According to IMARC Group latest report titled “Veterinary Healthcare Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, offers a comprehensive analysis of the industry, which comprises insights on veterinary healthcare market report. The report also includes competitor and regional analysis, and contemporary advancements in the global market. The global veterinary healthcare market reached a value of US$ 36.57 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 59.37 Billion by 2027, exhibiting a CAGR of 8.10% during 2022-2027.
As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the purchase behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
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Veterinary healthcare refers to taking proper care of animals so as to prevent them from contracting numerous diseases. It comprises of several services and products, including antibiotics, growth promoters, vaccines, feed additives, antimicrobials, parasiticides, etc. Veterinary healthcare items are used to cater to the well-being of various food-producing and companion animals. They also help ensure a safe food supply chain by reducing the spread of zoonotic diseases. Consequently, pet and livestock owners across countries are spending extensively on veterinary healthcare products with the intention of keeping their animals productive and healthy.
The inflating demand for protein-rich food items and the elevating incidences of food-borne diseases are among the key factors driving the veterinary healthcare market. Besides this, continuous technological advancements in veterinary healthcare, such as the development of vaccine banks and efficient information management systems, are further catalyzing the market growth. Moreover, the launch of numerous favorable initiatives by government bodies, including the introduction of animal vaccination programs to optimize the veterinary sector, is also positively influencing the global market. In addition to this, the escalating production of animal-based food items and their easy availability within affordable and inexpensive price ranges are acting as significant growth-inducing factors. Furthermore, the emergence of new zoonotic disease variants and the growing concerns among livestock owners towards the same are projected to stimulate the veterinary healthcare market in the coming years.
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Competitive Landscape with Key players:
The report has also analysed the competitive landscape of the market with some of the key players being.
- Animalcare Group plc
- Boehringer Ingelheim International GmbH
- Ceva Animal Health LLC
- Dechra Pharmaceuticals PLC
- Elanco Animal Health Incorporated
- Heska Corporation
- IDEXX Laboratories Inc.
- INDICAL Bioscience GmbH (Vimian Group)
- Merck & Co. Inc.
- Norbrook Laboratories Ltd
- Vetoquinol India Animal Health Pvt Ltd (Vétoquinol S.A.)
- Zoetis Inc. (Pfizer Inc.)
Veterinary Healthcare Market Segmentation:
Our report has categorized the market based on region, product, animal type and end user.
Breakup by Product:
- Medical Feed Additives
- Immunodiagnostic Tests
- Molecular Diagnostics
- Diagnostic Imaging
- Clinical Chemistry
Breakup by Animal Type:
- Dogs and Cats
Breakup by End User:
- Veterinary Hospitals
- Veterinary Clinics
- Veterinary Laboratory Testing Services
Breakup by Region:
- North America (United States, Canada)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
Key highlights of the report:
- Market Performance (2016-2021)
- Market Outlook (2022-2027)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
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