The Worldwide Veterinary Services Industry is Expected to Reach $159.5 Billion by 2028

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Jan 18, 2022, 08:30 ET

DUBLIN, Jan. 18, 2022 /PRNewswire/ -- The "Global 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" report has been added to ResearchAndMarkets.com's offering.

The global veterinary services market size is expected to reach USD 159.5 billion by 2028, registering a CAGR of 5.7% over the forecast years.

The market is predominantly driven by rising concerns regarding food security and safety thus encouraging the adoption of veterinary services to yield high-quality animal source foods. In addition, increasing pet adoption is a key contributing factor for the overall market growth.

The pet adoption rate spiked during the coronavirus pandemic as many individuals have been working from home. Many consider their pet as a family fellow. Thus, veterinary companies announced some new products, services, diagnostic tools, to cater to the demand. For example, in September 2020, Zoetis launched VetscanImagyst, a new diagnostic platform to detect intestinal parasites in pets.

In addition, the advent of risk-based management systems, designed to analyze real-time fluctuations in food-borne and zoonotic disease prevalence, encourage sanitary and phytosanitary services, thus widening the scope for growth of the market. The veterinary facilities play a critical role in risk aversion and facilitate the implementation of various guidelines issued by regulatory authorities to maintain overall food safety. It also facilitates the investigation of animal disease outbreaks and the implementation of remedial measures after an outbreak has been identified. The aforementioned factors are predicted to broaden the growth potential of the market.

Veterinary Services Market Report Highlights

The production animal segment accounted for the largest revenue share in 2020 due to the high adoption of facilities for livestock to maintain biosecurity
Cattle held the largest share of the production animals segment in 2020 owing to increased penetration of services, such as hoof care and artificial insemination
The companion animal type segment is projected to grow at the fastest CAGR from 2021 to 2028 owing to an unprecedented increase in pet adoption due to associated health benefits for humans, such as greater psychological stability, lower blood pressure and reduced anxiety attacks
Dogs accounted for the largest share amongst companion animals in 2020 owing to growing awareness amongst pet owners about pet hygiene, thus resulting in increased demand for grooming facilities
North America dominated the global market in 2020 due to the presence of private veterinarians that directly supply these services to consumers
Asia Pacific is anticipated to register a significant CAGR from 2021 to 2028 as a result of high clinical urgency to curb zoonotic diseases and for the management of sudden disease outbreaks, such as Ebola and swine influenza
The market is highly fragmented and the key participants deploy strategies, such as regional expansion, to gain a competitive advantage
For instance, in June 2018, Mars Pet care entered Europe's regional market through the acquisition of AniCura and Linnaeus. This move has expanded the company's geographical presence and strengthened its service offerings

Key Topics Covered:

Chapter 1 Research Methodology & Scope

Chapter 2 Executive Summary

Chapter 3 Veterinary Services Market Variables, Trends & Scope
3.1 Market Driver Analysis
3.1.1 Increase in the number of animal welfare activities
3.1.2 Rising need to enhance food security globally
3.1.3 Increasing pet adoption
3.1.4 Growing awareness about pet health
3.1.5 Increase in animal expenditure
3.1.6 Increasing prevalence of zoonotic diseases
3.2 Market Restraint Analysis
3.2.1 High annual costs and overall animal expenditure
3.2.2 Lack of standardization
3.3 Penetration & Growth Prospect Mapping
3.4 Veterinary Services Market Analysis Tools: Porters
3.4.1 Supplier Power
3.4.2 Buyer Power
3.4.3 Threat Of Substitutes
3.4.4 Threat Of New Entrants
3.4.5 Competitive Rivalry
3.5 SWOT Analysis By Factors (Political & Legal, Economic, Social and Technology)
3.5.1 Political Landscape
3.5.2 Economic Landscape
3.5.3 Social Landscape
3.5.4 Technology Landscape
3.5.5 Legal Landscape
3.6 Covid-19 Impact Analysis

