The Veterinary Healthcare 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 (2011-2022) and extends its insights into a ten-year forecast period (2024-2033).
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According to The Business Research Company’s Veterinary Healthcare Global Market Report 2024, The veterinary healthcare market size has grown strongly in recent years. It will grow from $192.55 billion in 2023 to $206.49 billion in 2024 at a compound annual growth rate (CAGR) of 7.2%. The growth in the historic period can be attributed to the increase in pet ownership, zoonotic diseases, livestock industry growth, regulatory compliance, .
The veterinary healthcare market size is expected to see strong growth in the next few years. It will grow to $270.68 billion in 2028 at a compound annual growth rate (CAGR) of 7.0%. The growth in the forecast period can be attributed to one health approach, telemedicine and remote consultations, personalized medicine for pets, emerging markets growth, genomic medicine. Major trends in the forecast period include preventive healthcare, pet insurance, nutraceuticals for pets, animal rehabilitation and physical therapy, environmental sustainability.
Global meat production is expected to rise in the forecast period, supporting the growth of the veterinary healthcare market. According to the US Department of Agriculture, in 2020, the beef production in the USA reached 27.5 billion pounds, the highest production volume registered in the country. Rising meat production is especially prominent in developing countries such as China, India, and Brazil, where increasing populations and rising income levels are stimulating the demand for meat products. By 2027, the production of meat and poultry in emerging markets is expected to increase by 76%. By 2050, China’s meat imports are expected to grow by over 3,500% to $150 billion as consumption of chicken, pork, and beef will surge due to the country’s rising middle class. The rising production of meat products supported by the growing population will increase the demand for feed additives in the livestock industry, driving the veterinary healthcare market.
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The veterinary healthcare market covered in this report is segmented –
1) By Type: Veterinary Services; Veterinary Medical Equipment; Animal Medicine
2) By Animal Type: Dogs and Cats; Horses; Ruminants; Swine; Poultry; Other Animals
3) By Product: Instruments/Equipment; Disposables
Subsegments Covered: Animal Hospitals And Veterinary Clinics; Veterinary Laboratory Testing Services; Veterinary Diagnostic Equipment; Veterinary Anesthesia Equipment; Veterinary Patient Monitoring Equipment; Other Veterinary Medical Equipment; Veterinary Pharmaceuticals; Feed Additives
The veterinary healthcare market report table of contents includes:
- Executive Summary
- Veterinary Healthcare Market Characteristics
- Veterinary Healthcare Product/Service Analysis -Product/Service Examples
- Veterinary Healthcare Market Trends And Strategies
- Veterinary Healthcare Market – Macro Economic Scenario
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- Global Veterinary Healthcare Market Competitive Benchmarking
- Global Veterinary Healthcare Market Competitive Dashboard
- Key Mergers And Acquisitions In The Veterinary Healthcare Market
- Veterinary Healthcare Market Future Outlook and Potential Analysis
- Appendix
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