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

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

The global veterinary service market size reached US$ 107.5 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 148.7 Billion by 2028, exhibiting a growth rate (CAGR) of 5.15% during 2023-2028.

A veterinary service is utilized in the surveillance, early diagnosis, and treatment of animal diseases, zoonoses, and foodborne zoonotic hazards. It relies on veterinary medicinal products, such as antimicrobial agents, to minimize the likelihood of non-compliance concerning veterinary drug residues in food of animal origin and the development of antimicrobial resistance (AMR). Besides this, it assists in increasing awareness about food producers, processors and distributors, and addressing animal production food safety.

Veterinary Service Market Trends:
With the rising number of human pathogens originating in animals, veterinary services are presently becoming increasingly essential for protecting animals, safeguarding public health, and ensuring food safety. This, in confluence with the increasing adoption of companion animals around the world, represents one of the key factors stimulating the growth of the market. Moreover, governments of numerous countries are relaxing the telemedicine and veterinarian-client-patient relationship (VCPR) regulations on account of the coronavirus disease (COVID-19) outbreak and making telemedicine available to pet parents. It is utilized in veterinary for postoperative checks, dermatologic concerns, behavioral issues, and scheduled follow-up visits for pets with chronic diseases, thereby allowing veterinarians to prescribe the treatment without the direct examination of pets. This, coupled with recent expansions in pet services, including online pet pharmacies and food and product delivery via subscription services, is impelling the market growth. Apart from this, advances in animal health biotechnologies, such as vaccines, antimicrobials, and diagnostic tools, for minimizing the burden of diseases and improving the standards of animal health and welfare are positively influencing the market. In addition, significant growth in the livestock sector is projected to create a positive outlook for the market in the upcoming years.

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

Breakup by Service:

Surgery
Diagnostic Tests and Imaging
Physical Health Monitoring
Others

Breakup by Animal Type:

Companion Animal
Farm Animal

Breakup by End Use:

Veterinary Clinic
Veterinary Hospital

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 Addison Biological Laboratory Inc., Armor Animal Health, CityVet, CVS Group PLC, Elanco Animal Health Incorporated, Ethos Veterinary Health LLC, FirstVet, Greencross Vets, Heska Corporation, Idexx Laboratories Inc., Intervet Inc. (Merck & Co. Inc.), PetIQ LLC and Pets at Home Group PLC.

Key Questions Answered in This Report:
How has the global veterinary service 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 service market?
What are the key regional markets?
What is the breakup of the market based on the service?
What is the breakup of the market based on the animal type?
What is the breakup of the market based on the end use?
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 service market and who are the key players?
What is the degree of competition in the industry?