Veterinary Care Market Size by 2032 | Market Segmentation by Type, Application, Regions, Important News, and Profiles of Leading Companies
Veterinary Care Market Forecast to 2032
The global veterinary care market size was USD 82.71 billion in 2022 and is expected to register a revenue CAGR of 5.4% during the forecast period, according to the latest analysis by Emergen Research. Various factors, including the rising pet population and public awareness of pet healthcare, are driving the revenue growth of the veterinary care market. Demand for veterinary services is rising as a result of pet owners’ increased propensity to seek medical attention for their furry friends. Furthermore, revenue growth in the veterinary care market is driven by developments in veterinary medicine and technology that have allowed pet owners to access a larger variety of treatments and services for their animals.
The market size, revenue growth, and CAGR from 2022 to 2032 are all addressed in the Veterinary Care Market Analysis. The research also gives significant insights into the top market players, including SWOT analysis, Porter’s Five Forces analysis, and feasibility analysis, to give readers a competitive edge. The study focuses on the current epidemic’s most recent trends, major challenges, opportunities, and limitations.
Pet ownership has increased along with the standard of living, particularly in emerging countries, and the necessity of veterinary care. In addition, revenue growth in the veterinary care market is driven by people’s understanding of the value of animal welfare and their increased emphasis on preventative treatment. The increasing prevalence of infectious animal diseases is another factor driving demand for veterinary diagnostics.
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The global Veterinary Care market report employs an extremely extensive and perceptive process that analyzes statistical data relating to services and products offered in the market. The research study is a pivotal document in understanding the needs and wants of the clients. The report is comprised of significant data about the leading companies and their marketing strategies. The Veterinary Care industry is witnessing an expansion and change of dynamics owing to the entry of several new players.
The study outlines the rapidly evolving and growing market segments along with valuable insights into each element of the industry. The industry has witnessed the entry of several new players, and the report aims to deliver insightful information about their transition and growth in the market. Mergers, acquisitions, partnerships, agreements, product launches, and joint ventures are all outlined in the report.
Merck Animal Health, Ceva Santé Animale, Zoetis, Boehringer Ingelheim GmbH, Elanco, IDEXX Laboratories, Inc., Heska Corporation, Virbac, and Vetoquinol S.A.
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Some Key Highlights from the Report
- The cow segment accounted for largest revenue share in 2021. Rising demand for dairy and meat products is one of the factors driving revenue growth of cow veterinary care. Increase in world’s population is driving need for veterinary care for cows to maintain their health and productivity. Development of veterinary technology is a major factor driving revenue of the segment. Introduction of new veterinary care technology, including vaccines, antibiotics, and diagnostic instruments, has increased cow productivity and health and driven farmers to invest in veterinary care.
- The companion animal segment accounted for largest revenue share in 2021. Rising ownership of pets is a key factor driving revenue growth of the segment. Need for veterinary care services for companion animals including dogs, cats, and others has increased as a result of rising pet ownership. Another factor driving revenue growth of the market is rise in public concern for animal health. The number of pet owners who are willing to spend money on veterinary care services for their animals has increased due to rising awareness about animal health. Furthermore, revenue growth of the segment is driven by improvements in veterinary technology.
- The market in North America accounted for largest revenue share in 2021. Rising demand for pet insurance and increasing public awareness of the significance of animal healthcare are some of the factors driving revenue growth of the market in the region. Consumers in the region are purchasing pet insurance, which pays for veterinarian procedures, as they become increasingly concerned about health and wellbeing of their pets. Demand for more specialized veterinary care, such as orthopedics, cancer, and dental care, is also driving revenue growth of the veterinary care market in North America. In addition, demand for veterinary services in the production animal sector, is driven by rising frequency of zoonotic diseases such the avian flu and mad cow disease.
The report bifurcates the Veterinary Care market on the basis of different product types, applications, end-user industries, and key regions of the world where the market has already established its presence. The report accurately offers insights into the supply-demand ratio and production and consumption volume of each segment.
Segments Covered in this report are:
- Type Outlook (Revenue, USD Billion; 2019-2032)
- Type of Care Outlook (Revenue, USD Billion; 2019-2032)
- Companion Animal
- Production Animal
- Regional Outlook (Revenue, USD Billion; 2019–2032)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of MEA
- North America
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The research report offers a comprehensive regional analysis of the market with regards to production and consumption patterns, import/export, market size and share in terms of volume and value, supply and demand dynamics, and presence of prominent players in each market.
Regional Analysis Covers:
- North America (U.S., Canada)
- Europe (U.K., Italy, Germany, France, Rest of EU)
- Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Rest of Latin America)
- Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
Furthermore, the report provides the analytical data in an organized format segmented into charts, tables, graphs, figures, and diagrams. This enables readers to understand the market scenario in an easy and beneficial manner. Moreover, the report aims to impart a prospective outlook and draw an informative conclusion to assist the reader in making lucrative business decisions. The report, in conclusion, provides a detailed analysis of the segments expected to dominate the market, the regional bifurcation, the estimated market size and share, and comprehensive SWOT analysis and Porter’s Five Forces Analysis.
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