The future of the global
veterinary
service market looks promising with opportunities
in the diagnostic tests & imaging, surgery, physical health monitoring, and
vaccination markets. The global veterinary service market is expected to reach
an estimated $164.2 billion by 2030 with a CAGR of 5.1% from 2024 to 2030. The
major drivers for this market are expanding expenditure on pets, rising
consumption of products generated from animals, increasing initiatives by major
players in the sector, and growing emphasis on sustainable animal husbandry.
Some of the key questions
answered in this exclusive report are:
Q.1. What are some of
the most promising, high-growth opportunities for the veterinary service market
by service type (diagnostic tests & imaging, surgery, physical health
monitoring, and vaccination), delivery channel (hospitals & clinics and
commercial facilities), animal type (food-producing and companion), and region
(North America, Europe, Asia Pacific, and the Rest of the World)?
Q.2. Which segments will
grow at a faster pace and why?
Q.3. Which region will grow at a faster pace and
why?
Q.4. What are the key
factors affecting market dynamics? What are the key challenges and business
risks in this market?
Q.5. What are the
business risks and competitive threats in this market?
Q.6. What are the emerging trends in this market
and the reasons behind them?
Q.7. What are some of
the changing demands of customers in the market?
Q.8. What are the new
developments in the market? Which companies are leading these developments?
Q.9. Who are the major
players in this market? What strategic initiatives are key players pursuing for
business growth?
Q.10. What are some of
the competing products in this market and how big of a threat do they pose for
loss of market share by material or product substitution?
Q.11. What M&A
activity has occurred in the last 5 years and what has its impact been on the
industry?
Market Segmentation:
In this market,
food-producing, and companion are the major segments of veterinary service
market by animal type. Lucintel forecasts that companion is expected to witness
higher growth over the forecast period.Within this market, surgery will remain
the largest segment over the forecast period due to growing occurence of
diseases among animals, as well as, rising need for medical assistance to the
pets.
North America will
remain the largest region over the forecast period due to identified
initiatives carried out by several government animal protection organizations
with the goal of improving veterinarian care in the US and Canada.
CVS, Mars, National
Veterinary Associates, Pets at Home, Greencross Vets, Fetch! Pet Care, and IVC
Evidensia are the major suppliers in the veterinary service market.
About
Lucintel
Lucintel, the premier global
management consulting and market research firm, creates winning strategies for
growth. It offers market assessments, competitive analysis, opportunity
analysis, growth
consulting, M&A, and due diligence services to executives and
key decision-makers in a variety of industries.
Contact:
Roy Almaguer
Lucintel
Dallas, Texas, USA
Email: roy.almaguer@lucintel.com
Tel. 972.636.5056
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