Veterinary Healthcare Market
Veterinary Healthcare Market Forecasts to 2028 - Global Analysis By Animal Type (Companion Animals, Livestock Animals), Disease (Arthritis, Allergies, Dermatology Cases, Gastrointestinal Diseases) and By Geography
Years Covered |
2020-2028 |
Estimated Year Value (2022) |
US $37.32 BN |
Projected Year Value (2028) |
US $65.76 BN |
CAGR (2022 - 2028) |
9.9% |
Regions Covered |
North America, Europe, Asia Pacific, South America, and Middle East & Africa |
Countries Covered |
US, Canada, Mexico, Germany, UK, Italy, France, Spain, Japan, China, India, Australia, New Zealand, South Korea, Rest of Asia Pacific, South America, Argentina, Brazil, Chile, Middle East & Africa, Saudi Arabia, UAE, Qatar, and South Africa |
Largest Market |
North America |
Highest Growing Market |
Asia Pacific |
According to Stratistics MRC, the Global Veterinary Healthcare Market is accounted for $37.32 billion in 2022 and is expected to reach $65.76 billion by 2028 growing at a CAGR of 9.9% during the forecast period. Veterinary healthcare can be defined as the science associated with the diagnosis, treatment, and prevention of diseases in animals. The scope of veterinary healthcare is broad covering various animal species both domestic and wild.
In 2021, the largest share of the health expenditure on prevention was spent on the surveillance, prevention, and control of infectious and parasitic diseases, which is expected given that the COVID-19 pandemic is not over yet. Over the course of 2021, the consumer healthcare market volume of products sold in Italian pharmacies was equal to roughly one billion units. According to data provided by New Line Ricerche di Mercato, self-medication products accounted for 46.4 percent of the total market volume, whereas diet food represented 6.4 percent of it.
Market Dynamics:
Driver:
Introduction of new policies
Introduction of new policies to pet owners is significantly influencing the demand of veterinary healthcare market. In the developed market, the penetration rate of pet insurance policies is very high. For instance, in the United States, the need for pet insurance policies is growing at a high CAGR during the forecast period. Similarly, in the UK, the penetration rate of pet insurance is 20%. The introduction of various pet insurance policies is solely increasing visits to veterinary healthcare centers or clinics.
Restraint:
Shortage of veterinarians
There is a decreasing number of veterinarians due to fewer training programs. Reluctance to adopt new technologies in undeveloped countries is a significant attribute for veterinarians' shortage in these places. Stringent rules and regulations are a significant challenge. Government authorities are imposing strict rules and regulations to approve a vaccine. It remains a major challenging factor for the key players. Some vaccines are unavailable against livestock vector-borne pathogens is hampering the growth rate of the market.
Opportunity:
Increasing investments in veterinary hospitals
Increasing investments in veterinary hospitals to ensure quality services is a significant factor anticipated to present growth opportunities for the market. The rise in the concern towards animal healthcare is lavishing the demand of the veterinary healthcare market. Also, growing incidence of various health disorders among animals are ascribed to bolster the market's need. Pet lovers seek for best treatment procedure at any cost, which is also impacting the growth of the market towards positive. Increasing the livestock population is another attribute focused on expanding the demand of the market. Furthermore, people's need for quality poultry products for a healthy lifestyle is likely to extensively outshine the market's need.
Threat:
Fluctuations in the availability of raw materials
Fluctuations in the availability of raw materials and the unavailability of vaccines for some diseases restrict the market's demand. Additionally, increasing regulation on antibiotics is expected to remain a major challenge for the market. Apart from that, growing costs regulation related to animal testing is also a significant hurdle for the growth of the veterinary healthcare market.
Covid-19 Impact
Shortages of veterinary medicines and supply disruptions were observed in several countries, primarily due to the temporary lockdowns of manufacturing sites, export bans, and increased demand for medicine for the treatment of COVID-19. Governments are taking measures to mitigate the supply of medicines. For instance, in 2020, the European Medicines Agency issued guidance for companies responsible for veterinary medicines with respect to adaptations to the regulatory framework, primarily to address the challenges faced during this pandemic. Also, the Centers for Disease Control and Prevention, in July 2020, recommended certain guidelines to veterinary professionals for the treatment of companion animals during the COVID-19 pandemic.
The livestock animals segment is expected to be the largest during the forecast period
Livestock animals such as cattle and poultry are expected to experience higher medicalization rates during the forecast years. In emerging economies such as the Philippines and Vietnam, earlier, poultry health was neglected, and owners used to discard the chickens in bulk during a virus outbreak. Similar was the condition of a few cattle farms. Unorganized farms were often neglected, and that hampered the overall meat production in such countries. However, the current laws have been framed to scrutinize the situation in farms and ensure maximum animal protection.
