The global Veterinary Services market size is expected to be worth around US$ 242.02 billion by 2030, according to a new report by Vision Research Reports.
The global Veterinary Services market size was valued at US$ 92.78 billion in 2020 and is anticipated to grow at a CAGR of 7.6% during forecast period 2021 to 2030.
Rising concerns regarding food security and safety are encouraging the adoption of veterinary services worldwide. In addition, increasing pet adoption is one of the primary growth stimulants for the market.
In addition, the advent of risk-based management systems, designed to analyze real-time fluctuations in food-borne and zoonotic disease prevalence, is widening the scope for growth of the veterinary services market. Veterinary services play a critical role in risk aversion and facilitate the implementation of various guidelines issued by regulatory authorities to maintain overall food safety. It also facilitates investigation of animal disease outbreaks and the implementation of remedial measures after the identification of an outbreak. The aforementioned factors are expected to help the market gain tremendous momentum over the coming years.
Furthermore, a sharp rise in the pet population globally in recent times has also led to a greater demand for veterinary services. Veterinarians and veterinary service providers are undertaking consistent efforts to ensure animal welfare, thus encouraging pet owners to incline towards these services.
Widening base of both pet and livestock population is leading to an increased demand for elderly pet care. Moreover, a rising number of pet owners are perceiving pets as an important part of the family. This is resulting in an upswing in expenditure on pet care. These factors along with the rising disposable income of people worldwide are providing an upthrust to the market.
On the basis of animal type, production animal dominated the market in 2017. Rising concerns regarding food safety and sustainability by government healthcare organizations globally are supplementing the growth of the segment. Policymakers in various countries are striving to achieve total food security, which augments large-scale food production and results in greater rearing of livestock.
Policies are focused on long-term sustainability that can be achieved through a combination of improving productivity and greater attention to livestock veterinary healthcare. According to the Food and Agriculture Organization, in emerging economies, animal-based food products account for one-third of human protein consumption. This is leading to an increase in livestock productivity, which is critical to meet the dietary needs of the growing human population. These factors cumulatively are responsible for sizeable share represented by production animals in the veterinary services market during the forecast period.
Surging demand for efficient monitoring and awareness about epidemiology and pathogenesis of diseases in pets is prompting organizations, such as Companion Animal Parasite Council and European Scientific Counsel Companion Animal Parasites, to ensure appropriate measures are taken. These organizations also aim at maximizing productivity, focus on disease prevention, and improve the nutritional content of finished pet products.
North America is likely to be the largest regional market throughout the forecast horizon, owing to several definitive measures taken by various government animal welfare organizations to improve veterinary services in the U.S. and Canada. In the U.S. expansion of new animal education programs, including non-traditional programs seeking accreditation, is estimated to improve access to these services, therefore widening the scope of adoption of veterinary services over the coming years.
On the other hand, Asia Pacific is poised to post the highest CAGR during the same period. Growing pet and livestock population in developed and emerging economies is one of the primary growth stimulants for the region. Furthermore, veterinary services are cost-effective in the long run as they help the rural population in preserving their livestock.
In Japan, the proportion of veterinarians catering to pets and other small animals is increasing, thus shaping the future of the market. Similarly, demand for veterinarians and their services is anticipated to increase in India owing to the upsurge in demand for products such as meat and milk as a consequence of the increasing population of the country.
|Market Size||US$ 242.02 billion by 2030|
|Growth Rate||CAGR of 7.6% From 2021 to 2030|
|Historic Data||2017 to 2020|
|Forecast Period||2021 to 2030|
|Segments Covered||Animal Type|
|Regional Scope||North America, Latin America, Europe, Asia Pacific, MEA|
|Companies Mentioned||Mars, Inc.; Greencross Ltd.; National Veterinary Care Ltd.; Pets At Home Group Plc; Cvs Group Plc; Ethos Veterinary Health; Addison Biological Laboratory; Armor Animal Health; Petiq LLC|
CVS Group PLC, Ethos Veterinary Health, Idexx laboratories, National Veterinary Care Ltd, and Mars Inc.
Animal Type Outlook
Middle East & Africa
The Veterinary Services 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 Services 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 Services market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Veterinary Services 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 Services 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 Services 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 Services 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 Services 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 Services market companies.
Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of Veterinary Services 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 Services 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.
The Veterinary Services 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 Services 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 Services 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 Services market. These factors have benefited the growth of the global market for Veterinary Services. 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 Services. 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 Services 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.
Market Size Estimation
Top-down and bottom-up approaches are used to estimate and validate the global market size for company, regional division, product type and application (end users).
The market estimations in this report are based on the selling price (excluding any discounts provided by the manufacturer, distributor, wholesaler or traders). Market share analysis, assigned to each of the segments and regions are achieved through product utilization rate and average selling price.
Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.
All possible factors that influence the markets included in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. The market size for top-level markets and sub-segments is normalized, and the effect of inflation, economic downturns, and regulatory & policy changes or others factors are accounted for in the market forecast. This data is combined and added with detailed inputs and analysis from Vision Research Reports and presented in this report.
Market Breakdown and Data Triangulation
After complete market engineering with calculations for market statistics; market size estimations; market forecasting; market breakdown; and data triangulation. Extensive primary research was conducted to gather information and verify and validate the critical numbers arrived at. In the complete market engineering process, both top-down and bottom-up approaches were extensively used, along with several data triangulation methods, to perform market estimation and market forecasting for the overall market segments and sub-segments listed in this report.
Secondary Sources occupies approximately 25% of data sources, such as press releases, annual reports, Non-Profit organizations, industry associations, governmental agencies and customs data, and so on. This research study includes secondary sources; directories; databases such as Bloomberg Business, Wind Info, Hoovers, Factiva (Dow Jones & Company), TRADING ECONOMICS, and avention; Investing News Network; statista; Federal Reserve Economic Data; annual reports; investor presentations; and SEC filings of companies.
In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. The primary sources from the supply side include product manufacturers (and their competitors), opinion leaders, industry experts, research institutions, distributors, dealer and traders, as well as the raw materials suppliers and producers, etc.
The primary sources from the demand side include industry experts such as business leaders, marketing and sales directors, technology and innovation directors, supply chain executive, end users (product buyers), and related key executives from various key companies and organizations operating in the global market.
The study objectives of this report are:
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