Luton, Bedfordshire, United Kingdom, Dec. 19, 2024 (GLOBE NEWSWIRE) -- The rising prevalence of chronic diseases among both pets and livestock animals is significantly fueling the demand for enhanced veterinary care services. This surge in demand is further supported by numerous global awareness initiatives aimed at improving veterinary practices and overall animal health. For example, the Canadian Veterinary Medical Association organizes Animal Health Week annually during the first week of October, a nationwide campaign designed to educate the public about the importance of animal health. Similarly, initiatives such as the One Health Initiative, which promotes integrated healthcare standards for animals and humans, are creating broader market opportunities by addressing disease prevention, surveillance, and control efforts through collaborative approaches across clinical care, education, and research.
Access PDF Sample Report (Including Graphs, Charts & Figures) @
https://www.exactitudeconsultancy.com/reports/6625/veterinary-care-market#request-a-sample
Moreover, governmental efforts aimed at advancing veterinary care are expected to contribute to substantial market growth over the forecast period. In March 2022, the Veterinary Teaching Hospital, supported by the American Kennel Club, introduced Ella's Fund, which provides financial grants up to USD 1,100 to dog owners in need of emergency healthcare assistance for dogs with a favorable prognosis. This initiative not only helps pet owners access veterinary care but also encourages volunteerism at animal-care organizations, fostering increased funding for dog care. Such initiatives are likely to enhance the accessibility of veterinary services, further stimulating market expansion.
In addition to these awareness and government-led initiatives, the increasing adoption of dogs and the growth of the pet population are driving demand within the dog care segment. According to recent statistics from Pet Keen, by 2023, approximately 70% of U.S. households are expected to own at least one pet, with 90 million households having pets in total. Among these, 69 million households own at least one dog, and over 45 million have cats. The increasing number of dog adoptions, in particular, is expected to lead to a higher demand for dog care products and services, further propelling market growth. As the pet care industry expands, the rising trend in pet ownership will continue to play a pivotal role in shaping the future of the veterinary care market.
Veterinary Care Market Segment Analysis
The companion animals segment holds the largest revenue share of the global veterinary care market, accounting for over 60% of the total market. This growth can be attributed to a combination of factors, including increased pet ownership, rising expenditure on pet healthcare, and expanding market initiatives to promote pet wellness. The increasing demand for effective monitoring and diagnostic services, coupled with a heightened awareness of the epidemiology and pathogenesis of diseases in companion animals, has led organizations like the European Scientific Council Companion Animal Parasites and the Companion Animal Parasite Council to implement more proactive measures in pet healthcare.
Within the companion animal segment, the primary care category dominates with a significant share of over 58%. This category encompasses a wide array of services, including physical examinations, immunizations, laboratory testing, parasite prevention, diagnostic testing, behavioral counseling, food, dental health, and cleaning. The rise in the number of rabies-related deaths and the growing number of vaccination programs are expected to drive growth within this segment, particularly in the context of domestic dogs, which account for more than 99% of rabies transmissions to humans. Diagnostic services are also a key contributor to market growth, with an increasing demand for fast tests and portable point-of-care (POC) devices.
In addition to companion animals, the veterinarian care services for production animals represent a significant portion of the market. Policymakers in many countries are focusing on food security, which has led to greater emphasis on large-scale food production and improved animal rearing practices. According to the Food and Agriculture Organization, animal-based food products account for approximately one-third of human protein intake in emerging countries, contributing to increased livestock productivity. As a result, the production animal sector continues to capture a substantial share of the global veterinary care market.
Looking ahead, livestock species such as cattle and poultry are expected to receive the most medical attention. The veterinary care market's animal type sector is categorized into dogs, cats, pigs, poultry, cattle, and horses, with cattle and poultry projected to experience increased medicalization in the coming years. Previously, poultry health in economies like the Philippines and Vietnam was often overlooked, leading to the widespread culling of poultry during viral outbreaks. However, changing regulations and heightened awareness are driving improvements in animal welfare and medicalization rates across the region, especially in unorganized farms that were once neglected.
The veterinary care market is also divided into three categories based on the type of treatment: non-medicalization, basic medicalization, and full veterinary care. The percentage of non-medicalized animals is expected to continue declining due to increased awareness among both farm and pet owners. Government efforts to improve animal welfare and promote higher standards of veterinary care have also contributed to the reduction in non-medicalized animals, which further supports industry growth.
