New York, May 26, 2022 (GLOBE NEWSWIRE) — Reportlinker.com announces the publication of the “Veterinary Services Global Market Report 2022” – https://www.reportlinker.com/p05309005/?utm_source=GNW
The global veterinary services market is expected to grow from $116.49 billion in 2021 to $129.4 billion in 2022 at a compound annual growth rate (CAGR) of 11.1%. The market is expected to reach $185.92 billion in 2026 at a compound annual growth rate (CAGR) of 9.5%.
The veterinary services market includes sales of veterinary services and related goods by entities (organizations, sole proprietorships, and partnerships) that provide veterinary services to companion animals, farm animals, and animals kept in zoos and parks. animals. This industry includes animal hospitals and veterinary clinics that provide consultation services, treatments, and curative drugs to animals.
The main types of veterinary services are animal hospitals and veterinary clinics, veterinary laboratory testing services. Veterinary laboratory testing services refer to services that are provided to animals to test for disease.
The types of services offered are on-site and off-site and are used for livestock and companion animals. Expenses include public, private.
North America was the largest region in the veterinary services market in 2021. Asia-Pacific was the second largest region in the veterinary services market.
Regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
Global meat production is expected to increase over the forecast period, supporting the growth of the veterinary healthcare market. According to the United States Department of Agriculture, in 2020 beef production in the United States increased to 27.5 billion pounds, the highest production volume recorded in the country. The increase in meat production is particularly important in developing countries like China, India and Brazil, where increasing populations and rising income levels are driving demand for meat products. By 2027, meat and poultry production in emerging markets is expected to increase by 76%. By 2050, China’s meat imports are expected to increase by more than 3,500% to $150 billion, as consumption of chicken, pork and beef will increase due to the rise of the middle class in the country. Rising production of meat products supported by population growth will increase the demand for feed additives in the livestock industry, driving the veterinary healthcare market
The coronavirus disease (COVID-19) outbreak acted as a massive constraint on the veterinary services market in 2020 as supply chains were disrupted due to trade restrictions and consumption declined due to lockdowns imposed by governments around the world. COVID-19 is an infectious disease with flu-like symptoms including fever, cough and difficulty breathing.
The virus was first identified in 2019 in Wuhan, Hubei Province in the People’s Republic of China, and has spread around the world, including Western Europe, North America and Asia. Measures taken by national governments to contain transmission have led to a decline in economic activity as countries enter a state of “lockdown” and the outbreak has hurt businesses throughout 2020 and into 2021. However, the veterinary services market is expected to recover from the shock throughout the forecast period as it is a “black swan event” and not related to any ongoing or fundamental weaknesses. market or global economy
Telemedicine is gaining ground as this technology allows pet owners to access quality care remotely. Telemedicine is a subset of telehealth that includes clinical and non-clinical elements remote from the health system.
It refers to direct communication between veterinarians and clients through communication systems such as telephone, email, and video conferencing technologies. This technology also helps improve existing vet-client-patient relationships.
Busy lifestyles and consumer preference for personalized services are driving the demand for telemedicine services. For example, some of the veterinary clinics offering telemedicine include Televet, Fuzzy Pet Health, and Healthpets.
The countries covered in the veterinary services market are Argentina, Australia, Austria, Belgium, Brazil, Canada, Chile, China, Colombia, Czech Republic, Denmark, Egypt , Finland, France, Germany, Hong Kong, India, Indonesia, Ireland, Israel. , Italy, Japan, Malaysia, Mexico, Netherlands, New Zealand, Nigeria, Norway, Peru, Philippines, Poland, Portugal, Romania, Russia, Saudi Arabia, Singapore, South Africa, South Korea, Spain, Sweden, Switzerland, Thailand, Turkey, United Arab Emirates, United Kingdom, United States, Venezuela and Vietnam.
Read the full report: https://www.reportlinker.com/p05309005/?utm_source=GNW
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