Carprofen Market Size, Share, Growth, and Industry Analysis, By Type (Ibuprofen, Naproxen, Ketoprofen), By Application (Dog, Cat, Horse, Others), Regional Insights and Forecast to 2031

Updated On: 20 November 2023

CARPROFEN MARKET REPORT OVERVIEW

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The global carprofen market size expanded rapidly in 2022 and the market is projected to grow substantially by 2029, exhibiting a prodigious CAGR during the forecast period.

The need for improved pet care and an increase in surgical operations due to illness prevalence are driving the adoption of pain relief medications in both developed and emerging nations and is boosting carprofen market growth. Due to the scarcity of analgesics, post-operative pain is a leading cause of mortality in numerous animals. Companies therefore concentrate on creating analgesics that can relieve post-operative pain because opioid use is closely regulated. Abdominal, neuropathic, and cancer-related pain are among the additional types of pain covered in this section. Because cancer and other illnesses are so common, this category is also anticipated to rise steadily over the projection period.

The profitable CAGR is partly attributable to rising funding and R&D expenditures for the creation of cutting-edge treatment alternatives. Throughout the projection period, investments to improve diagnostic processes through the creation of next-generation technologies for companion animal diagnosis are also anticipated to be favorable for the segment's growth.

COVID-19 Impact: Attention on the Disease Treatment to Degrade Market Expansion

The global COVID-19 pandemic has been unprecedented and staggering, with the market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden market growth reflected by the rise in CAGR is attributable to market’s growth and demand returning to pre-pandemic levels.

The COVID-19 pandemic had a negative influence on the carprofen sector and the veterinary supply chain due to the ongoing regulations poised by the government. Moreover, as the main attention was on the treatment of the patients that were suffering from this specific respiratory disease. On the other hand, visits during December 2020, the first month of 2021, as well as February 2021 showed negative growth.

LATEST TRENDS

"Incorporation of Alternative Therapies to Drive Market Growth"

Pet owners along with some veterinarians are turning more and more to complementary or alternative therapies including acupuncture, chiropractic care, medicinal products, and physical therapy in addition to or instead of traditional painkillers. This shift in preference can be attributed to a number of causes, including anecdotal evidence of the effectiveness of these unorthodox treatments, concerns about potential pharmacological side effects, and a desire for integrative and natural therapies. The adoption of non-traditional treatments implies a deeper knowledge of the benefits of managing pain for animals, which presents both opportunities and challenges for the veterinary pain management business.

CARPROFEN MARKET SEGMENTATION

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• By Type

Based on type the global market can be categorized into ibuprofen, naproxen, ketoprofen

Ibuprofen is a drug used to treat and control osteoarthritis, fever, dysmenorrhea, rheumatoid illnesses, and inflammatory conditions. A nonsteroidal anti-inflammatory medicine (NSAID) called naproxen is used to treat arthritic symptoms. One nonsteroidal anti-inflammatory drug in the propionic acid class that has analgesic and antipyretic properties is ketoprofen. It works by preventing prostaglandin formation in the body.

• By Application

Based on application the global market can be categorized into dog, cat, horse, others

Furthermore, more efficient and customized therapies are now possible thanks to developments in veterinary technology and medicine, which has raised requirement for veterinarians and the drugs used for the treatment of dogs, cat, and horse. In addition, a lot of vet clinics have added boarding, cleaning, and training to their list of services in order to offer pets more thorough care.

DRIVING FACTORS

"Utilization in Hospitals and Clinics to Produce Prime Possibilities"

The end-use sector was driven by hospitals and clinics in 2018 because these facilities offer a broad range of therapeutic and diagnostic choices. Furthermore, the need for outpatient facilities and the rise in surgical procedures are important development drivers. Research institutes, hospitals, and other animal care facilities are included in the others category. Due to the high-tech technologies these facilities employ, this market is anticipated to grow profitably over the projection period. Mobile technologies for pet owners and effective information management systems are a couple of these.

The profitable CAGR is partly attributable to rising funding and R&D expenditures for the creation of cutting-edge treatment alternatives. Throughout the projection period, investments to improve diagnostic processes through the creation of next-generation technologies for companion animal diagnosis are also anticipated to be favorable for the segment's growth.

