Veterinary Healthcare Market Witnesses Unprecedented Growth

According to latest research report published by Market Data Forecast, the veterinary healthcare market will be worth USD 39.56 billion in 2024 and USD 59.74 billion by 2029, growing at a CAGR of 7.94 % from 2024 to 2029.

Veterinary healthcare is a science that deals with the diagnosis, treatment, and prevention of various animal diseases by using vaccines and other treatments. It includes veterinary services, animal medicine, and veterinary medical equipment.

Global Veterinary healthcare Report Scope:
• Market Size (2029): USD 59.74 Billion
• Market Size (2024): USD 39.56 Billion
• CAGR (2024 to 2029): 7.94%
• Base Year: 2023
• Forecast Period: 2024 to 2029
• Segments Analysed: By Product, Animal Type, and Region
• Geographies Covered: North America, Europe, APAC, Latin America, and Middle East & Africa
• Key Market Players Profiled are Merck & Co. Inc., Bayer AG, Boehringer Ingelheim International GmbH, Eli Lilly and Company, Ceva Animal Health Inc., Novasep, Novartis AG, Nutreco N.V., Sanofi S.A., Sequent Scientific Ltd., Virbac S.A., Zoetic S.A.

The growing incidence of zoonotic diseases across the world contributes majorly to the growth of the global veterinary healthcare market. The growing awareness regarding animal health, increasing technological advancements in the veterinary healthcare industry, and growing government initiatives for supporting animal health are all factors boosting the global market share. The growing adoption of pet animals and the rising market trend of pet humanization in the urban population are fueling the market growth. The increasing penetration of pet insurance policies among pet owners, especially in developed countries, propels the global market expansion. With the increasing awareness of preventive care and specialty services, animal testing is gaining traction among people, enhancing the benefits of veterinary healthcare. There is increasing investment by the market players in R&D activities for developing novel medications, vaccines, and procedures for treating various zoonotic diseases. Growing advancements in the healthcare industry are influencing the development of the veterinary healthcare industry with new product approvals, frequent product launches, and the enhancement of global veterinary healthcare market growth.
Technological advancements like the introduction of veterinary health information systems enable veterinarians to access comprehensive and updated medical records for each animal. This helps in implementing better diagnosis and treatment plans as they are accessible to the animal's complete health history, leading to better patient outcomes. Increasing collaborations between government and animal health welfare associations to promote awareness among the people regarding animal health conditions and preventive measures propel the global market growth.

The high cost of veterinary healthcare services or solutions is expected to hamper the growth of the global market. Increasing cases of counterfeit products or drugs in the market are expected to hamper the veterinary healthcare market as these products harm animal health. The prevalence of illegal veterinary medicine in most developed countries like Japan, Australia, and New Zealand is limiting the expansion of the veterinary healthcare market. The high cost of research activities in developing novel compounds for animal health, like vaccines and medications, is expected to restrain the market expansion. Stringent regulations hinder market growth due to complexities and delays in the process.

Browse full details of the report @ https://www.marketdataforecast.com/market-reports/veterinary-healthcare-market

Key Insights from The Report:
• Based on Product, the pharmaceuticals segment is expected to grow at the fastest CAGR during the forecast period.
• Based on Animal, the livestock animals segment held the most significant share of the global veterinary healthcare market in 2023.
• North America dominated the veterinary healthcare market in 2023. Europe accounted for second-highest share of the global market in 2023 and on the other hand, the Asia-Pacific region is estimated to grow at the fastest CAGR during the forecast period.
• Merck & Co. Inc., Bayer AG, Boehringer Ingelheim International GmbH, Eli Lilly and Company, Ceva Animal Health Inc., Novasep, Novartis AG, Nutreco N.V., Sanofi S.A., Sequent Scientific Ltd., Virbac S.A., Zoetic S.A. are dominated the veterinary healthcare market.

SEGMENTATION INCLUDED IN THIS REPORT:

By Product:
• Pharmaceuticals
o Vaccines
o Antibiotics
o Parasiticides
o Others
• Feed Additives
o Medical Feed Additives
o Nutritional Feed Additives
By Animal Type:
• Livestock Animals
o Cattles
o Swine
o Sheep
o Poultry
o Aquatic
o Others
• Companion Animals
o Cats
o Dogs
By Region:
• North America
• Europe
• Asia-Pacific
• Latin America
• The Middle East and Africa

Browse Regional Reports:

North America Veterinary Healthcare Market Research Report - Segmented By Animal Type, Product and Country (United States, Canada, Mexico & Rest of North America) - Industry Analysis on Size, Share, Trends, COVID-19 Impact & Growth Forecast (2024 to 2029) - https://www.marketdataforecast.com/market-reports/na-veterinary-healthcare-market
Europe Veterinary Healthcare Market Research Report - Segmented By Animal Type, Product, Country (UK, France, Spain, Germany, Italy, Russia, Sweden, Denmark, Switzerland, Netherlands, Turkey, Czech Republic and Rest of Europe) - Industry Analysis on Size, Share, Trends, COVID-19 Impact & Growth Forecast (2024 to 2029) - https://www.marketdataforecast.com/market-reports/eu-veterinary-healthcare-market
APAC Veterinary Healthcare Market Research Report - Segmented By Animal Type, Product, Country (KSA, UAE, Israel, rest of GCC countries, South Africa, Ethiopia, Kenya, Egypt, Sudan, rest of MEA) - Industry Analysis, Size, Share, Trends & Growth Forecast (2024 to 2029) - https://www.marketdataforecast.com/market-reports/apac-veterinary-healthcare-market
Latin America Veterinary Healthcare Market Research Report - Segmented By Animal Type, Product, Country (Brazil, Argentina, Chile and Rest of Latin America) - Industry Analysis on Size, Share, Trends, COVID-19 Impact & Growth Forecast (2024 to 2029) - https://www.marketdataforecast.com/market-reports/la-veterinary-healthcare-market

