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Animal Hospitals And Veterinary Clinics Global Market Report 2024 To 2033 | Mars Inc, National Veterinary Associates Inc, CVS Group Plc, Apiam Animal Health Limited
Animal Hospitals And Veterinary Clinics Market Share
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According to The Business Research Company's, The animal hospitals and veterinary clinics market size has grown strongly in recent years. It will grow from $113.97 billion in 2023 to $121.79 billion in 2024 at a compound annual growth rate (CAGR) of 6.9%. The growth in the historic period can be attributed to increased penetration of pet insurance, increased spending on pets, rise in animal healthcare expenditure and increased pet population.
The animal hospitals and veterinary clinics market size is expected to see strong growth in the next few years. It will grow to $157.88 billion in 2028 at a compound annual growth rate (CAGR) of 6.7%. The growth in the forecast period can be attributed to increasing pet ownership, increasing consumption of animal-derived products, supportive government initiatives and increasing disease prevalence among animals. Major trends in the forecast period include launch of mobile veterinary units, introduction of electronic health records use of artificial intelligence in animal care, development of new screening tests for animals and increasing emphasis on e-commerce in the pet care industry.
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Market Drivers and Trends:
The rise in the adoption of companion pets globally is driving the animal hospitals and veterinary clinics market. The key factor behind this rise in adoption is the increasing humanization of pets, as an increasing number of pet owners are accepting pets as family members. According to the American Veterinary Medical Association report, there was a correlation between the degree of human-animal bond and pet spending. According to the American Society for the Prevention of Cruelty to Animals (ASPCA), in the USA, approximately 3.2 million shelter animals are adopted each year. Also, according to a study, Americans spent about $17 billion on veterinary care in hospitals, clinics, and food. Similarly, Chinese pet owners spent more than 5,000 yuan per pet. With this growth, the animal hospital and veterinary clinic market is expected to grow in the forecast period.
Many veterinary care service providers are adopting big data technologies to provide better treatment for pets, livestock, and animals. This technology is used to diagnose and assess potential diseases. Big data enables veterinarians to identify the diseases affecting cattle and pets in various locations and regions. For instance, Bayer Healthcare Animal introduced applications to assess potential signs of diseases in animals, thus enabling faster diagnosis and treatment of disease conditions. Some of the major veterinary care providers opting for big data analytics to treat pet health issues are VCA Inc., Banfield Pet Hospitals, and Greencross Limited.
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• Comprehensive Market Insights: Stakeholders gain access to detailed market statistics, trends, and analyses that help them understand the current and future landscape of their industry.
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• Global Perspective: The reports cover various regions and markets, providing a broad view that helps stakeholders expand and operate successfully on a global scale.
Major Key Players of the Market:
Mars Inc, National Veterinary Associates Inc, CVS Group Plc, Apiam Animal Health Limited, Medivet Group Limited, Pets at Home Group Plc, MSPCA-Angell, Veterinary Purchasing Co. Ltd., Greencross Vets Limited, Zabeel Veterinary Hospital, International Center for Veterinary Services, Simplyhealth Group, Paw Veterinary Clinic, Chengdu Vet Hospital, Canberra Veterinary Hospital, Shengpu Pet Hospital, Blacks Vets Dudley Hospital, Frantz Cappe, Clinique Veterinaire Metivet, Alizee Vet Clinic, Cristina Cardone, Abbey House Veterinary Hospital, The Animal Medical Center, Premier Veterinary Group plc, Movet, Primo Veterinary Medicines Trading LLC, ANIMED Veterinary Clinic, Vetwest Animal Hospitals, Veterinary Vinohrady Brno, Centre Vétérinaire Laval, P3 Veterinary Partners, Audrain Veterinary Clinic Fuzzy, Maure, Mimados, Peru Animal Hospital, Miami County Veterinary Clinic, Cindy Fouts, Kokomo Animal Hospital, Royal Veterinary College, AL KUBARA VETERINARY MEDICINES TRADING LLC, Eurovets Veterinary Suppliers, Bryanston Veterinary Hospital (BVH), Kampala Animal Hospital.
Animal Hospitals And Veterinary Clinics Market 2024 Key Insights:
• The animal hospitals and veterinary clinics market size is expected to see strong growth in the next few years. It will grow to $157.88 billion in 2028 at a compound annual growth rate (CAGR) of 6.7%.
• Rise In Adoption Of Companion Pets In Animal Hospitals And Veterinary Clinics Market
• Big Data Technology In Veterinary Care For Animal Hospitals And Veterinary Clinics Market
• North America was the largest region in the animal hospitals and veterinary clinics market in 2023
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The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
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