North America Veterinary Healthcare Market Growth | 2030
North America Veterinary Healthcare Market Growth | 2030
Segments - North America Veterinary Healthcare Market by Product Types (Therapeutics [Parasiticides, Vaccines, Anti-infective, Medical Feed Additives, and Others], Diagnostics [Molecular Diagnostics, Immunodiagnostics Tests, Diagnostic Imaging, Clinical Chemistry, and Others]), Animal Types (Poultry, Swine, Ruminants, Horses, Dogs and Cats, and Others), and Geographies (North America [Canada, Mexico, United States])- Industry Analysis, Growth, Share, Size, Trends, and Forecast 2021 – 2028
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| Report ID :HC-3066
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| 166 Pages
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Report Description
The North America veterinary healthcare market is anticipated to register at a significant CAGR during the forecast period, 2021-2028. The growth of market is attributed to rising investments across developed markets towards pet insurance and increasing number of pet owners and their demand for veterinary services.
The market is most likely to witness a rise in demand, for protein based products due to increasing food based diseases, joint problems owing to deficiency in bone density these factors has raised the alarm for the companies to manufacture enhanced vaccines and medications.
The growing number of government campaigns and initiatives towards animal health and promoting the use of natural or organic based food products for their pets is anticipated to act as one of the factor in surging the demand during the forecast period.
The substantial rise in pet adoption or pet ownership, growing demand for protein based products, organic food, and food-borne diseases across the world are some of the factors estimated to boost the market during the projected period.
The bulk production of animal-borne food products leads to price reduction, accessibility of food at cheaper price, market also includes technological advancement in veterinary healthcare such as vaccine banks, and pet owners mobile trackers are some factors contributing in the market surge.
Market Trends, Drivers, Restraints, and Opportunities
- Growing number of pet population, rising investment in pet insurance is expected to boost the market during the forecast period.
- Increasing number of pet owners and demand surge for veterinary services is estimated to drive the market during the projected period.
- Rising demand for protein rich food and incidences of zoonotic is expected to drive the market in the coming years.
- Increasing number of government initiatives on promoting animal health products is anticipated to propel the market during the projected period.
- Increasing awareness and willingness to invest on organic and healthy products by the owners is estimated to fuel the market.
- R&D and technological advancement in veterinary medicines and technology is expected to offer lucrative opportunities for the key players in the market.
- Strict policies over drug approval from government for animal use act as one of the factor hindering the growth of the market.
Scope of the market
The report North America veterinary healthcare market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
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Attributes |
Details |
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Report Title |
Veterinary Healthcare Market – North America Industry Analysis, Growth, Share, Size, Trends, and Forecast |
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Base Year |
2020 |
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Historic Data |
2018–2019 |
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Forecast Period |
2021–2028 |
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Segmentation |
Product Types (Therapeutics [Parasiticides, Vaccines, Anti-infective, Medical Feed Additives, Other Therapeutics], Diagnostics [Molecular Diagnostics, Immunodiagnostics Tests, Diagnostic Imaging, Clinical Chemistry, Other Diagnostics]), Animal Types (Poultry, Swine, Ruminants, Horses, Dogs and Cats, Others Animal Types) |
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Geographical scope |
North America [Canada, Mexico, United States] |
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Report Coverage |
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast |
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Key Players Covered in the Report |
Zoetis Inc.; Idexx Laboratories; Merck & Co Inc.; Boehringer Ingelheim International GmbH; Eli Lilly and Company (Elanco Animal Health) |
Market Segment Insights
The diagnostic segment is expected to exhibit high CAGR
Based on the product types, the market is segregated into therapeutics and diagnostics. The therapeutics segment is further segregated into parasiticides, vaccines, anti-infective, medical feed additives, and others. The diagnostics segment is sub-segregated into molecular diagnostics, immunodiagnostics tests, diagnostic imaging, clinical chemistry, and others. The diagnostic segment is expected to exhibit high CAGR during the forecast period owing to growing number of veterinary practitioner and high income offered in developed countries, expensive animal healthcare cost, rising incidence of food-borne diseases.
