Report Overview

2023

Base Year

2018-2023

Historical Year

2024-2032

Forecast Year

Global Veterinary Healthcare Market Outlook

The global veterinary healthcare market attained a value of about USD 35.53 billion in 2023. The market is further expected to grow in the forecast period of 2024-2032 at a CAGR of 8.4% to reach nearly USD 73.33 billion by 2032.

Global Veterinary Healthcare Market

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Increasing Pet Ownership Bolstering the Growth of the Veterinary Healthcare Industry

The market for veterinary healthcare is being aided by the growing pet ownership, especially by the millennial and Gen-Z population. Pet parents are increasingly focusing on boosting the quality of life of their pets, due to which the demand for pet vaccines is significantly surging. The demand for optimal animal health is further fuelled by the growing trend of pet therapy and pet humanisation. As the prevalence of pet therapy as an alternative treatment is becoming popular among the young population, the market for veterinary healthcare is poised to grow.

The prevalence of various chronic illnesses in pets is increasing the demand for optimal veterinary healthcare. The rising demand for clinical examination by pet parents is surging the deployment of ultrasound and X-ray technology for diagnosis in pets. As cancer is one of the most common diseases in pets such as cats and dogs, the demand for effective therapeutic treatments for the disease is increasing. Moreover, the rising availability of techniques such as computed axial tomography and magnetic resonance imaging for pets is also bolstering the quality of veterinary healthcare, therefore significantly contributing to the market growth.

Veterinary Healthcare: Market Segmentation

Veterinary healthcare refers to the control, diagnosis, and prevention of diseases, treatments, and injuries, in animals. It is essential to ensure the optimal health of animals. Veterinary healthcare comprises various scientific fields, such as toxicology, microbiology, pathology, radiology, and surgeries. It also prevents the transmission of zoonotic diseases in humans.

Global Veterinary Healthcare Market by Segment

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The major products of veterinary healthcare are:

  • Therapeutics
  • Diagnostics

The therapeutics segment is classified into vaccines, parasiticides, anti-infectives, and medical-feed additives, among others. Meanwhile, the diagnostics segment is divided into immunodiagnostic tests, molecular diagnostics, diagnostic imaging, and clinical chemistry, among others.

The market can be broadly categorised on the basis of its animal types into:

  • Dogs and Cats
  • Horses
  • Ruminants
  • Swine
  • Poultry
  • Others

The EMR report looks into the regional markets of veterinary healthcare like North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Global Veterinary Healthcare Market by Region

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Rapid Adoption of Digital Technology in Veterinary Healthcare to Augment the Market Growth

The rising deployment of digital technologies to monitor animal wellbeing and health is bolstering the growth of the veterinary healthcare industry. In addition, the growing trend of preventive healthcare to reduce health-related costs is increasing the demand for wearable sensors for animals. As wearable devices can provide crucial animal health statistics such as heart rate, pH levels, and respiration rate, among others, they are increasingly preferred by veterinarians to improve healthcare quality. Moreover, developments in veterinary practice management are increasing the accessibility and cost-effectiveness of veterinary healthcare, which is anticipated to augment the growth of the market.

The integration of artificial intelligence (AI) in veterinary healthcare enables real-time predictive analysis and identifies the cause of diseases, due to which it is increasingly used in diagnostics. Moreover, artificial intelligence (AI) is expected to be widely deployed in medical imaging processing to enhance the accuracy and cost-effectiveness of veterinary diagnostics. The increasing integration of artificial intelligence (AI) in various veterinary healthcare research and development (R&D) activities to effectively analyse data is providing further impetus to the market growth.

Key Industry Players in the Global Veterinary Healthcare Market

The report presents a detailed analysis of the following key players in the global veterinary healthcare market, looking into their capacity, market shares, and latest developments like capacity expansions, plant turnarounds, and mergers and acquisitions:

  • Elanco Animal Health
  • CEVA SANTE ANIMALE
  • Vetoquinol S.A.
  • Zoetis Inc.
  • Boehringer Ingelheim International GmbH.
  • BioChek Group
  • Others

The comprehensive report looks into the macro and micro aspects of the industry. The EMR report gives an in-depth insight into the market by providing a SWOT analysis as well as an analysis of Porter’s Five Forces model.

Key Highlights of the Report

REPORT FEATURES DETAILS
Base Year 2023
Historical Period 2018-2023
Forecast Period 2024-2032
Scope of the Report

Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:

  • Product
  • Animal Type
  • Region
Breakup by Product
  • Therapeutics
  • Diagnostics
Breakup by Animal Type
  • Dogs and Cats
  • Horses
  • Ruminants
  • Swine
  • Poultry
  • Others
Breakup by Region
  • North America
    • United States of America 
    • Canada
  • Europe
    • United Kingdom
    • Germany
    • France
    • Italy
    • Others
  • Asia Pacific
    • China
    • Japan
    • India
    • ASEAN
    • Australia
    • Others
  • Latin America
    • Brazil
    • Argentina
    • Mexico
    • Others
  • Middle East and Africa
    • Saudi Arabia
    • United Arab Emirates
    • Nigeria
    • South Africa
    • Others
Market Dynamics
  • SWOT Analysis
  • Porter's Five Forces Analysis
  • Key Indicators for Demand
  • Key Indicators for Price
Competitive Landscape
  • Market Structure
  • Company Profiles
    • Company Overview
    • Product Portfolio
    • Demographic Reach and Achievements
    • Certifications
Companies Covered
  • Elanco Animal Health
  • CEVA SANTE ANIMALE
  • Vetoquinol S.A.
  • Zoetis Inc.
  • Boehringer Ingelheim International GmbH.
  • BioChek Group
  • Others
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Delivery Format Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option.

*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*

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Key Questions Answered in the Report

In 2023, the global veterinary healthcare market attained a value of nearly USD 35.53 billion.

The market is projected to grow at a CAGR of 8.4% between 2024 and 2032.

The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach about USD 73.33 billion by 2032. 

The major market drivers include the rising pet ownership and the growing prevalence of health-related issues in animals.

The key trends supporting the market growth include the integration of artificial intelligence (AI) in veterinary healthcare, the rising trend of preventive healthcare, and the rapid digitisation of veterinary healthcare.

The major regions in the market are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.

The major products considered in the market report are therapeutics and diagnostics.

The significant animal types in the market are dogs and cats, horses, ruminants, swine, and poultry, among others.

The major players in the market are Elanco Animal Health, CEVA SANTE ANIMALE, Vetoquinol S.A., Zoetis Inc., Boehringer Ingelheim International GmbH., and BioChek Group, among others.

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