Veterinary Care Market Anticipated Forecast 2028 In Key Regions

Veterinary Care Industry Overview

The global veterinary care market size is expected to reach USD 114.4 billion by 2028, registering a CAGR of 5.4% over the forecast period, according to a new report by Grand View Research, Inc. Increasing number of government initiatives to safeguard food security is likely to boost the adoption of better veterinary care worldwide. A significant increase in pet adoption and humanization worldwide is mostly responsible for the high need for veterinary care, which is boosting the market growth.

Veterinary Care Market Segmentation

Grand View Research has segmented the global veterinary care market on the basis of animal type, type of care, and region:

Based on the Animal Type Insights, the market is segmented into Companion Animal and Production Animal.

• The companion animals segment held the largest revenue share of over 60.00% of the global market in 2020. This can be attributed to the growing initiatives by market players, rising pet population, and increasing pet expenditure. Increasing demand for effectual monitoring and growing awareness related to epidemiology and pathogenesis of diseases in companion animals are encouraging organizations, such as European Scientific Counsel Companion Animal Parasites and Companion Animal Parasite Council, to take appropriate measures.
• The COVID-19 pandemic is encouraging pet owners, healthcare providers, and even payers to adopt telehealth in veterinary care. In October 2020, online pet pharmacy, Chewy Inc., brought telehealth to cats, dogs as pandemic disturbed vet visits. Among companion animals, dogs held the largest share in 2020. Pet owners invest heavily in canine healthcare, which is expected to provide significant opportunities for segment growth during the forecast period.

Based on the Type Of Care Insights, the market is segmented into Companion Animal and Production Animal.

• The primary care segment held the largest revenue share of over 58% among the companion animal segment. Primary care includes physical examinations, vaccinations, lab testing, parasite prevention, diagnostic testing, behavioral counseling, training, diet, dental health & cleaning among others.
• The veterinary care services for production animals also held a major share in 2020. Policymakers in numerous nations are striving to attain total food security, which supplements large-scale food production and results in superior rearing of livestock.

Veterinary Care Regional Outlook

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa (MEA)

Key Companies Profile & Market Share Insights

The market is fragmented with the presence of many large- and small-scale players. These players implement various strategic initiatives to achieve their growth objectives and increase market share. New product launches, partnerships & collaborations, expansion of local and regional footprint, and mergers & acquisitions are some of the initiatives deployed by key companies.

Some of the prominent players operating in the global veterinary care market include,

• Merck Animal Health
• Ceva Santé Animale
• Zoetis
• Boehringer Ingelheim GmbH
• Elanco
• IDEXX Laboratories, Inc.
• Heska Corporation
• Virbac
• Vetoquinol S.A.
• Indian Immunologicals Ltd.

Order a free sample PDF of the Veterinary Care Market Intelligence Study, published by Grand View Research.