Veterinary Services Market 2021 Analysis, Growth and Business Scenario - CVS Group PLC, Ethos Veterinary Health, Greencross Limited, Idexx laboratories

Global Veterinary Services Market Size and Forecast to 2021 – 2026 is a valuable source of insightful data for business strategists. It provides the industry overview with growth analysis and historical & futuristic cost, revenue, demand, and supply data. The research analysts provide a detailed description of the value chain and its distributor analysis. This Market study provides comprehend Veterinary Services data that enhances the understanding, scope, and application of this report.

The study includes market share analysis and profiles of players such as CVS Group PLC, Ethos Veterinary Health, Greencross Limited, Idexx laboratories, Mars Inc., National Veterinary Care Ltd, Patterson Companies Inc., Pets at Home Group PLC, Animart LLC, Vetronic Services Ltd, EGAVET.

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The Global Veterinary Services Market was valued at about USD 101,150 million in 2020 and is expected to reach 140,285 million in 2026 with a CAGR of 5.5 % over the forecast period.

Market Trends:

Companion Animal Segment is Expected to Hold the Largest Share in the Market

The companion animal segment in the veterinary services market is expected to hold major market size, during the forecast period. Currently, companion animal surgery is moving onward, adopting advancements and developments in human surgical procedures. Cardiovascular Surgeries, urethral stenting, Cancer surgeries, total hip replacement, neurosurgery and kidney transplantation procedures some of the new modalities performed on companion animals.

Additionally, there has been a significant increase in the incidence of various diseases among the pet animals. According to data published in the Nature Journal, in April 2018, the annual period prevalence of osteoarthritis in dogs, under primary veterinary care in the United Kingdom, was estimated to be 2.5%. Furthermore, as per the results of the 2017-2018 APPA (American Pet Products Association) National Pet Owners Survey, 10% of dogs, and 8% of cats and birds have undergone surgical procedures.

Market Segmentation:

By Types:

Surgery
Diagnostic Tests and Imaging
Physical Health Monitoring
Other Services

By Applications:

Canine
Felines
Production Animal
Others

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Regional Analysis:

North America Expected to Dominate the Market Over the Forecast Period

North America currently dominates the veterinary services market and is expected to continue its stronghold for a few more years. The United States is expected to retain its significant market share, owing to factors, such as rising animal adoption and increasing per capita animal healthcare expenditure. There were an about, 7.9 million cows and calves in 2019, which was more than 7.7 million in 2018 in Mexico as per a report, by the United States Department of Agriculture Global Agricultural Information, 2019.

In addition, the data published by the American Pet Products Association (APPA) in 2019 stated that the total pet healthcare expenditure was estimated at USD 75.38 billion by the end of 2019, while the expenditure in 2018 was USD 72.56 billion. In 2017, the US CDC, Department of Agriculture (USDA), and the Department of the Interior (DOI) organized a One Health Zoonotic Disease Prioritization (OHZDP) workshop to address zoonotic disease challenges in the country. Such efforts are expected to increase market growth in the future.

Unfortunately, in 2020 the utilization of veterinary services has gone down because of the drastic hit by COVID -19 pandemic, but it is evident that it will pull back to normal once the situation is under control. However, there is an increasing adoption of veterinary tele consultaion services due to the emergence of COVID 19. For instance, in October 2020, Chewy, Inc. is an American online retailer has launched a telehealth service that connects pet owners to a licensed veterinarian.

The study objectives of this report are:

To study and analyze the global Veterinary Services size (value and volume) by the company, key regions/countries, products and application, history data from 2020 to 2025, and forecast to 2026.
To understand the structure of Veterinary Services by identifying its various sub-segments.
To share detailed information about the key factors influencing the growth of the market (growth potential, opportunities, drivers, industry-specific challenges and risks).
Focuses on the key global Veterinary Services manufacturers, to define, describe and analyze the sales volume, value, market share, market competition landscape, SWOT analysis, and development plans in the next few years.
To analyze the Veterinary Services with respect to individual growth trends, future prospects, and their contribution to the total market.
To project the value and volume of Veterinary Services submarkets, with respect to key regions (along with their respective key countries).
To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market.
To strategically profile the key players and comprehensively analyze their growth strategies.

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