Veterinary Care Market Size, Share & Trends Analysis Report By Type Of Care (Primary, Critical), By Animal Type (Companion, Production), By Region (North America, APAC)- Global Industry Analysis, Share, Growth, Regional Outlook and Forecasts, 2021-2027

The global Veterinary Care market gathered revenue around USD 74.13 Billion in 2020 and market is set to grow USD 115.4 Billion by the end of 2027 and is estimated to expand at a modest CAGR of 6.2% during the prediction period 2021 to 2027.

Growth Factors:

Increasing cases of chronic diseases in pets and livestock animals are fueling the demand for better veterinary care. Many awareness programs are being conducted around the world regarding better veterinary care, thus propelling the demand. For example, each year, during the first week of October, Canadian Veterinary Medical Association organizes Animal Health Week, a national public awareness campaign. The introduction of initiatives, such as the One Health Initiative for the improvement of healthcare standards for animals, has widened growth prospects for the market.

Increasing number of government initiatives to safeguard food security is likely to boost the adoption of better veterinary care worldwide. A significant increase in pet adoption and humanization worldwide is mostly responsible for the high need for veterinary care, which is boosting the market growth.

Moreover, the COVID-19 pandemic resulted in increased adoption of pets. In June 2020, at the Society for the Prevention of Cruelty to Animals Los Angeles, pet adoptions were double their normal rate, with almost 10 or 13 adoptions a day. Furthermore, a waiting list had formed for certain types of canines and puppies, as so few were left. Increasing awareness among pet owners for primary check-ups of their pets is further boosting the market.

The demand for animal protein is growing across the globe owing to higher per capita income. According to the article OECD-FAO Agricultural Outlook 2020-2029, growth in consumption of meat in the next decade is expected to increase by 12% by 2029. As the demand for meat continues to increase, the demand for veterinary care is anticipated to grow rapidly. Key companies in the market are collaborating with animal welfare organizations to encourage awareness and advance veterinary healthcare, which is further bolstering the market growth.

This research report purposes at stressing the most lucrative growth prospects. The aim of the research report is to provide an inclusive valuation of the Veterinary Care market and it encompasses thoughtful visions, actualities, industry-validated market findings, historic data, and prognoses by means of appropriate set of assumptions and practice. Global Veterinary Care market report aids in comprehending market structure and dynamics by recognizing and scrutinizing the market sectors and predicted the global market outlook.

Report Coverage

Report Scope Details
Market Size USD 115.4 Billion by 2027
Growth Rate CAGR of 6.2% From 2021 to 2027
Base Year 2020
Forecast Period 2021 to 2027
Historic Data 2017 to 2020
Report coverage Growth Factors, Revenue Status, Competitive Landscape,  and Future Trends
Segments Covered Animal Type, Type Of Care  and Region
Regional Scope North America, Europe, Asia Pacific, Latin America, Middle East & Africa (MEA)
Companies Mentioned  Merck Animal Health; Ceva Santé Animale; Zoetis; Boehringer Ingelheim GmbH; Elanco; IDEXX Laboratories, Inc.; Heska Corporation; Virbac; Vetoquinol S.A.; Indian Immunologicals Ltd.

COVID-19 Impact Assessment on Market Landscape

The report comprises the scrutiny of COVID-19 lock-down impact on the income of market leaders, disrupters and followers. Since lock down was instigated differently in diverse regions and nations, influence of same is also dissimilar across various industry verticals. The research report offers present short-term and long-term influence on the market to assist market participants across value chain makers to formulate the framework for short term and long-lasting tactics for recovery and by region.

Veterinary Care market Report empowers readers with all-inclusive market intelligence and offers a granular outline of the market they are operational in. Further this research study delivers exceptional combination of tangible perceptions and qualitative scrutiny to aid companies accomplishes sustainable growth. This report employs industry-leading research practices and tools to assemble all-inclusive market studies, intermingled with pertinent data. Additionally, this report also emphases on the competitive examination of crucial players by analyzing their product portfolio, pricing, gross margins, financial position, growth approaches, and regional occurrence.;

Regional analysis:

North America dominated the market with a revenue share of over 42% in 2020. The rising incidence of canine disorders is one of the key factors responsible for the largest market share of the region. According to Banfield Pet Hospital’s 2018 State of Pet Health Report, over the past 10 years, there has been a significant increase in flea allergy cases and a 30.7% & 11.5% increase in environmental allergy cases in dogs and cats, respectively.

Rising consumption of proteins from animal sources in diets is driving the demand for veterinary care for livestock animals. Per capita consumption of beef and veal meat in the U.S. was 26.3 kg while that of pork meat was 24 kg in 2019. The utilization of contaminated meat is a risk for human health, thus consumer awareness regarding food safety coupled with an increase in the consumption of poultry-related food products is boosting the market growth.

Asia Pacific is expected to show the fastest CAGR over the forecast period. Since most of the nations are dependent on agricultural production and exports, there is high availability of poultry animals, thus the market is expected to witness significant growth. Furthermore, the increased prevalence of zoonotic diseases coupled with growing awareness about livestock diseases is fueling the market growth in the region.