TABLE OF CONTENTS:

1. Introduction

1.1 Market Definition

1.2 Study Deliverables

1.3 Base Currency, Base Year and Forecast Periods

1.4 General Study Assumptions

2. Research Methodology

2.1 Introduction

2.2 Research Phases

2.2.1 Secondary Research

2.2.2 Primary Research

2.2.3 Econometric Modelling

2.2.4 Expert Validation

2.3 Analysis Design

2.4 Study Timeline

3. Overview

3.1 Executive Summary

3.2 Key Inferences

3.3 Epidemiology

4. Drivers, Restraints, Opportunities, and Challenges Analysis (DROC)

4.1 Market Drivers

4.2 Market Restraints

4.3 Key Challenges

4.4 Current Opportunities in the Market

5. Market Segmentation

5.1 Product

5.1.1 Pharmaceuticals

5.1.1.1 Vaccines

5.1.1.2 Antibiotics

5.1.1.3 Parasiticides

5.1.1.4 Others

5.1.2 Feed Additives

5.1.2.1 Medical Feed Additives

5.1.2.2 Nutritional Feed Additives

5.1.3 Y-o-Y Growth Analysis, By Product

5.1.4 Market Attractiveness Analysis, By Product

5.1.5 Market Share Analysis, By Product

5.2 Animal Type

5.2.1 Livestock Animals

5.2.1.1 Cattle

5.2.1.2 Swine

5.2.1.3 Sheep

5.2.1.4 Poultry

5.2.1.5 Aquatic

5.2.1.6 Others

5.2.2 Companion Animals

5.2.2.1 Dogs

5.2.2.2 Cats

5.2.3 Y-o-Y Growth Analysis, By Animal Type

5.2.4 Market Attractiveness Analysis, By Animal Type

5.2.5 Market Share Analysis, By Animal Type

6. Geographical Analysis

6.1 Introduction

6.1.1 Regional Trends

6.1.2 Impact Analysis

6.1.3 Y-o-Y Growth Analysis

6.1.3.1 By Geographical Area

6.1.3.2 By Product

6.1.3.3 By Animal Type

6.1.4 Market Attractiveness Analysis

6.1.4.1 By Geographical Area

6.1.4.2 By Product

6.1.4.3 By Animal Type

6.1.5 Market Share Analysis

6.1.5.1 By Geographical Area

6.1.5.2 By Product

6.1.5.3 By Animal Type

6.2 North America

6.1.1 Introduction

6.1.2 United States

6.1.3 Canada

6.3 Europe

6.2.1 Introduction

6.2.2 U.K

6.2.3 Spain

6.2.4 Germany

6.2.5 Italy

6.2.6 France

6.4 Asia-Pacific

6.3.1 Introduction

6.3.2 China

6.3.3 India

6.3.4 Japan

6.3.5 Australia

6.3.6 South Korea

6.5 Latin America

6.4.1 Introduction

6.4.2 Brazil

6.4.3 Argentina

6.4.4 Mexico

6.4.5 Rest of Latin America

6.6 Middle East & Africa

6.5.1 Introduction

6.5.2 Middle-East

6.5.3 Africa

7. Strategic Analysis

7.1 PESTLE analysis

7.1.1 Political

7.1.2 Economic

7.1.3 Social

7.1.4 Technological

7.1.5 Legal

7.1.6 Environmental

7.2 Porter's Five analysis

7.2.1 Bargaining Power of Suppliers

7.2.2 Bargaining Power of Consumers

7.2.3 Threat of New Entrants

7.2.4 Threat of Substitute Products and Services

7.2.5 Competitive Rivalry within the Industry

8. Market Leaders' Analysis

8.1 MSD Animal Health

8.1.1 Overview

8.1.2 Product Analysis

8.1.3 Financial analysis

8.1.4 Recent Developments

8.1.5 SWOT analysis

8.1.6 Analyst View

8.2 Bayer AG

8.3 Boehringer Ingelheim GmbH

8.4 Ceva Santé Animale

8.5 Eli Lilly and Company

8.6 Cargill, Inc

8.7 Novasep

8.8 Koninklijke DSM N.V

8.9 Nutreco N.V.

8.10 SeQuent Scientific Ltd.

8.11 Virbac S.A.

8.12 Vétoquinol S.A.

8.13 Zoetis Inc.

9. Competitive Landscape

9.1 Market share analysis

9.2 Merger and Acquisition Analysis

9.3 Agreements, collaborations and Joint Ventures

9.4 New Product Launches

10. Market Outlook and Investment Opportunities

Appendix

a) List of Tables

b) List of Figures

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