The global veterinary healthcare market reached a value of US$36.57 billion in 2021. The market is expected to reach a value of US$59.37 billion by 2027
SHERIDAN, WYOMING, USA, April 20, 2022 /EINPresswire.com/ — According to IMARC Group’s latest report titled “Veterinary Healthcare Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, offers a comprehensive analysis of the industry, which includes information about veterinary health market report. The report also includes competitor and regional analysis, as well as contemporary advancements in the global market. The global veterinary healthcare market reached a value of US$36.57 billion in 2021. Looking ahead, IMARC Group expects the market to reach a value of US$59.37 billion by 2027, growing at a CAGR of 8.10% in 2022-2027.
Veterinary health care involves caring for animals to prevent them from contracting many diseases. It includes several services and products including antibiotics, growth promoters, vaccines, feed additives, antimicrobials, parasiticides, etc. Veterinary health items are used to ensure the well-being of various food-producing and companion animals. They also help ensure a safe food supply chain by reducing the spread of zoonotic diseases. As a result, pet and livestock owners in all countries spend heavily on veterinary health products in an effort to keep their animals healthy and productive.
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As the novel coronavirus (COVID-19) crisis engulfs the world, we are continuously monitoring changes in markets, as well as consumer buying behaviors around the world and our estimates on the latest market trends and forecasts are made after taking into account the impact of this pandemic.
Growing demand for protein-rich foods and increasing incidence of foodborne diseases are some of the major factors driving the veterinary healthcare market. Furthermore, continuous technological advancements in veterinary healthcare, such as the development of vaccine banks and efficient information management systems, further catalyze the growth of the market. Additionally, the launch of numerous favorable initiatives by the government bodies including the introduction of animal vaccination programs to optimize the veterinary sector is also positively influencing the global market. In addition to this, the increasing production of food products of animal origin and their easy availability in affordable and inexpensive price ranges act as important growth factors. Furthermore, the emergence of new variants of zoonotic diseases and the growing concerns of livestock keepers over them are expected to drive the veterinary healthcare market in the coming years.
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Competitive landscape with key players:
The report has also analyzed the competitive landscape of the market with some of the key players.
• Animalcare Group plc
• Boehringer Ingelheim International GmbH
• Ceva Animal Health LLC
• Dechra Pharmaceuticals PLC
• Elanco Animal Health Incorporated
• Heska Company
• IDEXX Laboratories Inc.
• INDICAL Bioscience GmbH (Vimian Group)
• Merck & Co. Inc.
• Norbrook Laboratories Ltd.
• Vetoquinol India Animal Health Pvt Ltd (Vétoquinol SA)
• Zoetis Inc. (Pfizer Inc.)
Veterinary Healthcare Market Segmentation:
Our report has categorized the market based on region, product, animal type, and end user.
Breakdown by product:
o Pest control
o Medical food additives
o Immunodiagnostic tests
o Molecular diagnostics
o Diagnostic imaging
o Clinical chemistry
Breakdown by type of animal:
• Dogs and cats
Breakdown by end user:
• Veterinary hospitals
• Veterinary clinics
• Veterinary laboratory testing services
Breakdown 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, others)
Main highlights of the report:
• Market performance (2016-2021)
• Market Outlook (2022-2027)
• Porter’s five forces analysis
• Market drivers and success factors
• SWOT analysis
• Value chain
• Complete mapping of the competitive landscape
Note: We update our reports, if you want the latest primary and secondary data (2022-2027) with cost module, business strategy, competitive landscape, etc. Click on request a free sample report, the report will be delivered to you in PDF format via email within 24-48 hours after payment confirmation.
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