San FranciscoAnd January 24, 2022 /PRNewswire/ – The global veterinary hospital market size is expected to be to reach 125.07 billion US dollars By 2030, record a compound annual growth rate of 5.7% over the forecast period, according to a new report from Grand View Research, Inc. The boom in pet numbers is driving market growth. According to the American Veterinary Medical Association, over the next ten years, the number of dogs and cats in the United States is expected to increase dramatically. The dog population is likely to rise from 85 million in 2020 to more than 100 million by 2030. While the cat population is likely to rise massively, from 65 million to more than 82 million. This rise in pet numbers will drive the market. Despite the difficulties and new ways of working posed by the COVID-19 pandemic, the numbers of clients are increasing in many hospitals.
Key insights and findings from the report:
- In terms of revenue, the pharmaceutical segment dominated the market in 2021. High demand for animal products, such as chicken and milk, encourages farmers to adopt vaccines for their animals to increase profitability
- The surgery type segment is estimated to post a profitable compound annual growth rate (CAGR) during the forecast period due to increasing expenditures on pet insurance and healthcare and increasing incidences of chronic diseases in pets.
- Companion animals dominated the animal species sector in 2021 due to the increasing trend of humanization of pets
- The private sector led the market in 2021 due to the increasing disposable income and the desire to pay premium prices for veterinary services among owners
- Asia Pacific It is expected to experience a profitable compound annual growth rate (CAGR) during the forecast period due to increased vigilance about animal health and rapid urbanization
- in a February 2020, DCC Animal Hospital (Dogs Cats & Companions) has announced the launch of a chain of multi-specialty animal hospitals across India. These hospitals will be advanced and equipped with innovative medical infrastructure and expertise
- Industry players participate in strategic initiatives, such as business expansion, mergers and acquisitions, and geographical expansion to gain higher market shares
- For example, in June 2021CVS Group announced the establishment of a new state-of-the-art specialized veterinary hospital in BristolWhich will open in 2022, with the latest technologies and treatments in all disciplines
Read this 150-page market research report,”Veterinary Hospitals Market Analysis Report Size, Share, and Trends by Type (Medical, Surgery), By Animal Type (Companion, Farm Animals), By Sector (Private, Public), By Region (Asia Pacific, Europe), and sectoral forecasts, 2022 – 2030‘, by Grand View Research
In addition, veterinary practice activity in the United States has fluctuated, but overall, demand remains high. According to Veterinary Industry Tracker, revenue per practice was up 13.3% year over year (November 2020 to November 2021). Customer visits rose 5.1% over the same period. In many homes around the world, pets are seen as an essential member of the family. There is a growing trend of humanization of pets, which has led to an increase in average spending on pet care. Thus, the humanization of pets was set to drive sales of veterinary services. This trend will be driven by the growing population of small animals along with economic growth in developing markets. Improvements in technology have advanced veterinary care.
Technology is becoming more affordable and more practices around the world can adopt MRI and CT scan machines. Digital dental x-rays and innovative oral surgery tools allow veterinarians to advance the oral care of companion animals. Continuous developments are also addressing health issues in pets, not only within hospitals, but on a holistic basis for better care and prevention. Access to veterinary health care is relatively disadvantaged in most developing and some developed countries. For example, according to a survey conducted in 2020 by the Federation of Veterinarians Europe, rural and remote areas of Ireland They have a shortage of vets. similarly, England He also suffers from a shortage of veterinarians in rural areas. This may restrict market growth to some extent.
Grand View Research has segmented the global veterinary hospital market into segments on the basis of type, animal type, sector, and region:
- Veterinary Hospital Quality Outlook (Revenue, billion USD, 2017 – 2030)
- Animal Species Outlook in Veterinary Hospitals (Revenue, billion USD, 2017 – 2030)
- companion animals
- farm animals
- Veterinary Hospitals Sector Outlook (Revenue, billion USD, 2017 – 2030)
- Regional Outlook for Veterinary Hospitals (Revenue, billion USD, 2017 – 2030)
- North America
- United kingdom
- Asia Pacific
- Latin america
- Middle east And Africa (Mine)
- Kingdom Saudi Arabia
- South Africa
List of Major Players in Veterinary Hospitals Market
- CVS PLC Group
- Greencross Fits
- Veterinary Health Ethos
- Pets at Home Group PLCMars, Inc.
- Animal Hospital, Inc.
- All pets animal hospital
- Cahaba Valley Animal Clinic
- Blaine Central Veterinary Clinic
- beltown veterinary center
Check out more studies related to veterinary care, published by Grand View Research:
- Telemarketing for veterinary services The global market for remote veterinary services has been assessed 119.6 million USD in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 17.6% from 2022 to 2030. The increased adoption of these management systems can be attributed to the steady growth in focus on veterinary telehealth along with disease detection.
- veterinary oncology market The global veterinary oncology market size has been estimated 199.9 Million USD In 2019 it is expected to experience a compound annual growth rate of 10.7% during the forecast period. The increasing prevalence of cancer among pets and the increasing reliance on veterinary cancer treatment as a treatment method are driving the growth of the market.
- Veterinary Dental Equipment Market Estimated size of the global veterinary dental equipment market 324.1 million USD In 2018 it is expected to experience a compound annual growth rate of 7.7% over the forecast period, primarily driven by the increased prevalence of periodontal disease.
Browse through Grand View Research’s coverage of global animal health industry.
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About Grand View Research
Grand View Research, a US-based market research and consulting firm, provides combined and customized research reports and advisory services. registered in California based in San FranciscoWith over 425 analysts and consultants, the company adds more than 1,200 market research reports to its extensive database each year. These reports provide an in-depth analysis of 46 industries in 25 major countries around the world. With the help of an interactive market information platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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