Veterinary Services Market Worth $142.04 Billion by 2025 | CAGR: 5.6%: Grand View Research, Inc.
SAN FRANCISCO, November 8, 2018 /PRNewswire/ --
The global veterinary services market size is expected to reach USD 142.04 billion by 2025, according to a new report by Grand View Research, Inc., experiencing a CAGR of 5.6% during the forecast period. Rising concerns regarding food security and safety are encouraging adoption of veterinary services worldwide. In addition, increasing pet adoption is one of the primary growth stimulants for the market.
In addition, advent of risk-based management systems, designed to analyze real-time fluctuations in food-borne and zoonotic disease prevalence, is widening the scope for growth of veterinary services market. Veterinary services play a critical role in risk aversion and facilitates implementation of various guidelines issued by regulatory authorities to maintain overall food safety. It also facilitates investigation of animal disease outbreaks and implementation of remedial measures after identification of an outbreak. The aforementioned factors are expected to help the market gain tremendous momentum over the coming years.
Browse full research report with TOC on "Veterinary Services Market Analysis Report By Animal Type (Production (Poultry, Cattle, Swine), Companion (Cats, Dogs, Equine)), By Region (APAC, North America, Europe), And Segment Forecasts, 2018 - 2025"at:https://www.grandviewresearch.com/industry-analysis/veterinary-services-market
Further Key Findings From the Report Suggest:
Production animal accounted for the largest share in the market in 2017 owing to high adoption of facilities for livestock to maintain biosecurity
Cattle was the leading revenue contributor among production animals in 2017 owing to increasing penetration of services such as hoof care and artificial insemination
The companion animals segment is projected to expand at a lucrative rate during the forecast period owing to unprecedented increase in their adoption for associated health benefits for humans such as greater psychological stability, lower blood pressure, and reduced anxiety attacks
North America dominated the global veterinary services market in 2017 as a result of local presence of private veterinarians that directly supply these services to consumers
Asia Pacific is anticipated to register an exponential CAGR during the same period owing to strong clinical urgency to curb high incidence of zoonotic diseases and management of sudden disease outbreaks such as Ebola and swine influenza
The market is highly fragmented in nature and the key participants adopt strategies such as regional expansion to gain competitive advantage. For instance, in June 2018, Mars Petcare acquired AniCura and Linnaeus to broaden its geographical presence in the U.K. and Sweden respectively.
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Grand View Research has segmented the global veterinary services market on the basis of animal type and region:
Veterinary Services Animal Type Outlook (Revenue, USD Million, 2014 - 2025)
Production Animal
Cattle
Artificial Insemination
Hoof Care
Diagnostic Services
Others
Poultry
Biosecurity
Reproductive Consulting
Diagnostic Services
Others
Swine
Biosecurity
Reproductive Consulting
Diagnostic Services
Others
Others
Companion Animal
Dogs
Dental Care
Vaccinations
Grooming
Diagnostic Services
Others
Cats
Dental Care
Vaccinations
Grooming
Diagnostic Services
Others
Horses
Hoof Care
Dental Care
Artificial Insemination
Grooming
Others
Others
Veterinary Services Regional Outlook (Revenue, USD Million, 2014 - 2025)
North America
U.S.
Canada
Europe
U.K.
Germany
France
Italy
Spain
Asia Pacific
Japan
China
India
Latin America
Brazil
Mexico
Middle East & Africa
South Africa
Explore the BI enabled intuitive market research database,Grand View Compass, by Grand View Research, Inc.
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
Contact: Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc.
Phone: +1-415-349-0058
Toll Free: 1-888-202-9519
Email: [email protected]
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