Global Veterinary Healthcare Market to Reach USD 83.2 Billion by 2033, Impelled by Rising Concerns Regarding Animal Health

November 20, 2024 | Healthcare

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According to the latest report by IMARC Group, titled "Veterinary Healthcare Market Report by Product (Therapeutics, Diagnostics), Animal Type (Dogs and Cats, Horses, Ruminants, Swine, Poultry, and Others), End User (Veterinary Hospitals, Veterinary Clinics, Veterinary Laboratory Testing Services, and Others), and Region 2025-2033," the global veterinary healthcare market reached a value of USD 46.4 Billion in 2024. Veterinary healthcare refers to the medical specialty primarily involved in the treatment of domestic and wild animals. Additionally, it is engaged in the prevention of illnesses affecting the health of animals and controlling the transmission of zoonotic diseases to humans. Along with this, it offers other services, such as animal procurement and transportation, surgery and perioperative care, laboratory testing, and animal biosecurity and surveillance. It is widely practiced across military services, academic programs, and private and government industries that are supported by veterinary technicians and nurses. The demand for veterinary healthcare is rising across the globe due to the growing production of livestock animals.

Global Veterinary Healthcare Market Trends:

The global market is primarily driven by the increasing pet humanization trend among the masses. The rising concerns regarding animal health among pet owners, along with the inflating disposable income levels of individuals, are creating a positive market outlook. In line with this, the growing prevalence of chronic diseases among animals is providing a boost to the demand for veterinary healthcare facilities across the globe. Moreover, the increasing investments by private and public agencies to upgrade the existing animal healthcare infrastructure is acting as a major growth-inducing factor. Additionally, extensive research and development (R&D) activities conducted by key players for introducing improved and safe animal vaccines and treatment methods are significantly supporting the growth of veterinary healthcare. Other factors, including the easy accessibility to sophisticated veterinary services and diagnostics treatments, the deployment of advanced technologies that assist in diagnosing animal health and the rising strategic collaboration between major players in an attempt to expand their market position, are also favorably influencing the market growth. On account of the aforementioned factors, the market is anticipated to reach a value of USD 83.2 Billion by 2033, registering a CAGR of 6.7% during 2025-2033.

Market Summary:

On the basis of the product, the market has been segregated into therapeutics (vaccines, parasiticides, anti-infectives, medical feed additives and others) and diagnostics (immunodiagnostic tests, molecular diagnostics, diagnostic imaging, clinical chemistry and others).
Based on the animal type, the market has been segmented into dogs and cats, horses, ruminants, swine, poultry and others.
On the basis of the end-user, the market has been categorized into veterinary hospitals, veterinary clinics, veterinary laboratory testing services and others.
Based on the region, the market has been divided into North America (the United States and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia and others), Latin America (Brazil, Mexico and others) and the Middle East and Africa.
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market. Some of these players include Animalcare Group plc, Boehringer Ingelheim International GmbH (C. H. Boehringer Sohn AG & Co. KG), Ceva Animal Health LLC, Dechra Pharmaceuticals PLC, Elanco Animal Health Incorporated, Heska Corporation, IDEXX Laboratories Inc., INDICAL Bioscience GmbH (Vimian Group), Merck & Co. Inc., Norbrook Laboratories Ltd, Vetoquinol India Animal Health Pvt Ltd (Vétoquinol S.A.), Virbac and Zoetis Inc. (Pfizer Inc.).

Report Coverage:

Report Features	Details
Base Year of the Analysis	2024
Historical Period	2019-2024
Forecast Period	2025-2033
Units	Billion USD
Segment Coverage	Product, Animal Type, End User, Region
Region Covered	Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered	United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered	Animalcare Group plc, Boehringer Ingelheim International GmbH (C. H. Boehringer Sohn AG & Co. KG), Ceva Animal Health LLC, Dechra Pharmaceuticals PLC, Elanco Animal Health Incorporated, Heska Corporation, IDEXX Laboratories Inc., INDICAL Bioscience GmbH (Vimian Group), Merck & Co. Inc., Norbrook Laboratories Ltd, Vetoquinol India Animal Health Pvt Ltd (Vétoquinol S.A.), Virbac and Zoetis Inc. (Pfizer Inc.).
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Global Veterinary Healthcare Market to Reach USD 83.2 Billion by 2033, Impelled by Rising Concerns Regarding Animal Health

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