Veterinary services market
Veterinary Services Market, By Service (Surgery, Diagnostic Tests and Imaging, Physical Health Monitoring, and Other Services), By Animal Type (Companion Animal and Farm Animal), and By Region (North America, Latin America. Europe, Asia Pacific, Middle East, and Africa) - Size, Share, Outlook, and Opportunity Analysis, 2022 - 2028
- Jun 2022
- CMI5050
- 162 Pages
- Excel & Pdf
- Healthcare IT
Veterinary services means a development used for the care and treatment of all animals where veterinary services mainly include outpatient care and minor medical procedures involving hospitalization of less than four days. Today's veterinarians work hard to address the health and welfare needs of every species of animal. Veterinary medicine is a medical specialty that deals with the diagnosis, prevention, and treatment of diseases affecting the health of both domestic and wild animals and with the prevention of transmission of animal diseases to people.
Veterinary services fall into four main categories, such as provision of drugs, vaccines, and other products, preventive services (avoiding disease outbreaks), clinical services (treatment of diseased animals and control of production limiting disorders), and human health protection (inspection of marketed animal products).
Market Statistics:
The global veterinary services market was valued at US$ 92,238.4 Mn in 2020 and is forecast to reach a value of US$ 157,399.8 Mn by 2028 at a CAGR of 6.9% between 2021 and 2028.
North America held dominant position in the global veterinary services market in 2020, accounting for 47.7% share in terms of volume, followed by Europe and Asia Pacific, respectively.
Figure 1. Global Veterinary Services Market Share (%), by Region, 2020
Recent Developments:
In August 2021, Ethos and National Veterinary Associates collaborated to develop advanced veterinary medicines for patients and their families, as well as to enhance service offerings with advancements in medical care.
In May 2020, Greencross Vets announced the launch of a 24/7 online consultation platform for pets known as WebVet to reach out to more pet owners.
In August 2019, Ethos Discovery launched a program to cure splenic hemangiosarcoma in dog through its program, called Ethos Precision Medicine Umbrella Study for Hemangiosarcoma (ePUSH).
Veterinary Services Market Report Coverage
Report Coverage | Details | ||
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Base Year: | 2020 | Market Size in 2021: | US$ 98,556.8 Mn |
Historical Data for: | 2017 to 2020 | Forecast Period: | 2021 to 2028 |
Forecast Period 2022 to 2028 CAGR: | 6.9% | 2028 Value Projection: | US$ 157,399.8 Mn |
Geographies covered: |
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Segments covered: |
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Companies covered: |
Mars Inc., CVS Group PLC, Greencross Vets, Ethos Veterinary Health, Idexx Laboratories Inc., Pets at Home Group PLC, CityVet Inc., FirstVet, Kremer Veterinary Services, and Armor Animal Health (Animart), among others |
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Growth Drivers: |
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Restraints & Challenges: |
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Market Drivers:
- Growing awareness for pet health and rising demand for effective medical care is expected to boost growth of the global veterinary services market over the forecast period. For instance, the Federation of Indian Animal Protection Organisation (FIAPO) has been working to ensure welfare of animals in India by partnering with several animal rights protection organisations and activists in the country. Moreover, the federation has been tackling a wide range of animal welfare issues through awareness campaigns and lobbying.
- Increasing prevalence of various diseases in animals or zoonotic diseases is also expected to propel growth of the global veterinary services market during the forecast period. For instance, according to the Centers for Disease Control and Prevention (CDC), Zoonotic diseases are very common, both in the United States and around the world. Scientists estimate that more than 6 out of every 10 known infectious diseases in people can be spread from animals, and 3 out of every 4 new or emerging infectious diseases in people come from animals.
Figure 2. Global Veterinary Services Market Share (%) in Terms of Value, by Animal Type, 2021
Market Restraints:
- High cost of veterinary services and shortage of skilled personnel is expected to hamper the growth of the global veterinary services market. The cost of diagnostic imaging equipment and veterinary drugs is high, which has led to the high cost of veterinary services.
- Lack of awareness in developing or under-developed economies is expected to hinder growth of the global veterinary services market. For instance, cats and dogs are the two most common household companion animals that can be direct or indirect source of zoonotic infections.
Market Opportunities:
- Emergence of COVID-19 across the globe is expected to offer lucrative growth opportunities for players in the veterinary services market. For instance, in May 2020, Humane Society International/Canada and Friends of HSI have launched COVID-19 Animal Response Program in Quebec in collaboration with the City of Montreal, with the generous support of PetSmart Charities of Canada. The program will provide critical assistance to families and individuals in urgent need of help in caring for their companion animals during this crisis.
- Increasing demand for veterinary services across the globe is expected to provide significant growth opportunities for players in the veterinary services market. For instance, in February 2021, DCC (Dogs, Cats, & Companions) Animal Hospital expanded its footprint in India with the launch of multi-speciality animal hospitals across the country to offer cutting-edge medical technologies for our four-legged friends.
Market Trends/Key Takeaways:
- Favorable initiatives by governments and market players to provide veterinary services are expected to drive growth of the global veterinary services market. For instance, in May 2020, Ministry of Fisheries, Animal Husbandry & Dairying, Government of India, launched mobile veterinary units (MVUs) in order to provide veterinary services at the farmers’ doorstep. The overall aim of the ‘Livestock Health & Disease Control programme’ of Government of India is to improve animal health.
