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The animal sedative market size is forecast to increase by USD 169.2 million and is estimated to grow at a CAGR of 5.25% between 2023 and 2028. The animal sedative market is experiencing significant growth, driven by several key factors. The increasing prevalence of animal diseases and the subsequent need for veterinary interventions necessitate the use of sedatives for effective treatment. Moreover, the rising adoption of pet animals as companions has led to an increased demand for animal health products, including sedatives. Strict government regulations ensure the safety and efficacy of these products, adding to their market value. In addition, advancements in technology and research have led to the development of innovative sedatives with improved efficacy and fewer side effects, further fueling market growth. Overall, the animal sedative market is poised for robust expansion in the coming years, driven by these key trends and challenges.
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The Market is driven by the increasing pet ownership, rising animal health expenditure, and the need for veterinary treatments and surgeries. Chronic diseases, surgical procedures, and zoonotic diseases are significant factors fueling the demand for animal sedatives. Veterinary services and veterinary medications are crucial components of the animal healthcare industry, with pet surgeries and veterinary dental procedures being common procedures that require sedation. The market for animal sedatives is expected to grow due to the increasing adoption of pets, especially in developed regions. The need for skilled personnel to administer sedatives and perform medical procedures safely and effectively is also a key factor. Animal diseases, such as cancer, require advanced veterinary treatments and pharmacological interventions, further increasing the demand for animal sedatives. Pharmacokinetics and pharmacodynamics play a significant role in the development of animal sedatives. Central nervous system disorders and animal disorders are some of the conditions that require sedation for diagnosis and treatment. Pet insurance and veterinary treatment are also driving factors, as they increase the accessibility of veterinary care for pet owners. Overall, the animal sedative market is expected to continue growing, providing opportunities for market participants to innovate and develop new products and services.
Increasing prevalence of animal diseases is notably driving market growth. Animal healthcare is a critical aspect of ensuring the well-being of both companion and production animals. The prevalence of various animal diseases, including zoonotic diseases such as brucellosis and food-borne diseases, parasitic infections, and cancer, poses significant challenges to animal health.
Moreover, in tropical and subtropical regions, parasitic diseases are a major concern for the livestock industry, leading to substantial economic losses due to decreased output, poor reproduction, and mortality. Bacterial parasites primarily affect farm animals, resulting in financial and health consequences for humans. Companion animals also face various health issues, including allergies, travel anxiety, and medical procedures such as surgery and pain management. Animal diagnostics play a crucial role in identifying and treating diseases in animals. Thus, such factors are driving the growth of the market during the forecast period.
Increasing adoption of pet animals is the key trend in the market. The growth in pet adoption and ownership has significantly expanded opportunities for animal healthcare services. According to recent statistics, dogs were owned by 45% of households in 2020, while cats were owned by 43%. Notably, 42% of dog owners and 43% of cat owners obtained their pets from pet stores.
However, an increasing number of stores are sourcing animals from shelters and rescue organizations. The COVID-19 pandemic has also had a minimal impact on these trends, with remote work leading to an eight-fold increase in pet acquisitions in 2020. Animal healthcare encompasses the diagnosis and treatment of various diseases in small and large animals. Thus, such trends will shape the growth of the market during the forecast period.
Stringent government regulations is the major challenge that affects the growth of the market. Animal healthcare is a crucial aspect of pet ownership and animal welfare, encompassing the prevention and treatment of diseases in cats, dogs, and other small and large animals. The market for animal sedatives is a significant segment of animal healthcare, with various types of sedatives, such as phenothiazines, benzodiazepines, and butyrophenones, used for medical procedures, pain management, and disease prevention in pets and livestock.
Moreover, these sedatives can be administered parenterally or orally and are available through hospital pharmacies and retail pharmacies. Animal diseases, including cancer and allergies, require diagnostic procedures and clinical research studies to develop effective veterinary drugs. Hence, the above factors will impede the growth of the market during the forecast period
The market forecasting report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.
Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Bayer AG: The company offers animal sedative such as Rompun.
