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Veterinary Healthcare Market Overview, Developments & Forecast (2024-2032)
Veterinary Healthcare Market Size Was Valued at USD 60.46 Billion in 2023, and is Projected to Reach USD 111.72 Billion by 2032, Growing at a CAGR of 7.06 % From 2024-2032. Veterinary Healthcare Market refers to the total collection of products and services aimed at the management of the health of animals; these include diagnostic tools, therapeutic products, vaccines, and nutritional products.
IMR Group
Description
Veterinary Healthcare Market Synopsis:
Veterinary Healthcare Market Size Was Valued at USD 60.46 Billion in 2023, and is Projected to Reach USD 111.72 Billion by 2032, Growing at a CAGR of 7.06 % From 2024-2032.
Veterinary Healthcare Market refers to the total collection of products and services aimed at the management of the health of animals; these include diagnostic tools, therapeutic products, vaccines, and nutritional products. Therefore, BV covers the needs of pets and livestock, plays a definite role in the prevention and reduction of zoonoses and in animal production, and considers the interests of animal companions. It is, therefore, growing parallel to the number of pet animals across the world, advancement in the tactics used by veterinary doctors, and rising awareness among pet owners all over the world.
Over the past few years, the Veterinary Healthcare Market has been at a constant growth, the market has been pushed up by factors such as increase in population of pets as well as change in standards of living and customer perception towards animal. Longer breadth of pet products for dogs and cats are part of the family hence more demand for veterinary services/food and other pet related products. This trend has therefore led to the establishment of veterinary clinics and hospitals, diagnostic laboratories especially in the developed countries. Similarly, livestock health care is one of the most important value propositions that persists as people’s demand for quality animal protein develops further and as innovation and prevention of diseases do continue to be sought after.
There are new advancements in diagnosis and treatment that will develop the market through telemedicine, precision animal health, imaging technologies and others. Due to particular tendencies in the contemporary world, new zoonotic diseases, and concerns about AMR affected the governments and organizations in animal health. Donor support and governmental funding in R & D have just been on increasing the solution so that veterinary healthcare became an important segment of the global health care.
Veterinary Healthcare Market Trend Analysis:
Rising Adoption of Preventive Healthcare
Another new trend in Veterinary Healthcare Market is known as Preventive Healthcare. The consumers are now very particular with their pet’s annual physical check up, vaccines, and other wellness care for their pets. This is a deviation from treating diseases to the production of devices and appliances used to diagnose diseases before they develop. Walsh and colleagues also report an increase in the performance of annual vaccinations, external parasite control, and vitamin/mineral supplementation because they control diseases that lead to chronic diseases in animals. The main target customers in Vet medicine are always campaigning to market preventive health check-ups thereby creating a constant market for products within this category.
Expansion in Emerging Markets
Due to the development attributes of the emerging markets, the Veterinary Healthcare Market considers them a suitable market to invest in. Some regions in Asia-Pacific, Latin America and Africa are gradually moving to adopt pets, which has led to heightened focus on production of animal proteins as well as enhanced health needs of animals. The authorities of these regions are accumulating significant stocks in its investment on veterinary infrastructures and capabilities; thus the opportunity is gradually more often being exploited by private sectors. Further, the markets for veterinary products and medicines have also benefited from the ease of using e commerce business and its operational facilities across the said regions.
Veterinary Healthcare Market Segment Analysis:
The Veterinary Healthcare Market Segmented on the basis of animal type, hospital type, sector, and Region.
By Animal Type, the Companion animals segment is expected to dominate the market during the forecast period
The Companion animals’ segment is projected to be the largest segment of the Veterinary Healthcare Market during the forecast period of 2019-2025. Pet humanization is a next-generation tendency where the pets are given the same place as a family member; therefore, any investment made to their health right will be justified. There are dogs and cats of which people use all their wages to purchase these animals due to the vet services which the need for nourishment, immunization, and check-ups among others.
By Hospital Type, the Medicine segment is expected to hold the largest share
Especially the Medicine segment is expected to dominate the Veterinary Healthcare Market share worldwide, due to the most popular requests for therapeutic and preventive products starting from pets up to livestock. This section contains antibiotics, anti-fungal, anti-parasitic, and other therapeutic cubes which are important for disease control in animals and for improved health of the animals. These are; rise in incidence of zoonotic diseases and antimicrobial resistance hence the need for companion veterinary medicines. Other formulations include long-acting injectables and chewable tablets; features that have improved administration and patient compliance.
