According to IMARC Group latest report titled “Veterinary Healthcare Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2024-2032”, offers a comprehensive analysis of the industry, which comprises insights on veterinary healthcare market size. The report also includes competitor and regional analysis, and contemporary advancements in the global market.
The global veterinary healthcare market size reached US$ 43.3 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 80.6 Billion by 2032, exhibiting a growth rate (CAGR) of 7% during 2024-2032.
Veterinary healthcare pertains to the specialized medical discipline focused on the prevention, diagnosis, and treatment of diseases, disorders, and injuries in animals. These healthcare products range from vaccines and pharmaceuticals to diagnostic equipment and feed additives. The defining characteristic of these products is their designed efficacy to treat various conditions in animals, whether they are companion animals like dogs and cats or livestock such as cattle and poultry. Their working mechanism involves either the prevention of diseases through immunization or the treatment of existing conditions via medication or surgical intervention.
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Market Trends:
The global veterinary healthcare market is primarily driven by the escalating prevalence of animal diseases and the growing awareness around pet health. In line with this, the increase in pet adoption rates is providing an impetus to the market. Moreover, advancements in veterinary diagnostics are acting as a significant growth-inducing factor. In addition to this, the diversification of food products derived from animals is resulting in higher demand for veterinary healthcare products to ensure food safety. The market is further propelled by the increase in livestock farming to meet global food demand. Apart from this, technological innovations in veterinary care are fostering market growth. Some of the other factors contributing to the market include the rising demand for animal-derived protein, the strategic partnerships among key players in the sector, the imposition of strict regulatory standards for food safety, and an increase in public and private funding for animal healthcare.
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Competitive Landscape:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
- Animalcare Group plc
- Boehringer Ingelheim International GmbH
- Ceva Animal Health LLC
- Dechra Pharmaceuticals PLC
- Elanco Animal Health Incorporated
- Heska Corporation
- IDEXX Laboratories Inc.
- INDICAL Bioscience GmbH (Vimian Group)
- Merck & Co. Inc.
- Norbrook Laboratories Ltd
- Vetoquinol India Animal Health Pvt Ltd (Vétoquinol S.A.)
- Virbac
- Zoetis Inc. (Pfizer Inc.)
Veterinary Healthcare Market Segmentation:
Our report has categorized the market based on region, product, animal type and end user.
Breakup by Product:
- Therapeutics
- Vaccines
- Parasiticides
- Anti-Infectives
- Medical Feed Additives
- Others
- Diagnostics
- Immunodiagnostic Tests
- Molecular Diagnostics
- Diagnostic Imaging
- Clinical Chemistry
- Others
Breakup by Animal Type:
- Dogs and Cats
- Horses
- Ruminants
- Swine
- Poultry
- Others
Breakup by End User:
- Veterinary Hospitals
- Veterinary Clinics
- Veterinary Laboratory Testing Services
- Others
Breakup by Region:
- North America (United States, Canada)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
Key highlights of the report:
- Market Performance (2018-2023)
- Market Outlook (2024-2032)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
About Us
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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