Market Overview

Veterinary Serices Global Market Opportunities And Strategies To 2021

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Veterinary Serices Global Market Opportunities And Strategies To 2021

PR Newswire

NEW YORK, August 15, 2018 /PRNewswire/ -- Veterinary Services Global Market Opportunities And Strategies By Types Of Hospitals: Animal Hospitals & Veterinary Clinics, Laboratory Services, Pet Food And Product Sales; With Forecast Until 2021

Read the full report: https://www.reportlinker.com/p05482368

Executive Summary
Veterinary services provide healthcare for animals - especially pets, farm animals, and animals kept in zoos and wildlife parks. Veterinary service segments include animal hospitals and clinics, laboratory services, and pet food and products sold through veterinarians. The subsegments in the animal hospitals and clinics segment include routine examinations, surgical procedures and non-surgical procedures. Major trends shaping the animal hospitals and clinics segment include big data analytics, wearables to monitor pet health, electronic health records, technology implementation, specialty service offerings, premium veterinary services, new vaccines against livestock diseases and stem cells therapy to treat animals. Trends in the laboratory services include molecular biology advances aiding new diagnostic tool offerings, polymerase chain reaction (PCR) for early disease detection, and handheld technology use for medical examinations. Customers for veterinary services include livestock farmers, individual pet owners and other smaller groups such as owners of working animals, zoos and rescue centers and government and non-government organizations that implement animal health and
welfare measures.

The global veterinary services market grew from $73.9 billion in 2013 to $97.8 billion in 2017 at a compound annual growth rate (CAGR) of 7.24% and is expected to grow to $124.4 billion by 2021 at a CAGR of 6.20%..

Major drivers of the veterinary services industry in the historic period included emerging markets growth, increased pet spending, increased pet ownership by gen x and gen y adults, and increased requirements for certification to export meat products; major restraints on the market included shortage of trained veterinarians, high costs and limited government support.

Major drivers of the veterinary services industry in the forecast period include economic growth, technology advances, rising livestock population and more stringent government regulations and major restraints on the market include interest rate increases and global warming.

North America was the largest region in the veterinary services market followed by Western Europe, Asia Pacific, Eastern Europe, Africa, South America and the Middle East. The USA was the largest country in this market followed by China and the UK. China was the fastest growing market in the historic period and will grow at a CAGR of 13.50% in during 2017-2021.

China had the highest animal population followed by the USA and Brazil, whereas the UK had the highest average revenue per animal followed by Germany and the USA. Global per capita veterinary services expenditure on animal healthcare grew from $10.49 in 2013 to $13.2 in 2017 and is expected to grow to $16.1 in 2021. Per capita veterinary services expenditure was highest in the USA followed by Australia and the UK. The veterinary services market shares in global GDP grew from 0.10% to 0.12% in the same period and will grow to 0.13% in the forecast period and its share in the GDP was the highest in UK accounting for 0.22% in 2017.

The global veterinary services market is highly fragmented – the top six competitors in the market made up only 4.81% of the total in 2017. The biggest three players, VCA Inc., Banfield Pet Hospitals and Greencross Limited had about 4.2% of worldwide revenue from veterinary services. The veterinary services market has experienced rapid consolidation during the historic period, and this will continue going forward. In 2016, 15-20% of the US veterinary services market was owned by larger corporations. Merger and acquisition activity in the medical and diagnostic laboratory services market in the last three years has been at a medium level. Leading deals have included those completed by Mars Inc, VCA, CVS and Novozymes.

Description

Veterinary services provide healthcare for animals - especially pets, farm animals, and animals kept in zoos and wildlife parks. Healthcare is required in cases of disease or injury and for health maintenance and management.
This industry comprises licensed veterinary practitioners who practice veterinary medicine, dentistry or surgery for animals.

Where is the largest and fastest growing market for veterinary services? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The veterinary services global market report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, pestle analysis, porters five force model, segmentation, regional and country breakdowns, competitive landscape, market shares, mergers and acquisitions, customer information, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.

• The market characteristics section of the report defines and explains the market.
• The market size section gives the market size (NYSE:B) covering both the historic growth of the market and forecasting the future. Drivers and restraints cover the external factors supporting and controlling the growth of the market.
• PESTLE Analysis covers the political, economic, social, technological, legal and environmental factors affecting the veterinary services.
• Porters five force model covers the threat of new entrants, threat of substitutes, bargaining power of buyers, bargaining power of suppliers and industry competition for the veterinary services market.
• Market segmentation by service breaks down the market into animal hospitals and veterinary clinics and veterinary laboratory testing services. The historic and forecast growth rates for these segments are also covered in this report.
• The regional and country breakdown section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers all the regions, key developed countries and major emerging markets.
• The competitive landscape section gives a description of the competitive nature of the market, market shares, and a description of the leading companies in terms of their offerings, growth strategy and financial performance.
• The report also covers key mergers and acquisitions in the veterinary services market. Key financial deals which have shaped the market in recent years are identified.
• The customer information section covers major surveys conducted on the global veterinary services market and their implications.
• The trends and strategies section highlights the likely future developments in the market and suggests approaches companies can take to exploit this.

Scope
Markets covered: Animal hospitals and veterinary clinics and veterinary laboratory testing services
Companies mentioned: VCA, Banfield Pet Hospital, Greencross Limited, CVS Group
Countries: USA, UK, Germany, France, Italy, Spain, Russia, Brazil, Australia, China, India, Japan
Regions: Asia-Pacific, North America, South America, Western Europe, Eastern Europe, Middle East & Africa.
Time series: Five years historic and forecast.
Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.

Why this report?

Timely and Critical:
- Insurance Services Aiding Pet Owners
- Electronic Health Records
- Specialty Services
- Portable Technology
-Industry Consolidation
- New Technologies For Livestock Vaccine
- High Competition From Low Cost Providers
-Social Media Platform For Promoting Veterinary Services

Reasons to Purchase
• Outperform competitors using accurate up to date demand-side dynamics information.
• Identify growth segments for investment.
• Facilitate decision making on the basis of historic and forecast data and the drivers and restraints on the market.
• Create regional and country strategies on the basis of local data and analysis.
• Stay abreast of the latest customer and market research findings
• Benchmark performance against key competitors.
• Develop strategies based on likely future developments.
• Utilize the relationships between key data sets for superior strategizing.
• Suitable for supporting your internal and external presentations with reliable high quality data and analysis
• Gain a global perspective on the development of the market.

Read the full report: https://www.reportlinker.com/p05482368

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