The veterinary care market ecosystem includes suppliers and end-users that have a major impact on the industry. Huge demand is created by the veterinarians and authorities that work for animal welfare. Animal welfare authorities undertake several initiatives, such as establishing animal rescue centers that increase the demand for veterinary products and services. Even the regional authorities work collaboratively with the veterinarians to improve the health of farm animals as well as companion animals that further proves beneficial for market growth.

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Latin America animal health market size is projected to reach around USD 9 billion by 2025 from around USD 5.2 billion in 2018, at a CAGR of 7.3% during the forecast period.

Merck is one of the leaders in the veterinary industry and has acquired considerable market share for the past few years. Moreover, it has maintained its prominent position by introducing new products to its existing portfolio. Besides, the company invests heavily in R&D to add innovations in the veterinary products that are being developed. Also, its vast portfolio complements its geographical presence that has positively impacted its revenue generation.

Companies and animal healthcare organizations associated with the veterinary care market include Zoetis (US), Merck (US), Boehringer Ingelheim (Germany), Elanco (US), Ceva (France), Phibro Animal Health Corporation (US), Abaxis, Virbac SA (France), IDEXX Laboratories, Inc., Neogen Corporation, Heska Corporation (US)  and others.

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Recent Developments

Zoetis acquired Ethos Diagnostic Science. This acquisition will not only expand company’s product portfolio but will also help the company to grow exponentially in the veterinary space.
Zoetis acquired ZNLabs a reference laboratory company that is operational across the U.S. This has helped the company to enhance its offerings and improve its business performance
Merck completed the acquisition of a Quantified Ag leading data analytics company that monitors cattle temperature and helps in the early detection of any disease. This acquisition will diversify Merck’s veterinary product offerings and will positively impact the company’s profitability.

Frequently Asked Questions (FAQ):

Which countries will have maximum demand for veterinary products/services?
Which countries should veterinary companies target to obtain maximum profits?
What are the animal population trends in different countries?
What is the overall animal health scenario in emerging economies?
What are the different regulations pertaining to farm animal health in countries?

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