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Veterinary Clinics Services Market To Reach USD 188.79 Billion By Year 2030

Veterinary Clinics Services Market Size Was Valued at USD 102 Billion in 2022 and is Projected to Reach USD 188.79 Billion by 2030, Growing at a CAGR of 8 % From 2023-2030.

25-01-2024
Swati Kalagate
Healthcare
Pristine Intelligence

Market Overview:

Veterinary Clinics Services Market Size Was Valued at USD 102 Billion in 2022 and is Projected to Reach USD 188.79 Billion by 2030, Growing at a CAGR of 8 % From 2023-2030.

The Veterinary Clinics Services Market is a dynamic sector that provides medical care and services for animals, encompassing a wide range of species, including pets, livestock, and exotic animals. The market has witnessed significant growth due to increasing pet ownership, rising awareness about animal health, and advancements in veterinary medicine. Key services offered by veterinary clinics include preventive care, diagnostic procedures, surgical interventions, dental care, and emergency services. With the growing human-animal bond, pet owners are increasingly seeking advanced and specialized veterinary services, driving the market's expansion. Technological advancements, such as digital imaging, telemedicine, and electronic health records, have enhanced diagnostic capabilities and streamlined communication between veterinarians and pet owners. Additionally, an emphasis on preventive healthcare and wellness programs for pets has become a prominent trend in the market.

Top Key Players Covered in The Veterinary Clinics Services Market:

    • Mars, Incorporated
    • Idexx Laboratories Inc.,
    • CVS Group Plc
    • Vetpartners
    • Petiq LLC
    • Ethos Veterinary Health
    • Grrencross Vets
    • National Veterinary Care Ltd.
    • Pets at Home Group Plc
    • Armor Animal Health (formerly known as animart llc)
    • Addison Biological Laboratory
    • Kremer Veterinary Sevices
    • Firstvet AB, and Other Major Players

Market Dynamics and Factors:           

The driving factors for the Veterinary Clinics Services Market include increasing pet ownership, rising awareness about animal health, and advancements in veterinary care. Pet humanization trends and a growing focus on preventive healthcare contribute to the market's expansion. Opportunities lie in technological innovations like telemedicine, expanding service offerings, and global market penetration. However, challenges such as stringent regulations, shortage of skilled veterinarians, and economic constraints can act as restraints. The market's growth is also influenced by factors like the evolving landscape of veterinary pharmaceuticals and the impact of zoonotic diseases. In summary, the Veterinary Clinics Services Market is driven by a surge in pet care awareness and ownership, with opportunities in technological advancements, while facing constraints like regulatory hurdles and resource shortages.

The Veterinary Clinics Services Market Report Highlight:

    • By Animal type, the Food Producing Animals services segment is expected to be the key driver of growth in the Veterinary Clinics Services market. This expansion is attributed to the rising demand for veterinary services in the management and healthcare of animals involved in food production, reflecting the increasing awareness of animal health and welfare in the agriculture sector.
    • By Service type, the Diagnostic Tests & Imaging segment is expected to be the key driver of growth in the Veterinary Clinics Services market. Increasing demand for advanced diagnostic procedures, rising pet healthcare awareness, and technological advancements contribute to the expansion. This sector plays a pivotal role in enhancing veterinary care and ensuring accurate diagnoses for improved animal health outcomes.
    • By Delivery Channel, Hospitals and Clinics sector is expected to drive the growth of the Veterinary Clinics Services market. This expansion reflects increasing demand for veterinary services, emphasizing the crucial role of clinics in providing comprehensive care for animals, driving growth in the veterinary healthcare industry.
    • By Region, The Asia Pacific region anticipates substantial growth in the Veterinary Clinics Services Market. Increased pet ownership, rising awareness of animal healthcare, and advancements in veterinary services contribute to the expansion. The region's economic development and evolving pet care trends are driving the demand for veterinary clinics and services in this dynamic market.

Key Industry Development:

In October 2023, EQT acquired VetPartners. The largest veterinary services provider in Australia and New Zealand, VetPartners, was acquired by private equity firm EQT for a significant sum. This move aims to expand VetPartners' presence in the region and invest in technology, recruitment, and innovation.

In April 2023, Mars acquired Heska. Consumer giant Mars expanded its pet care portfolio by acquiring Heska, a global leader in advanced veterinary diagnostics and specialty products. This deal strengthens Mars' presence in the growing diagnostic market and enhances its ability to offer integrated pet health solutions.

In September 2023, VCA Animal Hospitals acquired Village Veterinary Group Canada's VCA Animal Hospitals expanded its reach in Nova Scotia by acquiring Village Veterinary Group, a group of four established clinics. This acquisition strengthens VCA's presence in the region and allows them to serve more pet owners.

The Veterinary Clinics Services Market Segmentation:

By Service Type

    • Diagnostic Tests & Imaging
    • Physical Health Monitoring
    • Surgery
    • Artificial Insemination
    • Grooming
    • Others (Vaccination, Biosecurity, Dental Care, etc.)

By Animal Type

    • Food Producing Animals
    • Cattle
    • Pigs
    • Sheep & Goats
    • Poultry

By Delivery Channel

    • Hospitals and Clinics
    • Commercial Facilities
    • Outdoors/Ambulatory

For this report, Introspective Market Research has segmented the Veterinary Clinics Services Market based on region:

Regional Outlook (Revenue in USD Million; Volume in Units, 2023-2030)

North America

    • The U.S.
    • Canada
    • Mexico

Eastern Europe

    • Russia
    • Bulgaria
    • The Czech Republic
    • Hungary
    • Poland
    • Romania
    • Rest of Eastern Europe

Western Europe

    • Germany
    • UK
    • France
    • Netherlands
    • Italy
    • Spain
    • Rest of Western Europe

Asia Pacific

    • China
    • India
    • Japan
    • Singapore
    • Australia
    • New-Zealand
    • Rest of APAC

Middle East & Africa

    • Turkey
    • Saudi Arabia
    • Qatar
    • UAE
    • Israel
    • South Africa

South America

    • Brazil
    • Argentina
    • Rest of SA
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