Veterinary Healthcare Market by Product (Therapeutics and Diagnostics), Animal Type (Dogs and Cats, Horses, Ruminants, Swine, Poultry and Other Animals) and Geography - Global Industry Analysis, Opportunities and Forecast up to 2029

Veterinary Healthcare Market Size

The global Veterinary Healthcare market size was valued at $37.30 billion in 2023 and is projected to reach $66.81 billion by 2029, growing at a CAGR of 10.2% during the forecast period.

Veterinary Healthcare Market Dynamics

• The veterinary healthcare market is expected to witness significant growth in the future due to advanced technology leading to innovation in animal healthcare and increasing productivity at the risk of emerging zoonosis.

• Additionally, rising insurance policies for pet healthcare and government initiatives to promote healthcare services for animals are the major factors driving the growth of the veterinary healthcare market demand.

• However, risk of unexpected adverse effects or side effects associated with care products and lack of infrastructure and funding in LMIC are restraining the market growth.

Veterinary Healthcare Market Overview

Veterinary medicine, often known as veterinary science, has contributed significantly to animal and human health. Veterinary medicine refers to the branch of medicine that deals with preventing, diagnosing, and treating disease, disorder, and injury recovery in animals. Veterinary medicines can be used on a wide range of animals. Veterinary medicines can be used to treat both wild and domestic animals.

By Product, Vaccine Sub Segment Emerge as the Dominant Segment

Vaccines are comprised of viruses, bacteria, or other disease-causing organisms that have been killed or altered so that they can no longer cause disease, hence increasing immunity. Vaccines containing genetically modified components originating from those disease agents are being developed. Increasing government activities in many regions have improved animal health and led to an increase in demand for veterinary vaccines. In addition, market players are focused on the global launch of new vaccines in order to expand their market share.

By Geography, North America Dominates by Being the Largest Market for Veterinary Healthcare

North America currently holds the largest share of the global veterinary healthcare market because of the rise in chronic diseases among animals. The United States is the leading country, having the largest market share. The introduction of pet insurance policies and raising awareness about the many treatment options available for pet animals are expected to accelerate the market's development rate. Increased spending on veterinary healthcare in the United States is solely driving up market demand.

Some of the key players profiled in the Report:

• Thermo Fisher Scientific
• Bayer AG
• Merck & Co. Inc.
• Heska Corporation
• Zoetis Inc.
• bioMerieux SA
• INDICAL Bioscience GmbH
• IDVet
• Idexx Laboratories
• Ceva Animal Health LLC
• Phibro Animal Health
• BioChek BV
• Randox Laboratories Ltd
• Boehringer Ingelheim International GmbH
• Elanco Animal Health

What Can be Explored with this Research Report:

• Understand the key trends that will drive the market, challenges it faces in the current market scenario.
• Identify growth opportunities.
• Porter’s five force analysis.
• In-depth analysis of market segments, and regions/countries predicted to observed promising growth.
• Historical and forecast size of the market in terms of revenue (USD Million).
• Company profiling with key products and solution offerings, key financial information, SWOT analysis, and business strategies adopted.

Market Segmentation:

The research report includes in-depth coverage of the industry analysis with size, share, and forecast for the below segments:

Market by, Product
• Therapeutics
• Diagnostics

Market by, Animal Type
• Dogs and Cats
• Horses
• Ruminants
• Swine
• Poultry
• Other Animals

Market by, Geography
• North America
• Europe
• Asia Pacific
• South America
• Middle East & Africa

Table Of Content

1 Market Overview           
    1.1 Introduction       
    1.2 Research Objectives      
    1.3 Market Segmentation      
    1.4 Stakeholders       
    1.5 List of Acronyms       
             
2 Executive Summary           
             
3 Research Methodology          
    3.1 Identification of Data      
    3.2 Evaluation of Market Dynamics     
    3.3 Collaboration of Data      
    3.4 Verification and Analysis      
    3.5 Data Sources       
    3.6 Assumptions       
             
4 Market Dynamics           
    4.1 Market Drivers       
           4.1.1 Advanced technology leading to innovation in animal healthcare
           4.1.2 Increasing productivity at the risk of emerging zoonosis
           4.1.3 Rising insurance policies for pet healthcare
           4.1.4 Government initiatives to promote healthcare services for animals
    4.2 Market Restraints       
           4.2.1 Risk of unexpected adverse effects or side effects associated with care products
           4.2.2 Lack of infrastructure and funding in LMIC
    4.3 Market Opportunities      
           4.3.1 Increasing investments in veterinary hospitals to ensure quality products and services been provided
    4.4 Market Challenges       
           4.4.1 Adequately attending to the diversity of animal species and security and anti-counterfeiting measures
    4.5 Impact of COVID-19 on Veterinary Healthcare Market   
             
5 Porter's Five Force Analysis          
    5.1 Bargaining Power of Suppliers      
    5.2 Bargaining Power of Buyers      
    5.3 Threat of New Entrants      
    5.4 Threat of Substitutes      
    5.5 Competitive Rivalry in the Market     
             
6 Global Veterinary Healthcare Market by, Product        
    6.1 Overview       
    6.2 Therapeutics       
     6.2.1 Vaccines       
     6.2.2 Parasiticides      
     6.2.3 Anti-infectives      
     6.2.4 Medical Feed Additives     
     6.2.5 Other Therapeutics      
    6.3 Diagnostics       
     6.3.1 Immunodiagnostic Tests     
     6.3.2 Molecular Diagnostics     
     6.3.3 Diagnostic Imaging      
     6.3.4 Clinical Chemistry      
     6.3.5 Other Diagnostics      
             
7 Global Veterinary Healthcare Market by, Animal Type       
    7.1 Overview       
    7.2 Dogs and Cats        
    7.3 Horses        
    7.4 Ruminants       
    7.5 Swine        
    7.6 Poultry        
    7.7 Other Animals       
             
8 Global Veterinary Healthcare Market by, Geography       
    8.1 Overview       
    8.2 North America        
    8.3 Europe        
    8.4 Asia Pacific       
    8.5 South America       
    8.6 Middle East & Africa      
             
9 Key Developments           
             
10 Company Profiling           
    10.1 Thermo Fisher Scientific       
             10.1.1 Business Overview
             10.1.2 Product/Service Offering
             10.1.3 Financial Overview
             10.1.4 SWOT Analysis
             10.1.5 Key Activities
    10.2 Bayer AG        
    10.3 Merck & Co. Inc.       
    10.4 Heska Corporation       
    10.5 Zoetis Inc.       
    10.6 bioMerieux SA       
    10.7 INDICAL Bioscience GmbH      
    10.8 IDVet        
    10.9 Idexx Laboratories       
    10.10 Ceva Animal Health LLC      
    10.11 Phibro Animal Health      
    10.12 BioChek BV       
    10.13 Randox Laboratories Ltd      
    10.14 Boehringer Ingelheim International GmbH    
    10.15 Elanco Animal Health