According to the recent research report titled ‘Global Companion Animal Arthritis Market Size study, by Animal Type (Dogs, Cats, Others), by Animal Type (Dogs, Cats, Others) by Indication (Osteoarthritis, Other Arthritis) by Treatment (Medication, Supplements, Other Treatment) by Distribution Channel (Veterinary Hospitals & Clinics, Retail Pharmacies, Online Stores, Others) and Regional Forecasts 2022-2028’ available with MarketStudyReport, global companion animal arthritis market value was USD 2.9 billion in 2021 and is projected to amass USD 4.60 billion by the end of 2028, progressing at a CAGR of 6.8% during the analysis period.

Global companion animal arthritis market is driven by significant factors such as the growing number of companion animals, surging incidences of arthritis, increasing risk factors for the disease, and substantial government funding for awareness campaigns along with the strategies used by well-known companies.

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For those unaware, dogs and cats frequently get the disease osteoarthritis (OA) which is categorized as a low-grade inflammatory, degenerative joint ailment.

Further, increasing adoption of pet insurance, increased expenditure on veterinary care, soaring R&D investments by top-notch companies, the return to normalcy following the pandemic, and the expansion of prescription goods are some of the factors propelling the market expansion.

However, lack of awareness has hindered market growth throughout the forecast period of 2022-2028.

Worldwide companion animal arthritis market is segmented into animal type, indication system, treatment type, and distribution channel. By animal type, the market is split into cats, dogs, and others. Further based on the indication system this marketplace is divided into osteoarthritis and other arthritis.

In terms of treatment type the industry vertical is segregated into supplements, medications, and other treatments. Based on distribution channel, the market is bifurcated into retail pharmacies, online stores, and veterinary hospitals & clinics.

Speaking of the regional landscape, the business space spans across countries of regions like North America, Europe, Latin America, Asia Pacific, and the rest of the world.

Among these, North America market is poised to register a healthy CAGR during the analysis period, due to rising treatment availability, adoption of initiative taken by major companies, rising diagnostic rates, and expanding pet population & consumer spending.

On the other hand, Asia Pacific market is expected to amass sustainable returns through the analysis period, due to rising animal healthcare expenditure, increased illness awareness in emerging nations, and disposable income in emerging economies.

The companies formulating competitive landscape under global companion animal arthritis marketplace are Eltech K-Laser s.r.l., NexGen Pharmaceuticals, Norbrook Laboratories Ltd., Vetoquinol, Dechra Pharmaceuticals Plc., Ceva, Boehringer Ingelheim International GmbH, Elanco Animal Health Incorporated, Virbac, and Zoetis Inc.