According to recent analysis by Future Market Insights (FMI), the global veterinary services market was valued at approximately USD 102.3 billion in 2021. The market is projected to experience significant growth, with an estimated compound annual growth rate (CAGR) of 8.4% from 2022 to 2032. This remarkable growth trajectory is expected to result in a market value of around USD 244.4 billion by 2032, expanding 2.4 times from its 2022 levels.
Several factors are driving this surge in the veterinary services sector. Notably, there has been a marked increase in zoonotic and food-borne infections, highlighting the need for safe and effective veterinary care. This demand is further propelled by the increasing requirements for emergency medical treatment for animals, emphasizing the importance of immediate and reliable veterinary services.
Government initiatives aimed at enhancing food and nutrition security, biosecurity, and animal safety are anticipated to contribute significantly to the advancement of veterinary care. Such programs reflect a growing recognition of the essential role that veterinary services play in safeguarding public health and food safety.
The COVID-19 pandemic has also had a profound impact on the veterinary industry. Disruptions in the cattle business led to the temporary closure of various packaging and processing factories globally, as restaurants and food service providers halted operations. These challenges resulted in a limited supply of animal samples for testing in veterinary laboratories, constraining segment growth during the pandemic.
However, the pandemic has also accelerated the adoption of telemedicine in veterinary care, as pet owners and healthcare practitioners seek alternative solutions for consultations and treatments. This shift is likely to reshape the veterinary services landscape in the coming years, making care more accessible and convenient for pet owners.
As the veterinary services market continues to evolve, stakeholders are well-positioned to respond to these emerging trends, ensuring that animal health and welfare remain a top priority.
Over the past decade, healthcare sector has been expanding remarkably, following the advent of artificial Intelligence and the Internet of Things integrated medical devices. Advancement in technology has created impressive scope within the medical sector for diagnostics and therapeutics.
The report offers extensive data sets validating key trends impacting growth in the Veterinary Services Market. It offers insights into strategies adopted by the key players rise and address the concerns that will challenge the growth of Veterinary Services Market. With our extensive research and information about the past, current and future market scenario, the Veterinary Services Market report will help and identify the concerns, for a smooth-sail of the small & medium as well as large enterprises.
Competitive Analysis
By Prominent Market Players
- Mars Inc.
- Greencross Ltd.
- National Veterinary Care Ltd.
- Pets at Home Group PLC
- CVS Group PLC
- Ethos Veterinary Health
- Addison Biological Laboratory
- Armor Animal Health
- PetIQ, LLC
With an extensive SWOT analysis, the FMI’s study presents the strengths, weaknesses, growth prospects and challenges of each player. The report also includes important data including the sales strategy, pricing strategy, and marketing strategy adopted by these players in the Veterinary Services Market
Market Segments Covered In Veterinary Services Industry Analysis
By Animal Type:
- Production Animal
- Cattle
- Poultry
- Swine
- Other Production Animals
- Companion Animal
- Dogs
- Cats
- Horses
- Other Companion Animals
By Region:
- North America
- Europe
- Asia Pacific
- Middle East and Africa
- Latin America
Author
Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.
Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.
Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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