The Animal Hospitals And Veterinary Clinics by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Animal Hospitals And Veterinary Clinics, The animal hospitals and veterinary clinics market size has grown strongly in recent years. It will grow from $113.97 billion in 2023 to $121.79 billion in 2024 at a compound annual growth rate (CAGR) of 6.9%. The growth in the historic period can be attributed to increased penetration of pet insurance, increased spending on pets, rise in animal healthcare expenditure and increased pet population.
The animal hospitals and veterinary clinics market size is expected to see strong growth in the next few years. It will grow to $157.88 billion in 2028 at a compound annual growth rate (CAGR) of 6.7%. The growth in the forecast period can be attributed to increasing pet ownership, increasing consumption of animal-derived products, supportive government initiatives and increasing disease prevalence among animals. Major trends in the forecast period include launch of mobile veterinary units, introduction of electronic health records use of artificial intelligence in animal care, development of new screening tests for animals and increasing emphasis on e-commerce in the pet care industry.
The rise in the adoption of companion pets globally is driving the animal hospitals and veterinary clinics market. The key factor behind this rise in adoption is the increasing humanization of pets, as an increasing number of pet owners are accepting pets as family members. According to the American Veterinary Medical Association report, there was a correlation between the degree of human-animal bond and pet spending. According to the 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, Americans spent about $17 billion on veterinary care in hospitals, clinics, and food. Similarly, Chinese pet owners spent more than 5,000 yuan per pet. With this growth, the animal hospital and veterinary clinic market is expected to grow in the forecast period.
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The animal hospitals and veterinary clinics market covered in this report is segmented –
1) By Type: Consultation, Surgery, Medicine, Other Types
2) By Animal Type: Livestock, Companion Animals
3) By End-User: Animal Care, Animal Rescue, Other End Users
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 to 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 for big data analytics to treat pet health issues are VCA Inc., Banfield Pet Hospitals, and Greencross Limited.
The animal hospitals and veterinary clinics market report table of contents includes:
1. Executive Summary
2.Animal Hospitals And Veterinary Clinics Market Characteristics
3.Animal Hospitals And Veterinary Clinics Market Trends And Strategies
4.Animal Hospitals And Veterinary Clinics Market analysis
5.Animal Hospitals And Veterinary Clinics Market Size And Growth
6.Animal Hospitals And Veterinary Clinics Segmentation
7.Animal Hospitals And Veterinary Clinics Regional And Country Analysis
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27.Animal Hospitals And Veterinary Clinics Competitive Landscape And Company Profiles
28. Animal Hospitals And Veterinary Clinics Key Mergers And Acquisitions
29. Animal Hospitals And Veterinary Clinics Future Outlook and Potential Analysis
TOP MAJOR PLAYERS:
- Mars Inc.
- National Veterinary Associates Inc.
- CVS Group PLC
- Apiam Animal Health Limited
- Medivet Group Limited
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