The therapeutics/drugs segment is expected to have the highest CAGR during the forecast period
Therapeutics/drugs segment comprises of vaccines too.Vaccines are comprised of viruses, bacteria, or other disease-causing organisms that have been killed or altered so that they cannot cause any disease, thus, boosting immunity. Vaccines are being manufactured that contain genetically engineered components derived from those disease agents.
Region with largest share:
North America is projected to hold the largest market share owing to the increasing chronic diseases among animals. The US is the leading country with the highest shares of the market. The introduction of pet insurance policies and creating awareness over the availability of the different treatment processes for pet animals are anticipated to fuel the market's growth rate. Increasing expenditure on veterinary healthcare in the US is solely accelerating the market demand. Some people also treat animals as family members in these countries, hugely impacting the market's growth rate.
Region with highest CAGR:
Asia Pacific is projected to have the highest CAGR due to the rise in the support from the government organizations through funds and focus on developing new drugs or vaccines in favor of the end-user.
Key players in the market
Some of the key players profiled in the Veterinary Healthcare Market include Novartis, International AG, Eli Lilly and Company, Bayer Healthcare, Koninklijke DSM N.V, Sanofi-Aventis, MSD Animal Health, Cargill Inc, SeQuent Scientific Ltd, Boehringer Ingelheim , International GmbH, Nutreco N.V., Phibro Animal Health, Elanco Animal Health, Ceva Animal Health Inc, Merck Ltd, and Zoetis Animal Healthcare.
Key developments:
In June 2020: Merck completed the acquisition of a Quantified Ag leading data analytics company that monitors cattle temperature and helps in the early detection of any disease. This acquisition will diversify Merck’s veterinary product offerings and will positively impact the company’s profitability.
In February 2020: Zoetis acquired Ethos Diagnostic Science. This acquisition will not only expand company’s product portfolio but will also help the company to grow exponentially in the veterinary space.
In January 2020: Boehringer Ingelheim’s launched a vaccine, VAXXITEK HVT+IBD+ND, that provides a strong immune foundation and optimized protection against Marek's Disease, Infectious Bursal Disease (classic and variant types), and Newcastle Disease.
Types Covered:
• Veterinary Services
• Animal Medicine
• Veterinary Medical Equipment
Animal Types Covered:
• Companion Animals
• Livestock Animals
Treatments Covered:
• Arthritis
• Allergies
• Dermatology Cases
• Gastrointestinal Diseases
Products Covered:
• Diagnostic Tools
• Therapeutics/Drugs
End Users Covered:
• Veterinary Hospitals
• Veterinary Clinics
• Veterinary Laboratory Testing Services
• Pharmacies
Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Table of Contents
1 Executive Summary
2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions
3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 Product Analysis
3.7 End User Analysis
3.8 Emerging Markets
3.9 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global Veterinary Healthcare Market, By Type
5.1 Introduction
5.2 Veterinary Services
5.3 Animal Medicine
5.4 Veterinary Medical Equipment
6 Global Veterinary Healthcare Market, By Animal Type
6.1 Introduction
6.2 Companion Animals
6.2.1 Dogs
6.2.2 Cats
6.2.3 Horses
6.2.4 Ruminants
6.3 Livestock Animals
6.3.1 Cattle
6.3.2 Sheep
6.3.3 Aquatic
6.3.4 Swine
6.3.5 Poultry
7 Global Veterinary Healthcare Market, By Disease
7.1 Introduction
7.2 Arthritis
7.3 Allergies
7.4 Dermatology Cases
7.5 Gastrointestinal Diseases
8 Global Veterinary Healthcare Market, By Product
8.1 Introduction
8.2 Diagnostic Tools
8.2.1 Molecular Diagnostics
8.2.2 Clinical Chemistry
8.2.3 Immunodiagnostic Tests
8.2.4 Diagnostic Imaging
8.3 Therapeutics/Drugs
8.3.1 Anti-Inflammatories
8.3.2 Anti Infectives
8.3.3 Parasiticides
8.3.4 Vaccines
8.3.4.1 Killed Inactivated Vaccines
8.3.4.2 Modified Live Vaccines
8.3.5 Medicinal Feed Additives
8.3.5.1 Antioxidants
8.3.5.2 Antibiotics
8.3.5.3 Enzymes
8.3.5.4 Vitamins
8.3.5.5 Amino Acids
8.3.5.6 Minerals
8.3.5.7 Prebiotics
8.3.5.8 Probiotics
8.3.6 Nutritional Feed Additives