The poultry segment is estimated hold the key share of the market
On the basis of animal types, the market is categorized into poultry, swine, ruminants, horses, dogs & cats, and others. The poultry segment is estimated hold the key share of the market in the coming years owing to high demand for the poultry product among the population in countries like the United States and Canada meats such as beef is one of the factor increasing market share.
Segments
The North America veterinary healthcare market has been bifurcated on the basis ofProduct types
- Therapeutics
- Parasiticides
- Vaccines
- Anti-infective
- Medical Feed Additives
- Others
- Diagnostics
- Molecular Diagnostics
- Immunodiagnostics Tests
- Diagnostic Imaging
- Clinical Chemistry
- Others
Animal Types
- Poultry
- Swine
- Ruminants
- Horses
- Dogs and Cats
- Others
Geography
- North America
- Canada
- Mexico
- United States
Key Players
- Zoetis Inc.
- Idexx Laboratories
- Merck & Co Inc
- Boehringer Ingelheim International GmbH
- Eli Lilly and Company (Elanco Animal Health)
Competitive Landscape
Key players competing North America veterinary healthcare market include Zoetis Inc.; Idexx Laboratories; Merck & Co Inc.; Boehringer Ingelheim International GmbH; Eli Lilly and Company (Elanco Animal Health).
Some of these players are targeting on business strategies such as mergers, acquisitions, partnerships, collaborations, capacity expansion, and product launches to increase their market shares.
In July 2020, Zoetis Inc. acquired Fish Vet groups to enhance aquaculture diagnostics capabilities.
In July 2020, Zoetis Inc. and Trianni announced agreement to develop a transgenic antibody discovery platform for use in animal health.
Frequently Asked Questions
The market is segmented by product types (therapeutics and diagnostics) and animal types (poultry, swine, ruminants, horses, dogs & cats, and others).
The report covers North America, including Canada, Mexico, and the United States.
Key players include Zoetis Inc., Idexx Laboratories, Merck & Co Inc., Boehringer Ingelheim International GmbH, and Eli Lilly and Company (Elanco Animal Health).
Opportunities include R&D and technological advancements in veterinary medicines and technology, as well as increasing awareness and investment in organic and healthy pet products.
Strict government policies over drug approval for animal use act as a significant restraint, potentially hindering market growth.
The poultry segment is estimated to hold the key share of the market, driven by high demand for poultry products in the United States and Canada.
Major trends include increased pet adoption, demand for protein-rich and organic food, technological advancements in veterinary medicine, and the introduction of mobile trackers and vaccine banks.
The diagnostics segment is expected to exhibit the highest CAGR due to the growing number of veterinary practitioners, high income in developed countries, and rising incidence of food-borne diseases.
Key growth drivers include rising investments in pet insurance, increasing pet ownership, higher demand for veterinary services, and government initiatives promoting animal health and organic pet food.
The North America veterinary healthcare market is anticipated to register a significant CAGR during the forecast period of 2021-2028.
Table Of Content
1. Executive Summary2. Assumptions and Acronyms Used
3. Research Methodology
4. Veterinary Healthcare Market Overview
4.1. Introduction
4.1.1. Market Taxonomy
4.1.2. Market Definition
4.2. Macro-Economic Factors
4.2.1. Industry Outlook
4.3. Veterinary Healthcare Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. Veterinary Healthcare Market - Supply Chain
4.5. Global Veterinary Healthcare Market Forecast
4.5.1. Veterinary Healthcare Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Veterinary Healthcare Market Size (000’ Units) and Y-o-Y Growth
