Veterinary Healthcare Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Veterinary Healthcare Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

The global veterinary healthcare market size reached US$ 40.2 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 64.0 Billion by 2028, exhibiting a growth rate (CAGR) of 7.75% during 2023-2028.

Veterinary healthcare refers to a subset of science that deals with the diagnosis, treatment, and prevention of various diseases in animals to expand their lifespan. It involves several services, including regular monitoring of animal health and deployment of medicated animal feeds, diagnostic products, drugs, and vaccines for limiting the spread of zoonotic diseases amidst animals and people. These amenities are extensively provided by the sole traders, pharmacies, veterinary hospitals, clinics, and laboratory testing services. At present, veterinary healthcare facilities are available for both companions and livestock animals.

Veterinary Healthcare Market Trends:
The global veterinary healthcare market is majorly being driven by the increasing prevalence of various zoonotic, food-borne, and chronic diseases, such as cancer, especially amongst cats and dogs. This is further supported by the emerging trend of pet humanization and the increasing concerns of pet owners toward animal health, which, in turn, is facilitating the demand for preventive and more sophisticated veterinary services and therapeutic and diagnostics treatments. In line with this, significant technological advancements, such as the introduction of veterinary health information systems for efficient data management, is acting as another growth-inducing factor. These devices assist in diagnosing animal health, facilitating real-time analysis of disease fluctuations, recording information on cloud-based platforms, and sharing essential veterinary clinic-generated data with clinicians and researchers directly through the internet. Moreover, the availability of favorable medical reimbursement policies and the extensive investments by the governments of various countries for implementing animal vaccination programs is contributing to the market growth. Apart from this, strategic collaborations amongst key players to launch various veterinary health products in distinctive flavors and taste, along with their easy availability across different online and offline distribution channels are further stimulating the market growth.

Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global veterinary healthcare market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on product, animal type and end user.

Breakup by Product:
Therapeutics
Vaccines
Parasiticides
Anti-Infectives
Medical Feed Additives
Others
Diagnostics
Immunodiagnostic Tests
Molecular Diagnostics
Diagnostic Imaging
Clinical Chemistry
Others

Breakup by Animal Type:

Dogs and Cats
Horses
Ruminants
Swine
Poultry
Others

Breakup by End User:

Veterinary Hospitals
Veterinary Clinics
Veterinary Laboratory Testing Services
Others

Breakup by Region:

North America
United States
Canada
Asia-Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa

Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players being Animalcare Group plc, Boehringer Ingelheim International GmbH (C. H. Boehringer Sohn AG & Co. KG), 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.), Virbac and Zoetis Inc. (Pfizer Inc.).

Key Questions Answered in This Report:
How has the global veterinary healthcare market performed so far and how will it perform in the coming years?
What has been the impact of COVID-19 on the global veterinary healthcare market?
What are the key regional markets?
What is the breakup of the market based on the product?
What is the breakup of the market based on the animal type?
What is the breakup of the market based on the end user?
What are the various stages in the value chain of the industry?
What are the key driving factors and challenges in the industry?
What is the structure of the global veterinary healthcare market and who are the key players?
What is the degree of competition in the industry?