In terms of regional growth, the Latin American veterinary care market is expected to expand significantly over the forecast period. Countries like Brazil and Argentina have demonstrated strong demand for veterinary products and services, and several major veterinary companies are eyeing expansion opportunities in the region. The growing livestock population, coupled with an increase in pet ownership and heightened focus on animal health and welfare, positions Latin America as a key growth market for the global veterinary care industry. As the region continues to develop, it is expected to be a major driver of global veterinary care market expansion.
Browse full Report - https://www.exactitudeconsultancy.com/reports/6625/veterinary-care-market
Key Players:
- Zoetis
- Merck
- Boehringer Ingelheim (Germany)
- Elanco (US)
- Ceva (France)
- Phibro Animal Health Corporation (US)
- Virbac SA (France)
- IDEXX Laboratories, Inc.
- Neogen Corporation (US)
- Heska Corporation (US)
- Bayer AG (Germany)
- Cargill, Incorporated (US)
- Vetoquinol (France)
- Dechra Pharmaceuticals (UK)
- Merial (part of Boehringer Ingelheim)
- Land O'Lakes, Inc. (US)
- Royal DSM (Netherlands)
- Alltech (US)
- Pharmgate Animal Health (US)
- Hill’s Pet Nutrition (US)
- Nutreco (Netherlands)
- Merck Animal Health (US)
Latin America Veterinary Care Industry Growth Prospects
The Latin American veterinary care industry is projected to experience substantial growth in the coming years, driven by increasing demand for animal health products and services. Over the past few years, countries such as Brazil and Argentina have emerged as key markets, showing strong potential for the expansion of veterinary care solutions. The region's growing livestock and companion animal populations, coupled with a rise in pet ownership, are key drivers of this demand.
The expansion of veterinary care in Latin America is further fueled by increasing awareness of animal health, rising disposable incomes, and the adoption of advanced veterinary practices. Furthermore, the region's growing focus on food safety and quality assurance, along with a stronger emphasis on animal welfare, are contributing to the market’s rapid growth. As a result, several major veterinary care companies have recognized the immense opportunities in this market, leading to significant investments and expansions across the region.
In particular, Brazil, with its large agricultural sector, continues to lead the Latin American veterinary care market, thanks to its extensive livestock population, including cattle, poultry, and swine. Argentina, also a key player in the region, benefits from rising demand for veterinary care driven by its expanding animal agriculture industry and growing interest in companion animal health. Together, these countries are poised to dominate the regional veterinary care market, with key international players increasingly targeting these high-growth markets for expansion. As the region's veterinary sector develops, the adoption of digital health technologies, such as telemedicine and diagnostic innovations, is expected to further propel market growth.
Market Segmentation:
By Animal Type
- Dogs
- Cats
- Cattle
- Pigs
- Horses
- Poultry
By Medicalization Type
- No medicalization
- Basic Medicalization
- Veterinary Care
By Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
Recent Developments of Veterinary Care industry
- In April 2021, Boehringer Ingelheim announced the acquisition of a portfolio of vaccines and related technologies from the animal health division of Bayer. This acquisition allows Boehringer Ingelheim to strengthen its position in the animal health market by expanding its vaccine offerings and increasing its market share globally.
- In December 2020, Elanco Animal Health acquired VetStream, a leading digital content provider in the veterinary market. This acquisition aims to improve Elanco's digital capabilities and offers a wide range of educational and practical resources to veterinarians, enhancing the customer experience and expanding their digital presence.
- In March 2021, Ceva Santé Animale announced a strategic partnership with the University of California, Davis, to advance veterinary research and diagnostics. The partnership is aimed at improving animal health through cutting-edge research and developing innovative diagnostic tools for better treatment outcomes.
- In August 2021, IDEXX Laboratories, Inc. launched the IDEXX Telemedicine Consulting service for veterinary practices. This service allows veterinary clinics to offer remote consultations, enhancing their service delivery, increasing accessibility for pet owners, and improving patient outcomes.
