PUBLISHER: The Business Research Company | PRODUCT CODE: 1526859
PUBLISHER: The Business Research Company | PRODUCT CODE: 1526859
Veterinary renal disease encompasses a range of conditions that affect the kidneys of animals, resulting in impaired kidney function. This disruption affects the kidneys' ability to filter waste, balance fluids, and produce certain hormones, leading to various health issues.
The main types of veterinary renal disease involve diagnosis and treatment. Diagnosis involves reaching a conclusion through medical evaluation, identifying specific conditions or diseases affecting an individual animal's health. The types of animals affected include canine, feline, bovine, equine, and others, with indications such as renal failure, chronic kidney disease (CKD), renal cystitis, kidney stones, nephritis, among others. Treatment can be administered via injectable or oral routes and products are distributed through pharmacies, pet specialty stores, e-commerce platforms, and other channels.
The veterinary renal disease market research report is one of a series of new reports from The Business Research Company that provides veterinary renal disease market statistics, including veterinary renal disease industry global market size, regional shares, competitors with a veterinary renal disease market share, detailed veterinary renal disease market segments, market trends and opportunities, and any further data you may need to thrive in the veterinary renal disease industry. This veterinary renal disease market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The veterinary renal disease market size has grown strongly in recent years. It will grow from $14.55 billion in 2023 to $15.33 billion in 2024 at a compound annual growth rate (CAGR) of 6.8%. The growth in the historic period can be attributed to growing disease awareness initiatives, a shift in consumer preferences towards natural and organic pet food, increasing pet ownership rates globally, regulatory changes in veterinary pharmaceuticals, and growing awareness about pet health and nutrition.
The veterinary renal disease market size is expected to see strong growth in the next few years. It will grow to $20.36 billion in 2028 at a compound annual growth rate (CAGR) of 7%. The growth in the forecast period can be attributed to the emergence of personalized veterinary medicine, the expansion of telemedicine and remote monitoring in veterinary care, the rise in veterinary clinical trials and research, the adoption of blockchain technology for supply chain transparency in veterinary products, and the integration of artificial intelligence and machine learning in veterinary diagnostics. Major trends in the forecast period include increasing demand for veterinary teleconsultations, the surge in customized pet nutrition plans, the growth of wearable health monitoring devices for pets, the expansion of veterinary telemedicine platforms, and the adoption of precision medicine in veterinary oncology.
Increased pet ownership is expected to drive growth in the veterinary renal disease market. This market focuses on conditions affecting animals' kidneys, leading to impaired kidney function and symptoms such as increased thirst, frequent urination, and weight loss. The rise in veterinary renal disease is attributed to longer pet lifespans, exposure to environmental toxins, dietary factors, and genetic predispositions. Treatments for veterinary renal disease typically involve dietary management, medication, and fluid therapy to manage symptoms and improve quality of life. For example, Cooper Pet Care reported that the European Union, including Norway and Switzerland, is expected to have around 145 million pets by October 2022, up from approximately 140 million in 2021, with about 66 million dogs and 79 million cats. Therefore, the growth of pet ownership is fueling the veterinary renal disease market.
Key players in this market are focused on advancing treatment and diagnosis technologies, such as novel diagnostic tests capable of detecting kidney injury even before clinical signs appear. These tests aim to identify subtle changes in renal function or structure, enabling early intervention to prevent advanced renal dysfunction. For instance, in June 2023, IDEXX Laboratories Inc. introduced the IDEXX Cystatin B Test, the first veterinary diagnostic test for detecting kidney injury in cats and dogs. This test helps veterinarians identify kidney injury early, leading to improved patient outcomes. It will be integrated into test panels assessing renal health during an estimated two million patient visits annually.
In July 2022, Dechra Pharmaceuticals plc acquired Piedmont Animal Health LLC for $210 million, enhancing its product development capabilities and offering innovative solutions for veterinarians and pet owners in areas of unmet medical needs, including veterinary renal disease. Piedmont Animal Health LLC is known for providing medicines for this specific condition.
Major companies operating in the veterinary renal disease market are Bayer HealthCare Animal Health Inc., Nestle Purina PetCare Company, Zoetis Inc., Boehringer Ingelheim , Covetrus Inc., Elanco Animal Health Incorporated, Hill's Pet Nutrition Inc. , IDEXX Laboratories Inc., Ceva Sante Animale S.A., Dechra Pharmaceuticals PLC, Neogen Corporation, Vetoquinol S.A., Norbrook Laboratories Limited, Nutramax Laboratories Veterinary Sciences Inc., Animalcare Group plc, Antech Diagnostics Inc., Kindred Biosciences Inc., Vedco Inc., MSD Animal Health, Clinical Renal Associates, Veterinary Transplant Services Inc., Kibow Biotech Inc., Northwest Renal Clinic
North America was the largest region in the veterinary renal disease market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the veterinary renal disease market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The countries covered in the veterinary renal disease market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain
The veterinary renal disease market consists of revenues earned by entities by providing services such as laboratory testing, imaging services, and fluid therapy. The market value includes the value of related goods sold by the service provider or included within the service offering. The veterinary renal disease market also includes sales of angiotensin receptor blockers, phosphate binders, omega-3 fatty acids, and antioxidants. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Veterinary Renal Disease Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on veterinary renal disease market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for veterinary renal disease ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The veterinary renal disease market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of COVID-19 on supply chains and consumption patterns.