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Veterinary Services Market 2020 Trending vendors – Mars, VCA Inc, Banfield Pet Hospital, Greencross Limited
The Business Research Company
The global veterinary services market reached a value of nearly $98 billion in 2017, having grown at a compound annual growth rate (CAGR) of more than 7% since 2013. Major drivers of the veterinary services industry in the historic period included emerging markets growth, increased pet spending, increased pet ownership by gen x and gen y adults, and increased requirements for certification to export meat products; major restraints on the market included shortage of trained veterinarians, high costs and limited government support.
The Key drivers of the veterinary services market include:-
Many countries seek certification for meat products imported in their countries. Meat products are tested for foodborne diseases, pathogens and anti-biotics administered on the animals.
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Veterinary Services Market Segmentation:-
By Service Type
1. Animal Hospitals & Veterinary Clinics
2. Pet Food & Product Sales
3. Laboratory Services
Laboratory Services had the highest growth rate of nearly 8.7% during the historic period. The fastest growth in the historic period can be attributed to the high expenditure for pet care, rising preferences of pet owners to spend for the diagnostic services, technology advancements in animal diagnostics and high costs associated with these services led to the high market growth for this segment.
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By Geography - The veterinary services market is segmented I nto
1.North America
2.Western Europe
3.Asia Pacific
4.Eastern Europe
5.South America
6.Middle East
7.Africa
Some of the major key players involved in the veterinary services market are
1. Mars, Inc.
2. VCA Inc.
3. Banfield Pet Hospital
4. Idexx Laboratories
5. Greencross Limited
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The Business Research Company has published over 1000 industry reports, covering over 2500 market segments and 60 geographies. The reports draw on 150,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders. The reports are updated with a detailed analysis of the impact of COVID-19 on various markets after WHO declared COVID-19 as a pandemic.
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