Straits Research Releases Comprehensive Veterinary Services Market Report
Global Veterinary Services Market to Reach USD 182,009.07 Million by 2031 with a CAGR of 7.2%
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Straits Research has unveiled its latest report on the global veterinary services market, highlighting significant growth prospects and emerging trends that are shaping the industry. Valued at USD 97,350.90 million in 2022, the market is expected to reach USD 182,009.07 million by 2031, growing at a robust CAGR of 7.2% during the forecast period (2023–2031).
Market Definition The veterinary services market encompasses a wide range of services provided to maintain and improve the health of animals, including companion animals and livestock. These services include diagnostic tests, imaging, surgeries, physical health monitoring, and other specialized treatments. As the importance of animal health continues to rise, veterinary services are becoming increasingly sophisticated, incorporating advanced technologies and methods.
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Latest Market Trends
Increased Adoption of Digital Veterinary Platforms: Telemedicine and online consultations have revolutionized veterinary care, providing pet owners with convenient access to veterinary professionals and reducing the need for in-clinic visits.
Technological Advancements in Diagnostic Tools: The development of AI-powered imaging systems and portable diagnostic devices has enhanced the efficiency and accuracy of veterinary diagnostics.
Growing Focus on Preventative Care: Preventative measures, including vaccinations and regular health check-ups, are gaining traction among pet owners, driving demand for comprehensive veterinary services.
Growth Factors
Rising awareness about animal health and welfare.
Increasing pet ownership worldwide, particularly in urban areas.
Expansion of veterinary healthcare infrastructure in emerging economies.
Key Market Opportunities
Adoption of advanced diagnostic and imaging technologies.
Growth in veterinary telemedicine platforms.
Rising investments in research and development for animal health solutions.
Market Segmentation
By Service:
Surgery
Diagnostic Tests and Imaging
Physical Health Monitoring
Other Services
By Animal Type:
Companion Animal
Farm Animal
Access Detailed Segmentation @ https://straitsresearch.com/report/veterinary-services-market/segmentation
Key Players in the Veterinary Services Market
CVS Group PLC
Ethos Veterinary Health
Greencross Vets
Idexx Laboratories Inc.
Mars Inc.
Pets at Home Group PLC
Armor Animal Health (Animart)
Kremer Veterinary Services
FirstVet AB
CityVet Inc.
These key players are investing in technological advancements, strategic collaborations, and service expansions to gain a competitive edge in the global market.
Regional Insights
Dominated Region: North America holds the largest market share, driven by high pet ownership rates, advanced veterinary infrastructure, and strong awareness of animal health.
Fastest Growing Region: Europe is anticipated to witness the highest growth rate during the forecast period, attributed to rising demand for veterinary services and increasing investment in animal healthcare.
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Conclusion The global veterinary services market is poised for significant growth, driven by technological advancements, rising pet ownership, and increasing awareness about animal health. Straits Research’s detailed analysis provides valuable insights into market dynamics, opportunities, and key players, offering an essential resource for stakeholders aiming to navigate this expanding market.
For further details or to access the complete report, visit Straits Research.