The market research and growth report also includes detailed analyses of the competitive landscape of the market and information about key companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The parental segment is estimated to witness significant growth during the forecast period. The Market encompasses a range of veterinary drugs used for managing various animal disorders, including anxiety during travel, allergies, and pain management during medical procedures and surgery.
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The parental segment was the largest segment and was valued at USD 398.40 million in 2018. These sedatives are essential in pet adoption and animal healthcare, ensuring the well-being of cats, small animals, and large animals during diagnostic procedures, clinical research studies, and disease prevention. Phenothiazines, Benzodiazepines, Butyrophenones, and other sedatives like Acepromazine, Phenobarbital, Gabapentin, Xylazine, and Lidocaine are commonly used in animal healthcare. Hence, such factors are fuelling the growth of this segment during the forecast period.
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North America is estimated to contribute 41% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. The animal sedative market is driven by rising pet ownership, increasing prevalence of chronic diseases and the need for veterinary care during surgical procedures. Animal health expenditure continues to grow as pet owners prioritize their pets' wellbeing, leading to an increase in demand for veterinary services and pet surgeries. Veterinary medications, including sedatives, play a crucial role in managing animal stress and ensuring optimal veterinary treatment. Hence, such factors are driving the market in North America during the forecast period.
The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD million " for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.
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Animal sedatives are essential medications used in veterinary medicine to help animals remain calm and relaxed during various procedures, including diagnosis, treatments, and surgeries. The market for animal sedatives is driven by the increasing pet ownership rate, rising animal health expenditure, and the growing demand for veterinary services. Chronic diseases and surgical procedures in dogs and livestock require veterinary care and treatment, leading to a higher demand for sedatives. Veterinary hospitals, specialty centers, and practices use animal sedatives for veterinary treatments, orthopedic treatments, and parenteral and oral sedatives. Controlled substances are used under the supervision of skilled personnel to ensure animal welfare and minimize stress during procedures. The surgical segment, including veterinary hospitals and clinics and Animal research, is a significant contributor to the animal sedative market's growth. Hospitals and specialty centers use sedatives for various surgeries, such as pet surgeries and zoonotic disease treatments.
Moreover, veterinary associations and training programs conduct workshops to educate veterinarians on the use of sedatives and their application in veterinary medicine. Product substitutes, such as natural remedies and herbal medicines, are gaining popularity in the market. However, the effectiveness and safety of these alternatives are still under investigation. The Central Nervous System (CNS) is a common target for sedative products, and the market for these medications is expected to grow significantly in the coming years. Animal welfare is a significant concern in the veterinary industry, and the use of sedatives is essential to minimize stress and ensure the safety and comfort of animals during veterinary treatments and surgeries. The veterinary medicine industry continues to invest in research and development to create new sedative products and improve existing ones to meet the growing demand for animal health and welfare.
Market Scope |
|
Report Coverage |
Details |
Page number |
135 |
Base year |
2023 |
Historic period |
2018-2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 5.25% |
Market growth 2024-2028 |
USD 169.2 million |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
4.86 |
Regional analysis |
North America, Europe, Asia, and Rest of World (ROW) |
Performing market contribution |
North America at 41% |
Key countries |
US, Germany, UK, Canada, and China |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Akorn Operating Co. LLC, AmerisourceBergen Corp, Bayer AG, Bimeda Holdings Ltd., Boehringer Ingelheim International GmbH, Ceva Sante Animale, Chanelle Pharma Group, Dechra Pharmaceuticals Plc, Elanco Animal Health Inc., Jurox Pty Ltd., Konig SA, Laboratorios Richmond, Merck KGaA, Modern Veterinary Therapeutics LLC, Orion Corp., Ouro Fino Saude Animal Group, Randlab Pty Ltd., Troy Laboratories Pty Ltd., Virbac Group, and Zoetis Inc. |
Market dynamics |
Parent market analysis, market report , market forecast , Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Type
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Opportunity/Restraints
10 Competitive Landscape
11 Competitive Analysis
12 Appendix
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