Veterinary Services Market to Grow with a CAGR of 9.10% through 2028
Rising dependency on animal-derived
products is expected to drive the Global Veterinary Services Market in the
forecast period 2024-2028.
According
to TechSci Research report, “Global Veterinary Services Market –Industry
Size, Share, Trends, Competition, Opportunity and Forecast, 2018-2028”, the Global
Veterinary Services Market stood at USD 111.67 billion in 2022 and is
anticipated to project robust growth in the forecast period with a CAGR of 9.10%
through 2028. This phenomenon can be attributed to the cooperative efforts and
alliances formed by prominent businesses, which employ a varied strategy to
combine the specialized knowledge of each company, thereby enhancing their
market presence. Additionally, the
recent advancements and increasing consumption of animal-derived products,
growing pet expenditure, humanization of pets, increasing initiatives by key
market participants, and rising focus on sustainable animal husbandry.
Veterinary services offer a multitude of advantages
that extend beyond the care and well-being of animals. These services play a
pivotal role in the global Veterinary Services Market, contributing to animal
health, public health, and societal welfare. The foremost advantage of
veterinary services is the promotion of optimal animal health and welfare.
Regular check-ups, preventive care, vaccinations, and specialized treatments
ensure that animals lead healthy and comfortable lives. This not only extends
the lifespan of pets and livestock but also enhances their overall quality of
life.
Veterinary services are instrumental
in preventing and controlling diseases that can affect both animals and humans.
Timely vaccinations and disease monitoring help mitigate the spread of zoonotic
diseases, safeguarding public health and reducing the risk of potential
outbreaks. Veterinarians are trained to identify and diagnose illnesses at an
early stage. Early detection enables prompt treatment and intervention, leading
to improved prognosis and reduced healthcare costs for pet owners and livestock
producers.
Additionally, veterinary services offer access to
advanced medical care, including specialized surgeries, imaging techniques, and
cutting-edge treatments. This enables the management of complex medical
conditions, further enhancing the range of options available for animal care. Veterinarians
provide valuable nutritional advice tailored to an animal's specific needs.
Proper nutrition is crucial for growth, development, and overall health.
Nutritional guidance helps prevent obesity, manage chronic conditions, and
improve overall well-being.
Veterinary professionals offer
behavioral assessments and interventions to address behavioral issues in
animals. By addressing behavioral challenges, they enhance the human-animal
bond and contribute to harmonious relationships between pets and their owners. Veterinary
services provide emergency and critical care, ensuring that animals receive
prompt attention in urgent situations. This quick response can be lifesaving
and prevent further complications. Veterinary professionals play an essential
role in educating pet owners and the general public about responsible pet ownership,
zoonotic disease risks, and animal welfare. This fosters a more informed and
responsible community of pet owners. By promoting animal health and well-being,
veterinary services strengthen the emotional bond between humans and animals.
This bond has positive psychological effects on pet owners, promoting mental
and emotional well-being. Therefore, the veterinary services are essential for
the health, well-being, and harmonious coexistence of animals and humans. The
advantages they offer encompass various aspects of animal care, public health,
and societal progress, making them a cornerstone of the global Veterinary
Services Market.
Moreover, the increasing consumption of
animal-derived products, such as meat, dairy, and other livestock-based products,
significantly influences the growth of the global veterinary services market.
This consumption trend has a multi-faceted impact that extends beyond the food
industry and deeply affects animal health, disease prevention, and overall
well-being. As demand for animal-derived products rises, livestock production
intensifies to meet consumer needs. This heightened production volume exposes
animals to a greater risk of diseases and health challenges, necessitating
robust veterinary services. Veterinarians play a critical role in ensuring the
health and productivity of livestock, from routine check-ups to disease
management, vaccinations, and emergency care. The expansion of livestock
industries to satisfy growing demand also requires adherence to stringent
health and safety regulations. Veterinarians are essential in monitoring and
certifying the health of animals destined for the food supply chain, ensuring
compliance with food safety standards and minimizing the risk of zoonotic
diseases that can transmit from animals to humans.
Furthermore, the intensification of animal
agriculture often involves concentrated animal feeding operations (CAFOs) and
industrial-scale production. These conditions can lead to health and welfare
challenges for animals, such as overcrowding and stress-related illnesses.
Veterinary services are critical in addressing these concerns and implementing
practices that promote animal well-being, aligning with consumer demand for
ethically produced animal-derived products. The growth of the veterinary
services market is also driven by the need for advanced technologies and
practices in livestock management. Veterinarians collaborate with farmers and
producers to implement strategies that improve animal health, reduce disease
transmission, and enhance overall production efficiency. These efforts are
essential for meeting the escalating demand for animal-derived products while
maintaining high standards of animal welfare and health. In summary, the
increasing consumption of animal-derived products has a significant impact on
the growth of the global veterinary services market. Veterinarians play a
pivotal role in ensuring the health, welfare, and safety of animals within the
food supply chain, while also addressing concerns related to disease
prevention, ethical practices, and sustainable production. As.
However, the demand for animal-derived products
continues to rise, the role of veterinary services in maintaining the health of
livestock and safeguarding public health becomes increasingly vital that are expected
to slow down the growth of the Global Veterinary Services Market in the coming
years.
Browse
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"Global Veterinary Services Market.”
The Global Veterinary Services Market segmentation
is based on Animal Type, Service Type, Company, and Region.
Some
of the major companies operating in the Global
Veterinary Services Market include:
- CVS
Group Plc
- Mars
Incorporated
- National
Veterinary Associates
- Pets
at Home Group PLC
- Greencross
Vets
- Fetch!
Pet Care
- IVC
Evidensia
- A
Place for Rover, Inc.
- PetSmart
LLC
- Airpets
International
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“The market has a promising future in
the Asia-Pacific region, owing to the facts like rising pet-ownership,
increased preference of animal related food products, and need to provide
better veterinary services for the production and companion animals. North
America region has higher pet population and better health services for them
thus dominating the market in the forecast period. Governmental aids and new
investments expected to drive the growth of the market during the forecast
period" said Mr. Karan Chechi, Research Director with TechSci Research, a
research-based Global management consulting firm.
Veterinary Services Market - Global Industry Size, Share, Trends, Opportunity,
and Forecast, 2018-2028 Segmented By Animal Type
(Companion Animals, Production Animals), By Companion Animals (Dogs, Cats,
Horses, Others), By Production Animals (Cattle, Poultry, Swine, Others), By Service
Type (Medical Services, Non-Medical Services), By Region, Competition, Forecast and Opportunities, 2028 has
evaluated the future growth potential of Global Veterinary Services Market and
provides statistics & information on market size, structure, and future
market growth. The report intends to provide innovative market intelligence and
help decision makers take sound investment decisions. Besides, the report also
identifies and analyzes the emerging trends along with essential drivers,
challenges, and opportunities in Global Veterinary Services Market.
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