Veterinary Care Market ,trends, share, industry size, growth, demand, opportunities and forecast by 2030

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According to the American Pet Products Association’s National Pet Owner Survey, the United States spent a total of USD 69.5 billion on the pet sector in 2017, and that figure is expected to rise to USD 103.6 billion by the end of 2020.

Market Overview

Veterinary care is an essential component of any animal care and use programme. The veterinarian’s primary responsibility is to monitor animals’ health and clinical care in research, testing, teaching, and production. This includes monitoring and promoting animal well-being at all times during animal use and throughout the animal’s life.

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Global Veterinary Care Market Dynamics

Drivers

Rise in veterinary services

According to an AmerisourceBergen Corporation report, veterinary services in the United States decreased by 31% in the first quarter of 2020 compared to the previous year. The vaccination programme has also been reduced by 19% over the last year. However, the market showed a V-shaped recovery in the second quarter of 2020, and clinics began to rebound as services increased by 10% in the second quarter of 2020 compared to last year. Senior wellness bloodwork showed the greatest positive growth of 24% over the previous year. The above-mentioned factors are boosting the market growth.

Rising pet population

An increase in dog population and an increase in rabies deaths are expected to result in a large number of vaccination programmes, driving segment growth. Domestic dogs are among the most common virus reservoirs. They are the primary cause of human rabies deaths, accounting for nearly 99% of all rabies transmissions to individuals. Diagnostic services accounted for a sizable portion of the market, owing to rising demand for rapid tests and portable devices for Point-of-Care (POC) services. The aforementioned factors are anticipated to drive market growth during the forecast period.

Opportunities

Collaborations and initiatives

The collaborative initiative brings together clinical care, disease surveillance, control, and education and research to improve epidemic management. During the forecast period, the rising number of government initiatives to promote better veterinary care are fuelling the market’s overall growth. For instances, Ruminant Health and Welfare Group in September 2019 to provide an organized approach to addressing sheep and cattle health issues. Similarly, the Los Angeles County Department of Public Health’s Veterinary Public Health Program launched the 2020 Healthy Pets Healthy Families Initiative to track trends in animal health and improve both animal and human health.

Some of the major players operating in the veterinary care market are:

Zoetis (U.S.)
Merck KGaA (Germany)
Boehringer Ingelheim International GmbH. (Germany)
Elanco (U.S.)
Ceva (France)
Phibro Animal Health Corporation (U.S.)
Abaxis (U.S.)
Virbac (France)
IDEXX Laboratories, Inc. (U.S.)
NEOGEN CORPORATION (U.S.)
Heska Corporation (U.S.)
MSD Animal Health (U.S.)
Novartis AG (Switzerland)
Cargill Incorporated (U.S.)
DSM (Netherlands)
Mars, Incorporated (U.S.)

Key questions answered in the Veterinary Care Market are:

- What is Veterinary Care Market?
- What was the Veterinary Care Market size in 2022?
- What are the different segments of the Veterinary Care Market?
- What growth strategies are the players considering to increase their presence in Veterinary Care Market?
- What are the upcoming industry applications and trends for the Veterinary Care Market?
- What are the recent industry trends that can be implemented to generate additional revenue streams for the Veterinary Care Market?
- What major challenges could the Veterinary Care Market face in the future?
- What segments are covered in the Veterinary Care Market?
- Who are the leading companies and what are their portfolios in Veterinary Care Market?
- What segments are covered in the Veterinary Care Market?
- Who are the key players in the Veterinary Care Market?