A Comprehensive Global Veterinary Healthcare Industry Overview: Major Leaders, Market Size, Growth Trends, Regional Analysis, and Forecast
LONDON, Aug. 31, 2023 /PRNewswire/ -- In the most recent analysis of the veterinary healthcare market by the Global Market Model, consistent expansion has been projected for the market. The substantial inflation rates have been factored into the equation, causing an upsurge in veterinary care costs as well as elevated prices for drugs and animal feed. These considerations were already integrated into our prior forecast update, consequently maintaining the stability of our predictions for this market in the current update cycle. However, it's important to note that the market's growth might be restrained due to decreased rates of pet adoption and reduced expenditures on pets.
Noteworthy points from the Global Market Model's forecast for the veterinary healthcare market comprise:
- The worldwide veterinary healthcare sector attained a valuation of $177.9 billion in the year 2022.
- The veterinary healthcare market represented 0.2% of the global Gross Domestic Product (GDP).
- A Compound Annual Growth Rate (CAGR) of 7.3% is anticipated for the veterinary healthcare market within the period spanning from 2022 to 2032.
- Prominent catalysts for the veterinary healthcare market encompass the heightened adoption of pet insurance and the availability of advanced treatment choices.
- The veterinary services domain stood as the largest sector within the veterinary healthcare market, contributing to 72.3% of the total in 2022.
- The United States held the foremost position in the veterinary healthcare market, constituting 42.4% of the overall market share in 2022.
Gain more insights into the veterinary healthcare industry trends with a free consultation:
The Global Market Model offers insights on the following key industry indicators for the veterinary healthcare industry -
- Number of dentists
- Number of hospitals
- Number of MRI units
- Number of nurses
- Number of pharmacies
- Number of pharmacists
- Number of physicians
- Number of surgical procedures
- Parkinson prevalence rate
- Peptic ulcer prevalence rate
- Private healthcare expenditure
- Public healthcare expenditure
- Rheumatoid arthritis prevalence rate
- Thalassemia prevalence rate
- Tuberculosis prevalence rate
Leverage the capabilities of the Global Market Model to gain access to essential information about the veterinary healthcare industry. We're available to cater to your distinct needs and preferences -
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The Global Market Model, is a market intelligence platform covering various macroeconomic indicators and metrics for 7000 markets across 58 geographies and 27 industries. The Global Market Model covers multi-layered datasets which help its users assess supply-demand gaps.
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