Veterinary Cardiology Market to Grow with a CAGR of 8.31% through 2029
The growing concern
of cardiovascular diseases in pets, expansion of veterinary cardiology services
and rising number of pet owners and increased spending on pet health is
expected to drive the Global Veterinary Cardiology Market growth in the
forecast period through 2025-2029.
According to
TechSci Research report, “Veterinary Cardiology Market – Global Industry
Size, Share, Trends, Competition Forecast & Opportunities, 2029F”, the
Global Veterinary Cardiology Market stood at USD 2.32 billion in 2023 and is
anticipated to grow with a CAGR of 8.31% in the forecast period through 2029.
This can be driven by factors reflecting the evolving role of pets,
advancements in medical technology, and increased awareness of animal health.
As pets, particularly dogs, become integral members of many families, there is
a heightened demand for specialized veterinary services, including cardiology,
to ensure their well-being and longevity. Moreover, this growing emphasis on
comprehensive pet care is fueled by the recognition of pets' emotional roles in
providing companionship and stress relief, leading owners to seek advanced
medical interventions for their animals. Concurrently, significant advancements
in veterinary medicine, such as improved diagnostic technologies such as echocardiography,
electrocardiography, radiography, and cardiac catheterization have enabled more
accurate and timely detection of cardiovascular conditions in pets.
The increasing number of pet owners and their growing expenditure on pet health and wellness contribute to the market's expansion. As pet ownership rates rise globally and the human-animal bond strengthens, pet owners are prioritizing their animals' health and quality of life, leading to higher spending on veterinary services. This trend is particularly pronounced in developed countries where pet ownership is widespread, but it is also gaining traction in emerging markets as disposable incomes rise and awareness of pet health improves. The willingness of pet owners to invest in advanced diagnostic and treatment options reflects a broader societal trend toward treating pets as valued family members and investing in their long-term health.
Additionally, the expansion of veterinary cardiology services within veterinary practices and specialty clinics plays a critical role in market growth. Many veterinary practices are now incorporating cardiology services as part of their comprehensive care offerings, while specialized cardiology clinics and referral centers continue to emerge. This trend is driven by the recognition of cardiology as a crucial aspect of veterinary care, prompting veterinary professionals to acquire specialized training and invest in advanced diagnostic and therapeutic tools. The integration of cardiology into general veterinary practice helps to meet the growing demand for specialized care and facilitates early diagnosis and management of cardiovascular conditions.
Browse over XX
market data Figures spread through XX Pages and an in-depth TOC on "Global Veterinary Cardiology Market”
The Global Veterinary
Cardiology Market is segmented into animal type, product, indication, end use, regional
distribution, and company.
Based on product,
the pharmaceuticals category holds a leading position
in the market of Veterinary Cardiology. This is owing to the pharmacological
treatments are essential for the effective management of a wide range of
cardiovascular diseases in animals. Conditions such as congestive heart
failure, mitral valve disease, and arrhythmias often require ongoing medication
to control symptoms, improve heart function, and extend the quality of life.
The development of specialized drugs tailored for veterinary use has led to
more effective and targeted treatments, contributing to the dominance of
pharmaceuticals in this market. Additionally,
the pharmaceutical category benefits from continuous innovation and
advancements in drug development. Veterinary cardiology has seen significant
progress in creating new and improved medications that address specific
cardiovascular issues in pets. These include novel formulations of existing
drugs, as well as entirely new classes of medications that offer better
efficacy and fewer side effects. The introduction of these advanced
pharmacological solutions has increased their adoption, further solidifying the
dominance of pharmaceuticals in the market.
In Europe, the veterinary
cardiology market is expanding due to higher healthcare spending and ongoing
advancements in cardiology for animals. For instance, the CardioVet
Symposium held in October 2023 by CVS Group was a significant event to advance
cardiology in veterinary practice. This symposium took place at Nailcote Hall
in Coventry and was attended by 100 primary care practitioners and nurses from
various practices across the country.
Major companies
operating in Global Veterinary Cardiology Market are:
- Boehringer Ingelheim
International GmbH
- Jurox Pty Limited
- Ceva Animal Health, LLC
- Merck & Co., Inc.
- IDEXX
- Apex Bio Medicals
- SOUND
- GE HealthCare
- FUJIFILM Holdings America
Corporation
- ESAOTE SPA
Download Free Sample Report
Customers can
also request for 10% free customization on this report
"The
veterinary cardiology market is currently undergoing substantial changes as
innovations in diagnostic techniques and technology reshape how cardiovascular
conditions in pets are assessed and managed. There is a growing emphasis on the
use of sophisticated technologies such as high-resolution echocardiography,
cardiac MRI, and continuous cardiac monitoring systems, which provide enhanced
precision and deeper insights into cardiovascular health in animals.
Additionally, the integration of personalized medicine, involving customized
pharmacological treatments and tailored management plans, is significantly
improving treatment outcomes and efficacy. The market's growth is driven by
these technological advancements, the increasing awareness of cardiovascular
diseases in pets, and a rising demand for specialized care, all contributing to
a dynamic and rapidly evolving veterinary cardiology landscape", said Mr.
Karan Chechi, Research Director of TechSci Research, a research-based
management consulting firm.
“Veterinary Cardiology Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, Segmented By Animal Type (Companion Animals, Production Animals), By Product (Pharmaceuticals, Diagnostics), By Indication (Congestive Heart Failure, Myocardial Disease, Arrythmias, Others), By End Use (Veterinary Hospitals & Clinics, Others), By Region & Competition, 2019-2029F”, has evaluated
the future growth potential of Global Veterinary Cardiology Market and provides
statistics & information on market size, structure and future market
growth. The report intends to provide cutting-edge 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 Cardiology Market.
Contact
TechSci Research LLC
420 Lexington Avenue, Suite 300,
New York, United States- 10170
Tel: +1-332-258-6602
Email: [email protected]
Website: www.techsciresearch.com