Veterinary Healthcare Market Regional Insights:
North America is Expected to Dominate the Market Over the Forecast period
The Veterinary Healthcare Market in North America is expected to be the largest market in the next forecast period. This is due to the well-developed network of veterinary care in the region, a high degree of pet owner awareness and per capita, there are a lot of pets in this region. The US covers the most extensive investment in R&D, having the largest number of clinics and choosing pet insurance, as well.
In addition, much stress has been laid on ensuring firm animals’ health is well contained in this particular sector and much as it is very important in containing this sector it is even more valuable in North America. The regional international governmental and non-governmental organizations are engaged in mass vaccination and enhanced disease surveillance for zoonotic diseases. These interventions along with related technologies and a strong base of main market participants have made the North American Veterinary Healthcare Market the most powerful sale zone for the Veterinary Healthcare Market.
Active Key Players in the Veterinary Healthcare Market
Bayer Animal Health (Germany)
Boehringer Ingelheim (Germany)
Ceva Santé Animale (France)
Dechra Pharmaceuticals (United Kingdom)
Elanco Animal Health (United States)
Heska Corporation (United States)
Idexx Laboratories (United States)
Merck Animal Health (United States)
Norbrook Laboratories (United Kingdom)
Phibro Animal Health Corporation (United States)
Vetoquinol (France)
Virbac (France)
Zoetis (United States)
Zydus Animal Health (India)
Kyoritsu Seiyaku (Japan)
Other Active Players
Chapter 1: Introduction
1.1 Scope and Coverage
Chapter 2:Executive Summary
Chapter 3: Market Landscape
3.1 Market Dynamics
3.1.1 Drivers
3.1.2 Restraints
3.1.3 Opportunities
3.1.4 Challenges
3.2 Market Trend Analysis
3.3 PESTLE Analysis
3.4 Porter’s Five Forces Analysis
3.5 Industry Value Chain Analysis
3.6 Ecosystem
3.7 Regulatory Landscape
3.8 Price Trend Analysis
3.9 Patent Analysis
3.10 Technology Evolution
3.11 Investment Pockets
3.12 Import-Export Analysis
Chapter 4: Veterinary Healthcare Market by Product
4.1 Veterinary Healthcare Market Snapshot and Growth Engine
4.2 Veterinary Healthcare Market Overview
4.3 Drug Vaccines
4.3.1 Introduction and Market Overview
4.3.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
4.3.3 Key Market Trends, Growth Factors and Opportunities
4.3.4 Drug Vaccines: Geographic Segmentation Analysis
Chapter 5: Veterinary Healthcare Market by Route of Administration
5.1 Veterinary Healthcare Market Snapshot and Growth Engine
5.2 Veterinary Healthcare Market Overview
5.3 Oral Parental Others
5.3.1 Introduction and Market Overview
5.3.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
5.3.3 Key Market Trends, Growth Factors and Opportunities
5.3.4 Oral Parental Others: Geographic Segmentation Analysis
Chapter 6: Veterinary Healthcare Market by Distribution Channel
6.1 Veterinary Healthcare Market Snapshot and Growth Engine
6.2 Veterinary Healthcare Market Overview
6.3 Veterinary Hospitals & Clinics Retail Stores Online Pharmacies
6.3.1 Introduction and Market Overview
6.3.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
6.3.3 Key Market Trends, Growth Factors and Opportunities
6.3.4 Veterinary Hospitals & Clinics Retail Stores Online Pharmacies: Geographic Segmentation Analysis
Chapter 7: Company Profiles and Competitive Analysis
7.1 Competitive Landscape
7.1.1 Competitive Benchmarking
7.1.2 Veterinary Healthcare Market Share by Manufacturer (2023)
7.1.3 Industry BCG Matrix
7.1.4 Heat Map Analysis
7.1.5 Mergers and Acquisitions
