Veterinary Services Market by Service Type (Diagnostic Tests & Imaging, Surgery, Physical Health Monitoring, Vaccination), Animal Type (Food-producing, Companion), Delivery Channel (Hospitals & Clinics, Commercial facilities), and Region - Global Forecast to 2027
The global veterinary services market size is projected to reach USD 139.2 billion by 2027 from USD 100 billion in 2022, at a CAGR of 7% during the forecast period. Market is driven by factors such as growing awareness for pet health, Increasing prevalence of various diseases in animals or zoonotic diseases, and rising demand for effective medical care. On the other hand, high cost of veterinary services and shortage of skilled personnel is expected to limit market growth to a certain extent in the coming years.
Favorable initiatives by governments and market players to provide veterinary services are expected to drive growth of the global veterinary services market. For instance, in May 2020, Ministry of Fisheries, Animal Husbandry & Dairying, Government of India, launched mobile veterinary units (MVUs) in order to provide veterinary services at the farmers’ doorstep. The overall aim of the ‘Livestock Health & Disease Control programme’ of Government of India is to improve animal health.
Veterinary Services Market
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The companion animal segment accounted for the largest market share in the veterinary services market, by animal type, during the forecast period”
The Veterinary services market is segmented into food producing animals & companion animals, by animal type. In 2021, companion animal segment accounted for the largest market share in the veterinary services market, by animal type. Advancements and developments in veterinary services coupled with the increasing adoption of companion or pet animals are attributed to the market growth.
The surgery segment accounted for the largest market share in the veterinary services market, by service type, during the forecast period
The Veterinary services market is segmented into diagnostic tests & imaging, physical health monitoring, surgery, artificial insemination, vaccination, grooming, and others (biosecurity, dental care, etc.). In 2021, the surgery segment accounted for the largest market share in the veterinary services market. The growth of the segment can be attributed to the rising prevalence of diseases among animals, increasing need for medical assistance to the pets.
“APAC region accounted for the highest CAGR”
The global veterinary services market is divided into five regions: North America, Asia-Pacific, Europe, Latin America, and the Middle East and Africa. According to the regional analysis, the Asia-Pacific region is likely to retain a significant market share in 2021 and the future. The Asia-Pacific Veterinary services market is being propelled by the factors, such as growing pet population and pet health issues, increased demand for products such as meat and milk, increased disposable income are expected to drive the market in the Asia Pacific region.
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Competitive Landscape
Key Industry Developments:
The key market players are involved in strategic collaborations, regional expansions, and new product launches to sustain the competition. Established organizations and large enterprises are investing in acquisitions of other market players to gain a competitive edge. In June 2021, The Seven Hills Veterinary Hospital, for example, monitored the number of referrals for urgent treatment in its phones placed under emergency or urgent cases and noted a surge in that category.
Furthermore, there have been numerous developments globally for the proper management and accessibility of veterinary services and veterinary medicine to companion animals, which is likely to drive market growth. For instance, in November 2021, award-winning animal hospital Paragon Veterinary Referrals has become the first veterinary center in the United Kingdom to launch a pioneering superficial radiation therapy (SRT) service for pets.
The primary interviews conducted for this report can be categorized as follows:
- By Company Type: Tier 1 - 40%, Tier 2 - 30%, and Tier 3 - 30%
- By Designation: C-level - 27%, D-level - 18%, and Others - 55%
- By Region: North America - 51%, Europe - 21%, Asia Pacific - 18%, Latin America – 6% , and the Middle East & Africa – 4%
Lits of Companies Profiled in the Report:
- 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
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Scope of the Report
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|
Report Metric |
Details |
|
Market size available for years |
2020–2027 |
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Base year considered |
2021 |
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Forecast period |
2022–2027 |
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Forecast units |
Million/Billion (USD) |
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Segments covered |
Service Type, Animal Type, Delivery Channel, and region. |
|
Geographies covered |
North America, Europe, Asia Pacific, Latin America, and Middle East and Africa |
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Companies covered |
Mars Incorporated, IDEXX Laboratories Inc, CVS Group plc, VetPartners, Ethos Veterinary Health, PetIQ, LLC., and Kremer Veterinary Services, among others. |
The study categorizes the veterinary services market based on service type, animal type at regional and global level.