Chapter 4 Veterinary Services Market: Animal Type Estimates & Trend Analysis
4.1 Veterinary Services Market Animal Type Movement Analysis
4.2 Production Animal
4.2.1 Production animal market estimates and forecasts, 2016 - 2028 (USD Billion)
4.2.2 Cattle
4.2.2.1 Cattle market estimates and forecasts, 2016 - 2028 (USD Billion)
4.2.2.2 Artificial Insemination
4.2.2.2.1 Artificial Insemination market estimates and forecasts, 2016 - 2028 (USD Billion)
4.2.2.3 Hoof Care
4.2.2.3.1 Hoof care market estimates and forecasts, 2016 - 2028 (USD Billion)
4.2.2.4 Diagnostic Services
4.2.2.4.1 Diagnostic Services market estimates and forecasts, 2016 - 2028 (USD Billion)
4.2.2.5 Others
4.2.2.5.1 others market estimates and forecasts, 2016 - 2028 (USD Billion)
4.2.3 Poultry
4.2.3.1 Poultry market estimates and forecasts, 2016 - 2028 (USD Billion)
4.2.3.2 Biosecurity
4.2.3.2.1 Biosecurity market estimates and forecasts, 2016 - 2028 (USD Billion)
4.2.3.3 Reproductive Consulting
4.2.3.3.1 Reproductive Consulting market estimates and forecasts, 2016 - 2028 (USD Billion)
4.2.3.4 Diagnostic Services
4.2.3.4.1 Diagnostic Services market estimates and forecasts, 2016 - 2028 (USD Billion)
4.2.3.5 Others
4.2.3.5.1 Others market estimates and forecasts, 2016 - 2028 (USD Billion)
4.2.4 Swine
4.2.4.1 Swine market estimates and forecasts, 2016 - 2028 (USD Billion)
4.2.4.2 Biosecurity
4.2.4.2.1 Biosecurity market estimates and forecasts, 2016 - 2028 (USD Billion)
4.2.4.3 Reproductive Consulting
4.2.4.3.1 Reproductive Consulting market estimates and forecasts, 2016 - 2028 (USD Billion)
4.2.4.4 Diagnostic Services
4.2.4.4.1 Diagnostic Services market estimates and forecasts, 2016 - 2028 (USD Billion)
4.2.4.5 Others
4.2.4.5.1 Others market estimates and forecasts, 2016 - 2028 (USD Billion)
4.2.5 Other Production Animal Services
4.2.5.1 Others market estimates and forecasts, 2016 - 2028 (USD Billion)
4.3 Companion Animal
4.3.1 Companion animal market estimates and forecasts, 2016 - 2028 (USD Billion)
4.3.2 Dogs
4.3.2.1 Dogs market estimates and forecasts, 2016 - 2028 (USD Billion)
4.3.2.2 Dental care services in dogs
4.3.2.2.1 Dental care services in dogs market estimates and forecasts, 2016 - 2028 (USD Billion)
4.3.2.3 Vaccination services in dogs
4.3.2.3.1 Vaccination services in dogs market estimates and forecasts, 2016 - 2028 (USD Billion)
4.3.2.4 Grooming Services in dogs
4.3.2.4.1 Grooming Services in dogs market estimates and forecasts, 2016 - 2028 (USD Billion)
4.3.2.5 Diagnostic Services in dogs
4.3.2.5.1 Diagnostic Services in dogs market estimates and forecasts, 2016 - 2028 (USD Billion)
4.3.2.6 Others
4.3.2.6.1 Others market estimates and forecasts, 2016 - 2028 (USD Billion)
4.3.3 Cats
4.3.3.1 Cats market estimates and forecasts, 2016 - 2028 (USD Billion)
4.3.3.2 Dental care services in Cats
4.3.3.2.1 Dental care services in Cats market estimates and forecasts, 2016 - 2028 (USD Billion)
4.3.3.3 Vaccination services in Cats
4.3.3.3.1 Vaccination services in Cats market estimates and forecasts, 2016 - 2028 (USD Billion)
4.3.3.4 Grooming Services in Cats
4.3.3.4.1 Grooming Services in Cats market estimates and forecasts, 2016 - 2028 (USD Billion)
4.3.3.5 Diagnostic Services in Cats
4.3.3.5.1 Diagnostic Services in Cats market estimates and forecasts, 2016 - 2028 (USD Billion)
4.3.3.6 Others
4.3.3.6.1 Others market estimates and forecasts, 2016 - 2028 (USD Billion)
4.3.4 Horses
4.3.4.1 Horses market estimates and forecasts, 2016 - 2028 (USD Billion)
4.3.4.2 Hoof care in Horses'
4.3.4.2.1 Hoof care services in horses' market estimates and forecasts, 2016 - 2028 (USD Billion)
4.3.4.3 Dental care services in Horses
4.3.4.3.1 Dental care services in Horses market estimates and forecasts, 2016 - 2028 (USD Billion)
4.3.4.4 Artificial Insemination
4.3.4.4.1 Artificial Insemination market estimates and forecasts, 2016 - 2028 (USD Billion)
4.3.4.5 Grooming Services in Horses
4.3.4.5.1 Grooming Services in horses market estimates and forecasts, 2016 - 2028 (USD Billion)
4.3.4.6 Others
4.3.4.6.1 Others market estimates and forecasts, 2016 - 2028 (USD Billion)
4.3.5 Other companion Animal Services
4.3.5.1 Others market estimates and forecasts, 2016 - 2028 (USD Billion)