9 Global Veterinary Healthcare Market, By End User
9.1 Introduction
9.2 Veterinary Hospitals
9.3 Veterinary Clinics
9.4 Veterinary Laboratory Testing Services
9.5 Pharmacies
10 Global Veterinary Healthcare Market, By Geography
10.1 Introduction
10.2 North America
10.2.1 US
10.2.2 Canada
10.2.3 Mexico
10.3 Europe
10.3.1 Germany
10.3.2 UK
10.3.3 Italy
10.3.4 France
10.3.5 Spain
10.3.6 Rest of Europe
10.4 Asia Pacific
10.4.1 Japan
10.4.2 China
10.4.3 India
10.4.4 Australia
10.4.5 New Zealand
10.4.6 South Korea
10.4.7 Rest of Asia Pacific
10.5 South America
10.5.1 Argentina
10.5.2 Brazil
10.5.3 Chile
10.5.4 Rest of South America
10.6 Middle East & Africa
10.6.1 Saudi Arabia
10.6.2 UAE
10.6.3 Qatar
10.6.4 South Africa
10.6.5 Rest of Middle East & Africa
11 Key Developments
11.1 Agreements, Partnerships, Collaborations and Joint Ventures
11.2 Acquisitions & Mergers
11.3 New Product Launch
11.4 Expansions
11.5 Other Key Strategies
12 Company Profiling
12.1 Novartis International AG
12.2 Eli Lilly and Company
12.3 Bayer Healthcare
12.4 Koninklijke DSM N.V
12.5 Sanofi-Aventis
12.6 MSD Animal Health
12.7 Cargill Inc
12.8 SeQuent Scientific Ltd
12.9 Boehringer Ingelheim International GmbH
12.10 Nutreco N.V.
12.11 Phibro Animal Health
12.12 Elanco Animal Health
12.13 Ceva Animal Health Inc
12.14 Merck Ltd
12.15 Zoetis Animal Healthcare
List of Tables
1 Global Veterinary Healthcare Market Outlook, By Region (2020-2028) ($MN)
2 Global Veterinary Healthcare Market Outlook, By Type (2020-2028) ($MN)
3 Global Veterinary Healthcare Market Outlook, By Veterinary Services (2020-2028) ($MN)
4 Global Veterinary Healthcare Market Outlook, By Animal Medicine (2020-2028) ($MN)
5 Global Veterinary Healthcare Market Outlook, By Veterinary Medical Equipment (2020-2028) ($MN)
6 Global Veterinary Healthcare Market Outlook, By Animal Type (2020-2028) ($MN)
7 Global Veterinary Healthcare Market Outlook, By Companion Animals (2020-2028) ($MN)
8 Global Veterinary Healthcare Market Outlook, By Dogs (2020-2028) ($MN)
9 Global Veterinary Healthcare Market Outlook, By Cats (2020-2028) ($MN)
10 Global Veterinary Healthcare Market Outlook, By Horses (2020-2028) ($MN)
11 Global Veterinary Healthcare Market Outlook, By Ruminants (2020-2028) ($MN)
12 Global Veterinary Healthcare Market Outlook, By Livestock Animals (2020-2028) ($MN)
13 Global Veterinary Healthcare Market Outlook, By Cattle (2020-2028) ($MN)
14 Global Veterinary Healthcare Market Outlook, By Sheep (2020-2028) ($MN)
15 Global Veterinary Healthcare Market Outlook, By Aquatic (2020-2028) ($MN)
16 Global Veterinary Healthcare Market Outlook, By Swine (2020-2028) ($MN)
17 Global Veterinary Healthcare Market Outlook, By Poultry (2020-2028) ($MN)
18 Global Veterinary Healthcare Market Outlook, By Disease (2020-2028) ($MN)
19 Global Veterinary Healthcare Market Outlook, By Arthritis (2020-2028) ($MN)
20 Global Veterinary Healthcare Market Outlook, By Allergies (2020-2028) ($MN)
21 Global Veterinary Healthcare Market Outlook, By Dermatology Cases (2020-2028) ($MN)
22 Global Veterinary Healthcare Market Outlook, By Gastrointestinal Diseases (2020-2028) ($MN)
23 Global Veterinary Healthcare Market Outlook, By Product (2020-2028) ($MN)
24 Global Veterinary Healthcare Market Outlook, By Diagnostic Tools (2020-2028) ($MN)
25 Global Veterinary Healthcare Market Outlook, By Molecular Diagnostics (2020-2028) ($MN)
26 Global Veterinary Healthcare Market Outlook, By Clinical Chemistry (2020-2028) ($MN)
27 Global Veterinary Healthcare Market Outlook, By Immunodiagnostic Tests (2020-2028) ($MN)
28 Global Veterinary Healthcare Market Outlook, By Diagnostic Imaging (2020-2028) ($MN)
29 Global Veterinary Healthcare Market Outlook, By Therapeutics/Drugs (2020-2028) ($MN)
30 Global Veterinary Healthcare Market Outlook, By Anti-Inflammatories (2020-2028) ($MN)
31 Global Veterinary Healthcare Market Outlook, By Anti Infectives (2020-2028) ($MN)
32 Global Veterinary Healthcare Market Outlook, By Parasiticides (2020-2028) ($MN)
33 Global Veterinary Healthcare Market Outlook, By Vaccines (2020-2028) ($MN)
34 Global Veterinary Healthcare Market Outlook, By Medicinal Feed Additives (2020-2028) ($MN)
35 Global Veterinary Healthcare Market Outlook, By Nutritional Feed Additives (2020-2028) ($MN)
36 Global Veterinary Healthcare Market Outlook, By End User (2020-2028) ($MN)
