The global veterinary healthcare market reached a value of US$ 36.57 billion in 2021. Looking forward, the market is projected to reach a value of US$ 59.37 billion by 2027, exhibiting a CAGR of 8.10% during 2022-2027. Keeping in mind the uncertainties of COVID-19, the analyst is continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different End-use sectors. These insights are included in the report as a major market contributor.
Veterinary healthcare refers to a subset of science that deals with the diagnosis, treatment, and prevention of various diseases in animals to expand their lifespan. It involves several services, including regular monitoring of animal health and deployment of medicated animal feeds, diagnostic products, drugs, and vaccines for limiting the spread of zoonotic diseases amidst animals and people. These amenities are extensively provided by the sole traders, pharmacies, veterinary hospitals, clinics, and laboratory testing services. At present, veterinary healthcare facilities are available for both companions and livestock animals.
The global veterinary healthcare market is majorly being driven by the increasing prevalence of various zoonotic, food-borne, and chronic diseases, such as cancer, especially amongst cats and dogs. This is further supported by the emerging trend of pet humanization and the increasing concerns of pet owners toward animal health, which, in turn, is facilitating the demand for preventive and more sophisticated veterinary services and therapeutic and diagnostics treatments. In line with this, significant technological advancements, such as the introduction of veterinary health information systems for efficient data management, is acting as another growth-inducing factor. These devices assist in diagnosing animal health, facilitating real-time analysis of disease fluctuations, recording information on cloud-based platforms, and sharing essential veterinary clinic-generated data with clinicians and researchers directly through the internet. Moreover, the availability of favorable medical reimbursement policies and the extensive investments by the governments of various countries for implementing animal vaccination programs is contributing to the market growth. Apart from this, strategic collaborations amongst key players to launch various veterinary health products in distinctive flavors and taste, along with their easy availability across different online and offline distribution channels are further stimulating the market growth.
This report provides an analysis of the key trends in each sub-segment of the global veterinary healthcare market, along with forecasts at the global, regional and country level from 2022-2027. The report has categorized the market based on product, animal type and End-user.
The competitive landscape of the industry has also been examined along with the profiles of the key players being Animalcare Group plc, Boehringer Ingelheim International GmbH (C. H. Boehringer Sohn AG & Co. KG), 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 and Zoetis Inc. (Pfizer Inc.).
Veterinary healthcare refers to a subset of science that deals with the diagnosis, treatment, and prevention of various diseases in animals to expand their lifespan. It involves several services, including regular monitoring of animal health and deployment of medicated animal feeds, diagnostic products, drugs, and vaccines for limiting the spread of zoonotic diseases amidst animals and people. These amenities are extensively provided by the sole traders, pharmacies, veterinary hospitals, clinics, and laboratory testing services. At present, veterinary healthcare facilities are available for both companions and livestock animals.
Veterinary Healthcare Market Trends
The global veterinary healthcare market is majorly being driven by the increasing prevalence of various zoonotic, food-borne, and chronic diseases, such as cancer, especially amongst cats and dogs. This is further supported by the emerging trend of pet humanization and the increasing concerns of pet owners toward animal health, which, in turn, is facilitating the demand for preventive and more sophisticated veterinary services and therapeutic and diagnostics treatments. In line with this, significant technological advancements, such as the introduction of veterinary health information systems for efficient data management, is acting as another growth-inducing factor. These devices assist in diagnosing animal health, facilitating real-time analysis of disease fluctuations, recording information on cloud-based platforms, and sharing essential veterinary clinic-generated data with clinicians and researchers directly through the internet. Moreover, the availability of favorable medical reimbursement policies and the extensive investments by the governments of various countries for implementing animal vaccination programs is contributing to the market growth. Apart from this, strategic collaborations amongst key players to launch various veterinary health products in distinctive flavors and taste, along with their easy availability across different online and offline distribution channels are further stimulating the market growth.
Key Market Segmentation
This report provides an analysis of the key trends in each sub-segment of the global veterinary healthcare market, along with forecasts at the global, regional and country level from 2022-2027. The report has categorized the market based on 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
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
- Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Others
- Latin America
- Brazil
- Mexico
- Others
- Middle East and Africa
Competitive Landscape
The competitive landscape of the industry has also been examined along with the profiles of the key players being Animalcare Group plc, Boehringer Ingelheim International GmbH (C. H. Boehringer Sohn AG & Co. KG), 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 and Zoetis Inc. (Pfizer Inc.).
Key Questions Answered in This Report
- How has the global veterinary healthcare market performed so far and how will it perform in the coming years?
- What has been the impact of COVID-19 on the global veterinary healthcare market?
- What are the key regional markets?
- What is the breakup of the market based on the product?
- What is the breakup of the market based on the animal type?
- What is the breakup of the market based on the End-user?
- What are the various stages in the value chain of the industry?
- What are the key driving factors and challenges in the industry?
- What is the structure of the global veterinary healthcare market and who are the key players?
- What is the degree of competition in the industry?
Frequently Asked Questions about the Global Veterinary Healthcare Market
What is the estimated value of the Global Veterinary Healthcare Market?
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| Report Attribute | Details |
|---|---|
| No. of Pages | 145 |
| Published | April 2022 |
| Forecast Period | 2021 - 2027 |
| Estimated Market Value ( USD | $ 36.57 Billion |
| Forecasted Market Value ( USD | $ 59.37 Billion |
| Compound Annual Growth Rate | 8.4% |
| Regions Covered | Global |
| No. of Companies Mentioned | 13 |
Table of Contents
1 Preface3 Executive Summary11 Value Chain Analysis13 Price Analysis
2 Scope and Methodology
4 Introduction
5 Global Veterinary Healthcare Market
6 Market Breakup by Product
7 Market Breakup by Animal Type
8 Market Breakup by End User
9 Market Breakup by Region
10 SWOT Analysis
12 Porters Five Forces Analysis
14 Competitive Landscape
List of Figures
List of Tables
Companies Mentioned
- Animalcare Group plc
- Boehringer Ingelheim International GmbH (C. H. Boehringer Sohn AG & Co. KG)
- 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.)
Methodology
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