VETERINARY SERVICES MARKET ANALYSIS

Regional Analysis

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North America is the dominant region in the global veterinary services market and is estimated to hold 34.8% of the market share in 2024. The region has a highly developed veterinary infrastructure and services catering to the needs of a large companion and production animal populace. The U.S. accounts for the largest share within the North America veterinary services market with the highest number of veterinary practices, hospitals, and trained professionals. Animal health is considered as an important part of the overall healthcare domain in the region contributing notably to disease prevention, food safety, and public health. This has enabled sustained government support and funding for veterinary education, research and services over the years. The region is also a major trading hub for veterinary pharmaceuticals and vaccines supplying to other developed as well as developing economies worldwide.

Asia Pacific region has emerged as the fastest growing market for veterinary services globally in recent times. Rapidly developing veterinary infrastructure, rising animal husbandry and growing companion animal market are some of the chief growth drivers. Countries like China, India, and several Southeast Asian nations dominate the region's production animal market with a large bovine and small ruminant population. At the same time, increased pet adoption and rising per capita pet care expenditure are fueling market growth for companion animal veterinary services. The region has witnessed expansion of multinational as well as regional veterinary practices and hospitals focusing on production as well as companion animals. Asia Pacific is also an attractive market for foreign investments and international veterinary pharmaceutical companies due to its growing potential. Affordable pricing of veterinary services and products in certain countries is further propelling market growth in the region.