?
The rise in pet healthcare expenses is anticipated to boost the growth of the pet diabetes care device market. The spending on pet healthcare constitutes the costs incurred by pet owners for their pet's health problems, including veterinary care, machinery, and necessary pet health devices. As per the American Veterinary Medical Association, a non-profit organization located in the US, the data from October 2022 indicates a surge in outlays on both dogs and cats from 2020 to 2022. The annual expenditure on vet visits for houses with a single dog has climbed to $362 in 2022, increasing from $224 in the last two years. Therefore, these escalating pet healthcare expenditures are fueling the expansion of the pet diabetes care device market.
What Key Areas Define The Segmentation Of The Global Pet Diabetes Care Devices Market?
The pet diabetes care devices market covered in this report is segmented –
1) By Animal Type: Dogs, Cats, Horses
2) By Device: Glucose Monitoring Devices, Insulin Delivery Devices
3) By End Users: Homecare, Veterinary Hospitals, Others End Users
Subsegments:
1) By Dogs: Insulin Delivery Devices, Glucose Monitoring Devices, Blood Glucose Test Strips, Continuous Glucose Monitors
2) By Cats: Insulin Delivery Devices, Glucose Monitoring Devices, Blood Glucose Test Strips, Continuous Glucose Monitors
3) By Horses: Insulin Delivery Devices, Glucose Monitoring Devices, Blood Glucose Test Strips, Continuous Glucose Monitors
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How Are Emerging Trends Reshaping The Dynamics Of The Pet Diabetes Care Devices Market?
The rise in technological trends is a major focus in the pet diabetes care device market, with leading companies creating innovative solutions to solidify their market presence. To illustrate, Zoetis Inc., an American veterinary pharmaceutical firm, unveiled the AlphaTrak 3 blood glucose monitoring system specifically for dogs and cats in February 2023 in the US. A distinguishing feature of the AlphaTrak 3 system is its new mobile application, which enables pet owners and veterinary healthcare providers to collect, store, and disseminate data. The mobile app that accompanies the AlphaTrak 3 Blood glucose monitoring system simplifies data transfer and interaction through smartphones, allowing up-to-date exchange of vitals like glucose levels and other crucial data with veterinary clinics. This real-time access improves confidence levels in the care of diabetic pets among veterinarians and pet owners. The AlphaTrak 3 blood glucose monitor offers precise readings in a mere five seconds, an improvement over the previous AlphaTrak 2 system. Requiring only 0.3 microliters of blood, it provides blood sugar dynamics ranging from 20 to 750 milligrams per deciliter. The enhanced AlphaTrak 3 mobile app captures greater data from pet owners, including feeding timings, drinking habits, activities, and insulin administration schedules, surpassing previous systems.
Who Are the Key Players In The Pet Diabetes Care Devices Market?
Major companies operating in the pet diabetes care devices market include:
• Allison Medical Inc.
• Zoetis Inc.
• Becton Dickinson and Company
• Boehringer Ingelheim Vetmedica Inc.
• Henry Schein Animal Health
• Apotex Inc.
• Merck Co. Inc.
• Trividia Health Inc.
• UltiMed Inc.
• ACON Laboratories Inc.
• i-SENS Inc.
• TaiDoc Technology Corporation
• Abbott Laboratories
• Novo Nordisk AS
• Covetrus AG
• Eli Lilly and Company
• Bayer AG
• Terumo Corporation
• AccuBioTech Co. Ltd.
• ALR Technologies Inc.
What Is The Most Dominant Region In The Pet Diabetes Care Devices Market?
North America was the largest region in the pet diabetes care devices market in 2024. The regions covered in the pet diabetes care devices market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