Veterinary Services Market, By Service Type
- Diagnostic Tests & Imaging
- Physical Health Monitoring
- Surgery
- Artificial Insemination
- Grooming
- Vaccination
- Others (Biosecurity, Dental Care, etc.)
Veterinary Services Market, By Animal Type
- Food Producing Animals
- Cattle
- Pigs
- Sheep & Goats
- Poultry
- Others
- Companion Animals
- Cats
- Dogs
- Horses
- Others
Veterinary Services Market, By Delivery Channel
- Introduction
- Hospitals and Clinics
- Commercial Facilities
- Outdoors/Ambulatory
- Others
Veterinary Services Market, by Region
- North America
- US
- Canada
- Europe
- Germany
- France
- UK
- Italy
- Spain
- Rest of Europe
- Asia Pacific
- Japan
- China
- India
- Rest of Asia Pacific
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
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TABLE OF CONTENTS
1 INTRODUCTION
1.1 OBJECTIVES OF THE STUDY
1.2 MARKET DEFINITION
1.2.1 INCLUSIOND AND EXCLUSIONS
1.2.2 MARKETS COVERED
1.2.3 YEARS CONSIDERED FOR STUDY
1.3 CURRENCY
1.4 LIMITATIONS
1.5 STAKEHOLDERS
1.6 SUMMARY OF CHANGES
2 RESEARCH METHODOLOGY
2.1 RESEARCH APPROACH
2.2 MARKET SIZE ESTIMATION
2.3 MARKET BREAKDOWN AND DATA TRIANGULATION
2.4 MARKET SHARE ESTIMATION
2.5 SECONDARY SOURCES
2.5.1 KEY DATA FROM SECONDARY SOURCES
2.6 PRIMARY SOURCES
2.6.1 KEY DATA FROM PRIMARY SOURCES
2.6.2 KEY INDUSTRY INSIGHTS
2.7 ASSUMPTIONS FOR THE STUDY
2.8 RISK ASSESSMENT
3 EXECUTIVE SUMMARY
4 PREMIUM INSIGHTS
5 MARKET OVERVIEW
5.1 INTRODUCTION
5.2 KEY MARKET DYNAMICS
5.2.1 MARKET DRIVERS
5.2.2 RESTRAINTS
5.2.3 OPPORTUNITIES
5.2.4 CHALLENGES
6 INDUSTRY INSIGHTS
6.1 INDUSTRY TRENDS
6.2 REGULATORY ANALYSIS
6.2.1 REGULATORY BODIES, GOVERNMENT AGENCIES AND OTHER ORGANIZATIONS
6.3 MARKET ECOSYSTEM ANALYSIS
6.4 TECHNOLOGY ANALYSIS
6.5 KEY CONFERENCES & EVENTS IN2022-23
6.6 KEY STAKEHOLDERS & BUYING CRITERIA
6.6.1 KEY STAKEHOLDERS IN BUYING PROCESS
6.6.2 BUYING CRITERIA
NOTE-IN SECTION 6, GIVEN ANLYSIS ARE BASED ON PRELIMINARY RESEARCH AND MAY VARY IN THE FINAL REPORT
7 VETERINARY SERVICES MARKET, BY SERVICE TYPE
7.1 INTRODUCTION
7.2 DIAGNOSTIC TESTS & IMAGING
7.3 PHYSICAL HEALTH MONITORING
7.4 SURGERY
7.5 ARTIFICIAL INSEMINATION
7.6 VACCINATION
7.7 GROOMING
7.8 OTHERS (BIOSECURITY, DENTAL CARE, ETC.)
8 VETERINARY SERVICES MARKET, BY ANIMAL TYPE
8.1 INTRODUCTION
8.2 FOOD PRODUCING ANIMALS
8.2.1 CATTLE
8.2.2 PIGS
8.2.3 SHEEPS & GOATS
8.2.4 POULTRY
8.2.5 OTHER FOOD PRODUCING ANIMALS
8.3 COMPANION ANIMALS
8.3.1 CATS
8.3.2 DOGS
8.3.3 HORSES
8.3.4 OTHER COMPANION ANIMALS
9 VETERINARY SERVICES MARKET, BY DELIVERY CHANNEL
9.1 INTRODUCTION
9.2 HOSPITALS & CLINICS
9.3 COMMERICAL FACILITIES
9.4 OUTDOORS/AMBULATORY
9.5 OTHERS
10 VETERINARY SERVICES MARKET, BY REGION
10.1 INTRODUCTION
10.2 NORTH AMERICA
10.2.1 US
10.2.2 CANADA
10.3 EUROPE
10.3.1 UK
10.3.2 FRANCE
10.3.3 GERMANY
10.3.4 SPAIN
10.3.5 ITALY
10.3.6 REST OF EUROPE
10.4 ASIA-PACIFIC
10.4.1 JAPAN
10.4.2 CHINA
10.4.3 INDIA
10.4.4 REST OF ASIA-PACIFIC
10.5 LATIN AMERICA
10.6 MIDDLE EAST & AFRICA
11 COMPETITIVE LANDSCAPE
11.1 OVERVIEW
11.2 MARKET EVALUATION FRAMEWORK
11.3 PRODUCT PORTFOLIO MATRIX
11.3.1 COMPANY END USER FOOTPRINT
11.3.2 COMPANY PRODUCT FOOTPRINT
11.3.4 COMPANY PRODUCT FOOTPRINT
11.4 MARKET SHARE/RANKING ANALYSIS (2021)
11.5 GEOGRAPHIC REACH OF THE TOP MARKET PLAYERS
11.6 R&D EXPENDITURE: KEY PLAYERS IN THE MARKET
