Veterinary Hospital Market
Report ID: UCMIG35E2030
Veterinary Hospital Market Size
SkyQuest Technology's Veterinary hospital market size, share and forecast Report is based on the analysis of market data and Industry trends impacting the global Veterinary Hospital Market and the revenue of top companies operating in it. Market Size Data and Statistics are based on the comprehensive research by our Team of Analysts and Industry experts.
Veterinary Hospital Market Insights
Market Overview:
Between 2023 and 2030, the market for veterinary hospitals is anticipated to grow at a CAGR of 5.80%, reaching a value of USD 79.2 billion in 2022. The market is primarily driven by an increase in the number of animal hospitals, an increase in the number of companion animals and an increase in pet adoption rates, as well as an increase in the public's understanding of animal healthcare and acceptance of pet insurance. For instance, Trupanion, a company that offers pet insurance, reported a 31% rise in enrollments for pet insurers to 1.53 million in December 2022, up from 1.53 million the year before. The general public's awareness of animal care is expanding along with the number of pet owners. Numerous pet health awareness programmes, such as National Pet Week, are frequently organised in wealthy countries such as the United States. Increasing veterinary healthcare knowledge, combined with the adoption of severe laws to avoid animal diseases, is expected to boost market expansion. Over the projected period, an increasing number of government efforts to promote veterinarian services in hospitals and clinics are likely to fuel market expansion.
Veterinary Hospital Market, Forecast & Y-O-Y Growth Rate, 2020 - 2028
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This report is being written to illustrate the market opportunity by region and by segments, indicating opportunity areas for the vendors to tap upon. To estimate the opportunity, it was very important to understand the current market scenario and the way it will grow in future.
Production and consumption patterns are being carefully compared to forecast the market. Other factors considered to forecast the market are the growth of the adjacent market, revenue growth of the key market vendors, scenario-based analysis, and market segment growth.
The market size was determined by estimating the market through a top-down and bottom-up approach, which was further validated with industry interviews. Considering the nature of the market we derived the Health Care Facilities by segment aggregation, the contribution of the Health Care Facilities in Health Care Equipment & Services and vendor share.
To determine the growth of the market factors such as drivers, trends, restraints, and opportunities were identified, and the impact of these factors was analyzed to determine the market growth. To understand the market growth in detail, we have analyzed the year-on-year growth of the market. Also, historic growth rates were compared to determine growth patterns.
Veterinary Hospital Market Report Snapshots
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