The Japan veterinary healthcare market size was valued at USD 1870 million in 2020 and is projected to surpass USD 2995 million by 2028, expanding at a CAGR of 8% during the forecast period, 2021–2028. The growth of the market is attributed to the increasing pet ownership.
Veterinary healthcare can be described as medical tests performed to protect the health and productivity of animals, as well as the early diagnosis and treatment of illness symptoms. The tests are carried out using a variety of techniques that include the use of blood, pee, stool, and biopsies from animals. Veterinary diagnosis is used to diagnose a wide spectrum of animals, both wild and domestic. The industry's expansion is being accelerated by new forms of animal diseases and their subsequent transmission to people through animal interaction and animal foodstuff use.
Veterinary medicine is defined as the science associated with the diagnosis, treatment, and prevention of diseases in animals. Besides, the increasing importance of the production of livestock animals is generating growth in the veterinary healthcare market. During the pandemic of Covid-19, In a poll performed by the Japan Pet Food Association in 2020, dog and cat ownership increased by 15% over the past year. As of October 2020, Japan had approximately 8 million dogs and 9 million cats maintained as pets.
The report on the Japan veterinary healthcare market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
Attributes |
Details |
Report Title |
Japan Veterinary Healthcare Market - Industry Analysis, Growth, Share, Size, Trends, and Forecast |
Base Year |
2020 |
Historic Data |
2018–2019 |
Forecast Period |
2021–2028 |
Segmentation |
Products (Diagnostics [Immunodiagnostic Tests, Molecular Diagnostics, Diagnostic Imaging, Clinical Chemistry, Others] and Therapeutics [Parasiticides, Vaccines, Medical Feed Additives, Anti-infectives, and Others]), and Types of Animals (Swine, Horses, Dogs and Cats, Ruminants, Poultry, and Others) |
Geographic Zone |
Japan |
Report Coverage |
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast |
Key Players Covered in the Report |
Zoetis Inc.; Virbac; Sumitomo Dainippon Pharma Co., Ltd; Nisseiken Co., Ltd.; NIPPON ZENYAKU KOGYO CO., LTD.; NIHON NOHYAKU CO.,LTD.; Merck & Co., Inc.; FUJIFILM Holdings Corporation; Kyoritsu Seiyaku Corporation (Carus Animal Health); Boehringer Ingelheim GmbH; and Elanco Animal Health Incorporated |
Based on products, the Japan veterinary healthcare market is divided into diagnostics and therapeutics. The therapeutics segment is further segmented into parasiticides, vaccines, medical feed additives, anti-infectives, and others. The vaccines by therapeutics segment is expected to account for a key share of the market during the forecast period due to vaccine advancements, increased government, and organization spending, expanding consumption of animal protein, such as milk, meat, eggs, and seafood, and increasing companion animal healthcare costs. In addition, Kyoritsu seiyaku Corporation offers Canivac KC-3 for canine adenovirus (type 2) infections, canine parainfluenza, and canine Bordetella disease, as well as Felivac 3 for feline viral rhinotracheitis, feline calicivirus disease, and feline panleukopenia prophylaxis. As a result, the segment's expansion will be aided by the simple availability of all such products.
For instance, the diagnostics segment is further divided into immunodiagnostic tests, molecular diagnostics, diagnostic imaging, clinical chemistry, others.
On the basis of types of animals, the market is segregated into swine, horses, dogs and cats, ruminants, poultry, and others. The dogs and cats segment is expected to hold a key share of the market in the coming years owing to pet care can keep growing in present value terms in 2021. After the breakout of COVID-19, there was a surge in demand for pet animals including dogs and cats, as people are seeking company and amusement while stuck at home.
Segments Covered in the Report
The Japan veterinary healthcare market has been segmented based on
Products
Types of Animals
Key Players
Key players competing in the Japan veterinary healthcare market are Zoetis Inc.; Virbac; Sumitomo Dainippon Pharma Co., Ltd; Nisseiken Co., Ltd.; NIPPON ZENYAKU KOGYO CO., LTD.; NIHON NOHYAKU CO.,LTD.; Merck & Co., Inc.; FUJIFILM Holdings Corporation; Kyoritsu Seiyaku Corporation (Carus Animal Health); Boehringer Ingelheim GmbH; and Elanco Animal Health Incorporated. Some of these players are adopting several business strategies such as acquisitions, mergers, collaborations, partnerships, capacity expansion, and product launches to enhance their market shares.
Segments Covered in the Report
The Japan veterinary healthcare market has been segmented based on
Products
Types of Animals
Key Players
Key players competing in the Japan veterinary healthcare market are Zoetis Inc.; Virbac; Sumitomo Dainippon Pharma Co., Ltd; Nisseiken Co., Ltd.; NIPPON ZENYAKU KOGYO CO., LTD.; NIHON NOHYAKU CO.,LTD.; Merck & Co., Inc.; FUJIFILM Holdings Corporation; Kyoritsu Seiyaku Corporation (Carus Animal Health); Boehringer Ingelheim GmbH; and Elanco Animal Health Incorporated. Some of these players are adopting several business strategies such as acquisitions, mergers, collaborations, partnerships, capacity expansion, and product launches to enhance their market shares.
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