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Global Animal Hospitals And Veterinary Clinics Market Size study, by Type, Application and Regional Forecasts 2021-2030


Global Animal Hospit

iCrowdNewswire   Jan 9, 2021  9:54 PM ET

Animal Hospitals And Veterinary Clinics Market:

WiseGuyReports.com adds “Global Animal Hospitals And Veterinary Clinics Market Research Report 2021 Analysis and Forecast 2030” reports to its database.

Executive Summary

The Animal Hospitals And Veterinary Clinics services market consists of sales of Animal Hospitals And Veterinary Clinics services such as consultation, surgery, medicine and other food items for animals. Veterinary Clinic are those premises at which veterinary surgery is practiced, but at which animals are not retained overnight. In veterinary hospitals veterinary surgery is practiced and animals receive treatment, nursing care, and other services. Services in veterinary hospitals include reception, treatment and care of animals suffering from disease or injury or in need of surgical or medical treatment or assistance.

The global animal hospitals and veterinary clinics market is expected to decline from $91.4 billion in 2019 to $70.8 billion in 2020 at a compound annual growth rate (CAGR) of -22.6%. The decline is mainly due to COVID-19 outbreak and the measures to contain it. Several veterinary care facilities in affected countries have been completely closed or have been only providing minimal treatment for emergency cases. This is because, the global public health organizations have recommended some medical facilities to postpone or cancel non-urgent visits/services, and to prioritize urgent and emergency visits and procedures in order to contain the coronavirus spread. The market is then expected to recover and grow at a CAGR of 5.2% from 2021 and reach $111.3 billion in 2023.

North America was the largest region in the animal hospitals and veterinary clinics market in 2018, followed by Western Europe, Asia Pacific and Eastern Europe respectively.

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The rise in adoption of companion pets globally is driving the animal hospitals and veterinary clinics market. The key factor behind this rise in adoption is increasing humanization of pets, as an increasing number of pet owners are accepting pets as family members. According to American Veterinary Medical Association report, there was a correlation between the degree of human/animal bond and pet spending. According to American Society for the Prevention of Cruelty to Animals (ASPCA), In the USA, approximately 3.2 million shelter animals are adopted each year. Also, according to a study in 2018, Americans spent about $17 billion on veterinary care in hospital, clinics and food. Similarly, Chinese pet owners spent more than 5,000 yuan per pet in 2018, an increase of 15% from 2017. With this growth, the animal hospital and veterinary clinics market is expected to grow in the forecast period.

Veterinary healthcare access is relatively poor in most developing countries and some developed nations. Globally, the disease burden is significantly high in low and middle income countries. For instance, in 2014, India reported approximately 63,000 veterinarians while the country required more than 150,000 veterinarians . Thus, shortage of skilled veterinarian professionals is having a negative impact on the growth of the animal hospital and veterinary clinics market.

Many veterinary care service providers are adopting big data technologies to provide better treatment for pets, livestock and animals. This technology is used to diagnose and assess potential diseases. Big data enables veterinarians identify the diseases affecting cattle and pets in various locations and regions. For instance, Bayer Healthcare Animal introduced applications to assess potential signs of diseases in animals, thus enabling faster diagnosis and treatment of disease conditions. Some of the major veterinary care providers opting big data analytics to treat pet health issues are VCA Inc., Banfield Pet Hospitals and Greencross Limited.

The animal hospital and veterinary clinics market is regulated by authorities such as the Australian Pesticides and Veterinary Medicines Authority (APVMA). In Australia, Under Section 24A of the Veterinary Surgeons Act 1960 (Act) prescribes that premises which will be or are used as a veterinary clinic or veterinary hospital (veterinary premises), must be registered by the Veterinary Surgeons’ Board (Board). The Board only registers veterinary premises when it is satisfied that the premises are suitable for the purpose for which they are proposed to be used and the veterinary premises are under the management of a veterinary surgeon.

Major players in the market are VCA Inc., Banfield Pet Hospital, Greencross Ltd., CVS Group Plc, Mars, Inc.

Continuous…

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