The veterinary services market consists of sales of veterinary services and related goods by entities (organizations, sole traders and partnerships) that provide veterinary services to pets, farm animals and animals kept in zoos and wildlife parks. This industry includes animal hospitals and veterinary clinics that provide consultation services, treatment, curative medicines to animals.
The global veterinary services market is expected to decline from $109.7 billion in 2019 to $84.9 billion in 2020 at a compound annual growth rate (CAGR) of -22.6%. The decline is mainly due to COVID-19 outbreak and the measures to contain it. Several veterinary care facilities in affected countries have been completely closed or have been only providing minimal treatment for emergency cases. This is because, the global public health organizations have recommended some medical facilities to postpone or cancel non-urgent visits/services, and to prioritize urgent and emergency visits and procedures in order to contain the coronavirus spread. The market is then expected to recover and grow at a CAGR of 5% from 2021 and reach $133.7 billion in 2023. North America was the largest region in the global veterinary services market, accounting for 51% of the market in 2019. Western Europe was the second largest region accounting for 22% of the global veterinary services market. Africa was the smallest region in the global veterinary services market. 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
The major players in the global veterinary services market are VCA, Banfield Pet Hospital, Greencross Limited, CVS Group
The countries covered in the global veterinary services market report are Argentina, Australia, Austria, Belgium, Brazil, Canada, Chile, China, Colombia, Czech Republic, Denmark, Egypt, Finland, France, Germany, Hong Kong, India, Indonesia, Ireland, Israel, Italy, Japan, Malaysia, Mexico, Netherlands, New Zealand, Nigeria, Norway, Peru, Philippines, Poland, Portugal, Romania, Russia, Saudi Arabia, Singapore, South Africa, South Korea, Spain, Sweden, Switzerland, Thailand, Turkey, UAE, UK, USA, Venezuela, Vietnam
The global veterinary services market is segmented:
1) By Type, Animal Hospitals And Veterinary Clinics, Veterinary Laboratory Testing Services
2) By Type of Animal, Livestock, Companion Animals
3) By Type of Expenditure, Public, Private
4) By Type of Service, Onsite, Offsite Subsegments Covered, Routine Examinations, Non-surgical Procedures, Surgical Procedures, Pet Animals, Livestock