11.7 COMPETITIVE SITUATIONS AND TRENDS
11.7.1 DEALS
11.7.2 OTHER DEVELOPMENTS
11.7.3 PRODUCT LAUNCHES & APPROVALS
11.8 COMPANY EVALUATION QUADRANT
11.8.1 STARS
11.8.2 EMERGING LEADERS
11.8.3 PERVASIVE PLAYERS
11.8.4 PARTICIPANTS
11.9 START-UP/SME EVALUATION QUADRANT
11.9.1 PROGRESSIVE COMPANIES
11.9.2 STARTING BLOCKS
11.9.3 RESPONSIVE COMPANIES
11.9.4 DYNAMIC COMPANIES
11.1 COMPETITIVE BENCHMARKING
12 COMPANY PROFILES
12.1 INTRODUCTION
12.2 MARS, INCORPORATED
12.3 IDEXX LABORATORIES INC.,
12.4 CVS GROUP PLC
12.5 VETPARTNERS
12.6 PETIQ LLC
12.7 ETHOS VETERINARY HEALTH
12.8 GRRENCROSS VETS
12.9 NATIONAL VETERINARY CARE LTD.
12.1 PETS AT HOME GROUP PLC
12.11 ARMOR ANIMAL HEALTH (FORMERLY KNOWN AS ANIMART LLC)
12.12 ADDISON BIOLOGICAL LABORATORY
12.13 KREMER VETERINARY SEVICES
12.14 FIRSTVET AB
13 APPENDIX
13.1 INSIGHTS OF INDUSTRY EXPERTS
13.2 DISCUSSION GUIDE
13.3 KNOWLEDGE STORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL
13.4 INTRODUCING RT: REAL-TIME MARKET INTELLIGENCE
13.5 AVAILABLE CUSTOMIZATIONS
13.6 RELATED REPORTS
13.7 AUTHOR DETAILS
Note:
The factors mentioned in the ToC are based on preliminary research and may vary in the final report
The list of companies mentioned above is indicative only and might change during the study
The top25 leading market players would be profiled in the report
Details on key financials might not be captured in the case of unlisted companies
The global veterinary services market is projected to grow substantially during the forecast period. The major factors driving the growth of the veterinary services market include the rising implementation of digital solutions in veterinary services industry, increasing affection between pet owners and their pets coupled with rising disposable income as well as surging market penetration of different pet insurance schemes, and increasing prevalence of zoonotic diseases. However, on the other hand, high annual costs and overall animal expenditure, shortage of skilled personnel, and the increasing cost of veterinary services are anticipated to hamper the market growth.
In this report, veterinary services market, by the service type, animal type, delivery channel, and region are covered
Methodology
This research study involved the extensive use of both primary and secondary sources. Various factors affecting the industry were studied to identify segmentation types; industry trends; key players; the competitive landscape of the market; and key market dynamics, such as drivers, restraints, opportunities, challenges, and key player strategies.
Secondary Research
This research study involved the use of secondary sources; directories; databases such as Dun & Bradstreet, Bloomberg Businessweek, and Factiva; white papers; annual reports; and Companies’ House documents. Secondary research was used to identify and collect information for this extensive, technical, market-oriented, and commercial study of the veterinary services market. It was also used to obtain important information about the top players, market classification, segmentation according to industry trends to the bottom-most level, geographic markets, and key developments related to the market. A database of the key industry leaders was also prepared using secondary research.
Primary Research