7.2 BAYER ANIMAL HEALTH (GERMANY)
7.2.1 Company Overview
7.2.2 Key Executives
7.2.3 Company Snapshot
7.2.4 Role of the Company in the Market
7.2.5 Sustainability and Social Responsibility
7.2.6 Operating Business Segments
7.2.7 Product Portfolio
7.2.8 Business Performance
7.2.9 Key Strategic Moves and Recent Developments
7.2.10 SWOT Analysis
7.3 BOEHRINGER INGELHEIM (GERMANY)
7.4 CEVA SANTÉ ANIMALE (FRANCE)
7.5 DECHRA PHARMACEUTICALS (UNITED KINGDOM)
7.6 ELANCO ANIMAL HEALTH (UNITED STATES)
7.7 HESKA CORPORATION (UNITED STATES)
7.8 IDEXX LABORATORIES (UNITED STATES)
7.9 MERCK ANIMAL HEALTH (UNITED STATES)
7.10 NORBROOK LABORATORIES (UNITED KINGDOM)
7.11 PHIBRO ANIMAL HEALTH CORPORATION (UNITED STATES)
7.12 VETOQUINOL (FRANCE)
7.13 VIRBAC (FRANCE)
7.14 ZOETIS (UNITED STATES)
7.15 ZYDUS ANIMAL HEALTH (INDIA)
7.16 KYORITSU SEIYAKU (JAPAN)
7.17 OTHER ACTIVE PLAYERS
Chapter 8: Global Veterinary Healthcare Market By Region
8.1 Overview
8.2. North America Veterinary Healthcare Market
8.2.1 Key Market Trends, Growth Factors and Opportunities
8.2.2 Top Key Companies
8.2.3 Historic and Forecasted Market Size by Segments
8.2.4 Historic and Forecasted Market Size By Product
8.2.4.1 Drug Vaccines
8.2.5 Historic and Forecasted Market Size By Route of Administration
8.2.5.1 Oral Parental Others
8.2.6 Historic and Forecasted Market Size By Distribution Channel
8.2.6.1 Veterinary Hospitals & Clinics Retail Stores Online Pharmacies
8.2.7 Historic and Forecast Market Size by Country
8.2.7.1 US
8.2.7.2 Canada
8.2.7.3 Mexico
8.3. Eastern Europe Veterinary Healthcare Market
8.3.1 Key Market Trends, Growth Factors and Opportunities
8.3.2 Top Key Companies
8.3.3 Historic and Forecasted Market Size by Segments
8.3.4 Historic and Forecasted Market Size By Product
8.3.4.1 Drug Vaccines
8.3.5 Historic and Forecasted Market Size By Route of Administration
8.3.5.1 Oral Parental Others
8.3.6 Historic and Forecasted Market Size By Distribution Channel
8.3.6.1 Veterinary Hospitals & Clinics Retail Stores Online Pharmacies
8.3.7 Historic and Forecast Market Size by Country
8.3.7.1 Russia
8.3.7.2 Bulgaria
8.3.7.3 The Czech Republic
8.3.7.4 Hungary
8.3.7.5 Poland
8.3.7.6 Romania
8.3.7.7 Rest of Eastern Europe
8.4. Western Europe Veterinary Healthcare Market
8.4.1 Key Market Trends, Growth Factors and Opportunities
8.4.2 Top Key Companies
8.4.3 Historic and Forecasted Market Size by Segments
8.4.4 Historic and Forecasted Market Size By Product
8.4.4.1 Drug Vaccines
8.4.5 Historic and Forecasted Market Size By Route of Administration
8.4.5.1 Oral Parental Others
8.4.6 Historic and Forecasted Market Size By Distribution Channel
8.4.6.1 Veterinary Hospitals & Clinics Retail Stores Online Pharmacies
8.4.7 Historic and Forecast Market Size by Country
8.4.7.1 Germany
8.4.7.2 UK
8.4.7.3 France
8.4.7.4 The Netherlands
8.4.7.5 Italy
8.4.7.6 Spain
8.4.7.7 Rest of Western Europe
8.5. Asia Pacific Veterinary Healthcare Market
8.5.1 Key Market Trends, Growth Factors and Opportunities
8.5.2 Top Key Companies
8.5.3 Historic and Forecasted Market Size by Segments
8.5.4 Historic and Forecasted Market Size By Product
8.5.4.1 Drug Vaccines
8.5.5 Historic and Forecasted Market Size By Route of Administration
8.5.5.1 Oral Parental Others
8.5.6 Historic and Forecasted Market Size By Distribution Channel
8.5.6.1 Veterinary Hospitals & Clinics Retail Stores Online Pharmacies
8.5.7 Historic and Forecast Market Size by Country
8.5.7.1 China
8.5.7.2 India
8.5.7.3 Japan
8.5.7.4 South Korea
8.5.7.5 Malaysia
8.5.7.6 Thailand
8.5.7.7 Vietnam
8.5.7.8 The Philippines
8.5.7.9 Australia
8.5.7.10 New Zealand
8.5.7.11 Rest of APAC
8.6. Middle East & Africa Veterinary Healthcare Market