Chapter 5 Veterinary Services Market: Regional Estimates & Trend Analysis, by Animal Type
5.1 Veterinary Services Market Shares by Region, 2020 & 2028
5.2 North America
5.2.1 U.S.
5.2.2 Canada
5.3 Europe
5.3.1 U.K.
5.3.2 Germany
5.3.3 France
5.3.4 Spain
5.3.5 Italy
5.3.6 Sweden
5.3.7 Norway
5.3.8 Denmark
5.3.9 The Netherlands
5.4 Asia Pacific
5.4.1 Japan
5.4.2 China
5.4.3 India
5.5 Latin America
5.5.1 Brazil
5.5.2 Mexico
5.6 MEA
5.6.1 South Africa

Chapter 6 Veterinary Services Market Competitive & Vendor Landscape
6.1 Company Profiles
6.1.1 Mars, Incorporated
6.1.1.1 Company overview
6.1.1.2 Financial performance
6.1.1.3 Product benchmarking
6.1.1.4 Strategic initiatives
6.1.2 Greencross Limited
6.1.2.1 Company overview
6.1.2.2 Financial performance
6.1.2.3 Product benchmarking
6.1.2.4 Strategic initiatives
6.1.3 National Veterinary Care Ltd.
6.1.3.1 Company overview
6.1.3.2 Financial performance
6.1.3.3 Product benchmarking
6.1.3.4 Strategic initiatives
6.1.4 Pets at Home Group PLC
6.1.4.1 Company overview
6.1.4.2 Financial performance
6.1.4.3 Product benchmarking
6.1.4.4 Strategic initiatives
6.1.5 CVS Group PLC
6.1.5.1 Company overview
6.1.5.2 Financial performance
6.1.5.3 Product benchmarking
6.1.5.4 Strategic initiatives
6.1.6 Ethos Veterinary Health
6.1.6.1 Company overview
6.1.6.2 Financial performance
6.1.6.3 Product benchmarking
6.1.6.4 Strategic initiatives
6.1.7 Addison Biological Laboratory
6.1.7.1 Company overview
6.1.7.2 Financial performance
6.1.7.3 Product benchmarking
6.1.8 Armor Animal Health (formerly known as Animart LLC)
6.1.8.1 Company overview
6.1.8.2 Financial performance
6.1.8.3 Product benchmarking
6.1.8.4 Strategic initiatives
6.1.9 PetIQ, LLC
6.1.9.1 Company overview
6.1.9.2 Financial performance
6.1.9.3 Product benchmarking
6.1.9.4 Strategic initiatives
6.2 Detailed List of Participants

For more information about this report visit https://www.researchandmarkets.com/r/onnki2

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