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Veterinary Healthcare Market Forecast 2025-2034: Analysing Major Trends, Opportunities, and Growth Drivers
Veterinary Healthcare Global Market Report 2025
In recent times, the veterinary healthcare market has seen significant expansion. It is expected to increase from $210.91 billion in 2024 to $227.13 billion in 2025, with a compound annual growth rate (CAGR) of 7.7%. The remarkable growth in the previous years can be linked to factors such as rise pet ownership, the emergence of zoonotic diseases, the expansion of the livestock industry, and regulatory adherence.
The size of the veterinary healthcare market is anticipated to experience robust expansion in the forthcoming years. It's projected to reach a value of $297.13 billion by 2029, with a compound annual growth rate (CAGR) of 6.9%. The expected increase during this forecast period is linked to factors such as the one health approach, the rise in telemedicine and remote consulting, bespoke treatments for pets, and growth in emerging markets and genomic medicine. Other predicted trends for this period encompass preventive health care, pet insurance, pet nutraceuticals, animal rehabilitation and physiotherapy, and environmental sustainability.
What Key Elements Are Boosting Growth in the Veterinary Healthcare Market?
The forecast period predicts an increase in global meat production, which will consequently boost the veterinary healthcare sector. This increment in meat production is particularly noticeable in emerging economies such as China, India, and Brazil, where meat product demands are fuelled by growing income levels and population increases. It is projected that by 2027, meat and poultry production will see a 76% rise in these developing markets. China's meat importation by 2050 is predicted to see an over 3,500% boost to $150 billion due to an expected surge in chicken, pork, and beef consumption driven by a prospering middle class. The escalating production of meat goods promoted by the population growth will trigger a greater demand for feed additives in the livestock sector, thereby propelling the veterinary healthcare market.
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Who Are the Major Industry Players Fueling Veterinary Healthcare Market Expansion?
Major companies operating in the veterinary healthcare market include Veterinary Healthcare, Zoetis Inc., Boehringer Ingelheim GmbH, Merck & Co Inc., IDEXX Laboratories Inc., Evonik Industries AG, Patterson Companies Inc., Ceva Animal Health LLC, Pets at Home Group PLC, National Veterinary Associates Inc., Phirbo Animal Health, MSD Animal Health UK Ltd., C.H. Boehringer Sohn AG & Co, Eli Lilly and Company, Vetoquinol India Animal Health Pvt Ltd., Virbac Group, Dechra Pharmaceuticals plc, Heska Corp, Phillip Brothers Chemicals Inc., Neogen Corp, Kindred Biosciences Inc., Animalcare Group plc, Biogenesis Bago Saude Animal Ltd., Nexvet Biopharma plc, Norbrook Laboratories Ltd., Ouro Fino Saude Animal Participacoes SA, PetIQ Inc., Veterinary Centers of America. Clinical Veterinary Labs, Inc., Greencross Pty Ltd., Consumer Value Stores Group plc, Independent Vetcare Ltd., AniCura AB, VetPartners UK Holdings Ltd., VetCor Professional Practices LLC .
Which Key Developments Are Influencing the Veterinary Healthcare Market?
The animal medicine market is gradually embracing nanotechnology as a replacement for veterinary antibiotics in the fight against antibiotic resistance. Nanotechnology involves manipulation of matter at atomic and molecular levels. This technology is applied in the animal medicine field to enhance diagnosis, treatment, animal developmental promotion, and output. The primary use of nanoparticles is as alternative antimicrobial substances to lessen antibiotics usage and facilitate pathogenic bacteria detection. Moreover, they serve as drug delivery mediums for innovative drugs and potential vaccines, altering their traits and efficacy, and decreasing drug resistance in animal bodies.
How Is the Segmentation of the Veterinary Healthcare Market Defined?
The veterinary healthcare market covered in this report is segmented -
1) By Type: Veterinary Services, Veterinary Medical Equipment, Animal Medicine
2) By Animal Type: Dogs and Cats, Horses, Ruminants, Swine, Poultry, Other Animals
3) By Product: Instruments/Equipment, Disposables
Subsegments:
1) By Veterinary Services: Pet Care Services (Grooming, Boarding), Veterinary Hospitals And Clinics, Veterinary Diagnostics, Emergency And Specialty Veterinary Services
2) By Veterinary Medical Equipment: Diagnostic Equipment (X-ray, Ultrasound), Surgical Instruments And Equipment, Anesthesia Equipment, Monitoring Equipment (ECG, Pulse Oximeters)
3) By Animal Medicine: Vaccines, Antibiotics And Antimicrobials, Parasiticides, Pain Management Medications, Hormonal And Steroidal Medications
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What Is the Leading Region in the Veterinary Healthcare Market?
North America was the largest region in the veterinary healthcare market in 2023. Asia-Pacific was the second-largest region in the veterinary healthcare market. The regions covered in the veterinary healthcare market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
What Is Covered In The Veterinary Healthcare Global Market Report?
- Market Size Analysis: Analyze the Veterinary Healthcare Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Veterinary Healthcare Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Veterinary Healthcare Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Veterinary Healthcare Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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