8.6.1 Key Market Trends, Growth Factors and Opportunities
8.6.2 Top Key Companies
8.6.3 Historic and Forecasted Market Size by Segments
8.6.4 Historic and Forecasted Market Size By Product
8.6.4.1 Drug Vaccines
8.6.5 Historic and Forecasted Market Size By Route of Administration
8.6.5.1 Oral Parental Others
8.6.6 Historic and Forecasted Market Size By Distribution Channel
8.6.6.1 Veterinary Hospitals & Clinics Retail Stores Online Pharmacies
8.6.7 Historic and Forecast Market Size by Country
8.6.7.1 Turkiye
8.6.7.2 Bahrain
8.6.7.3 Kuwait
8.6.7.4 Saudi Arabia
8.6.7.5 Qatar
8.6.7.6 UAE
8.6.7.7 Israel
8.6.7.8 South Africa
8.7. South America Veterinary Healthcare Market
8.7.1 Key Market Trends, Growth Factors and Opportunities
8.7.2 Top Key Companies
8.7.3 Historic and Forecasted Market Size by Segments
8.7.4 Historic and Forecasted Market Size By Product
8.7.4.1 Drug Vaccines
8.7.5 Historic and Forecasted Market Size By Route of Administration
8.7.5.1 Oral Parental Others
8.7.6 Historic and Forecasted Market Size By Distribution Channel
8.7.6.1 Veterinary Hospitals & Clinics Retail Stores Online Pharmacies
8.7.7 Historic and Forecast Market Size by Country
8.7.7.1 Brazil
8.7.7.2 Argentina
8.7.7.3 Rest of SA
Chapter 9 Analyst Viewpoint and Conclusion
9.1 Recommendations and Concluding Analysis
9.2 Potential Market Strategies
Chapter 10 Research Methodology
10.1 Research Process
10.2 Primary Research
10.3 Secondary Research
Q1: What would be the forecast period in the Veterinary Healthcare Market research report?
A1: The forecast period in the Veterinary Healthcare Market research report is 2024-2032.
Q2: Who are the key players in the Veterinary Healthcare Market?
A2: Boehringer Ingelheim, Ceva Santé Animale, Zoetis, Elanco Animal Health, and Merck Animal Health, and Other Active Players.
Q3: What are the segments of the Veterinary Healthcare Market?
A3: The Veterinary Healthcare Market is segmented into Animal Type, Hospital Type, Sector, and region. By Animal Type, the market is categorized into Companion Animals and Farm Animals. By Hospital, the market is categorized into Surgery, Medicine Consultation. By Sector, the market is categorized into Public and Private. By region, it is analyzed across North America (U.S., Canada, Mexico), Eastern Europe (Russia, Bulgaria, The Czech Republic, Hungary, Poland, Romania, Rest of Eastern Europe), Western Europe (Germany, UK, France, The Netherlands, Italy, Spain, Rest of Western Europe), Asia Pacific (China, India, Japan, South Korea, Malaysia, Thailand, Vietnam, The Philippines, Australia, New-Zealand, Rest of APAC), Middle East & Africa (Turkiye, Bahrain, Kuwait, Saudi Arabia, Qatar, UAE, Israel, South Africa), South America (Brazil, Argentina, Rest of SA).
Q4: What is the Veterinary Healthcare Market?
A4: Veterinary Healthcare Market refers to the total collection of products and services aimed at the management of health of animals; these include diagnostic tools, therapeutic products, vaccines and nutritional products. Therefore, BV covers needs of pets and livestock, plays definite role in the prevention and reduction of zoonoses and in animal production, and considers the interests of animal companions. It is, therefore, growing parallel to the number of pet animals across the world, advancement in the tactics used by veterinary doctors, and rising awareness among pet owners all over the world.
Q5: How big is the Veterinary Healthcare Market?
A5: Veterinary Healthcare Market Size Was Valued at USD 60.46 Billion in 2023, and is Projected to Reach USD 111.72 Billion by 2032, Growing at a CAGR of 7.06 % From 2024-2032.
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