According to Stratistics MRC, the Global Veterinary Healthcare market is accounted for $24.34 billion in 2015 and is expected to reach $40.8 billion by 2022 growing at a CAGR of 7.6% from 2015 to 2022. Factors such as food safety and improved nutrition, increase in pet ownership, increasing awareness of zoonotic diseases and increasing animal population are driving the market. However, increasing cost of animal testing, increased competition for cultivated land restrictions established by regulatory bodies will challenge the veterinary market.
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Feed additives held the largest share among the products segment followed by pharmaceuticals and vaccines. Europe is the leading market in veterinary healthcare followed by North America. Asia-pacific and other developing regions will be the major contributors to the market.
Some of the key players in global Veterinary Healthcare market are Merck & Co., Inc, MERIAL Limited, Zoetis Inc, Novartis Animal Health Inc, Bayer HealthCare, Ceva Santé Animale, Boehringer Ingelheim GmbH, Virbac SA, Elanco Products Company, Vétoquinol SA, Sanofi-Aventis, Intas Pharmaceuticals Ltd., Heska Corporation, PetAg Incorporated and Procter & Gamble Company.
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Nutritional Feed Additives
Medicinal Feed Additives
Rest of Europe
Rest of Asia Pacific
Rest of the World
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