Veterinary services are those services which are
serve to offer healthcare for animals-especially pets, farm animals and animals
kept in zoos and wildlife parks. The sector of veterinary services involves
clinics and animal hospitals, pet food and products and laboratory services
retailed through veterinaries. Moreover, the sub segments in the clinics and
animal hospitals sector involve surgical procedures, routine examinations and
non-surgical processes.
Economic growth, latest technological advances, increasing
livestock population and more severe government rules and regulations are the
some major key drivers of the veterinary service market whereas, the interest
rate increases and global warming are the major restraints on the market.
Moreover, the key players of this industry are adopting the effective
technologies for gaining the highest share and leading the market growth significantly
in the recent trend.
According to the report analysis, ‘Veterinary Services Global Market
Opportunities And Strategies To 2021 Including: Animal Hospitals and Veterinary
Clinics and Veterinary Laboratory Testing Services Covering: VCA, Banfield Pet Hospital,
Greencross Limited, CVS Group’states that some of the major companies
which are currently functioning in this sector more actively for acquiring the
highest share by defeating the demand of the potential consumers includesInternational
Center for Veterinary Services, Shengpu Pet Hospital, Paw Veterinary Clinic,
Chengdu Vet Hospital, Canberra Veterinary Hospital, International Centre for
Veterinary Services, Noah Animal Hospital, Blue Cross of India, ICAR-IVRI,
Sanjay Gandhi Animal Care Center,Royal Veterinary College, Blacks Vets Dudley
Hospital, France Ave Pet Hospital, German Village Veterinary Hospital, AniCura
Group, AAH Veterinary Services, VCA animal hospitals, Banfield Pet Hospitals,
Vanguard Veterinary Hospital, Foothill Farms Veterinary Hospital, Smith Animal
Hospital, Four Loving Paws Veterinary Services, Pet Care Hospital Veterinario
Ltd, Brazil Animal Clinic, Clinica Veterinaria Prontovet and Clear Lake
Veterinary Hospital, The British Veterinary Center (Abu Dhabi), Dubai Equine
Hospital, American Veterinary Clinic (UAE) and the Veterinary Hospital (Dubai),
Drakenstein Veterinary Clinic, South African Veterinary Association,
Onderstepoort Veterinary Academic Hospital and several others. Whereas, the major
three players, VCA Inc., Banfield Pet Hospitals and Greencross Limited had
about 4.2% of universal revenue from veterinary services. Moreover, the key
players in the medical and diagnostic laboratory services are benefitted with
the mergers and acquisition activities in the last three years which has been
done at a medium level whereas, the leading deals have involved those completed
by VCA, CVS, Novozymes and Mars Inc.
The market of veterinary has observed rapid
consolidation in the historic period and this will pursue in future as well. Moreover,
on the basis of geography the market of veterinary is spread across the globe
which includes some apparent regions which includes Asia Pacific region,
Western Europe, North America, South America, Middle East, Africa and rest of
the world. Whereas, the veterinary services market across the globe grew from
USD 73.9 billion in 2013 to USD 97.8 billion in 2017 at a CAGR of 7.2% and is
anticipated to reach to USD 124.4 billion by 2021 at a CAGR of 6.2%. The North
America region was the highest region in the global market of veterinary
services tailed by Western Europe, Asia Pacific region, Eastern Europe, Africa,
South America and the Middle East.
The global market of veterinary services will grow
more significantly in the coming years over the decades with major trends such
as wearables to monitor pet health, technological implementation and several others.
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