"Rise in Pet Border Crossings to Expand the Market"

As more people acquire dogs and bring them home, there is a greater chance that pet will be subjected to additional sources of disease. Pets who travel, devote time outside, or interact with other animals are more susceptible to contract diseases. Because pets interact with a larger population of other living things and possibly infectious environmental components, urban areas can be conducive for the spread of certain diseases.

Pet border crossings have increased, which raises the possibility of illnesses spreading to neighboring regions. When going abroad, pets may inadvertently contribute to the unintentional spread of illnesses that were previously unreported in some areas. As a result, it is anticipated that the region's rising pet disease incidence will fuel market expansion.

RESTRAINING FACTORS

"Regulatory Guidelines to Undoubtedly Impede Market Growth"

To promote market growth, comprehensive and unambiguous regulatory standards regarding carprofen management have to be developed. There are several benefits for both industry players and animal health when these regulations offer a framework for the development, approval, and risk-free administration of drugs along with additional treatments for animal pain.

Strict standards are set by regulations for the potency, security, and caliber of drugs used to relieve pain in animals. This reassures doctors and pet owners that the treatments they offer are reliable and free of unfavorable side effects.

CARPROFEN MARKET REGIONAL INSIGHTS

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"North America Leading the Business due to Need for High-Quality Animal Care"

The need for high-quality animal care and the growing number of pet owners in North America contributed to the region's greatest carprofen market share. Furthermore, renowned and highly developed animal medical centers are contributing to the expansion. In North America, veterinary prescriptions are now required as of 2017, which is expected to increase prescription medicine sales during the projected year.

Regional demand is expected to increase as a result of growing player efforts to assure high standards and enhance their product portfolio.

KEY INDUSTRY PLAYERS

"Key Industry Players Shaping the Market through Innovation and Market Expansion"

Prominent market players are making collaborative efforts by partnering with other companies to stay ahead of the competition. Many companies are also investing in new product launches to expand their product portfolio. Mergers and acquisitions are also among the key strategies used by players to expand their product portfolios.

The analyst provides a comprehensive picture of the market through the study, synthesis, and summarization of data from various sources, as well as an examination of important variables such as financial gain, sales prices, competition, and promotions. It identifies the key industry influencers and presents various market facets. The information provided is thorough, reliable, and the result of extensive primary and secondary research. The market report provides a comprehensive competitive landscape as well as an in-depth vendor evaluation methodology and analysis based on both qualitative and quantitative studies to accurately forecast market growth.

List of Market Players Profiled

• Zoetis (U.S.)
• Chanelle Pharma (U.S.)
• AVENTIX (U.S.)
• KRKA UK Ltd (U.K.)
• Dechra (U.K.)
• Parnell (U.S.)
• VetUK (U.K.)
• Norbrook (U.K.)
• Alivira Animal Health (India)
• Vedco Inc (U.S.)
• ElancoDVM (U.S.)
• Vethical (U.S.)

INDUSTRIAL DEVELOPMENT

March 2023: Boehringer Ingelheim GmbH launched the LastMile project in Sub-Saharan Africa in collaboration with the Bill & Melinda Gates Foundation and the Global Coalition of Livestock Veterinary Medicines (GALVmed). The program aims to provide smallholder farmers who depend on livestock for both food and income with better access to veterinary care.

REPORT COVERAGE

The study encompasses a comprehensive SWOT analysis and provides insights into future developments within the market. It examines various factors that contribute to the growth of the market, exploring a wide range of market categories and potential applications that may impact its trajectory in the coming years. The analysis takes into account both current trends and historical turning points, providing a holistic understanding of the market's components and identifying potential areas for growth.

The research report delves into market segmentation, utilizing both qualitative and quantitative research methods to provide a thorough analysis. It also evaluates the impact of financial and strategic perspectives on the market. Furthermore, the report presents national and regional assessments, considering the dominant forces of supply and demand that influence market growth. The competitive landscape is meticulously detailed, including market shares of significant competitors. The report incorporates novel research methodologies and player strategies tailored for the anticipated timeframe. Overall, it offers valuable and comprehensive insights into the market dynamics in a formal and easily understandable manner.