The global veterinary service market size reached US$ 113.1 Billion in 2023. Looking forward, the market is projected to reach US$ 170.0 Billion by 2032, exhibiting a growth rate (CAGR) of 4.63% during 2023-2032.
A veterinary service is utilized in the surveillance, early diagnosis, and treatment of animal diseases, zoonoses, and foodborne zoonotic hazards. It relies on veterinary medicinal products, such as antimicrobial agents, to minimize the likelihood of non-compliance concerning veterinary drug residues in food of animal origin and the development of antimicrobial resistance (AMR). Besides this, it assists in increasing awareness about food producers, processors and distributors, and addressing animal production food safety.
It is utilized in veterinary for postoperative checks, dermatologic concerns, behavioral issues, and scheduled follow-up visits for pets with chronic diseases, thereby allowing veterinarians to prescribe the treatment without the direct examination of pets. This, coupled with recent expansions in pet services, including online pet pharmacies and food and product delivery via subscription services, is impelling the market growth.
Apart from this, advances in animal health biotechnologies, such as vaccines, antimicrobials, and diagnostic tools, for minimizing the burden of diseases and improving the standards of animal health and welfare are positively influencing the market. In addition, significant growth in the livestock sector is projected to create a positive outlook for the market in the upcoming years.
2. What is the expected growth rate of the global veterinary service market during 2024-2032?
3. What are the key factors driving the global veterinary service market?
4. What has been the impact of COVID-19 on the global veterinary service market?
5. What is the breakup of the global veterinary service market based on the service?
6. What is the breakup of the global veterinary service market based on the animal type?
7. What are the key regions in the global veterinary service market?
8. Who are the key players/companies in the global veterinary service market?
A veterinary service is utilized in the surveillance, early diagnosis, and treatment of animal diseases, zoonoses, and foodborne zoonotic hazards. It relies on veterinary medicinal products, such as antimicrobial agents, to minimize the likelihood of non-compliance concerning veterinary drug residues in food of animal origin and the development of antimicrobial resistance (AMR). Besides this, it assists in increasing awareness about food producers, processors and distributors, and addressing animal production food safety.
Veterinary Service Market Trends
With the rising number of human pathogens originating in animals, veterinary services are presently becoming increasingly essential for protecting animals, safeguarding public health, and ensuring food safety. This, in confluence with the increasing adoption of companion animals around the world, represents one of the key factors stimulating the growth of the market. Moreover, governments of numerous countries are relaxing the telemedicine and veterinarian-client-patient relationship (VCPR) regulations on account of the coronavirus disease (COVID-19) outbreak and making telemedicine available to pet parents.It is utilized in veterinary for postoperative checks, dermatologic concerns, behavioral issues, and scheduled follow-up visits for pets with chronic diseases, thereby allowing veterinarians to prescribe the treatment without the direct examination of pets. This, coupled with recent expansions in pet services, including online pet pharmacies and food and product delivery via subscription services, is impelling the market growth.
Apart from this, advances in animal health biotechnologies, such as vaccines, antimicrobials, and diagnostic tools, for minimizing the burden of diseases and improving the standards of animal health and welfare are positively influencing the market. In addition, significant growth in the livestock sector is projected to create a positive outlook for the market in the upcoming years.
Key Market Segmentation
This report provides an analysis of the key trends in each sub-segment of the global veterinary service market report, along with forecasts at the global, regional and country levels from 2024-2032. The report has categorized the market based on service, animal type, and end use.Breakup by Service:
- Surgery
- Diagnostic Tests and Imaging
- Physical Health Monitoring
- Others
Breakup by Animal Type:
- Companion Animal
- Farm Animal
Breakup by End Use:
- Veterinary Clinic
- Veterinary Hospital
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 Addison Biological Laboratory Inc., Armor Animal Health, CityVet, CVS Group PLC, Elanco Animal Health Incorporated, Ethos Veterinary Health LLC, FirstVet, Greencross Vets, Heska Corporation, Idexx Laboratories Inc., Intervet Inc. (Merck & Co. Inc.), PetIQ LLC and Pets at Home Group PLC.Key Questions Answered in This Report
1. What was the size of the global veterinary service market in 2023?2. What is the expected growth rate of the global veterinary service market during 2024-2032?
3. What are the key factors driving the global veterinary service market?
4. What has been the impact of COVID-19 on the global veterinary service market?
5. What is the breakup of the global veterinary service market based on the service?
6. What is the breakup of the global veterinary service market based on the animal type?
7. What are the key regions in the global veterinary service market?
8. Who are the key players/companies in the global veterinary service market?
Table of Contents
1 Preface3 Executive Summary11 Value Chain Analysis13 Price Analysis
2 Scope and Methodology
4 Introduction
5 Global Veterinary Service Market
6 Market Breakup by Service
7 Market Breakup by Animal Type
8 Market Breakup by End Use
9 Market Breakup by Region
10 SWOT Analysis
12 Porters Five Forces Analysis
14 Competitive Landscape
List of Figures
List of Tables
Companies Mentioned
- Addison Biological Laboratory Inc.
- Armor Animal Health
- CityVet
- CVS Group PLC
- Elanco Animal Health Incorporated
- Ethos Veterinary Health LLC
- FirstVet
- Greencross Vets
- Heska Corporation
- Idexx Laboratories Inc.
- Intervet Inc. (Merck & Co. Inc.)
- PetIQ LLC
- Pets at Home Group PLC.
Methodology
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 137 |
| Published | April 2024 |
| Forecast Period | 2023 - 2032 |
| Estimated Market Value ( USD | $ 113.1 Billion |
| Forecasted Market Value ( USD | $ 170 Billion |
| Compound Annual Growth Rate | 4.6% |
| Regions Covered | Global |
| No. of Companies Mentioned | 13 |
