Global Veterinary Services Market Valuation to Reach $159.5 Billion by 2028 | Production Animal Generates 61% Market Revenue | SkyQuest Technology – Yahoo Finance

Global veterinary services market was valued at USD 97.34 billion in 2021 and is expected to surpass valuation of USD 159.5 billion by 2028, at a CAGR of 5.7% over the forecast period (2022–2028).
Westford, USA, Oct. 06, 2022 (GLOBE NEWSWIRE) — The majority of revenue in the global veterinary services market is generated in North America, followed by Europe, Asia-Pacific, and rest of world. According to the National Pet Owners Survey 2021-2022, conducted by the American Pet Products Association (APPA), around 70% of United States households own a pet, which equates to 90.5 million homes, including 45.3 million cats and 69 million dogs.
There are an estimated 3.6 billion pet and farm animals in the global veterinary services market. This includes everything from dogs and cats to horses and chickens. Out of which, 2 billion animals fall in the category of meat and dairy. The majority of these animals live in developing countries, where they are often considered essential members of the family.
Pets and farm animals play an important role in global food security, providing valuable nutrients that would otherwise be unavailable. They also provide livelihoods for millions of people around the world who depend on them for their livelihoods. Despite their importance, pets and farm animals are often subject to poor welfare standards. In many cases, they are kept in conditions that would be considered unacceptable in developed countries. This is due to a lack of awareness of animal welfare issues, as well as a lack of regulation and enforcement.
From the last few years, the global veterinary services market has been booming. This is due in large part to the ever-growing popularity of pet ownership. As more and more people adopt furry friends into their families, the demand for professional veterinary care grows as well. SkyQuest, a leading market research firm, has released a new report analyzing the current state of the veterinary services market.
This comprehensive analysis by SkyQuest includes data on market size and trends, as well as insights into the competitive landscape. According to our report, increasing prevalence of pet insurance is one key factor behind this boom. As pet insurance becomes more common, pet owners are more likely to seek out professional care when their animals fall ill or are injured. The report also notes that the majority of veterinary services are currently provided by small animal clinics. However, there is growing demand for large animal veterinary services, particularly in rural areas. This is likely to lead to increased consolidation in the industry over the next few years.
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Growing Emphasis on Organic Milk to Boost Veterinary Services Market
The growing demand for organic milk is translating into increased demand for veterinary services, as more farmers look to organic milk production to meet consumer demand. According to a recent report on global veterinary services market from the SkyQuest, the number of organic dairy farms has grown by nearly 150% in the past decade, and organic milk sales have more than doubled over the same period. With this increase in organic milk production comes an increase in the need for veterinarians who are knowledgeable about organic milk production and the unique challenges that come with it.
Veterinarians play a vital role in ensuring that organic dairy farms are able to meet strict standards for milk quality and safety. They also provide valuable guidance on pasture management and grazing practices that can help improve herd health and optimize milk production. The growing demand for organic milk is good news for veterinary services market and practitioner who specialize in dairy production, as they are poised to see an uptick in business in the coming years.
Recently, Andhra Pradesh, a state in India, government announced to boost the organic milk practice to improve the milk quality and reduce the chemical composition of the milk. This, in turn, would help to improve the demand for veterinary services as the government is planning to appoint a large number of cattle doctors across the state. In line with this, the government would offer livestock insurance and would cover 80% premium.
Organic milk is produced without the use of synthetic hormones or antibiotics, and this healthy diet is translating into fewer health problems for cows in the global veterinary services market. That means less work for veterinarians in the short-term, but it also means that there will be an increased demand for routine care and preventative medicine as the industry grows.
So far, the response from veterinary schools has been positive, with many institutions increasing their enrolments to meet the expected demand. The future looks bright for both organic dairy farmers and the vets who keep them healthy.
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Production Animal Generates 61% Market Revenue
As the demand for meat and dairy products continues to grow, so does the need for veterinary services market for production animals. According to the latest figures from the United Nations Food and Agriculture Organization (FAO), the world’s population is expected to increase by more than two billion people by 2050, which will result in a significant increase in demand for livestock products. This means that more and more animals will be kept in intensive production systems, where they are often confined to small spaces and have little opportunity to exercise or express natural behavior.
A recent study on global veterinary services market found that production animals—cattle, swine, sheep, and poultry—represented only 17% of the total global animal population but accounted for 75 percent of the aggregate value of animal products sold. Yet, these same animals received only 19% of all veterinarian visits. Despite this, the segment is able to generate around 61% market revenue in 2021 and the share is expected to increase in the coming years.
The welfare of these animals is of paramount importance, not only for ethical reasons but also because it has a direct impact on their productivity. Poorly managed farms can lead to high levels of stress and disease in animals, which can have a major impact on their growth, reproduction and milk production. As a result, there is an increasing need for qualified veterinarians who are able to provide expert advice and care for production animals.
There are already many veterinarians working in this field across global veterinary services market, but the FAO estimates that we will need around 50% more by 2050.
There are a number of reasons why production animals need higher veterinary services. First, these animals are typically confined in close quarters, which makes them more susceptible to disease. Moreover, they are often given antibiotics and other medications prophylactically (i.e., to prevent disease), which can lead to the development of resistance. Finally, due to the high economic value of these animals, even a small health issue can have a major financial impact.
The global veterinary services market provides high-quality veterinary care for production animals. For example, using vaccinations and quarantine procedures can help to prevent the spread of disease. Additionally, regular check-ups and monitoring can help to identify health problems early on, before they have a chance to cause serious damage.
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Key Players in Global Veterinary Services Market
Mars Incorporated
Greencross Ltd.
Idexx Laboratories Inc.
CVS Group PLC
VetPartners
Addison Biological Laboratory
National Veterinary Care Limited
Ethos Veterinary Health
PetIQ, LLC.
Pets at Home Group PLC
Related Reports in SkyQuest’s Library:
Global Duchenne Muscular Dystrophy Market
Global Fast Melt Tablets Market
Global N-Acetylcysteine Market
Global Erectile Dysfunction Market
Global Pancreatic Cancer Treatment Market
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