PUBLISHER: SkyQuest | PRODUCT CODE: 1250054
PUBLISHER: SkyQuest | PRODUCT CODE: 1250054
Global Veterinary Services Market was valued at USD 97.34 billion in 2021 and is expected to grow more at a value of USD 159.5 billion by 2028, at a CAGR of 5.7% over the forecast period (2022-2028).
Global Veterinary Services refers to the consumption and production of Veterinary Services in the Asia Pacific region. The Asia Pacific region includes countries such as China, India, Japan, South Korea, Australia, and New Zealand, among others. Top-down and bottom-up approaches were used to estimate and validate the size of Global Veterinary Services and to estimate the size of various other dependent submarkets. The research methodology used to estimate the market size includes the following details: The key players in the market were identified through secondary research, and their market shares in the respective regions were determined through primary and secondary research. This entire procedure includes the study of the annual and financial reports of the top market players and extensive interviews for key insights from industry leaders such as CEOs, VPs, directors, and marketing executives. All percentage shares split, and breakdowns were determined by using secondary sources and verified through Primary sources. All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data.
Segments covered in this report
The global veterinary services market is segmented based on service type, animal type, and region. Based on service type, the global veterinary services market is segmented into diagnostics tests and imaging, surgery, physical health monitoring, and others. Based on animal type, the global veterinary services market is segmented into companion animals and production animals. Based on region, it is segmented into Asia-Pacific (APAC), North America, Europe, Middle East and Africa (MEA), and Central South America.
Driver
The global veterinary services market is anticipated to experience growth during the projected period due to the increasing awareness of pet health and a surge in the demand for efficient medical care. An instance of this can be observed in the efforts made by the Federation of Indian Animal Protection Organization (FIAPO) to safeguard the welfare of animals in India. This has been achieved through partnerships with various animal rights organizations and activists, along with public awareness campaigns and lobbying, which have addressed a broad spectrum of animal welfare issues.
Restrain
The global market for veterinary services is anticipated to experience sluggish growth owing to inadequate awareness in emerging or less developed economies. Zoonotic infections can be traced back to companion animals such as cats and dogs, which are widely kept as household pets.
Trend
The growth of the global veterinary services market is expected to receive a boost from the increased availability of advanced products or services offered by market players. PetSmart has announced the launch of PetSmart Veterinary Services (PVS) in June 2022, which aims to provide a comprehensive solution for veterinarians to establish their franchised practice and facilitate easy access to trusted local veterinarians and more convenient vet hospital locations within PetSmart stores.