In a recent published report, Veterinary Healthcare Market report for till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U S Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) average exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Veterinary Healthcare Market products.
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Moreover, increasing expenditure on healthcare, backed by the need amongst individuals for quality healthcare services, is also anticipated to contribute to the market growth. According to the statistics by the World Bank, the current health expenditure (% of GDP) around the world increased from 9.08% in 2001 to 9.84% in 2018. Additionally, the current health expenditure per capita (current US$) increased from USD 492.99 in 2001 to USD 1110.84 in 2018.
Veterinary healthcare refers to the treatment, diagnosis and prevention of diseases among animals both domestic and wild. The major end-users for this product are mainly households, veterinary clinics, pet centres, animal farms etc.
The following factors are significant in deciding the fate of the market:
During the breeding practises in the farms or the transportation of the animals or even randomly, they get infected by dangerous pathogens and strains of influenza viruses. The growing meat consumption of animal meat like chicken and pork adds human beings to the exposure of these harmful pathogens, which could be really fatal at times. So veterinary checkups have become extremely important to reduce or prevent these. The acceptance of the pets as family members has encouraged the spending on their healthcare too. Owing to global awareness sometimes regular veterinary services are availed simply due to the deterrence of occurrence of diseases. Drug regulations are much more lenient compared to the human scenario. As a result much fewer hurdles are faced for new drug, additives and medicine launches for the animals. Wild animals especially those facing severe threats of extinction are regularly treated by veterinary doctors as a part of ecological movements and conservation policies of fauna.
“Final Report will add the analysis of the impact of COVID-19 on this industry.”
Rising costs of the researches, strict policies in some countries are the major hindrances in the market.
Market opportunities mainly lie in government incentives, acquisition of the local companies by the global giants and increased advertisements.
The market can be segmented into the following categories:
based on animal type:
based on product:
medicines for reproductive problems
Nutritional Feed Additives
Medicinal Feed Additives
based on geography:
Middle east and Africa
North America is the current leader in the global level followed by Europe and the Asia Pacific respectively. However, the Asia Pacific nations are witnessing the fastest growth rate in the coming years.
Some of the key players in the market are:
Report Contents Regional Analysis Report Highlights
Market Drivers, Restraints and Opportunities
Market Size & Forecast 2016 to 2022
Supply & Demand Value Chain
Market – Current Trends
Competition & Major Companies
Technology and R&D Status
Porters Five Force Analysis
Strategic and Critical Success Factor Analysis of Key Players
US and Canada
Mexico, Brazil, Argentina and Rest of Latin America
EU5 (Germany, France, Italy, Spain, U.K.)
Nordic Countries (Denmark, Finland, Norway, and Sweden)
Benelux (Belgium, The Netherlands, and Luxembourg)
Rest of Western Europe
Rest of Eastern Europe
Australia and New Zealand
Rest of Asia Pacific
Middle East and Africa
GCC countries (Saudi Arabia, Oman, Qatar, Bahrain, UAE and Kuwait)
Rest of Middle East and Africa
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This report is an elaborate aggregation of primary inputs from industry experts and participants across the supply chain. It provides details on market segmentation which is derived from several product mapping exercises, macroeconomic parameters and other qualitative and quantitative insights. The impact of all such factors is delivered across multiple market segments and geographies.
Detailed Historical Overview (Market Origins, Product Launch Timeline, etc.)
Consumer and Pricing Analysis
Market dynamics of the industry
Estimated Market Sizing in terms of volume and value
Recent trends in Market and impact
Research Status and Technology Overview
Extensive Industry Structure Coverage
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