- In January 2021, Virbac SA launched a new line of parasite control products for pets in Europe and North America. These products aim to provide comprehensive solutions for the prevention and treatment of external and internal parasites, addressing an increasing demand in the companion animal healthcare market.
- In October 2020, Heska Corporation announced the acquisition of a veterinary diagnostic laboratory, Specialty Laboratories. This acquisition strengthens Heska's diagnostic portfolio and expands its capabilities in the clinical diagnostics market, enhancing its position in the veterinary care industry.
This report is also available in the following languages: Japanese (獣医ケア市場), Korea (수의학 치료 시장), china (兽医护理市场), French (Marché des soins vétérinaires), German (Markt für tierärztliche Versorgung), and Italy (Mercato della cura veterinaria), etc.
Get a Free Sample copy (PDF): https://www.exactitudeconsultancy.com/reports/6625/veterinary-care-market#request-a-sample
More Related Reports:
Animal Pharmaceuticals Market
https://www.exactitudeconsultancy.com/reports/40922/animal-pharmaceuticals-market
The global animal pharmaceuticals market size is projected to grow from USD 58.75 billion in 2023 to USD 84.33 billion by 2030, exhibiting a CAGR of 5.3% during the forecast period.
Dog Food Market
https://www.exactitudeconsultancy.com/reports/36902/dog-food-market
The global Dog Food market is anticipated to grow from USD 87.57 Billion in 2023 to USD 170.65 Billion by 2030, at a CAGR of 12 % during the forecast period.
Pet Stem Cells Market
https://www.exactitudeconsultancy.com/reports/32841/pet-stem-cells-market
The global pet stem cells market is anticipated to grow from USD 3.29 Billion in 2023 to USD 4.68 Billion by 2030, at a CAGR of 5.16% during the forecast period.
Anti-explosion Electronic Weighing Scale Market
https://www.exactitudeconsultancy.com/reports/30985/anti-explosion-electronic-weighing-scale-market
The global Anti-explosion Electronic Weighing Scale Market is anticipated to grow from USD 8.7 Billion in 2023 to USD 13.08 Billion by 2030, at a CAGR of 6% during the forecast period.
Companion Animal Diagnostics Market
https://www.exactitudeconsultancy.com/reports/28887/companion-animal-diagnostics-market
The global companion animal diagnostics market is expected to grow at 9.2% CAGR from 2020 to 2029. It is expected to reach above 5.56 USD billion by 2029 from 2.76 USD billion in 2020.
X-Ray Detector Market
https://www.exactitudeconsultancy.com/reports/28109/x-ray-detector-market
The X-ray detector market is expected to grow at 5.9% CAGR from 2022 to 2029. It is expected to reach above USD 4.69 billion by 2029 from USD 2.8 billion in 2020.
Veterinary Surgical Instruments Market
https://www.exactitudeconsultancy.com/reports/24123/veterinary-surgical-instruments-market
The veterinary surgical instruments market is expected to grow at a 5.8% CAGR between 2022 and 2029. It is expected to be worth more than USD 1.53 billion by 2029, up from USD 1.03 billion in 2022.
Animal Wound Care Market
https://www.exactitudeconsultancy.com/reports/12586/animal-wound-care-market
The global animal wound care market is projected to reach USD 1.85 billion by 2029 from USD 1.00 billion in 2022, at a CAGR of 7.1% from 2023 to 2029.
Ablation Laser Systems Market
https://www.exactitudeconsultancy.com/reports/12237/ablation-laser-systems-market
The global Ablation Laser Systems Market is expected to grow at 10.3% CAGR from 2023 to 2029. It is expected to reach above USD 5.23 billion by 2029 from USD 2.4 billion in 2022.
Digital Pathology Market
https://www.exactitudeconsultancy.com/reports/7876/digital-pathology-market
The global digital pathology market is expected to grow at 13.1% CAGR from 2022 to 2029. It is expected to reach above USD 1.97 billion by 2029 from USD 0.65 billion in 2020.
Animal/Veterinary Ultrasound Market
https://www.exactitudeconsultancy.com/reports/1264/animal-veterinary-ultrasound-market
The global animal/veterinary Ultrasound market is expected to grow at more than 6.60% CAGR from 2019 to 2028. It is expected to reach above USD 458.4 million by 2028 from a little above USD 256 million in 2019.