37 Global Veterinary Healthcare Market Outlook, By Veterinary Hospitals (2020-2028) ($MN)
38 Global Veterinary Healthcare Market Outlook, By Veterinary Clinics (2020-2028) ($MN)
39 Global Veterinary Healthcare Market Outlook, By Veterinary Laboratory Testing Services (2020-2028) ($MN)
40 Global Veterinary Healthcare Market Outlook, By Pharmacies (2020-2028) ($MN)
Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.
List of Figures
RESEARCH METHODOLOGY
We at ‘Stratistics’ opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.
Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.
Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.
Data Mining
The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.
Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.
Data Analysis
From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:
- Product Lifecycle Analysis
- Competitor analysis
- Risk analysis
- Porters Analysis
- PESTEL Analysis
- SWOT Analysis
The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.
Data Validation
The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.
We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.
The data validation involves the primary research from the industry experts belonging to:
- Leading Companies
- Suppliers & Distributors
- Manufacturers
- Consumers
- Industry/Strategic Consultants
Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.
For more details about research methodology, kindly write to us at info@strategymrc.com
Frequently Asked Questions
In case of any queries regarding this report, you can contact the customer service by filing the “Inquiry Before Buy” form available on the right hand side. You may also contact us through email: info@strategymrc.com or phone: +1-301-202-5929
Yes, the samples are available for all the published reports. You can request them by filling the “Request Sample” option available in this page.
Yes, you can request a sample with your specific requirements. All the customized samples will be provided as per the requirement with the real data masked.
All our reports are available in Digital PDF format. In case if you require them in any other formats, such as PPT, Excel etc you can submit a request through “Inquiry Before Buy” form available on the right hand side. You may also contact us through email: info@strategymrc.com or phone: +1-301-202-5929
We offer a free 15% customization with every purchase. This requirement can be fulfilled for both pre and post sale. You may send your customization requirements through email at info@strategymrc.com or call us on +1-301-202-5929.
We have 3 different licensing options available in electronic format.
- Single User Licence: Allows one person, typically the buyer, to have access to the ordered product. The ordered product cannot be distributed to anyone else.
- 2-5 User Licence: Allows the ordered product to be shared among a maximum of 5 people within your organisation.
- Corporate License: Allows the product to be shared among all employees of your organisation regardless of their geographical location.
All our reports are typically be emailed to you as an attachment.
To order any available report you need to register on our website. The payment can be made either through CCAvenue or PayPal payments gateways which accept all international cards.
We extend our support to 6 months post sale. A post sale customization is also provided to cover your unmet needs in the report.
Request Customization
We provide a free 15% customization on every purchase. This requirement can be fulfilled for both pre and post sale. You may send your customization requirements through email at info@strategymrc.com or call us on +1-301-202-5929.
Note: This customization is absolutely free until it falls under the 15% bracket. If your requirement exceeds this a feasibility check will be performed. Post that, a quote will be provided along with the timelines.
WHY CHOOSE US ?
Assured Quality
Best in class reports with high standard of research integrity
24X7 Research Support
Continuous support to ensure the best customer experience.
Free Customization
Adding more values to your product of interest.
Safe & Secure Access
Providing a secured environment for all online transactions.
Trusted by 600+ Brands
Serving the most reputed brands across the world.