Veterinary Endocrinology Market To Reach $480.28 Million By 2030

Veterinary Endocrinology Market Growth & Trends

The global veterinary endocrinology market size is expected to reach USD 480.28 million by 2030, registering a CAGR of 6.8% from 2024 to 2030, according to a new report by Grand View Research, Inc. Some key drivers fueling the market growth include increasing uptake of pet insurance, humanization of pets, improving diagnostic rates, and initiatives by key market players. In 2022, Dechra launched Zycortal- its desoxycorticosterone pivalate suspension for Addison’s disease management for dogs in Brazil. This expanded its product portfolio.

Certain dog breeds exhibit a predisposition to various endocrine disorders, which significantly drives demand for veterinary endocrinology services and products. As per Embrace Pet Insurance for instance, some of the breeds that may be predisposed to hypothyroidism include Golden Retriever, Great Dane, Boxer, Cocker Spaniel, English Bulldog, and Doberman Pinscher. This predisposition stems from a combination of genetic factors and breed-specific physiological traits, making these breeds more susceptible to endocrine imbalances. Consequently, pet owners of these breeds are more vigilant about monitoring their pets' health and seek specialized veterinary care, including regular screenings, diagnostic tests, and tailored treatment plans, thereby fueling the demand for veterinary endocrinology services and products.

Another significant market driver is the growing awareness and emphasis on pet health and wellness among owners. With pets increasingly regarded as family members, owners are more willing to invest in comprehensive veterinary care to ensure the well-being of their animals. This includes regular health check-ups, preventive measures, and prompt treatment of any health issues, including endocrine disorders. The heightened awareness among pet owners leads to greater demand for specialized veterinary services, diagnostic tools, and therapeutic options tailored to manage endocrine conditions effectively. As disposable incomes rise and pet owners prioritize their pets' health and well-being, there is a corresponding increase in veterinary healthcare expenditure. This is also expected to propel the market growth.

Technological advancements and innovations in veterinary diagnostics, therapeutics, and treatment modalities have enhanced the capabilities of veterinary professionals in diagnosing and managing endocrine disorders in animals. Improved diagnostic tools, such as advanced imaging techniques and genetic testing, enable more accurate diagnosis, while innovative treatment options offer better outcomes for pets with endocrine conditions.

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Veterinary Endocrinology Market Report Highlights

• By animal type, the dogs segment dominated the market with a share of 61.2% in 2023. Other animals segment comprising horses is expected to grow at the fastest growth rate during the forecast period.

• The pancreatic disorders segment held the largest share of the market by application in 2023.  The other disorders segment on the other hand is poised to grow the fastest CAGR from 2024 to 2030.

• By route of administration, oral segment dominated the market in 2023. Other routes segment comprising injectables is anticipated to grow at the fastest CAGR during the forecast period.

• The North American market attributed to the largest share of 40.3% of the total market by region in 2023. The market in Asia Pacific is anticipated to grow at the fastest CAGR from 2024 to 2030.

Veterinary Endocrinology Market Segmentation

Grand View Research has segmented the global veterinary endocrinology market based on animal type, application, route of administration, and region:

Veterinary Endocrinology Animal Type Outlook (Revenue, USD Million, 2018 - 2030)

• Dogs

• Cats

• Other Animals

Veterinary Endocrinology Application Outlook (Revenue, USD Million, 2018 - 2030)

• Pancreatic Disorders

• Other Disorders

Veterinary Endocrinology Route of Administration Outlook (Revenue, USD Million, 2018 - 2030)

• Oral

• Other Routes

Veterinary Endocrinology Regional Outlook (Revenue, USD Million, 2018 - 2030)

• North America

  • U.S.

  • Canada

  • Mexico

• Europe

  • UK

  • Germany

  • France

  • Italy

  • Spain

  • Denmark

  • Sweden

  • Norway

• Asia Pacific

  • Japan

  • India

  • China

  • South Korea

  • Australia

  • Thailand

• Latin America

  • Brazil

  • Argentina

• Middle East and Africa (MEA)

  • South Africa

  • Saudi Arabia

  • UAE

  • Kuwait

List of Key Players in the Veterinary Endocrinology Market

• Dechra Pharmaceuticals PLC

• Elanco

• Merck & Co., Inc.

• Boehringer Ingelheim

• Zoetis

• LLOYD, Inc.