NEW YORK, March 16, 2017 /PRNewswire/ -- Veterinary services provide healthcare for animals - especially pets, farm animals, and animals kept in zoos and wildlife parks. This market comprises licensed veterinary practitioners who practice veterinary medicine, dentistry or surgery for animals.
The Americas comprises North America and South America. According to the IMF, The Americas' total GDP was $25 trillion in 2016 accounting for 33.9% in $74.5 trillion global GDP.
Veterinary services spending in North America is high due to a range of initiatives taken by government in different parts of the region and countries. Governed under The Animal and Plant Health Inspection Service, USA is the largest market for the industry. The market is further expected to grow due to stricter regulations by the Veterinary Feed Directive on anti-microbial drugs for production animals.
Animal Hospitals And Veterinary Clinics was the largest segment in the American veterinary services market at followed by Veterinary Laboratory Testing Services.
Insurance Services Aiding Pet Owners was the most recent trend observed in the veterinary services market. The pet insurance industry is offering new product lines for veterinary services in developed markets. The insurance cover helps pet owners to explore a range of treatment options available ensuring better healthcare of animals. For example, Healthy Paws pet insurance offers insurance for pet illness, accidents, hereditary and congenital conditions, chronic conditions and alternative care.
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