The new report by Expert Market Research titled, ‘Global Veterinary Healthcare Market Share, Report and Forecast 2022-2027’, gives an in-depth analysis of the global veterinary healthcare market, assessing the market based on its segments like major products, animal types, and major regions.
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2017-2027)
Historical Market Size (2021): USD 30.2 Billion
Forecast CAGR (2022-2027): 8.4%
Forecast Market Size (2027): USD 49 Billion
Growing pet ownership, particularly among millennials and Gen-Z, is helping to boost the veterinary healthcare business. Pet parents are increasingly focusing on improving their pets’ quality of life, which has resulted in a major increase in the demand for pet immunizations. The growing trend of pet therapy and pet humanisation is fueling demand for optimal animal health. The market for vet Serangoon healthcare is set to rise as pet therapy as an alternative treatment becomes more popular among the youthful population.
The increasing frequency of many chronic conditions in pets is driving up demand for high-quality veterinarian treatment. The use of ultrasonography and X-ray technology for diagnosis in dogs is increasing in response to the growing demand for clinical assessment by pet parents. Because cancer is one of the most frequent diseases in cats and dogs, there is a growing demand for efficient therapeutic treatments. Furthermore, the increasing availability of technology such as computed axial tomography and magnetic resonance imaging for dogs is improving the quality of veterinary care and thereby contributing considerably to market growth.
Industry Definition and Major Segments
The control, diagnosis, and prevention of diseases, treatments, and injuries in animals is referred to as veterinary healthcare. It is critical to maintain animal health at its best. Toxicology, microbiology, pathology, radiography, and surgery are only a few of the scientific topics covered by veterinary medicine. It also helps to avoid the spread of zoonotic illnesses to humans.
On the basis of major products of veterinary healthcare, market is segmented into are:
Therapeutics segment can further be classified into:
Diagnostics segment can further be classified into:
On the basis of its animal types,the market can be broadly segmented into:
Dogs and Cats
On the Basis of region, the market can be divided into:
The Asia Pacific
The Middle East and Africa
The veterinary healthcare sector is growing due to the increasing use of digital technologies to monitor animal well-being and health. Furthermore, the growing trend of preventative healthcare to cut health-care expenses is driving up demand for animal wearable sensors.
Artificial intelligence (AI) in veterinary medicine offers real-time predictive analysis and detects disease causes, which is why it is becoming more widely utilised in diagnostics. Artificial intelligence (AI) is increasingly being integrated into various veterinary healthcare research and development (R&D) operations to better analyse data, which is fueling market expansion.
Key Market Players
The major players in the market are Elanco Animal Health, Ceva Sante Animale, Vetoquinol S.A., Zoetis Inc, Boehringer Ingelheim International GmbH, Biochek Group, and Others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
Expert Market Research (EMR) is a leading market research company with clients across the globe. Through comprehensive data collection and skilful analysis and interpretation of data, the company offers its clients extensive, latest, and actionable market intelligence which enables them to make informed and intelligent decisions and strengthen their position in the market. The clientele ranges from Fortune 1000 companies to small and medium-scale enterprises.
EMR customises syndicated reports according to client’s requirements and expectations. The company is active across over 15 prominent industry domains, including food and beverages, chemicals and materials, technology and media, consumer goods, packaging, agriculture, and pharmaceuticals, among others.
Over 3000 EMR consultants and more than 100 analysts work very hard to ensure that clients get only the most updated, relevant, accurate, and actionable industry intelligence so that they may formulate informed, effective, and intelligent business strategies and ensure their leadership in the market.
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