In contrast to the definition of “veterinary services,” which refers to a development utilised for the care and treatment of all animals, “veterinary services” mostly refers to outpatient care and minor medical treatments requiring hospitalization for less than four days. Today’s veterinarians put a lot of effort into addressing the health and welfare requirements of all animal species. The diagnosis, prevention, and treatment of illnesses affecting the health of both domestic and wild animals, as well as the prevention of the spread of animal diseases to humans, are the focus of the medical speciality known as veterinary medicine.
The provision of medications, vaccines, and other products, the prevention of disease outbreaks, clinical services (the treatment of ill animals and the management of production-limiting disorders), and human health protection (the inspection of marketed products) are the four main categories of veterinary services.
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Market Statistics
The market for veterinary services worldwide has a value of US$ 92,238.4 million in 2020 and is estimated to expand at a CAGR of 6.9% from 2021 to 2028 for attending to US$ 157,399.8 million.
In terms of volume, North America had the lion’s share of the worldwide market for veterinary services in 2020, with a 47.7% share, followed by Europe and the Asia Pacific.
Recent Developments
In order to improve service offerings and provide patients and their families with cutting-edge veterinary pharmaceuticals, Ethos and National Veterinary Associates partnered in August 2021.
To reach out to more pet owners, Greencross Vets announced the establishment of WebVet, a 24/7 online consultation platform for animals.
In August 2019, Ethos Discovery introduced a programme named Ethos Precision Medicine Umbrella Study for Hemangiosarcoma to treat canine splenic hemangiosarcoma (ePUSH).
Market Drivers
Over the course of the forecast period, increased pet health awareness and the need for efficient medical treatment are anticipated to fuel the expansion of the worldwide veterinary services market. For instance, the Federation of Indian Animal Protection Organization (FIAPO) has collaborated with various local activists and animal rights organizations to promote animal care in India. Additionally, the federation has been advocating for a variety of animal welfare concerns through lobbying and awareness campaigns.
The worldwide market for veterinary services is anticipated to develop over the course of the projected period as a result of the rising prevalence of different animal illnesses and zoonotic diseases. For instance, zoonotic infections are quite prevalent both in the United States and across the world, according to the Centers for Disease Control and Prevention (CDC). According to scientific estimates, 3 out of every 4 new or emerging infectious illnesses in humans and more than 6 out of every 10 recognised infectious diseases in humans can be transmitted from animals.
Market Restraints
The development of the worldwide veterinary services market is anticipated to be constrained by the high cost of veterinary services and a lack of competent labor. The high cost of veterinary services is a result of the high cost of veterinary medications and diagnostic imaging supplies.
The development of the worldwide veterinary services market is anticipated to be hampered by a lack of knowledge in developing or underdeveloped nations. For instance, the two most popular domestic pets that might be a direct or indirect source of zoonotic illnesses are cats and dogs.
Market Opportunities
For companies in the veterinary services industry, the global spread of COVID-19 is anticipated to provide profitable development prospects. For instance, in May 2020, Humane Society International/Canada, Friends of HSI, and the City of Montreal jointly launched the COVID-19 Animal Response Program in Quebec with the kind assistance of PetSmart Charities of Canada. The initiative will offer vital support to individuals and families who urgently require aid in caring for their companion animals during this crisis.
Players in the veterinary services market should have a lot of room to develop as a result of the rising demand for veterinary services throughout the world. For instance, the introduction of multi-specialty animal clinics by DCC (Dogs, Cats, & Companions) Animal Hospital increased its presence in India in February 2021.
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Market Trends/Key Takeaways
The worldwide veterinary services market is anticipated to increase as a result of favourable government and industry player initiatives to offer veterinary services. For instance, mobile veterinary units (VMAs) were introduced by the Ministry of Fisheries, Animal Husbandry & Dairy, Government of India, in May 2020 to offer veterinary services to farmers at their doorstep. The Government of India’s “Livestock Health & Disease Control programme” has as its main objective enhancing animal health.
The launch of innovative goods or services by market participants is anticipated to support the expansion of the global veterinary services industry. For instance, PetSmart announced the opening of PetSmart Veterinary Services (PVS) in June 2022 to offer veterinarians a comprehensive option for starting their own franchised practise and to connect pet parents.
Competitive Landscape
Includes CVS Group PLC, Ethos Veterinary Health, Greencross Vets, Idexx Laboratories Inc., Mars Inc., Pets at Home Group PLC, Armor Animal Health (Animart), Kremer Veterinary Services, FirstVet AB, CityVet Inc.
Reasons to buy this Veterinary Services Market Report
☑ It attempts an analysis of the competing scenario.
☑ The current and exceptional product revenue market.
☑ An in-depth data on the regional investigation and competitive landscape structure.
☑ It benefits in creating an awareness of the important key product segments.
☑ The marketing strategies, opportunities, and development factors are explained.
☑ Veterinary Services market size estimation and recent advancements in the industry are explained.
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Table of Content
Chapter 1 Industry Overview
1.1 Definition
1.2 Assumptions
1.3 Research Scope
1.4 Market Analysis by Regions
1.5 Veterinary Services Market Size Analysis from 2022 to 2028
11.6 COVID-19 Outbreak: Veterinary Services Industry Impact
Chapter 2 Global Veterinary Services Competition by Types, Applications, and Top Regions and Countries
2.1 Global Veterinary Services (Volume and Value) by Type
2.3 Global Veterinary Services (Volume and Value) by Regions
Chapter 3 Production Market Analysis
3.1 Global Production Market Analysis
3.2 Regional Production Market Analysis
Chapter 4 Global Veterinary Services Sales, Consumption, Export, Import by Regions
Chapter 5 North America Veterinary Services Market Analysis
Chapter 6 East Asia Veterinary Services Market Analysis
Chapter 7 Europe Veterinary Services Market Analysis
Chapter 8 South Asia Veterinary Services Market Analysis
Chapter 9 Southeast Asia Veterinary Services Market Analysis
Chapter 10 Middle East Veterinary Services Market Analysis
Chapter 11 Africa Veterinary Services Market Analysis
Chapter 12 Oceania Veterinary Services Market Analysis
Chapter 13 South America Veterinary Services Market Analysis
Chapter 14 Company Profiles and Key Figures in Veterinary Services Business
Chapter 15 Global Veterinary Services Market Forecast (2022-2028)
Chapter 16 Conclusions
Research Methodology….
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