Dublin, June 08, 2021 (GLOBE NEWSWIRE) -- The "Animal Hospitals and Veterinary Clinics Global Market Report 2021: COVID-19 Impact and Recovery to 2030" report has been added to ResearchAndMarkets.com's offering.
The global animal hospitals and veterinary clinics market is expected to grow from $77.48 billion in 2020 to $89.38 billion in 2021 at a compound annual growth rate (CAGR) of 15.4%.
Major players in the animal hospitals and veterinary clinics services market are VCA Inc., Banfield Pet Hospital, Greencross Ltd., CVS Group Plc, Mars,and Inc.
The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges.
The market is expected to reach $110 billion in 2025 at a CAGR of 5.3%.
Many veterinary care service providers are adopting big data technologies to provide better treatment for pets, livestock and animals. This technology is used to diagnose and assess potential diseases. Big data enables veterinarians identify the diseases affecting cattle and pets in various locations and regions.
For instance, Bayer Healthcare Animal introduced applications to assess potential signs of diseases in animals, thus enabling faster diagnosis and treatment of disease conditions. Some of the major veterinary care providers opting big data analytics to treat pet health issues are VCA Inc., Banfield Pet Hospitals and Greencross Limited.
The rise in adoption of companion pets globally is driving the animal hospitals and veterinary clinics market. The key factor behind this rise in adoption is increasing humanization of pets, as an increasing number of pet owners are accepting pets as family members. According to American veterinary medical association report, there was a correlation between the degree of human/animal bond and pet spending.
According to American society for the prevention of cruelty to animals (ASPCA), In the USA, approximately 3.2 million shelter animals are adopted each year. Also, according to a study in 2018, Americans spent about $17 billion on veterinary care in hospital, clinics and food. Similarly, Chinese pet owners spent more than 5,000 yuan per pet in 2018. With this growth, the animal hospital and veterinary clinics market is expected to grow in the forecast period.
Veterinary healthcare access is relatively poor in most developing countries and some developed nations. Globally, the disease burden is significantly high in low and middle income countries. For instance, India reported approximately 63,000 veterinarians while the country required more than 150,000 veterinarians. Thus, shortage of skilled veterinarian professionals is having a negative impact on the growth of the animal hospital and veterinary clinics market.
Key Topics Covered:
1. Executive Summary
2. Animal Hospitals And Veterinary Clinics Market Characteristics
3. Animal Hospitals And Veterinary Clinics Market Trends And Strategies
4. Impact Of COVID-19 on Animal Hospitals And Veterinary Clinics
5. Animal Hospitals And Veterinary Clinics Market Size And Growth
5.1. Global Animal Hospitals And Veterinary Clinics Historic Market, 2015-2020, $ Billion
5.1.1. Drivers of the Market
5.1.2. Restraints on The Market
5.2. Global Animal Hospitals And Veterinary Clinics Forecast Market, 2020-2025F, 2030F, $ Billion
5.2.1. Drivers of the Market
5.2.2. Restraints on the Market
6. Animal Hospitals And Veterinary Clinics Market Segmentation
6.1. Global Animal Hospitals And Veterinary Clinics Market, Segmentation By Type, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
- Consultation
- Surgery
- Medicine
- Other (includes Pet food
6.2. Global Animal Hospitals And Veterinary Clinics Market, Segmentation 0, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
6.3. Global Animal Hospitals And Veterinary Clinics Market, Segmentation By Animal Type, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
- Farm Animals
- Companion Animals
7. Animal Hospitals And Veterinary Clinics Market Regional And Country Analysis
7.1. Global Animal Hospitals And Veterinary Clinics Market, Split By Region, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
7.2. Global Animal Hospitals And Veterinary Clinics Market, Split By Country, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
Companies Mentioned
- VCA Inc.
- Banfield Pet Hospital
- Greencross Ltd.
- CVS Group Plc
- Mars Inc.
- National Veterinary Care Ltd.
- Pets at Home Group Plc
- Ethos Veterinary Health
- Animart LLC
- The Bargh Memorial Animal Hospital ASPCA
- The Animal Medical Center.
- Veterinary Management Groups (VMG)
- Veterinary Practice Partners
- PetWell Partners
- Southern Veterinary Partners
- Addison Biological Laboratory Inc.
- Idexx laboratories
- Patterson Companies Inc.
- Vetronic Services Ltd
For more information about this report visit https://www.researchandmarkets.com/r/micm1j