Improved pet adoption is one of the key factors driving the pet care industry. Growing pet humanization and increasing adoption of the Western lifestyle are changing the perception of pet owners in the region. This altering behavior pertaining to pet adoption is expected to contribute to market

Competitive Rivalry

Foremost players in the market are attentive on adopting corporation strategies to enhance their market share. Some of the prominent tactics undertaken by leading market participants in order to sustain the fierce market completion include collaborations, acquisitions, substantial spending in R&D and the improvement of new-fangled products or reforms among others.

Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.

  • Company Overview
  • Company Market Share/Positioning Analysis
  • Product Offerings
  • Financial Performance
  • Recent Initiatives
  • Key Strategies Adopted by Players
  • Vendor Landscape
  • List of Suppliers
  • List of Buyers

Some of the prominent players in the Veterinary Care Market include:  Merck Animal Health; Ceva Santé Animale; Zoetis; Boehringer Ingelheim GmbH; Elanco; IDEXX Laboratories, Inc.; Heska Corporation; Virbac; Vetoquinol S.A.; Indian Immunologicals Ltd.

Segments Covered in the Report

This research report offers market revenue, sales volume, production assessment and prognoses by classifying it on the basis of various aspects. Further, this research study investigates market size, production, consumption and its development trends at global, regional, and country level for the period of 2017 to 2027 and covers subsequent region in its scope:

  • Animal Type 
    • Companion Animal
      • Dogs
      • Cats
      • Equine
      • Others
    • Production Animal
  • Type Of Care 
    • Companion Animal
      • Primary
      • Emergency
      • Critical
      • Specialty Services
    • Production Animal
      • Primary
      • Emergency
      • Critical
      • Specialty services

By Geography

North America

  • U.S.
  • Canada

Europe

  • Germany
  • France
  • United Kingdom
  • Rest of Europe

Asia Pacific

  • China
  • Japan
  • India
  • Southeast Asia
  • Rest of Asia Pacific

Latin America

  • Brazil
  • Rest of Latin America

Middle East & Africa (MEA)

  • GCC
  • North Africa
  • South Africa
  • Rest of Middle East & Africa

Highlights of the Report:

  • Market Penetration: Comprehensive information on the product portfolios of the top players in the market.
  • Product Development/Innovation: Detailed insights on the upcoming technologies, R&D activities, and product launches in the market
  • Competitive Assessment: In-depth assessment of the market strategies, geographic and business segments of the leading players in the market
  • Market Development: Comprehensive information about emerging markets. This report analyzes the market for various segments across geographies
  • Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the market

Research Methodology

In the study, a unique research methodology is utilized to conduct extensive research on the growth of the Veterinary Care market, and reach conclusions on the future growth parameters of the market. This research methodology is a combination of primary and secondary research, which helps analysts ensure the accuracy and reliability of the conclusions.

Secondary resources referred to by analysts during the production of the Veterinary Care market study are as follows - statistics from government organizations, trade journals, white papers, and internal and external proprietary databases. Analysts have also interviewed senior managers, product portfolio managers, CEOs, VPs, marketing/product managers, and market intelligence managers, all of whom have contributed to the development of this report as a primary resource.

Comprehensive information acquired from primary and secondary resources acts as a validation from companies in the market, and makes the projections on the growth prospects of the Veterinary Care markets more accurate and reliable.

Secondary Research

It involves company databases such as Hoover's: This assists us recognize financial information, structure of the market participants and industry competitive landscape.

The secondary research sources referred in the process are as follows:

  • Governmental bodies, and organizations creating economic policies
  • National and international social welfare institutions
  • Company websites, financial reports and SEC filings, broker and investor reports
  • Related patent and regulatory databases
  • Statistical databases and market reports
  • Corporate Presentations, news, press release, and specification sheet of Manufacturers

Primary Research

Primary research includes face-to face interviews, online surveys, and telephonic interviews.

  • Means of primary research: Email interactions, telephonic discussions and Questionnaire based research etc.
  • In order to validate our research findings and analysis we conduct primary interviews of key industry participants. Insights from primary respondents help in validating the secondary research findings. It also develops Research Team’s expertise and market understanding.

Industry participants involved in this research study include:

  • CEOs, VPs, market intelligence managers
  • Procuring and national sales managers technical personnel, distributors and resellers
  • Research analysts and key opinion leaders from various domains

Key Points Covered in Veterinary Care Market Study:

  • Growth of Veterinary Care in 2021
  • Market Estimates and Forecasts (2017-2027)
  •  Brand Share and Market Share Analysis
  •  Key Drivers and Restraints Shaping Market Growth
  •  Segment-wise, Country-wise, and Region-wise Analysis
  •  Competition Mapping and Benchmarking
  •  Recommendation on Key Winning Strategies
  •  COVID-19 Impact on Demand for Veterinary Care and How to Navigate
  •  Key Product Innovations and Regulatory Climate
  •  Veterinary Care Consumption Analysis
  •  Veterinary Care Production Analysis
  •  Veterinary Care and Management