4.5.3. Veterinary Healthcare Market Absolute $ Opportunity
5. Global Veterinary Healthcare Market Analysis and Forecast by Region
5.1. Market Trends
5.2. Introduction
5.2.1. Basis Point Share (BPS) Analysis by Region
5.2.2. Y-o-Y Growth Projections by Region
5.3. Veterinary Healthcare Market Size and Volume Forecast by Region
5.3.1. North America
5.3.2. Latin America
5.3.3. Europe
5.3.4. Asia Pacific
5.3.5. Middle East and Africa (MEA)
5.4. Absolute $ Opportunity Assessment by Region
5.5. Market Attractiveness/Growth Potential Analysis by Region
5.6. Global Veterinary Healthcare Demand Share Forecast, 2019-2026
6. North America Veterinary Healthcare Market Analysis and Forecast
6.1. Introduction
6.1.1. Basis Point Share (BPS) Analysis by Country
6.1.2. Y-o-Y Growth Projections by Country
6.2. North America Veterinary Healthcare Market Size and Volume Forecast by Country
6.2.1. U.S.
6.2.2. Canada
6.3. Absolute $ Opportunity Assessment by Country
6.4. Market Attractiveness/Growth Potential Analysis
6.4.1. By Country
6.4.2. By Product Type
6.4.3. By Application
6.5. North America Veterinary Healthcare Demand Share Forecast, 2019-2026
7. Latin America Veterinary Healthcare Market Analysis and Forecast
7.1. Introduction
7.1.1. Basis Point Share (BPS) Analysis by Country
7.1.2. Y-o-Y Growth Projections by Country
7.1.3. Latin America Average Pricing Analysis
7.2. Latin America Veterinary Healthcare Market Size and Volume Forecast by Country
7.2.1. Brazil
7.2.2. Mexico
7.2.3. Rest of Latin America
7.3. Absolute $ Opportunity Assessment by Country
7.4. Market Attractiveness/Growth Potential Analysis
7.4.1. By Country
7.4.2. By Product Type
7.4.3. By Application
7.5. Latin America Veterinary Healthcare Demand Share Forecast, 2019-2026
8. Europe Veterinary Healthcare Market Analysis and Forecast
8.1. Introduction
8.1.1. Basis Point Share (BPS) Analysis by Country
8.1.2. Y-o-Y Growth Projections by Country
8.1.3. Europe Average Pricing Analysis
8.2. Europe Veterinary Healthcare Market Size and Volume Forecast by Country
8.2.1. Germany
8.2.2. France
8.2.3. Italy
8.2.4. U.K.
8.2.5. Spain
8.2.6. Russia
8.2.7. Rest of Europe
8.3. Absolute $ Opportunity Assessment by Country
8.4. Market Attractiveness/Growth Potential Analysis
8.4.1. By Country
8.4.2. By Product Type
8.4.3. By Application
8.5. Europe Veterinary Healthcare Demand Share Forecast, 2019-2026
9. Asia Pacific Veterinary Healthcare Market Analysis and Forecast
9.1. Introduction
9.1.1. Basis Point Share (BPS) Analysis by Country
9.1.2. Y-o-Y Growth Projections by Country
9.1.3. Asia Pacific Average Pricing Analysis
9.2. Asia Pacific Veterinary Healthcare Market Size and Volume Forecast by Country
9.2.1. China
9.2.2. Japan
9.2.3. South Korea
9.2.4. India
9.2.5. Australia
9.2.6. Rest of Asia Pacific (APAC)
9.3. Absolute $ Opportunity Assessment by Country
9.4. Market Attractiveness/Growth Potential Analysis
9.4.1. By Country
9.4.2. By Product Type
9.4.3. By Application
9.5. Asia Pacific Veterinary Healthcare Demand Share Forecast, 2019-2026
10. Middle East & Africa Veterinary Healthcare Market Analysis and Forecast
10.1. Introduction
10.1.1. Basis Point Share (BPS) Analysis by Country
10.1.2. Y-o-Y Growth Projections by Country
10.1.3. Middle East & Africa Average Pricing Analysis
10.2. Middle East & Africa Veterinary Healthcare Market Size and Volume Forecast by Country
10.2.1. Saudi Arabia
10.2.2. South Africa
10.2.3. UAE
10.2.4. Rest of Middle East & Africa (MEA)
10.3. Absolute $ Opportunity Assessment by Country
10.4. Market Attractiveness/Growth Potential Analysis
10.4.1. By Country
10.4.2. By Product Type
10.4.3. By Application
10.5. Middle East & Africa Veterinary Healthcare Demand Share Forecast, 2019-2026
11. Competition Landscape
11.1. Global Veterinary Healthcare Market: Market Share Analysis
11.2. Veterinary Healthcare Distributors and Customers
11.3. Veterinary Healthcare Market: Competitive Dashboard
11.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
11.4.1. Zoetis Inc. Idexx Laboratories Merck & Co Inc Boehringer Ingelheim International GmbH Eli Lilly and Company (Elanco Animal Health)
Methodology
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