DUBLIN, March 4, 2020 /PRNewswire/ -- The "Animal Hospitals and Veterinary Clinics Global Market Report 2020" report has been added to ResearchAndMarkets.com's offering.
The global animal hospitals and veterinary clinics market was valued at about $67.3 billion in 2018 and is expected to grow to $105.22 billion at a CAGR of 11.8% through 2022. Major players in the market are VCA, Banfield Pet Hospital, Greencross, CVS Group, and Mars.
North America was the largest region in the animal hospitals and veterinary clinics market in 2018, followed by Western Europe, Asia-Pacific and Eastern Europe respectively.
The rise in adoption of companion pets globally is driving the animal hospitals and veterinary clinics market. The key factor behind this rise in adoption is increasing humanization of pets, as an increasing number of pet owners are accepting pets as family members. According to American Veterinary Medical Association report, there was a correlation between the degree of human/animal bond and pet spending.
According to American Society for the Prevention of Cruelty to Animals (ASPCA), In the USA, approximately 3.2 million shelter animals are adopted each year. Also, according to a study in 2018, Americans spent about $17 billion on veterinary care in hospital, clinics and food. Similarly, Chinese pet owners spent more than 5,000 yuan per pet in 2018, an increase of 15% from 2017. With this growth, the animal hospital and veterinary clinics market is expected to grow in the forecast period.
Veterinary healthcare access is relatively poor in most developing countries and some developed nations. Globally, the disease burden is significantly high in low and middle income countries. For instance, in 2014, India reported approximately 63,000 veterinarians while the country required more than 150,000 veterinarians. Thus, shortage of skilled veterinarian professionals is having a negative impact on the growth of the animal hospital and veterinary clinics market.
Many veterinary care service providers are adopting big data technologies to provide better treatment for pets, livestock and animals. This technology is used to diagnose and assess potential diseases. Big data enables veterinarians identify the diseases affecting cattle and pets in various locations and regions. For instance, Bayer Healthcare Animal introduced applications to assess potential signs of diseases in animals, thus enabling faster diagnosis and treatment of disease conditions. Some of the major veterinary care providers opting big data analytics to treat pet health issues are VCA, Banfield Pet Hospitals and Greencross Limited.
The animal hospital and veterinary clinics market is regulated by authorities such as the Australian Pesticides and Veterinary Medicines Authority (APVMA). In Australia, Under Section 24A of the Veterinary Surgeons Act 1960 (Act) prescribes that premises which will be or are used as a veterinary clinic or veterinary hospital (veterinary premises), must be registered by the Veterinary Surgeons' Board. The Board only registers veterinary premises when it is satisfied that the premises are suitable for the purpose for which they are proposed to be used and the veterinary premises are under the management of a veterinary surgeon.
Key Topics Covered
1. Executive Summary
2. Animal Hospitals And Veterinary Clinics Market Characteristics
3. Animal Hospitals and Veterinary Clinics Market Size and Growth
3.1. Global Animal Hospitals and Veterinary Clinics Historic Market, 2015 - 2019, $ Billion
3.1.1. Drivers of the Market
3.1.2. Restraints on the Market
3.2. Global Animal Hospitals and Veterinary Clinics Forecast Market, 2019 - 2022F, 2025F, 2030F, $ Billion
3.2.1. Drivers of the Market
3.2.2. Restraints on the Market
4. Animal Hospitals and Veterinary Clinics Market Segmentation
4.1. Global Animal Hospitals and Veterinary Clinics Market, Segmentation by Type, Historic and Forecast, 2015-2019, 2022F, 2025F, 2030F, $ Billion
- Other (includes Pet food)
4.2. Global Animal Hospitals and Veterinary Clinics Market, Segmentation by Animal Type, Historic and Forecast, 2015-2019, 2022F, 2025F, 2030F, $ Billion
- Farm Animals
- Companion Animals
5. Animal Hospitals and Veterinary Clinics Market Regional and Country Analysis
5.1. Global Animal Hospitals and Veterinary Clinics Market, Split by Region, Historic and Forecast, 2015-2019, 2022F, 2025F, 2030F, $ Billion
5.2. Global Animal Hospitals and Veterinary Clinics Market, Split by Country, Historic and Forecast, 2015-2019, 2022F, 2025F, 2030F, $ Billion
- Addison Biological Laboratory Inc.
- Animart LLC
- Banfield Pet Hospital
- CVS Group PLC
- Ethos Veterinary Health
- Greencross Ltd.
- IDEXX laboratories
- Mars Inc.
- National Veterinary Care Ltd.
- Patterson Companies Inc.
- Pets at Home Group PLC
- PetWell Partners
- Southern Veterinary Partners
- The Animal Medical Center
- The Bargh Memorial Animal Hospital ASPCA
- VCA Inc.
- Veterinary Management Groups (VMG)
- Veterinary Practice Partners
- Vetronic Services Ltd.
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