IMARC Group, a leading market research company, has recently releases report titled “Veterinary Service Market Report by Service (Surgery, Diagnostic Tests and Imaging, Physical Health Monitoring, and Others), Animal Type (Companion Animal, Farm Animal), End Use (Veterinary Clinic, Veterinary Hospital), and Region 2024-2032” Offers a comprehensive analysis of the industry, which comprises insights on the veterinary service market report.
How Big Is the Veterinary Service Market?
The global veterinary service market size reached US$ 113.1 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 170.0 Billion by 2032, exhibiting a growth rate (CAGR) of 4.5% during 2024-2032.
Industry Overview of Veterinary Service
Veterinary service is the specialized service within the healthcare industry that focuses on the medical care and well-being of animals. It comprises a wide range of healthcare provisions, such as preventive care, diagnostics, treatment, and surgical interventions for various animals, including pets, livestock, and exotic species. It plays a vital role in safeguarding the health and welfare of animals while ensuring their longevity and quality of life. It allows veterinary professionals to monitor and control the spread of diseases while providing essential healthcare and disease management for animals. As it aids in preventing injuries among animals, the demand for veterinary service is increasing across the globe.
For an in-depth analysis, you can refer sample copy of the report: https://www.imarcgroup.com/veterinary-service-market/requestsample
What are the growth prospects and trends in the veterinary service industry?
Presently, the rising spending on veterinary services due to the increasing focus on preventive care and wellness for animals represents one of the key factors bolstering the market growth. Moreover, the growing demand for veterinary services, including routine check-ups, vaccinations, and pet healthcare on account of the rising number of pet owners around the world is offering a positive market outlook.
In addition, the increasing adoption of telemedicine and digital health solutions in veterinary care across the globe is strengthening the growth of the market. Apart from this, the rising demand for specialized medical services, such as arthritis management and chronic disease treatments, among animals of old age is offering lucrative growth opportunities to industry investors.
Furthermore, the wide availability of pet insurance policies that encourage pet owners to seek timely and comprehensive veterinary services without financial constraints is supporting the growth of the market. In line with this, the rising popularity of exotic pets, such as reptiles and birds, is propelling the growth of the market. Besides this, the growing demand for regular veterinary care to prevent disease spread, along with the increasing public awareness about zoonotic diseases, is positively influencing the market.
Leading Companies Operating in the Global Veterinary Service Industry:
- Addison Biological Laboratory Inc.
- Armor Animal Health
- CityVet
- CVS Group PLC
- Elanco Animal Health Incorporated
- Ethos Veterinary Health LLC
- FirstVet
- Greencross Vets
- Heska Corporation
- Idexx Laboratories Inc.
- Intervet Inc. (Merck & Co. Inc.)
- PetIQ LLC
- Pets at Home Group PLC.
Veterinary Service Market Report Segmentation:
The report has segmented the market into the following categories:
Breakup by Service:
- Surgery
- Diagnostic Tests and Imaging
- Physical Health Monitoring
- Others
Breakup by Animal Type:
- Companion Animal
- Farm Animal
Breakup by End Use:
- Veterinary Clinic
- Veterinary Hospital
Breakup by Region:
- North America: (United States, Canada)
- Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America: (Brazil, Mexico, Others)
- Middle East and Africa
If you require any specific information that is not covered currently within the scope of the report, we will provide the same as a part of the customization.
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