Veterinary endocrinology is the branch of veterinary medicine that focuses on the study, diagnosis, and treatment of hormone-related issues in animals. Understanding the endocrine system—which includes the pituitary, thyroid, adrenal glands, and pancreas—is the main goal of this field. Hormones produced by these glands regulate growth, metabolism, reproduction, and stress responses, among other bodily functions. Diabetes mellitus, Cushing's disease, Addison's disease, hypothyroidism, and hyperthyroidism are among the disorders that veterinary endocrinologists diagnose in animals.
Global Veterinary Endocrinology Market Driving Factors and Challenges
Driving Factors- The primary drivers of the market's growth are the increasing rate of medicalization, the prevalence of diseases, the acceptance of pet insurance, the humanization of pets, and research and development as well as other strategic initiatives by large firms. According to Boehringer Ingelheim, Senvelgo, the first liquid oral drug for glycemic control in cats with diabetes mellitus, received FDA approval in August 2023. This led to an expansion of the company's portfolio. The expanding R&D efforts of leading companies that focus on significant endocrine disorders in animals are another driver driving the market. This expansion is being driven by the development of new diagnostic and treatment methods by large companies such as Dechra and Boehringer Ingelheim. One of the main factors driving the market's growth is the rising prevalence of endocrine disorders in pets, such as diabetes, Cushing's disease, Addison's disease, and thyroid problems.
Challenges- Several factors influence the expansion and growth of the global veterinary endocrinology market. Pet owners' ignorance about endocrine illnesses is a major problem that often leads to delayed diagnosis and treatment. The specialized knowledge and training required for this field also contribute to the lack of trained veterinary endocrinology specialists, particularly in underserved areas. Prescription medications, treatments, and diagnostics for hormone-related diseases can be expensive, especially in low-income areas, which may make them inaccessible to pet owners.
Impact of COVID-19 on Global Veterinary Endocrinology Market
The COVID-19 pandemic has had a major direct and indirect effect on the worldwide veterinary endocrinology market. During the epidemic, lockdowns, social distancing measures, and a decline in non-emergency procedures caused disruptions in many hospitals and veterinary clinics. A decline in veterinary consultations, particularly for endocrine-related problems, led to delays in the diagnosis and treatment of hormone-related diseases in animals. The pandemic delayed the production and delivery of veterinary medications, diagnostic tools, and supplies, which resulted in shortages and increased costs on the supply side. The availability of essential drugs for the treatment of conditions like diabetes and thyroid problems in animals was also impacted by disruptions to the global supply chain.
Global Veterinary Endocrinology Market Key Players:
The market study provides market data by competitive landscape, revenue analysis, market segments and detailed analysis of key market players such as: Dechra Pharmaceuticals PLC; Boehringer Ingelheim; Elanco; Merck & Co., Inc.; Zoetis; LLOYD, Inc.
Global Veterinary Endocrinology Market Segmentation:
By Animal Type: Based on the Animal Type, Global Veterinary Endocrinology Market is segmented as; Dogs, Cats, Other Animals.
By Application: Based on the Application, Global Veterinary Endocrinology Market is segmented as; Pancreatic, Disorders, Other Disorders.
By Route of Administration: Based on the Route of Administration, Global Veterinary Endocrinology Market is segmented as; Pancreatic Oral, Other Routes Disorders, Other Disorders
By Region: This research also include data for North America, Europe, Asia-Pacific Middle East & Africa and South America.
This study also encompasses various drivers and restraining factors of this market for the forecast period. Various growth opportunities are also discussed in the report.