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The veterinary healthcare market is forecasted to achieve significant growth in the coming few years with a forecast CAGR (compound annual growth rate) of more than 6%, as per The Business Research Company’s market report!

Read More On The Veterinary Healthcare Market Report 2022 – https://www.thebusinessresearchcompany.com/report/veterinary-healthcare-global-market-report

The Veterinary Healthcare Market Size In 2022 And Forecast

The global veterinary healthcare market is expected to grow from $159.59 billion in 2021 to $176.46 billion in 2022 at a compound annual growth rate (CAGR) of 10.6%. 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, effecting many markets across the globe. The global veterinary healthcare market size is expected to grow to $228.82 billion in 2026 at a CAGR of 6.7%.

The veterinary healthcare market consists of sales of veterinary healthcare goods and services by entities (organizations, sole traders, and partnerships) associated with the diagnosis, treatment, and prevention of diseases in animals.

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Rise In Global Meat Production Is Driving The Growth Of The Veterinary Healthcare Market

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.

Competitive Landscape And The Regional Analysis Of The Veterinary Healthcare Market

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.

Additionally, as per TBRC’s research – North America was the largest region in the veterinary healthcare market in 2021 holding the largest market share.

The Veterinary Healthcare Global Market Report 2022 covers regional data on key drivers, opportunities, and strategies for the seven major regions of the world that are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in the veterinary healthcare market report are Argentina, Australia, Austria, Belgium, Brazil, Canada, Chile, China, Colombia, Czech Republic, Denmark, Egypt, Finland, France, Germany, Hong Kong, India, Indonesia, Ireland, Israel, Italy, Japan, Malaysia, Mexico, Netherlands, New Zealand, Nigeria, Norway, Peru, Philippines, Poland, Portugal, Romania, Russia, Saudi Arabia, Singapore, South Africa, South Korea, Spain, Sweden, Switzerland, Thailand, Turkey, UAE, UK, USA, Venezuela, and Vietnam. The report includes market size and forecast market shares for all the regions and countries with respect to the major players of the veterinary healthcare market.

Nanotechnology – A Key Trend In The Veterinary Healthcare Market

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 Segmentation By The Business Research Company

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

Here Are Some Reports Related To The Veterinary Healthcare Market –

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Animal Hospitals And Veterinary Clinics Global Market Report 2022

Veterinary Patient Monitoring Equipment Global Market Report 2022

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