Veterinary Wellness Market Size, Industry Status, Growth Opportunity for Leading Players: Factmr
Veterinary Wellness Market: Insights
Veterinary wellness are services provided by veterinary hospitals and veterinary clinics to improve the health of veterinary animals. Under veterinary wellness, veterinary hospitals and clinics launch various plans and programmes by collaborating with various veterinary associations. Veterinary wellness creates opportunities for clients to understand the importance of taking proactive care of their pets. Veterinary wellness care can be helpful in detecting chronic diseases during early phases, which helps in providing the appropriate treatment. Veterinary wellness also creates better partnerships between clients and hospitals by improving the level of veterinary care. Veterinary wellness plans also give pet owner an estimated budget for improved care of their pet and elaborates on how pet owners can decease the healthcare expenditure on their pets. Pet owners who follow veterinary wellness are required to visit veterinary hospitals very few times a year. Veterinary wellness programmes are generally organized by veterinary hospitals and veterinary clinics. In the U.S., the American Veterinary Medical Association has made major contributions in raising awareness about veterinary wellness. The American Veterinary Medical Association has also launched various veterinary wellness programmes to provide better treatments for pet animals. These veterinary wellness programme are guided by experience veterinary doctors and veterinary nurses.
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Veterinary Wellness Market: Drivers and Restraints
Increasing consumer spending on veterinary care is the primary factor driving the growth of the veterinary wellness market. Moreover, rising pet adoption in Latin American and Asia Pacific will also propel the growth of the veterinary wellness market over the forecast period. Pet owners have become quite concerned about the health of their pets and also take immense care of their pet or live stock in case of an injury or disease. This will lead to the robust growth of the veterinary wellness market in near future. However, many pet owners are not always in a position to afford the appropriate treatment for their pets and this may affect the veterinary wellness market negatively. Lack of availability of veterinary doctors in low income countries will also hamper the growth of veterinary wellness market over the forecast period. Also, lack of awareness among people about veterinary wellness will also restraint the growth of Veterinary Wellness market.
Veterinary Wellness Market: Overview
The veterinary wellness is expected to show exponential growth over the forecast period owing to increasing pet adoption throughout the globe. According to the American Hospital Association, 80% of pet owners treat their pets as their children, which has increased the overall spending on veterinary care. By service type, the aesthetic care segment will gain highest traction in the global veterinary wellness market. By animal type, canine and feline segments are, collectively, expected to gain maximum market share in the veterinary wellness market. Among all service providers, veterinary hospitals will be the fastest growing segment in the global veterinary wellness market.
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Veterinary Wellness Market: Regional Outlook
Geographically, the global veterinary wellness market is segmented into North America, Latin America, Europe, CIS and Russia, Asia-Pacific excluding Japan (APEJ), Japan and the Middle East and Africa (MEA). North America is expected to gain maximum market share in terms of revenue owing to increased veterinary care spending. The North America Veterinary wellness market will be followed by Western Europe and Latin America due to due to rising disposable income and healthcare expenditure in these regions. Asia-Pacific excluding Japan region is expected to grow at a faster rate than other regions due to rising pet adoption. Middle East and Africa is expected show sluggish growth due to lack of availability of veterinary doctors in these regions.
Veterinary Wellness Market: Key Players
Some of the key players operating in the global Veterinary Wellness Market are Veterinary Wellness Center, VetNetwork, LLC, VetMatrix, Zoetis Services LLC., Pitts Veterinary Hospital. Wellness Veterinary Clinic, LLC, Whole Pet Vet Hospital & Wellness Center Binford Pet Wellness Clinic, and others.
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