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Veterinary Healthcare Global market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033
The Business Research Company's Veterinary Healthcare Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033
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The veterinary healthcare market has experienced significant growth in recent years. It is projected to increase from $192.55 billion in 2023 to $206.49 billion in 2024, reflecting a compound annual growth rate (CAGR) of 7.2%. This growth during the historical period can be linked to rising pet ownership, the prevalence of zoonotic diseases, expansion in the livestock sector, and adherence to regulatory standards.
How Big Is the Global Veterinary Healthcare Market Expected to Grow, and What Is Its Annual Growth Rate?
The veterinary healthcare market is projected to experience robust growth in the coming years. It is anticipated to reach $270.68 billion by 2028, with a compound annual growth rate (CAGR) of 7.0%. Factors driving this growth during the forecast period include the one health approach, the rise of telemedicine and remote consultations, personalized medicine for pets, expansion in emerging markets, and advancements in genomic medicine.
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What Is Driving the Growth of the Veterinary Healthcare Market?
The increasing prevalence of zoonotic diseases is anticipated to fuel the growth of the veterinary healthcare market in the future. Zoonotic diseases include any illnesses or infections that can be transmitted between animals and humans, or vice versa. Veterinary healthcare plays a crucial role in preventing and managing these diseases by monitoring animal health and implementing strategies to minimize transmission to humans.
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Which Leading Companies Are Driving The Growth Of The Veterinary Healthcare Market Share ?
Key players 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.
What Are The Key Trends Driving The Growth Of The Veterinary Healthcare Market Size ?
Key players in the veterinary healthcare market are concentrating on creating technology-driven solutions for monitoring health and wellness to secure a competitive advantage. This innovative approach provides numerous advantages, such as the capacity to identify illnesses earlier, with greater accuracy, and more efficiently compared to conventional visual observation techniques.
How Is the Global Veterinary Healthcare Market 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
North America: The Leading Region in the Veterinary Healthcare Market
North America was the largest region in the market in 2023. The regions covered in the report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
What Is the Veterinary Healthcare Market?
Veterinary healthcare pertains to medical services related to the diagnosis, treatment, and prevention of diseases in animals. It involves the responsibilities of professionals who provide medical care for sick or injured animals and also includes measures aimed at reducing the transmission of infectious diseases from one pet to another.
The Veterinary Healthcare Global Market Report 2024 from The Business Research Company includes the following key information:
.Market size data for both historical and future periods
.Analysis of both macro and microeconomic factors that have impacted the market over the past five years
.Regional market analysis covering Asia-Pacific, China, Western Europe, Eastern Europe, North America, the USA, South America, and the Middle East and Africa
.Country-specific market analysis for Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA.
Overview of the Global Veterinary Healthcare Market Report: Trends, Opportunities, Strategies, and More
The Veterinary Healthcare Global Market Report 2024 from The Business Research Company is an extensive resource that delivers insights into veterinary healthcare market size, veterinary healthcare market drivers and trends, veterinary healthcare competitors' revenues, and veterinary healthcare market growth across geographies. This report provides valuable in-depth insights into potential opportunities and strategies. Companies can utilize the information presented to target segments with the greatest growth potential.
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Oliver Guirdham
The Business Research Company
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