Market Research Report
Veterinary Care Market Size, Share & Trends Analysis Report By Type Of Care (Regular, Critical), By Animal Type (Companion, Production), By Region (North America, APAC), And Segment Forecasts, 2021 - 2028
|Veterinary Care Market Size, Share & Trends Analysis Report By Type Of Care (Regular, Critical), By Animal Type (Companion, Production), By Region (North America, APAC), And Segment Forecasts, 2021 - 2028|
Published: August 16, 2021
Grand View Research, Inc.
Content info: 150 Pages
Delivery time: 2-10 business days
The global veterinary care market size is expected to reach USD 114.4 billion by 2028, registering a CAGR of 5.4% over the forecast period, according to a new report by Grand View Research, Inc. Increasing number of government initiatives to safeguard food security is likely to boost the adoption of better veterinary care worldwide. A significant increase in pet adoption and humanization worldwide is mostly responsible for the high need for veterinary care, which is boosting the market growth.
Moreover, the COVID-19 pandemic resulted in increased adoption of pets. In June 2020, at the Society for the Prevention of Cruelty to Animals Los Angeles, pet adoptions were double their normal rate, with almost 10 or 13 adoptions a day. Furthermore, a waiting list had formed for certain types of canines and puppies, as so few were left. Increasing awareness among pet owners for regular check-ups of their pets is further boosting the market.
The demand for animal protein is growing across the globe owing to higher per capita income. According to the article OECD-FAO Agricultural Outlook 2020-2029, growth in consumption of meat in the next decade is expected to increase by 12% by 2029. As the demand for meat continues to increase, the demand for veterinary care is anticipated to grow rapidly. Key companies in the market are collaborating with animal welfare organizations to encourage awareness and advance veterinary healthcare, which is further bolstering the market growth.