According to the report by Expert Market Research (EMR), the global veterinary healthcare market size is projected to grow at a CAGR of 8.4% between 2024 and 2032. Aided by the increasing pet ownership, the rising demand for animal-derived food products, and the growing focus on animal health, the market is expected to grow significantly by 2032.
Veterinary healthcare encompasses a wide spectrum of services, products, and technologies dedicated to the maintenance of animal health, the treatment of animal diseases, and the enhancement of the quality of life for animals. This sector plays a crucial role in ensuring the health of pets, livestock, and other animals, directly impacting public health, food safety, and the agricultural economy.
The primary growth driver of the veterinary healthcare market demand is the increase in pet ownership globally. The rising number of pet owners, coupled with the growing awareness of pet health and wellbeing, has significantly driven the demand for veterinary services, pharmaceuticals, and vaccines.
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Another critical factor is the escalating consumption of animal-derived food products. As the global population grows, so does the demand for meat, milk, eggs, and other animal products, necessitating a greater focus on the health and productivity of livestock. This has led to increased investment in animal healthcare, particularly in the prevention and treatment of diseases that can impact food safety and animal productivity.
Technological advancements in veterinary healthcare, such as telemedicine, wearables for animals, and improved diagnostics, have also contributed to the veterinary healthcare market growth. These technologies enable better monitoring, early disease detection, and more efficient treatment options for animals.
The veterinary healthcare sector caters to a broad range of applications, including companion animals (pets) and livestock (cattle, poultry, swine, etc.). In companion animal healthcare, the focus is on preventive care, diagnostics, and treatment of diseases, including the use of vaccines, pharmaceuticals, and medical devices.
For livestock, veterinary healthcare is crucial in ensuring the health of animals that are integral to the food supply chain. This includes disease prevention, nutrition management, and reproductive health. Moreover, ensuring the health of livestock plays a significant role in preventing zoonotic diseases – illnesses that can be transmitted from animals to humans.
North America holds a significant portion of the veterinary healthcare market share, attributed to the high pet ownership rates, advanced healthcare infrastructure, and the presence of major market players. Europe follows, with a well-established animal health sector.
Veterinary Healthcare Market Segmentation
The market can be divided based on product, animal type, and region.
Market Breakup by Product
- Therapeutics
- Vaccines
- Parasiticides
- Anti-infectives
- Medical Feed Additives
- Others
- Diagnostics
- Immunodiagnostic Tests
- Molecular Diagnostics
- Diagnostic Imaging
- Clinical Chemistry
- Others
Market Breakup by Animal Type
- Dogs and Cats
- Horses
- Ruminants
- Swine
- Poultry
- Others
Market Breakup by Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
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Competitive Landscape of Veterinary Healthcare Market
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the global veterinary healthcare market. Some of the major players explored in the report by Expert Market Research are as follows:
- Elanco Animal Health
- CEVA SANTE ANIMALE
- Vetoquinol S.A.
- Zoetis Inc.
- Boehringer Ingelheim International GmbH.
- BioChek Group
- Others
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