The United States veterinary healthcare market size was valued at USD XX Billion in 2022 and is expected to surpass USD XX Billion by 2031, expanding at a CAGR of 5% during the forecast period, 2023 – 2031. The growth of the market is attributed to increased pet adoption.
Veterinary healthcare/medicine is the science used for diagnosing, treating, and preventing various diseases in animals and helps the production of the livestock animals is generating the growth in animal healthcare market.
In the United States, the government agencies help to enhance the management and highly support healthcare of veterinary animals both in production (e.g., sheep, pigs, cattle, others) animals and companion animals (e.g., cats, dogs, and horses) animal species.
The Covid-19 pandemic affected various economies, along with many sectors involves such as pharmaceutical and medical device industries. The US government has responded to threat Covid-19 by various restrictions such as social distancing, travel restrictions, and large-scale quarantines which impacted on business and consumer, overall affect the market growth during the forecast period.
United States Veterinary Healthcare Market Trends, Drivers, Restraints, and Opportunities
- In the US high support for the healthcare of veterinary animals both in companion animals and production animals of various categories is estimated to boost the market.
- The government in the US helps to enhance the management of animal healthcare, such as for the diagnosis and treatment, which is projected to drive the market.
- The market being investigated is growing due to a huge population investing in pet insurance throughout developed economies, which drives the market.
- Approval of new products for the treatment of animal illnesses is expected to boost the market.
- Social isolation, travel restrictions, and large-scale quarantines are the problems faced due to Covid-19, which are projected to hinder the market.
- The high cost of animal testing for diagnosis of any diseases, act as major restraints for the market growth.
Scope of United States Veterinary Healthcare Market Report
The report on the United States 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
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Details
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Report Title
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Veterinary Healthcare Market - United States Industry Analysis, Growth, Share, Size, Trends, and Forecast
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Base Year
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2022
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Historic Data
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2016–2021
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Forecast Period
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2023–2031
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Segmentation
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Product (Therapeutics (Vaccines, Parasiticides, Anti-Infectives, Medical Feed Additives, Others), Diagnostics (Immunodiagnostic Tests, Molecular Diagnostics, Diagnostic Imaging, Clinical Chemistry, Others), Animal Type (Dogs & Cats, Horses, Ruminants, Swine, Poultry, and Others)
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Regional Scope
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Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
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Report Coverage
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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
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Elanco Animal Health.; Boehringer Ingelheim International GmbH.; Merck & Co. Inc.; Indexx Laboratories.; Zoetis, Inc.
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United States Veterinary Healthcare Market Segment Insights
Products Segment Analysis
Based on products, the United States veterinary healthcare market is divided into therapeutics and diagnostics. The therapeutics segment is sub-segregated into vaccines, parasiticides, anti-infectives, medical feed additives, and others. The vaccines segment is expected to grow at a rapid pace during the forecast period owing to protection against Newcastle and Marek’s diseases.
Poulvac Procerta HVT-ND, a vectored recombinant vaccine for protection against Newcastle and Marek's disease viruses, has been added to the animal health company's poultry vaccine portfolio. On the other hand, the medical feed segment is anticipated to expand during the forecast period because of essential components of an animal's diet that are used to treat ailments and improve nutrition. It is a stress-free and safe way to provide veterinary medicines, and it is just as effective as injection, in-water, and tablet administration.
Animal Types Segment Analysis
On the basis of animal types, the United States veterinary healthcare market is segregated into dogs & cats, horses, ruminants, swine, poultry, and others. The dogs & cats segment is projected to expand at a considerable CAGR during the forecast period owning to increasing pet adoptions. The industry being investigated is growing due to a huge population investing in pet insurance in developed economies.
According to the American Pet Products Association's (APPA) 2019-2020 national pet owners’ survey, around 67 % of US homes, or 84.9 million families, own a pet. In recent years, not only has the number of pet owners risen, but the number of livestock has also expanded at a consistent rate.
Segments
The United States Veterinary Healthcare market has been segmented on the basis of
Product
- Therapeutics
- Vaccines
- Parasiticides
- Anti-infective
- Medical Feed Additives
- Others
- Diagnostics
- Immunodiagnostic Tests
- Molecular Diagnostics
- Diagnostic Imaging
- Clinical Chemistry
- Others
Animal Type
- Dogs & Cats
- Horses
- Ruminants
- Swine
- Poultry
- Others
Key Players
Competitive Landscape
Key players competing in the United States veterinary healthcare market include Elanco Animal Health.; Boehringer Ingelheim International GmbH.; Merck & Co. Inc.; Indexx Laboratories.; Zoetis, Inc. Some of key players are using several diagnostic techniques for animal healthcare, such as defending the animals from infections brought on by changing weather.
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