Dublin, Jan. 24, 2023 (GLOBE NEWSWIRE) -- The "Animal Hospitals And Veterinary Clinics Global Market Opportunities And Strategies To 2031" report has been added to ResearchAndMarkets.com's offering.
This report describes and explains the animal hospitals and veterinary clinics market and covers 2016 to 2021, termed the historic period, and 2021 to 2026 termed the forecast period, along with further forecasts for the period 2026-2031. The report evaluates the market across each region and for the major economies within each region.
The animal hospitals and veterinary clinics market reached a value of nearly $95,938.6 million in 2021, having grown at a compound annual growth rate (CAGR) of 3.9% since 2016. The market is expected to grow from $95,938.6 million in 2021 to $138,368.5 million in 2026 at a rate of 7.6%. The market is then expected to grow at a CAGR of 6.6% from 2026 and reach $190,909.6 million in 2031.
Growth in the historic period resulted from strong economic growth in emerging markets, increased pet population, growing penetration of e-commerce platforms promoting online pharmacies, increased pet insurance and rise in animal healthcare expenditure. Factors that negatively affected growth in the historic period were lack of awareness and coronavirus (COVID-19) outbreak.
Going forward, increasing prevalence of zoonotic diseases, increasing disease prevalence, increasing pet ownership, increasing disposable income and increasing urbanization will drive the growth. Factors that could hinder the growth of the animal hospitals and veterinary clinics market in the future include shortage of veterinarians, lack of infrastructure for providing emergency veterinary services and high cost associated with animal healthcare drugs in low-middle income countries.
The animal hospitals and veterinary clinics market is segmented by type into consultation, surgery, medicine and other types. The consultation market was the largest segment of the animal hospitals and veterinary clinics market segmented by type, accounting for 47.5% of the total in 2021. Going forward, the medicine segment is expected to be the fastest growing segment in the animal hospitals and veterinary clinics market segmented by type, at a CAGR of 10.4% during 2021-2026.
The animal hospitals and veterinary clinics market is segmented by animal type into farm animals and companion animals. The companion animals market was the largest segment of the animal hospitals and veterinary clinics market segmented by animal type, accounting for 65.0% of the total in 2021. Going forward, the companion animals segment is expected to be the fastest growing segment in the animal hospitals and veterinary clinics market segmented by animal type, at a CAGR of 7.8% during 2021-2026.
The animal hospitals and veterinary clinics market is also segmented by end-user into animal care, animal rescue and other end users. The animal care market was the largest segment of the animal hospitals and veterinary clinics market segmented by end-user, accounting for 56.2% of the total in 2021. Going forward, animal rescue segment is expected to be the fastest growing segment in the animal hospitals and veterinary clinics market segmented by end-user, at a CAGR of 8.1% during 2021-2026.
North America was the largest region in the animal hospitals and veterinary clinics market, accounting for 44.6% of the total in 2021. It was followed by Western Europe, Asia Pacific and then the other regions.
Going forward, the fastest-growing regions in the animal hospitals and veterinary clinics market will be North America and Eastern Europe where growth will be at CAGRs of 10.7% and 7.5% respectively. These will be followed by Asia Pacific and South America where the markets are expected to grow at CAGRs of 6.7% and 6.2% respectively.
The top opportunities in the animal hospitals and veterinary clinics market segmented by type will arise in the consultation segment, which will gain $17,866.1 million of global annual sales by 2026. The top opportunities in the animal hospitals and veterinary clinics market segmented by animal type will arise in the companion animals segment, which will gain $28,238.3 million of global annual sales by 2026. The top opportunities in the animal hospitals and veterinary clinics market segmented by end-user will arise in the animal care segment, which will gain $22,916.6 million of global annual sales by 2026. The animal hospitals and veterinary clinics market size will gain the most in USA at $22,318.8 million.
| Report Attribute | Details |
| No. of Pages | 276 |
| Forecast Period | 2021 - 2031 |
| Estimated Market Value (Million) in 2021 | Million95938.6 Million |
| Forecasted Market Value (Million) by 2031 | Million190909.6 Million |
| Compound Annual Growth Rate | 7.1% |
| Regions Covered | Global |
Major Trends And Strategies
- Launch Of Mobile Veterinary Units
- Use Of Telemedicine Platforms To Reduce The Impact of COVID-19
- Launch Of New Products
- Stem Cell Therapy To Treat Animals
- Use Of Artificial Intelligence
- Polymerase Chain Reaction (PCR) For Early Detection
- Molecular Biology Advances Providing New Diagnostic Tools
- Wearables To Monitor Pet Health
- Application Of Nanotechnology In Veterinary Medicines To Tackle Antibiotic Resistance
- Big Data In Veterinary Care
- Electronic Health Records
- Premium Veterinary Care Services
- Collaboration With Technology Companies To Boost Innovation
Key Topics Covered:
1. Executive Summary
2. Table of Contents
3. List of Figures
4. List of Tables
5. Report Structure
6. Introduction and Market Characteristics
7. Major Trends And Strategies
8. Global Market Size And Growth
9. Global Market Segmentation
10. Global Market, Regional And Country Analysis
11. Asia-Pacific Market
12. Western Europe Market
13. Eastern Europe Market
14. North America Market
15. South America Market
16. Middle East Market
17. Africa Market
18. Competitive Landscape And Company Profiles
19. Key Mergers And Acquisitions
20. Opportunities And Strategies
21. Animal Hospitals And Veterinary Clinics Market, Conclusions And Recommendations
A selection of companies mentioned in this report includes
- Mars Inc.
- CVS Group Plc
- National Veterinary Associates Inc.
- Medivet Group Limited
- Apiam Animal Health Limited
For more information about this report visit https://www.researchandmarkets.com/r/jdroxn-hospitals?w=12
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