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

North America held the largest veterinary healthcare market share in 2022.

The global veterinary healthcare market grew from $180.32 billion in 2022 to $195.77 billion in 2023 at a compound annual growth rate (CAGR) of 8.6%. The veterinary healthcare market is expected to grow from $261.48 billion in 2027 at a CAGR of 7.5%.

Major Driver In The Veterinary Healthcare Market ­– Rise In Meat Production
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 Segments
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

Recent Veterinary Healthcare Market Trend – 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 Prominent Players
Major companies in the veterinary healthcare market include 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.

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The Veterinary Healthcare Global Market Report 2023  provides a comprehensive overview on the veterinary healthcare market size, trends and drivers, opportunities, strategies, and companies 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 Related Reports –
Veterinary Services Global Market Report 2023
Veterinary Antibiotics Global Market Report 2023
Veterinary Vaccines Global Market Report 2023

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