- Introduction of novel products or services by market players is expected to aid in the growth of the global veterinary services market. For instance, in June 2022, PetSmart announced the launch of PetSmart Veterinary Services (PVS) to provide a complete solution for veterinarians to open their own franchised practice and connects pet parents with local, trusted veterinarians and more convenient vet hospital locations within PetSmart stores.
Competitive Landscape:
- 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.
Table of Contents:
- Research Objectives and Assumptions
- Research Objectives
- Assumptions
- Abbreviations
- Market Purview
- Report Description
- Market Definition and Scope
- Executive Summary
- Market Hospital Information System, By Service
- Market Hospital Information System, By Animal Type
- Market Hospital Information System, By Geography
- Coherent Opportunity Map (COM)
- Report Description
- Market Dynamics, Regulations, and Trends Analysis
- Market Dynamics
- Increasing demand for veterinary services
- High cost of veterinary services
- Emergence of COVID-19 (global pandemic)
- Impact Analysis
- Key Highlights
- Regulatory Scenario
- Product launch/Approvals
- PEST Analysis
- PORTER’s Analysis
- Merger and Acquisition Scenario
- Market Dynamics
- Veterinary Services Market – Impact of Coronavirus (COVID-19) Pandemic
- COVID-19 Epidemiology
- Supply Side and Demand Side Analysis
- Economic Impact
- Veterinary Services Market, By Service, 2017-2028, (US$ Mn)
- Introduction
- Market Share Analysis, 2022 and 2030 (%)
- Y-o-Y Growth Analysis, 2017 - 2028
- Segment Trends
- Surgery
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2017 - 2028,(US$ Mn)
- Diagnostic Tests and Imaging
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2017 - 2028,(US$ Mn)
- Physical Health Monitoring
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2017 - 2028,(US$ Mn)
- Introduction
- Veterinary Services Market, By Animal Type, 2017-2028, (US$ Mn)
- Introduction
- Market Share Analysis, 2022 and 2030 (%)
- Y-o-Y Growth Analysis, 2017 - 2028
- Segment Trends
- Companion Animal
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2017 - 2028,(US$ Mn)
- Farm Animal
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2017 - 2028,(US$ Mn)
- Introduction
- Veterinary Services Market, By Region, 2017 - 2028, (US$ Mn)
- Introduction
- Market Share Analysis, 2022 and 2030 (%)
- Y-o-Y Growth Analysis, 2017 - 2028
- Segment Trends
- North America
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, By Product Type, 2017 - 2028,(US$ Mn)
- Market Size and Forecast, and Y-o-Y Growth, By End User, 2017 - 2028,(US$ Mn)
- Europe
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, By Product Type, 2017 - 2028,(US$ Mn)
- Market Size and Forecast, and Y-o-Y Growth, By End User, 2017 - 2028,(US$ Mn)
- Asia Pacific
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, By Product Type, 2017 - 2028,(US$ Mn)
- Market Size and Forecast, and Y-o-Y Growth, By End User, 2017 - 2028,(US$ Mn)
- Latin America
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, By Product Type, 2017 - 2028,(US$ Mn)
- Market Size and Forecast, and Y-o-Y Growth, By End User, 2017 - 2028,(US$ Mn)
- Middle East and Africa
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, By Product Type, 2017 - 2028,(US$ Mn)
- Market Size and Forecast, and Y-o-Y Growth, By End User, 2017 - 2028,(US$ Mn)
- Rest of World
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, By Product Type, 2017 - 2028,(US$ Mn)
- Market Size and Forecast, and Y-o-Y Growth, By End User, 2017 - 2028,(US$ Mn)
- Introduction
- Competitive Landscape:
- CVS Group PLC
- Company Highlights
- Product Portfolio
- Key Developments
- Financial Performance
- Strategies
- Ethos Veterinary Health
- Company Highlights
- Product Portfolio
- Key Developments
- Financial Performance
- Strategies
- Greencross Vets
- Company Highlights
- Product Portfolio
- Key Developments
- Financial Performance
- Strategies
- Idexx Laboratories Inc.
- Company Highlights
- Product Portfolio
- Key Developments
- Financial Performance
- Strategies
- Mars Inc.
- Company Highlights
- Product Portfolio
- Key Developments
- Financial Performance
- Strategies
- Pets at Home Group PLC
- Company Highlights
- Product Portfolio
- Key Developments
- Financial Performance
- Strategies
- Armor Animal Health (Animart)
- Company Highlights
- Product Portfolio
- Key Developments
- Financial Performance
- Strategies
- Kremer Veterinary Services
- Company Highlights
- Product Portfolio
- Key Developments
- Financial Performance
- Strategies
- FirstVet AB
- Company Highlights
- Product Portfolio
- Key Developments
- Financial Performance
- Strategies
- CityVet Inc.
- Company Highlights
- Product Portfolio
- Key Developments
- Financial Performance
- Strategies
- Analyst Views
- CVS Group PLC
- Section
- Research Methodology
- About us
*Browse 24 market data tables and 28 figures on “Veterinary Services Market” - Global forecast to 2028
Detailed Segmentation:
- Global Veterinary Services Market, By Service:
- Surgery, Diagnostic Tests and Imaging
- Physical Health Monitoring
- Other Services
- Global Veterinary Services Market, By Animal Type:
- Companion Animal
- Farm Animal
- Global Veterinary Services Market, By Region:
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East
- Africa