In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information. The primary sources from the supply side include CEOs, vice presidents & managing directors, marketing heads, directors and sales directors, marketing managers, regional/area sales managers, product managers, technology experts of veterinary services. Primary sources from the demand side include industry experts such as directors of hospitals and veterinarians.
A breakdown of the primary respondents is provided below:
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Market Size Estimation
The total size of the veterinary services market was arrived at after data triangulation from three different approaches, as mentioned below. After each approach, the weighted average of approaches was taken based on the level of assumptions used.
Data Triangulation
The size of the veterinary services market was estimated through segmental extrapolation using the bottom-up approach. The methodology used is as given below:
- Major players across the service type segment were determined through secondary sources (validated through primary respondents).
- The approximate revenue share of top players was collected through secondary sources.
- The total share of the service type segment was determined in the veterinary services segment to derive its revenue.
The total revenue in the global veterinary services market was determined by extrapolating the service type segment revenue.
Global Veterinary Services Market Size: Top-Down Approach
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Objectives of the Study
- To define, describe, and forecast the veterinary services market based on service type, animal type, delivery channel and region
- To provide detailed information regarding the major factors influencing the market growth (such as drivers, restraints, opportunities, and challenges)
- To strategically analyze micromarkets with respect to the individual growth trends, prospects, and contributions to the overall market
- To analyze the opportunities in the market for stakeholders and provide details of the competitive landscape for market leaders
- To forecast the size of the market segments with respect to five main regions, namely, North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa (along with country-wise segmentation)
- To profile the key players and comprehensively analyze their market shares and core competencies in the veterinary services market
- To track and analyze competitive developments such as partnerships, agreements, collaborations, alliances, mergers and acquisitions, new product developments, geographic expansions, and R&D activities in the veterinary services market
Available Customizations
With the given market data, MarketsandMarkets offers customizations as per your company’s specific needs. The following customization options are available for the report:
Company Information
- Detailed analysis and profiling of additional market players (up to 5)
Geographic Analysis
- Further breakdown of the Rest of Europe veterinary services market into Denmark, Norway, and others
- Further breakdown of the Rest of Asia Pacific veterinary services market into Vietnam, Pakistan, New Zealand, Australia, South Korea, and others
Growth opportunities and latent adjacency in Veterinary Services Market