Animal Hospitals And Veterinary Clinics Market Forecast and Insights: Exploring Growth Trends, Market Size, and Emerging Opportunities
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What Are the Primary Drivers Supporting the Market Growth of theAnimal Hospitals And Veterinary Clinics Market?
There is a global surge in the adoption of pets as companions, which is acting as a catalyst for the market of animal hospitals and veterinary clinics. This surge can be attributed to the intensifying humanization of pets since more pet owners are now considering their pets to be part of their family. As per a report by the American Veterinary Medical Association, there exists a relationship between the strength of the human-animal bond and the expenditures on pets. The American Society for the Prevention of Cruelty to Animals (ASPCA) reports that approximately 3.2 million shelter animals find new homes every year in the USA. Furthermore, a study uncovered that Americans shell out around $17 billion on their pet’s healthcare in various establishments like hospitals, clinics, and for food. Similarly, pet owners in China expend more than 5,000 yuan per pet. Due to these factors, the forecast for the animal hospital and veterinary clinic market indicates growth.
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How Has the Animal Hospitals And Veterinary Clinics Market Evolved in Recent Years, and What are the Growth Projections for the Forecast Period?
In recent years, the market size of animal hospitals and veterinary clinics has shown significant growth. The anticipated growth from $78.2 billion in 2024 to $84.43 billion in 2025 allows for a compound annual growth rate (CAGR) of 8.0%. Factors that have been contributing to this growth throughout the historical period include rising pet insurance uptake, greater spending on pet care, an increase in animal health care expenses, and a escalated number of pets.
Over the coming years, the market size of animal hospitals and veterinary clinics is predicted to experience substantial growth, expected to reach $111.58 billion in 2029 with a compound annual growth rate (CAGR) of 7.2%. The surge in the forecast period can be credited to the rise in pet ownership, increased consumption of animal-derived goods, government-backed initiatives, and a rise in disease prevalence in animals. Key trends over the forecast period are predicted to include the deployment of mobile veterinary units, the integration of electronic health records, the application of artificial intelligence in animal care, the creation of advanced screening tests for animals, and a growing focus on e-commerce within the pet care sector.
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What Are the Latest Innovations Influencing theAnimal Hospitals And Veterinary Clinics Market?
An increasing number of veterinary care providers are turning to big data technologies to improve treatment outcomes for pets, livestock, and other animals. This transformative technology can be harnessed for the diagnosis and evaluation of potential diseases. It assists veterinarians in pinpointing disease outbreaks in cattle and pets across different areas and regions. To illustrate, Bayer Healthcare Animal launched apps to detect possible disease indicators in animals, thereby expediting the disease diagnosis and treatment process. Notable veterinary care providers, such as VCA Inc., Banfield Pet Hospitals, and Greencross Limited, are amongst those integrating big data analytics into their approach to pet health care.
Who Are the Major Industry Players Accelerating Growth in theAnimal Hospitals And Veterinary Clinics Market?
Major companies operating in the animal hospitals and veterinary clinics market include Mars Inc, National Veterinary Associates Inc, CVS Group Plc, Apiam Animal Health Limited, Medivet Group Limited, Pets at Home Group Plc, MSPCA-Angell, Veterinary Purchasing Co. Ltd., Greencross Vets Limited, Zabeel Veterinary Hospital, International Center for Veterinary Services, Simplyhealth Group, Paw Veterinary Clinic, Chengdu Vet Hospital, Canberra Veterinary Hospital, Shengpu Pet Hospital, Blacks Vets Dudley Hospital, Frantz Cappe, Clinique Veterinaire Metivet, Alizee Vet Clinic, Cristina Cardone, Abbey House Veterinary Hospital, The Animal Medical Center, Premier Veterinary Group plc, Movet, Primo Veterinary Medicines Trading LLC, ANIMED Veterinary Clinic, Vetwest Animal Hospitals, Veterinary Vinohrady Brno, Centre Vétérinaire Laval, P3 Veterinary Partners, Audrain Veterinary Clinic Fuzzy, Maure, Mimados, Peru Animal Hospital, Miami County Veterinary Clinic, Cindy Fouts, Kokomo Animal Hospital, Royal Veterinary College, AL KUBARA VETERINARY MEDICINES TRADING LLC, Eurovets Veterinary Suppliers, Bryanston Veterinary Hospital (BVH), Kampala Animal Hospital.
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Which Primary Segments of the Animal Hospitals And Veterinary Clinics Market Are Driving Growth and Industry Transformations?
The animal hospitals and veterinary clinics market covered in this report is segmented –
1) By Type: Consultation, Surgery, Medicine, Other Types
2) By Animal Type: Livestock, Companion Animals
3) By End-User: Animal Care, Animal Rescue, Other End Users
Subsegments:
1) By Consultation: Routine Check-ups, Preventive Care, Nutritional Counseling, Behavioral Consultation
2) By Surgery: Soft Tissue Surgery, Orthopedic Surgery, Emergency Surgery, Neutering And Spaying Procedures
3) By Medicine: Vaccinations, Infectious Disease Treatments, Chronic Condition Management, Pain Management
4) By Other Types: Diagnostic Services (Imaging, Lab Tests), Emergency And Critical Care, Rehabilitation And Physiotherapy, Boarding And Grooming Services
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Which Regions Are Key Players in the Growth of the #What Are the Primary Drivers Supporting the Market Growth of theAnimal Hospitals And Veterinary Clinics Market?# Market?
North America was the largest region in the animal hospitals and veterinary clinics market in 2024. Asia-Pacific was the second-largest region in the global animal hospitals and veterinary clinics market. The regions covered in the animal hospitals and veterinary clinics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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