(Companies: VCA Inc., Banfield Pet Hospital, Greencross Limited, CVS Group Plc And The Bergh Memorial Animal Hospital ASPCA.)
The global veterinary services market was valued nearly at $98 billion in 2017. North America is the largest market for veterinary services, accounting for almost 45% of the global market. The USA is the largest country in terms of value in the Veterinary Services market.
Veterinary services provide healthcare for animals – especially pets, farm animals, and animals kept in zoos and wildlife parks. Veterinary service segments include animal hospitals and clinics, laboratory services, and pet food and products sold through veterinarians. The subsegments in the animal hospitals and clinics segment include routine examinations, surgical procedures and non-surgical procedures. Major trends shaping the animal hospitals and clinics segment include big data analytics, wearables to monitor pet health, electronic health records, technology implementation, specialty service offerings, premium veterinary services, new vaccines against livestock diseases and stem cells therapy to treat animals.
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Veterinary Services Market Size
The global veterinary services market is expected to grow at an annual growth rate of more than 6% by 2021. The size of the market can be attributed to high pet adoption rates in many countries and the demand for veterinary services for the livestock population. The market is challenged by interest rate increases and global warming.
The global veterinary services market is highly fragmented. Players in the market include VCA Inc., Banfield Pet Hospital, Greencross Limited, CVS Group Plc And The Bergh Memorial Animal Hospital ASPCA.
VCA Inc. was the largest competitor in the veterinary services market in 2017, with nearly 3% share of the market. VCA Inc. is an animal healthcare company operating in the USA and Canada. VCA Inc. provides veterinary services and diagnostic testing. VCA Inc. also supplies diagnostic imaging equipment and other medical technology products and related services to the veterinary market. VCA was acquired by Mars Inc. for around $8 billion in January, 2017, and will be incorporated under the company’s Petcare segment.
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Electronic health records offer an efficient way to collect and store electronic health information about a client’s pets or livestock. Electronic health records accurately represent vital data while ensuring pet history and relevant information which is always accessible and easy to use, in order to increase efficiencies as a result of allowing veterinarians to examine possible trends and long-term changes in the pet’s record.
Insurance Services Aiding Pet Owners – In developed markets the pet insurance industry is offering new product lines for veterinary services. The insurance cover helps pet owners to explore a range of treatment options, ensuring better healthcare of animals. For example, Healthy Paws pet insurance offers insurance for pet illness, accidents, hereditary and congenital conditions, chronic conditions and alternative care.
Major points covered under TOC:
10.Western Europe Veterinary Services Market
- 10.1.Western Europe Veterinary Services Market Overview
- 10.2.Western Europe Veterinary Services Market Historic Growth
- 10.3.Western Europe Veterinary Services Market Forecast Growth
- 10.4.Western Europe Veterinary Services Market, 2017, Split By Segments And Sub-Segments
- 10.5.Western Europe Veterinary Services Market, 2013-2021, Segmentation, Historic And Forecast Growth Rate
- 10.6.UK Veterinary Services Market
- 10.6.1.UK Veterinary Services Market Overview
- 10.6.2.UK Veterinary Services Market Historic Growth
- 10.6.3.UK Veterinary Services Market Forecast Growth
- 10.6.4.UK Veterinary Services Market, 2017, Split By Segments And Sub-Segments
- 10.6.5.UK Veterinary Services Market, 2013-2021, Segmentation, Historic And Forecast Growth Rate
- 10.6.6.UK Veterinary Services Market, By Animal Type
- 10.6.7.UK’s Average Veterinary Services Revenue Per Animal, 2013-2021, $
- 10.7.Germany Veterinary Services Market
- 10.7.1.Germany Veterinary Services Market Historic Growth
- 10.7.2.Germany Veterinary Services Market Forecast Growth
- 10.7.3.Germany Veterinary Services Market, 2017, Split By Segments And Sub-Segments
- 10.7.4.Germany Veterinary Services Market, 2013-2021, Segmentation, Historic And Forecast Growth Rate
- 10.7.5.Germany Veterinary Services Market, By Animal Type
- 10.7.6.Germany’s Average Veterinary Services Revenue Per Animal, 2013-2021, $
- 10.8.France Veterinary Services Market
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