The 2023 report on the “Veterinary Healthcare Market” presents a thorough and accurate examination of different factors pertaining to business expansion prospects, challenges, risk elements, and trends in all geographical regions. This report delivers current information on the most recent technological developments, along with SWOT and PESTLE analysis, and valuable insights on market size.
Global Veterinary Healthcare Market is valued approximately USD 49119.8 Million in 2021 and is anticipated to grow with a healthy growth rate of more than 7.31% over the forecast period 2022-2028.
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According to data from the U.S. Bureau of Economic Analysis and the U.S. Census Bureau, the goods and services deficit increased by $1.9 billion from $68.7 billion in January 2023 to $70.5 billion in February. The increase in the goods and services deficit in February was due to a $2.7 billion increase in the goods deficit to $93.0 billion and a $0.8 billion increase in the services surplus to $22.4 billion. Compared to the same period in 2022, the goods and services deficit has dropped this year by $35.5 billion, or 20.3%. $49.5 billion or 10.8% more was exported. 2.2% or $14.0 billion more was spent on imports.
Veterinary Healthcare offers treatment for both small and large animals with experienced and professional vet services. The major factors driving the growth for the market are increasing prevalence of zoonotic diseases. For instance, according to the World Health Organization (WHO), there are currently over 200 prevailing zoonosis diseases around the world, including new and existing diseases, as of 2020.
According to a UN Food and Agriculture Organization report, the majority of human diseases are spread by animals. Along with this, increasing initiatives by governments and animal welfare associations globally. For instance, in February 2019, the Food and Agriculture Organization of the United Nations (FAO), in collaboration with the Ministry of Fisheries and Livestock, launched a cattle vaccination campaign in the Democratic Republic of the Congo’s provinces of Kwango and Kwilu. Furthermore, the market is creating lucrative opportunity as demand for online veterinary pharmacies in the developed regions is arising.
However, high cost of diagnostic imaging equipment and Veterinary Services is limiting the market growth for Global Veterinary Healthcare Market over the forecasted period.
The key regions considered for the global Veterinary Healthcare market study include Asia Pacific, North America, Europe, Latin America, and the Rest of the World. North America is the leading region across the world in terms of market share owing to the growing adoption of pets in the region. Along with this, high prevalence of zoonosis diseases in the region. Whereas, Asia-Pacific is anticipated to exhibit the highest CAGR over the forecast period 2022-2028. Factors such as the increasing prevalence of rabies and growing awareness for animal born diseases would create lucrative growth prospects for the Veterinary Healthcare market across the Asia-Pacific region.
Major market players included in this report are:
Norbrook
BioChek BV.
bioMerieux SA.
Boehringer Ingelheim International GmbH
Ceva Animal Health LLC
Elanco Animal Health.
Heska Corporation.
Idexx Laboratories
Innovative Diagnostics (IDVet).
INDICAL Bioscience GmbH
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The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed inProductation about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Product
Therapeutics
Diagnostics
By Animal Type
Dogs and Cats
Poultry
Horses
Ruminats
Swine
Other Animals
By Region:
North America
U.S.
Canada
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Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World
Which elements of this study are relevant to market analysis?
- The research offers a thorough analysis of market trends, along with details on regional usage and consumption.
- The growth rates of each area, including their respective nations, are included in market reports for the upcoming years.
- How are the major market players rated?
- A thorough study of the market’s top rivals is provided in this report.
- The study contains details about the major market vendors.
- Each company’s profile, revenue sources, and items produced are all covered in detail in the study.
- Along with the opinions of the top market participants, the study includes data and information about rival companies.
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