Press release
Veterinary Healthcare Market Share, Business Opportunities, Current Trends and Industry Analysis By 2020 - 2023
The veterinary healthcare market consists sales of goods and services by entities (organizations, sole traders and partnerships) associated with diagnosis, treatment and prevention of diseases in animals. This industry includes establishments that provide veterinary services, veterinary medical equipment producers and animal medicine producers.
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Growth in the historic period resulted from emerging markets growth, increased pet ownership by gen x and gen y adults, increased pet spending, increased disease prevalence, rise in meat consumption, and stringent regulations on meat products. Factors that negatively affected growth in the historic period were shortage of veterinarians, lack of awareness, and inappropriate use of medicines.
Veterinary Healthcare Market Segmentation: -
Veterinary Healthcare By Type - The veterinary healthcare market can be segmented by type into
1. Veterinary Services
2. Animal Medicine
3. Veterinary Medical Equipment
The veterinary services market was the largest segment of the veterinary healthcare market, accounting for 74.0% of the total in 2019. It was followed by animal medicine, and veterinary medical equipment. Going forward, the veterinary medical equipment segment is expected to be the fastest growing segment in the veterinary healthcare market. Veterinary services market is further segmented into animal hospitals and veterinary clinics and veterinary laboratory testing services. Veterinary medical equipment is further segmented into veterinary diagnostic equipment, veterinary anesthesia equipment, veterinary patient monitoring equipment and other veterinary medical equipment. Animal medicine is further segmented into veterinary pharmaceuticals and feed additives. Animal Medicine market is further segmented by type of animal into Livestock, Companion Animal Veterinary Pharmaceuticals market is further segmented by type of pharmaceutical into Veterinary Parasiticides, Veterinary Vaccines, Veterinary Antibiotics, and Others - Veterinary Pharmaceuticals Feed Additives market is further segmented by type of additive into Medical Feed Additives, Nutritional Feed Additives.
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By Geography - The veterinary healthcare market is segmented into
1. North America
2. Western Europe
3. Asia Pacific
4. Eastern Europe
5. South America
6. Middle East
7. Africa
North America was the largest region in the global veterinary healthcare market, accounting for 47.1% of the total in 2019. It was followed by Western Europe, Asia Pacific, and then the other regions. Going forward, the fastest-growing regions in the veterinary healthcare market will be Africa and Asia Pacific.
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Some of the major key players involved in the veterinary healthcare market are Zoetis, Inc., Boehringer Ingelheim GmbH, Merck & Co, Koninklijke DSM N.V, Mars Inc., Elanco Animal Health Inc., Ilex Laboratories, Bayer AG, Ceva Animal Health LLC - Biomune, Virbac Group, Phirbo Animal Health, Vetoquinol S.A., Kyoritsu Seiyaku, Century Pharmaceuticals Limited, BASF India Ltd., Bayer Animal Health Cadila Pharmaceuticals Ltd., Cargill India Pvt. Ltd., DBK Pharma S.A.E, Drakenstein veterinary clinic, Onderstepoort veterinary academic hospital.
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