The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

The Business Research Company’s veterinary healthcare market report forecasts the veterinary healthcare market size to grow to $261.48 Billion by 2027, with a CAGR (compound annual growth rate) of more than 7%.

Learn More On The Veterinary Healthcare Market Report 2023 – https://www.thebusinessresearchcompany.com/report/veterinary-healthcare-global-market-report

Veterinary Healthcare Market Size Forecast
The global veterinary healthcare market is expected to grow from $180.32 billion in 2022 to $195.77 billion in 2023 at a compound annual growth rate (CAGR) of 8.6%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, and affecting many markets across the globe. The veterinary healthcare market is expected to grow from $261.48 billion in 2027 at a CAGR of 7.5%.

North America held the largest veterinary healthcare market share.

Key Veterinary Healthcare Market Driver ­– Increase The Demand For Feed Additives In The Livestock Industry
According to the US Department of Agriculture, in 2020, the beef production in the USA reached27.5 billion pounds, the highest production volume registered in the country. Rising meat production is especially prominent in developing countries such as China, India, and Brazil, where increasing populations and rising income levels are stimulating the demand for meat products. By 2027, the production of meat and poultry in emerging markets is expected to increase by 76%. By 2050, China’s meat imports are expected to grow by over 3,500% to $150 billion as consumption of chicken, pork, and beef will surge due to the country’s rising middle class. The rising production of meat products supported by the growing population will increase the demand for feed additives in the livestock industry, driving the veterinary healthcare market.

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Key Veterinary Healthcare Market Trend – Adopting Nanotechnology
Nanotechnology is increasingly gaining traction in the animal medicine market as a substitute for veterinary antibiotics to tackle antibiotic resistance. Nanotechnology is the study of controlling matter on an atomic and molecular scale. In the animal medicine industry is used to improve diagnosis, treatment, animal growth promotion, and production. Nanoparticles are mainly used as alternative antimicrobial agents to reduce the use of antibiotics and improve the detection of pathogenic bacteria. They are also used as drug delivery agents for new drugs and vaccine candidates to improve their characteristics and performance, and to reduce drug resistance in animal organisms.

Veterinary Healthcare Market Segment
1) By Type: Veterinary Services, Veterinary Medical Equipment, Animal Medicine
2) By Product: Instruments/Equipment, Disposables
3) By Animal Type: Dogs and Cats, Horses, Ruminants, Swine, Poultry, Other Animals

Subsegments Covered: Animal Hospitals And Veterinary Clinics, Veterinary Laboratory Testing Services, Veterinary Diagnostic Equipment, Veterinary Anesthesia Equipment, Veterinary Patient Monitoring Equipment, Other Veterinary Medical Equipment, Veterinary Pharmaceuticals, Feed Additives

Veterinary Healthcare Market Major Players and Strategies
Major players in the veterinary healthcare market are Zoetis Inc., Boehringer Ingelheim GmbH, Merck & Co, IDEXX Laboratories, Evonik Industries AG, Patterson Companies Inc., Ceva Animal Health LLC – Biomune; Pets at Home Group PLC, National Veterinary Associates, and Phirbo Animal Health.

The Veterinary Healthcare Global Market Report 2023 covers regional data on veterinary healthcare market size, veterinary healthcare market trends and drivers, opportunities, strategies, and veterinary healthcare market competitor analysis. The countries covered in the veterinary healthcare market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

Veterinary healthcare refers to a healthcare service that is associated with the diagnosis, treatment, and prevention of diseases in animals and the duties of an individual whose job it is to provide medical care for animals who are ill or injured, or to describe such care to reduce transmission of infectious disease from one pet to another.

View More Reports Related To The Veterinary Healthcare Market –
Veterinary Services Global Market Report 2023
Veterinary Antibiotics Global Market Report 2023
Veterinary Diagnostic Equipment Global Market Report 2023

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