Categories: Healthcare

Spay And Neuter Market Forecast 2024-2033: Growth Rate, Drivers, And Trends

The Spay And Neuter Global Market Report 2024 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 Spay And Neuter Global Market Report 2024, The spay and neuter market size has grown strongly in recent years. It will grow from $2.24 billion in 2023 to $2.36 billion in 2024 at a compound annual growth rate (CAGR) of 5.5%. The growth in the historic period can be attributed to pet population growth, public awareness campaigns, regulatory initiatives, veterinary advancements, animal welfare concerns, overpopulation challenges.

The spay and neuter market size is expected to see steady growth in the next few years. It will grow to $2.83 billion in 2028 at a compound annual growth rate (CAGR) of 4.7%. The growth in the forecast period can be attributed to global health concerns, expansion of mobile clinics, educational programs, government support, collaboration with nonprofits. Major trends in the forecast period include technological advancements in veterinary procedures, rise in public awareness and education, government and ngo initiatives, focus on animal welfare, innovations in sterilization methods.

An increase in pet adoption will propel the growth of the spay and neuter market going forward. Animal adoption is defined as acquiring animals through rescue groups instead of purchasing them from pet shops or breeders. Spaying and neutering are used by animals for protection against various diseases and medical conditions and from unwanted births. For instance, in 2021, according to Chewy, Inc., a US-based online retailer of pet food and other products, there were around 977,202 pets adopted in the US in 2021, which resulted in the highest adoption rate of 61% in the past six years. For another instance, in November 2022, according to a national survey of pets and people published by Animal Medicines Australia (AMA), an Australia-based industry body representing the leaders of the animal health industry in Australia, in 2022, 48% of households had dogs. According to the 2021–2022 APPA National Pet Owners Survey, 90.5 million American households, or about 70% of all houses, have a pet. Therefore, the rise in the rate of animal adoption is driving the growth of the spay and neuter market.

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The spay and neuter market covered in this report is segmented –

1) By Animal Type: Dogs, Cats, Other Animals

2) By Provider Type: Veterinary Clinics And Hospitals, Other Providers

3) By End-User: Animal Welfare Groups, Pet Owners

Product innovations are a key trend gaining popularity in the spay and neuter market. Major market players are concentrating their efforts on introducing new and advanced products to strengthen their position in the market. For instance, in July 2022, Virbac, a France-based animal health products and pharmaceuticals company launched VETERINARY HPM, which is a unique nutritional line of food products specifically for spayed and neutered pets. This line of food products is made with special resources to provide nutritional value for pets after undergoing spaying and neutering procedures.

The spay and neuter market report table of contents includes: