Veterinary Care Market Set to Reach $113.58 Billion by 2029 with 6.7% Yearly Growth

How Are the key drivers contributing to the expansion of the veterinary care market?
As pet adoption becomes more popular, the veterinary care market is projected to expand. Adopting a pet involves voluntarily taking on the responsibility of a pet from a shelter, rescue organization, or previous owner, and committing to provide them with a stable, permanent home, which necessitates legal and ethical commitments. The surge in pet adoption has been driven by myriad factors, such as societal shifts, urbanization, and the trend of young adults postponing parenthood. Veterinary care plays a vital role in pet adoption because it offers medical intervention and preventive care, ensuring the pet's health and addressing any immediate medical needs. For example, in October 2023, the American Pet Products Association, a US-based non-profit organization, reported that 86.9 million US households, or 66% of 2022 households, owned a pet. Moreover, in November 2022, Animal Medicines Australia, an Australian organization representing animal health, reported that 69% of Australian households owned a pet in 2022. As such, the rising trend of pet adoption is fueling the growth of the veterinary care market.

Get Your Veterinary Care Market Report Here:
https://www.thebusinessresearchcompany.com/report/veterinary-care-global-market-report

What growth opportunities are expected to drive the veterinary care market's CAGR through 2034?
The size of the veterinary care market has seen substantial growth in the past few years. It is projected to increase from $82.04 billion in 2024 to $87.77 billion in 2025, experiencing a compound annual growth rate (CAGR) of 7.0%. Factors contributing to the growth during the historical period include increased dog adoption, growing public policies for animal health, rise in pet numbers, escalated disposable income, and the surge in need for veterinary diagnostics.

The market size of veterinary care is set to experience robust expansion in the coming years, expecting to surge to $113.58 billion by 2029 with a CAGR of 6.7%. This growth prediction for the period is driven by several factors such as heightened requirement for portable gadgets for point-of-care (POC) services, proliferation in veterinary facilities, escalation in chronic disease cases in pets, the necessity for hazard-free animal product, and a spike in rabies fatalities. The provisional forecast entails key trends like the use of Ribonucleic acid (RNA) particle technology, novel animal health care products, progress in veterinary medicine, digital cytology technology, and technological leaps.

Get Your Free Sample Now - Explore Exclusive Market Insights:
https://www.thebusinessresearchcompany.com/sample.aspx?id=20682&type=smp

What are the emerging trends shaping the future of the veterinary care market?
Leading businesses in the veterinary care market are focusing on creating novel products such as pet first-aid kits to improve the health and welfare of animals, covering a broad spectrum of needs from preventive maintenance to complicated medical condition treatment. The pet first-aid kit is an assortment of crucial tools and supplies designed to offer immediate care for pets in minor injury situations or emergencies until they can receive professional veterinary services. A well-equipped first-aid kit is incredibly important in managing ordinary pet emergencies like cuts, burns or choking. For example, in August 2023, MySimplePetLab., a US-based pet care provider functioning from home or in their clinic, initiated the first aid care dog kit in Target outlets. This kit is constructed to deliver immediate assistance for wounds, cuts, and minor injuries, positioning it as an indispensable piece for pet owners at home or during travel. The kit consists of essential items such as a vet-endorsed care guide, wound cleaning solutions, wound protectors, blood-clotting powder, sterilizing wipes, antibiotic creams, gauze pads, an instant cooling pack, among others.

Which growth-oriented segments of the veterinary care market are leading the industry's development?
The veterinary care market covered in this report is segmented -

1) By Product: Therapeutics, Diagnostics
2) By Animal Type: Companion Animal, Production Animal
3) By Type Of Care: Primary, Emergency, Critical, Specialty Services, Others Services
4) By End-User: Veterinary Hospitals, Veterinary Clinics, Veterinary Laboratory Testing Services, Other End-User

Subsegments:
1) By Therapeutics: Anti-infective Drugs, Pain Management Medications, Vaccines, Anesthetics, Anti-inflammatory Drugs, Hormonal Therapies, Nutraceuticals And Supplements
2) By Diagnostics: In-Vitro Diagnostic Tests, Imaging Equipment (X-ray, Ultrasound, MRI), Blood Testing Kits, Fecal Analysis Kits, Rapid Test Kits, Histopathology Products, Diagnostic Imaging Software

Unlock Exclusive Market Insights - Purchase Your Research Report Now!
https://www.thebusinessresearchcompany.com/purchaseoptions.aspx?id=20682

What regions are leading the charge in the veterinary care market?
North America was the largest region in the veterinary care market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the veterinary care market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

What companies are at the forefront of innovation in the veterinary care market?
Major companies operating in the veterinary care market are Cargill Incorporated, Novartis AG, Mars Incorporated, C.H. Boehringer Sohn AG & Co. KG, The Merck Group, Zoetis Inc., Elanco Animal Health Incorporated, IDEXX Laboratories Inc., Ceva Santé Animale, Phibro Animal Health Corporation, Dechra Pharmaceuticals PLC, PetVet Care Centers LLC, VetStrategy Inc., Vetoquinol, Heska Corporation, Neogen Corporation, Sequent Scientific Ltd., Animal Care Group Plc, Medivet, Hester Bioscience Limited

Customize Your Report - Get Tailored Market Insights!
https://www.thebusinessresearchcompany.com/customise?id=20682&type=smp

What Is Covered In The Veterinary Care Global Market Report?

•Market Size Forecast: Examine the veterinary care market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the veterinary care market for a structured understanding.
•Key Players Overview: Analyze major players in the veterinary care market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the veterinary care market.
•Segment Contributions: Evaluate how different segments drive overall growth in the veterinary care market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the veterinary care market.
•Industry Challenges: Identify potential risks and obstacles affecting the veterinary care market.
•Competitive Landscape: Review strategic developments in the veterinary care market, including expansions, agreements, and new product launches.

Connect with us on:
LinkedIn: https://in.linkedin.com/company/the-business-research-company,
Twitter: https://twitter.com/tbrc_info,
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ.

Contact Us
Europe: +44 207 1930 708,
Asia: +91 88972 63534,
Americas: +1 315 623 0293 or
Email: mailto:info@tbrc.info

Learn More About The Business Research Company
With over 15,000+ reports from 27 industries covering 60+ geographies, The Business Research Company has built a reputation for offering comprehensive, data-rich research and insights. Our flagship product, the Global Market Model delivers comprehensive and updated forecasts to support informed decision-making.

This release was published on openPR.