How much is the Veterinary Care Market worth?

Posted by Johnny on July 21st, 2022

Industry Overview:

Government authorities collaborate with veterinarians and develop plans that assure the availability of optimal inventory on farms to treat farm animals. Furthermore, the growth of the veterinary care market can be tracked on the basis of animal health product consumption.

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Latin America animal health market is expected to reach USD 9 billion by 2025 from USD 5.2 billion in 2018, at a CAGR of 7.3% during the forecast period.

By treatment type, the basic medicalization segment is expected to foresee considerable growth during the forecast period.

Based on treatment type, the veterinary care market has been segmented into non-medicalized, basic medicalization, and under veterinary care. Amongst the treatment type category, the basic medicalization segment will have significant growth. The segment growth is attributable to the rising awareness regarding the pet as well as farm owners regarding animal preventive health.

By animal type, dogs will receive maximum preventive health

Based on animal type, the veterinary care market has been segmented into dogs, cats, horses, cattle, pigs, and poultry. Dogs amongst the other companion animals are predicted to receive the utmost preventive as well as the long term veterinary care. Pet owners in developed and developing regions often consider pets as their companions and, therefore, provide them with necessary medicalization.

Eastern European countries have positive veterinary care trends throughout the forecast years

European countries experience positive trends regarding veterinary care since the animal owners follow all the animal welfare laws and regulations sincerely. The regional growth can also be associated with the increasing number of veterinarians and clinics in European countries.

The prominent players in the veterinary care market include Zoetis (US), Merck (US), Boehringer Ingelheim (Germany), Elanco (US), Ceva (France), Phibro Animal Health Corporation (US), Virbac SA (France), IDEXX Laboratories, Inc., Neogen Corporation (US), Heska Corporation (US) and others. These players have undertaken several initiatives to capture significant market share.

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Market Segmentation

The research report categorizes the market into the following segments and subsegments:

By Animal Type

By Medicalization Type

By Country/Region

  • Europe
  • Asia Pacific
  • Latin America
  • Africa

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Johnny

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Johnny
Joined: July 19th, 2022
Articles Posted: 130

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