Veterinary Care Market Size Is Predicted to Reach $114.4 Billion by 2028 | CAGR: 5.4% | Grand View Research, Inc.

Grand View Research, Inc. – Market Research And Consulting.
According to a new report published by Grand View Research, Increasing number of government initiatives to safeguard food security is likely to boost the adoption of better veterinary care worldwide.

The global veterinary care market size is expected to reach USD 114.4 billion by 2028, registering a CAGR of 5.4% over the forecast period, according to a new report by Grand View Research, Inc. 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.

 

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Veterinary Care Market Report Highlights

Companion animals held the dominant share in the animal type segment owing to increasing pet healthcare expenditure and increasing pet adoption
The production animals segment is expected to register the fastest CAGR over the forecast period due to increasing government initiatives to improve livestock health
Moreover, rising domestic production, consumption, and export of bovine meat is boosting the segment growth
Primary care type, for both production & companion animals, dominated the global market in 2020 due to the increased pet ownership, government initiatives to prevent various animal diseases, and a high number of veterinary hospitals & clinics

 

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Veterinary Care Market Segmentation

Grand View Research has segmented the global veterinary care market on the basis of animal type, type of care, and region:

Veterinary Care Animal Type Outlook (Revenue, USD Billion, 2016 – 2028)

Companion Animal
Dogs
Cats
Equine
Others
Production Animal

 

Veterinary Care Type Of Care Outlook (Revenue, USD Billion, 2016 – 2028)

Companion Animal
Primary
Emergency
Critical
Specialty Services
Production Animal
Primary
Emergency
Critical
Specialty services

 

Veterinary Care Regional Outlook (Revenue, USD Billion, 2016 – 2028)

North America
U.S.
Canada
Europe
U.K.
Germany
France
Italy
Spain
Asia Pacific
Japan
China
India
Latin America
Brazil
Mexico
Middle East and Africa
South Africa

 

List of Key Players of Veterinary Care Market

Merck Animal Health
Ceva Santé Animale
Zoetis
Boehringer Ingelheim GmbH
Elanco
IDEXX Laboratories, Inc.
Heska Corporation
Virbac
Vetoquinol S.A.
Indian Immunologicals Ltd.

 

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Browse More Related Report:

Veterinary Services Market Size, Share & Trends Analysis Report By Animal Type (Production, Companion), By Region (North America, Latin America, APAC), And Segment Forecasts, 2021 – 2028

 

About Grand View Research

Grand View Research is a full-time market research and consulting company registered in San Francisco, California. The company fully offers market reports, both customized and syndicates, based on intense data analysis. It also offers consulting services to business communities and academic institutions and helps them understand the global and business scenario to a significant extent. The company operates across multitude of domains such as Chemicals, Materials, Food and Beverages, Consumer Goods, Healthcare, and Information Technology to offer consulting services.

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