The new concern in the veterinary
community is the wave of corporatisation hitting the industry. With Mars’ acquisition
of Veterinary Medicine Company, small market players began to feel
disenfranchised and restricted by the corporatization. Mars also expanded into
the pet healthcare industry in 2015, with the acquisition of BluePearl. This
corporatization could work as a positive force by centering the veterinarian agency and autonomy and also support the
infrastructure and business training to the veterinarians, without rigidly
dictating the smaller players. As the animal healthcare industry consolidates,
the margins are expected to witness some resiliency. Potential acquisition
targets also offer some interesting investment opportunities.
THE BUSINESS RESEARCH COMPANY VALUED
THE VETERINARY HEALTHCARE MARKET AT $27 BILLION IN 2017
North America was the largest
geographic region in the market, accounting for around 44% of the global
market. The USA was the largest country accounting for nearly 40% of the global
veterinary healthcare market.
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According to The Business Research
Company’s Consultant, Nitin Gianchandani, the pet insurance industry is
offering new product lines for veterinary services in developed markets. The
insurance cover helps pet owners to explore a range of treatment options
available ensuring better health care of
animals. For example, Healthy Paws pet insurance offers insurance for pet
illness, accidents, hereditary and congenital conditions, chronic conditions
and alternative care.
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Bayer AG was the biggest player in the
veterinary healthcare market in 2017, with revenues of $4.5 billion in 2016. Bayer AG ranks among the leading international innovators in its field. Driven by
an increasing world population and higher incomes, the animal health market
remains very attractive. In the companion animals segment, Bayer AG is
benefiting from growing pet ownership rates.
Veterinary healthcare deals with
veterinary medical and remedial care services. Veterinary healthcare includes
veterinary services, animal medicine and veterinary medical equipment.
Veterinary Healthcare Global Market
Report 2018 is a detailed report giving a unique insight into this market.
The report is priced at $6000 for an individual user. To use across your office, the price is $9000 and
$12000 if you wish to use across a multinational company.
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