The global veterinary care market size is expected to be worth around US$ 120.5 billion by 2030, according to a new report by Vision Research Reports.
The global veterinary care market size was valued at US$ 76.7 billion in 2020 and is anticipated to grow at a CAGR of 6.4% during forecast period 2021 to 2030.
|Market Size||USD 120.5 billion by 2030|
|Growth Rate||CAGR of 6.4% from 2021 to 2030|
|Forecast Period||2021 to 2030|
|Segments Covered||Animal Type, Type of Care|
|Regional Scope||North America, Europe, Asia Pacific, Latin America, Middle East & Africa|
|Companies Mentioned||Merck Animal Health; Ceva Santé Animale; Zoetis; Boehringer Ingelheim GmbH; Elanco; IDEXX Laboratories, Inc.; Heska Corporation; Virbac; Vetoquinol S.A.; Indian Immunologicals Ltd.|
Increasing cases of chronic diseases in pets and livestock animals are fueling the demand for better veterinary care. Many awareness programs are being conducted around the world regarding better veterinary care, thus propelling the demand. For example, each year, during the first week of October, Canadian Veterinary Medical Association organizes Animal Health Week, a national public awareness campaign. The introduction of initiatives, such as the One Health Initiative for the improvement of healthcare standards for animals, has widened growth prospects for the market.
By Animal Type Analysis
The companion animals segment accounted the largest revenue share of over 61.00% of the global market in 2020. This can be attributed to the growing initiatives by market players, rising pet population, and increasing pet expenditure.
The COVID-19 pandemic is encouraging pet owners, healthcare providers, and even payers to adopt telehealth in veterinary care. In October 2020, online pet pharmacy, Chewy Inc., brought telehealth to cats, dogs as pandemic disturbed vet visits. Among companion animals, dogs held the largest share in 2020.
By Type of Care Analysis
The primary care segment accounted the largest revenue share of over 59% among the companion animal segment. Primary care includes physical examinations, vaccinations, lab testing, parasite prevention, diagnostic testing, behavioral counseling, training, diet, dental health & cleaning among others.
An increase in the population of dogs and a rise in the number of deaths due to rabies are expected to result in a high number of vaccination programs, thereby driving the segment growth. Domestic dogs are among the most common reservoir of viruses.
The veterinary care services for production animals also held a major share in 2020. Policymakers in numerous nations are striving to attain total food security, which supplements large-scale food production and results in superior rearing of livestock.
By Regional Analysis
North America accounted the market with a revenue share of over 43% in 2020. The rising incidence of canine disorders is one of the key factors responsible for the largest market share of the region.
Asia Pacific is expected to show the fastest CAGR over the forecast period. Since most of the nations are dependent on agricultural production and exports, there is high availability of poultry animals, thus the market is expected to witness significant growth.
Merck Animal Health
Ceva Santé Animale
Boehringer Ingelheim GmbH
IDEXX Laboratories, Inc.
Indian Immunologicals Ltd.
Type Of Care
Middle East and Africa
The Veterinary Care market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.
The report provides size (in terms of volume and value) of Veterinary Care market for the base year 2020 and the forecast between 2021 and 2030. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.
This report focuses on the global Veterinary Care market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Veterinary Care market development in United States, Europe and China.
It is pertinent to consider that in a volatile global economy, we haven’t just conducted Veterinary Care market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.
In terms of production side, this report researches the Veterinary Care capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.
In terms of consumption side, this report focuses on the consumption of Veterinary Care by regions (countries) and application.
Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global Veterinary Care market. These figures have been provided in terms of both revenue and volume for the period 2017 to 2030. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.
With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major Veterinary Care market companies.
Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of Veterinary Care market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.
The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.
Overall, this is an in-depth research report specifically for the Veterinary Care industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.
Veterinary Care market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to Veterinary Care market.
Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of Veterinary Care market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.
Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new Veterinary Care market. These factors have benefited the growth of the global market for Veterinary Care. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.
New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for Veterinary Care. The global market is segmented on the basis of region, application, en-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).
In this study, the years considered to estimate the market size of Veterinary Care are as follows:
Reasons to Purchase this Report:
- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.
This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.
The study objectives of this report are:
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