According to IMARC Group latest report titled “Veterinary Healthcare Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028”, offers a comprehensive analysis of the industry, which comprises insights on veterinary healthcare market share. The report also includes competitor and regional analysis, and contemporary advancements in the global market.
The global veterinary healthcare market size reached US$ 40.2 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 64.0 Billion by 2028, exhibiting a growth rate (CAGR) of 7.75% during 2023-2028.
Veterinary healthcare encompasses a broad range of medical services and products aimed at the prevention, diagnosis, and treatment of diseases and injuries in animals. It plays a crucial role in ensuring the well-being and health of pets, livestock, and other animals. Veterinary healthcare is provided by trained professionals such as veterinarians, veterinary technicians, and other specialists. Similar to human healthcare, veterinary healthcare focuses on promoting and maintaining the optimal health of animals, as well as addressing any medical conditions or ailments they may encounter.
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Market Trends:
One of the primary factors boosting the growth of the global veterinary healthcare market is the increasing pet ownership worldwide. As more individuals are increasingly willing to invest in the health and well-being of their animal companions, it is leading to a rise in veterinary visits, vaccinations, and preventive care. Furthermore, there is a growing emphasis on animal welfare and the importance of preventive medicine in veterinary healthcare. Animal owners and organizations are becoming more aware of the benefits of early disease detection, vaccination programs, and regular check-ups to ensure the overall health of animals. This shift has boosted the demand for veterinary healthcare services, including routine examinations, vaccinations, and wellness programs. In addition, advancements in veterinary medicine and technology are driving the market forward. Innovations in diagnostic equipment, surgical procedures, pharmaceuticals, and treatment modalities have improved the quality of care and expanded the range of available veterinary services. These advancements enable veterinarians to diagnose and treat various conditions more effectively, resulting in better outcomes for animals and increased demand for veterinary healthcare services. Moreover, the increasing focus on livestock health and production has contributed to the growth of the veterinary healthcare market. Livestock plays a crucial role in global food production, and ensuring the health and well-being of animals in agricultural settings is paramount. The rising demand for animal-derived products, coupled with stringent quality and safety regulations, has further fueled the need for veterinary healthcare services in the livestock industry.
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Competitive Landscape:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
- Animalcare Group plc
- Boehringer Ingelheim International GmbH
- Ceva Animal Health LLC
- Dechra Pharmaceuticals PLC
- Elanco Animal Health Incorporated
- Heska Corporation
- IDEXX Laboratories Inc.
- INDICAL Bioscience GmbH (Vimian Group)
- Merck & Co. Inc.
- Norbrook Laboratories Ltd
- Vetoquinol India Animal Health Pvt Ltd (Vétoquinol S.A.)
- Virbac
- Zoetis Inc. (Pfizer Inc.)
Veterinary Healthcare Market Segmentation:
Our report has categorized the market based on region, product, animal type and end user.
Breakup by Product:
- Therapeutics
- Vaccines
- Parasiticides
- Anti-Infectives
- Medical Feed Additives
- Others
- Diagnostics
- Immunodiagnostic Tests
- Molecular Diagnostics
- Diagnostic Imaging
- Clinical Chemistry
- Others
Breakup by Animal Type:
- Dogs and Cats
- Horses
- Ruminants
- Swine
- Poultry
- Others
Breakup by End User:
- Veterinary Hospitals
- Veterinary Clinics
- Veterinary Laboratory Testing Services
- Others
Breakup by Region:
- North America (United States, Canada)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
Key highlights of the report:
- Market Performance (2017-2022)
- Market Outlook (2023-2028)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
About Us
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IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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