Canine Weight Loss Drugs: Market Insights
With the millions of Americans being overweight, a large number of canine companions comprising about 20% to 30% of dogs are overweight in the United States. Two main reasons for dogs being overweight are too little exercise and over eating. As per the Veterinary Medical Association, obesity is considered as the fourth leading cause for death among canines. Dogs that falls under category of overweight or obese are prone to various diseases including heart disease, skin and coat problems, arthritis, trouble breathing, and difficulty in controlling their body temperature. However, other factors such as slow metabolism, neutering, and hormonal disorders including hypothyroidism and Cushing’s disease can cause weight gain in dogs. In response to this predominant problem of obesity in dogs, recently various companies are focused on developing the FDA approved drugs to treat conditions such as obesity in dogs. For instance, Slentrol, the first FDA approved diet drug has been recently developed by Pfizer Animal Health for canine obesity. This diet drug suppresses the dog’s appetite and blocks fat absorption in their bodies. This drug is administered orally directly into dog’s mouth or food. On an average, dogs are expected to lose 3% of their weight every month. However, these weight loss drugs have side effects that includes intermittent vomiting or diarrhea. These pharmaceutical drugs inhibit the transfer of dietary fats from dog’s intestinal cells into the blood stream. The accumulation of these dietary fat in the intestinal cells is supposed to increase release of intestinal hormones that induces signal of fullness in the dog’s brain, reducing his appetite. Canine weight loss drugs are capable of extreme performance and allow significant weight loss in dogs when coupled with proper food diet, thus contribute majorly to the revenue generation in canine weight loss drugs market. Therapeutic diets vary extensively in its ingredients, fiber concentrations and nutritional profiles, so significant therapeutic diet options are available for a comprehensive range of dog patients.
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These canine weight loss drugs are broadly used to treat obese conditions in dogs that experience greater demand and are only available via veterinarians or a veterinary prescription, thus generating large revenues in the canine weight loss drugs market. Canine weight loss drugs market on the basis of drug type is classified into o Slentrol (Dirlotapide), Orlistat (Xenical), Lorcaserin (Belviq), Naltrexone HCl and bupropion (Contrave), Liraglutide (Saxenda), Phentermine and Phentermine and Topiramate (Qsymia). However, the main distribution channel for canine weight loss drugs include hospital pharmacies, retail pharmacies, drug stores, e-commerce and others. On the other hand, canine weight loss drugs market is gaining profit due to rising incidence of chronic heart diseases in obese dogs across the globe. As per a clinical survey conducted by Association for Pet Obesity Prevention in 2017, 56% of dogs and approximately 60% of cats were classified as clinically overweight or obese in United States by the veterinary healthcare professionals. The growing incidence of obesity in dogs tend to propel the growth of canine weight loss drugs market across the globe.
Canine weight loss drugs consist of various drugs used for treatment of obesity or overweight conditions in dogs and registers a significant revenue growth in the canine weight loss drugs market. The growing adoption of pet weight loss drugs by the veterinarians is further anticipated to drive the demand for canine weight loss drugs and thereby increasing revenue generation in canine weight loss drugs market.
Canine Weight Loss Drugs: Market Dynamics
Growing awareness regarding canine weight loss drugs among veterinarians, availability of cost effective canine weight loss drugs in the market, and high prevalence of obesity in dogs across the globe is expected to be the key factor driving growth of canine weight loss drugs market. Some of the devastating consequences of obesity including trouble breathing, greater risk for heat stroke, diabetes, orthopedic concerns, reduction in life span and others are responsible for increased need to reduce weight in dogs. Thus, the demand for canine weight loss has registered an upsurge, thereby generating more revenues in canine weight loss drugs market. Also, developed veterinary care infrastructure and rising veterinary care spending are some other factors propelling the growth of canine weight loss drugs market. Also, rise in FDA approvals for canine weight loss drugs and increasing opportunity to help pets manage their weight is further expected to drive the growth of canine weight loss drugs market. However, side effects such as vomiting, diarrhea, and lethargy, and non-recommendation of these drugs for dogs with liver disease, or receiving corticosteroids, and pregnant or nursing dogs are some of the factors restraining the canine weight loss drugs market growth.
Canine Weight Loss Drugs Market: Segmentation
The global canine weight loss drugs market is segmented by drug type and distribution channel:
- Segmentation by Drug Type
- Slentrol (Dirlotapide)
- Orlistat (Xenical)
- Lorcaserin (Belviq)
- Naltrexone HCl and bupropion (Contrave)
- Liraglutide (Saxenda)
- Phentermine and Topiramate (Qsymia)
- Segmentation by Distribution Channel
- Hospital Pharmacies
- Retail Pharmacies
- Drug Stores
Canine Weight Loss Drugs Market: Overview
Based on drug type, Slentrol (Dirlotapide) registers the highest demand in the canine weight loss drugs market owing to the less side effects registered with usage of this drug as compared to others. Canine weight loss drugs found major usage in management of obesity related disease conditions progressing in chronic phase. Rising prevalence of obesity in dogs due to changing lifestyle of pet owners is one of the major factor driving the demand of canine weight loss drugs for early weight loss management in dogs, thereby fueling the canine weight loss drugs market over the globe. However, the growing footprint of weight loss drug manufacturers for veterinary applications coupled with rising demand for these drugs is further expected to drive the revenue generation in global canine weight loss drugs market.
Canine Weight Loss Drugs Market: Region-wise Outlook
On the basis of geography, global canine weight loss drugs market is segmented into seven key regions viz. North America, Latin America, Western Europe, Eastern Europe, Asia Pacific excluding Japan, Japan, and Middle East & Africa. North America is projected to hold largest shares in the global canine weight loss drugs market primarily due to growing prevalence of obesity in dogs in the U.S., enhanced veterinary care infrastructure and increased R&D expenditure for veterinary care. North America is followed by Western Europe which is the second dominating region in global canine weight loss drugs market worldwide followed by Japan.
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Canine Weight Loss Drugs Market: Key Players
Some of the key players present in global canine weight loss drugs market are Pfizer Animal Health, GlaxoSmithKline plc., Arena Pharmaceuticals, Inc., Takeda Pharmaceuticals U.S.A., Novo Nordisk A/S, Cigna and others.