Insurance Services Aiding Pet Owners

Posted by praneeth on December 19th, 2018

The global veterinary services market, a part of the healthcare industry, grew at a compound annual growth rate (CAGR) of around 6% during the historic period. The healthcare industry showed a steady growth. The growth is mainly due to the increased pet ownership in emerging markets led to an increase in the use of veterinary healthcare services

In the forecast period, the global veterinary services market size is expected to be over 0 billion by 2021, growing at a CAGR of nearly 7%. This is expected due to more stringent livestock regulations. Regulations surrounding the maintenance of cattle and livestock are increasing the demand for veterinary services. Furthermore, rising population, increase in dispensable income, and increasing per capita incomes are expected to drive the global veterinary services market in the future. 

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In developed markets the pet insurance industry is offering new product lines for veterinary services. The insurance cover helps pet owners to explore a range of treatment options, ensuring better healthcare of animals. Major companies in the veterinary services market, offering Insurance Services include VCA, Banfield Pet Hospital, Green cross Limited, The Bergh Memorial Animal Hospital, The Animal Medical Center.

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