According to a recent report published by Grand View Research Inc., increasing pet adoption and concerns regarding their safety & food security is likely to accelerate market expansion. Initiatives undertaken by organizations to promote telemedicine in Covid-19 times is also supporting growth.
According to a report, “Veterinary Services Market Analysis Report By Animal Type (Production (Poultry, Cattle, Swine), Companion (Cats, Dogs, Equine)), By Region (APAC, North America, Europe), And Segment Forecasts, 2018–2025”, published by Grand View Research, Inc. The global veterinary services market size is expected to reach USD 142.04 billion in 2025, registering a CAGR of 5.6%, as per a new report by Grand View Research Inc. Concerns regarding pet security and well-being have encouraged the adoption of effective veterinary services worldwide. This has also fueled the pet adoption rate and is one of the primary growth stimulants for market growth.
Technological advancements have enabled the development of risk-based management systems that are designed to examine real-time fluctuations in zoonotic and food-borne disease prevalence. This has widened the growth scope of the veterinary services market. Since veterinary services play a very crucial role in risk aversion various guidelines have been rolled-out by regulatory authorities to preserve overall food safety. This has helped in controlling animal disease outbreaks and has facilitated the implementation of remedial measures.
According to the recent article published by the Organization for Animal Health (OIE), animal food demand is growing rapidly globally and this consists of the demand for meat, chew treats, etc., which is anticipated to reach 445 million tonnes by 2050. Organizations such as OIE is focused on maintaining animal well-being and food safety by consistently distributing guidelines to eradicate potential biological hazards associated with pre-slaughter, pre-processing, checks on-farm, and processing stages.
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www.grandviewresearch.com/industry-analysis/veterinary-services-market/request/rs1
Veterinary Services Market Report Highlights
- The American Veterinary Medical Association(AVMA) is consistently working in association with federal agencies, such as the FDA, CDC, and USDA; other national, state, and international public health and veterinary expert assemblies; intergovernmental organizations such as OIE and the WHO; lawmakers, and others to combat the Covid-19 outbreak
- Government measures passed to control the spread of coronavirus among animals has found practical resources and provide patient care including clinical signage, telemedicine guidance, medical supply chains enhancements, CE, PPE, and more
- Surging demand for precise monitoring of the pathogenesis and epidemiology of diseases in pets is prompting organizations like the European Scientific Counsel Companion Animal Parasites and the Companion Animal Parasite Council is driving the growth of the production animal type segment
- In 2017, cattle led the market and was the key revenue contributor within the production animals segment. This is ascribed to the increasing penetration of services including artificial insemination and hoof care
- North America accounted for the highest revenue share in 2017, on account of the increased focus on improving the existing veterinary services and the introduction of animal education programs. The World Veterinary Association (WVA) and OIE have jointly drawn attention to the responsibilities of the veterinary profession toward public health in the region
Veterinary Services Market Segmentation
Grand View Research has segmented the global veterinary services market on the basis of animal type and region:
Veterinary Services Animal Type Outlook (Revenue, USD Million, 2014–2025)
● Production Animal
o Cattle
o Artificial Insemination
o Hoof Care
o Diagnostic Services
o Others
o Poultry
o Biosecurity
o Reproductive Consulting
o Diagnostic Services
o Others
o Swine
o Biosecurity
o Reproductive Consulting
o Diagnostic Services
o Others
o Others
● Companion Animal
o Dogs
o Dental Care
o Vaccinations
o Grooming
o Diagnostic Services
o Others
o Cats
o Dental Care
o Vaccinations
o Grooming
o Diagnostic Services
o Others
o Horses
o Hoof Care
o Dental Care
o Artificial Insemination
o Grooming
o Others
o Others
Veterinary Services Regional Outlook (Revenue, USD Million, 2014–2025)
● North America
o The U.S.
o Canada
● Europe
o The U.K.
o Germany
o France
o Italy
o Spain
● Asia Pacific
o Japan
o China
o India
● Latin America
o Brazil
o Mexico
● Middle East & Africa
o South Africa
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