Market Size of Global Pet Diabetes Care Industry
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 2.12 Billion |
| Market Size (2029) | USD 2.88 Billion |
| CAGR (2024 - 2029) | 6.22 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | North America |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Pet Diabetes Care Market Analysis
The Global Pet Diabetes Care Market size is estimated at USD 2.12 billion in 2024, and is expected to reach USD 2.88 billion by 2029, growing at a CAGR of 6.22% during the forecast period (2024-2029).
COVID-19 had affected the pet diabetes market significantly. The COVID-19 pandemic imposed hurdles and concerns in the global pet animal health sector, including decreased marketing and sales efforts, reduced people visiting veterinary clinics, cancellation of regular pet check-ups, and fewer instances of insulin administration in veterinary facilities. As per the article published in 2021 under the title 'Diabetes among dogs increased by 10-20% during pandemic: Vets', cases of diabetes in dogs have increased 10-20% during COVID-19. Due to the increased lockdown and restrictions, there was a lack of routine checkups which lead to more cases of diabetes in dogs. Hence COVID-19 had a notable impact in the pet diabetic care market.
The major factors for the growth of the market include the rising prevalence of diabetes in pet animals, an increase in pet adoption, and the growing pet population. For instance, as per the American Pet Products Association's 2021-2022 National Pet Owners Survey, 69 million United States Household has a dog as a pet and 45.3 million households has a cat as a pet. The past few years have observed a significant rise in the adoption of animals, including dogs and cats as the favorite companions of human beings. Dogs and cats are not only the most preferred pets but are also known to improve the physical and mental health of humans. The developed countries have the leading position in companion animal ownership, owing to several factors, like favorable economic conditions, among others.
Furthermore, according to the American Pet Products Association's 2021-2022 National Pet Owners Survey, the basic annual expenses for Dogs and Cats for surgical vets are USD 458 and USD 201 respectively. Thus, the rise in adoption of pet animals is expected to increase the spending on health care needs of these animals which would in turn expected to boost the growth of the market over the forecast period.
Therefore, the market studied has a remarkable size, supported by the high population of pet animals, particularly cats and dogs. Hence, the increase in pet adoption has helped in driving the pet diabetes market over the forecast period. However, the high cost of diabetic medication and side effects relating to medicines and insulin restrain the market growth.
