Canines suffer various health issues, including inflammation in joints. The increasing incidence of arthritis is a key health concern for pet lovers around the world, and has shaped the contours of the canine arthritis treatment market. Over the years, accidental injuries, and obesity have contributed to the prevalence of arthritis. Further, dogs suffer from lack of proper bone development, thereby spurring the demand in the canine arthritis treatment market.
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Over the years, the lifespan of domesticated dogs and cats has increased. This is because pet owners are getting more aware of the various preventive and curative options available for keeping pets in good health. Further, rise in numbers of veterinarians with high expertise has also boosted the prospects of the canine arthritis treatment market.
Demand for efficacious drugs and therapies boosting market
Over the years, the animal healthcare has seen rising cases of behavioral anxieties, especially in dogs and cats. This might be due to a hectic lifestyle. Growing research on novel ingredients has paved the way to efficacious drugs and therapies. Pet lovers, especially in developed economies is such as Europe and Asia Pacific, are showing more acceptance of their role more than ever in proper upkeep of their pets’ health.
Presence of several players of all sizes keep the canine arthritis treatment market increasingly fragmented. The market is witnessing high level of competition. Top players are leaning in strategic mergers and acquisitions to develop novel ingredients for drugs for alleviating the conditions of arthritis in canines. Growing number of therapies that show promise in arthritis is boosting the prospects of players in the market.
Some of the key participants are shifting their attention to highly lucrative markets such as North America to Asia Pacific. These exist vast latent opportunities the latter region. Growing focus on health of pets is boosting the market.
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