U.S. Veterinarians Market Size is Estimated to Value $19.5 Billion By 2028

The U.S. veterinarians market size was valued at USD 10.7 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 8.5% from 2021 to 2028.

The U.S. Veterinarians Market size is expected to reach USD 19.5 billion by 2028, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 8.5% from 2021 to 2028. Growing cases of zoonotic and chronic diseases, increasing animal health expenditure, and growing awareness amongst end-users are the key factors driving the market. The American Veterinary Medical Association endorses the Compendium of Veterinary Standard Precautions for Zoonotic Disease Prevention in Veterinary Personnel.

As many people spending far more time in the household during the Covid-19 pandemic, the animal shelters across the country witnessed increased pet adoptions. Pet owners are paying more attention to their companions’ health and wellness. As a result of this, the market registered positive growth during the coronavirus crisis.

With the growing number of pet parents in the U.S., animal health awareness is rising amongst people. In the U.S., there are various pet health awareness events are conducted such as National Pet Week. Increasing awareness about veterinary healthcare and the implementation of strict regulations to prevent animal diseases are likely to be the key factors driving the market.

Related Press Release@ U.S. Veterinarians Market Report

U.S. Veterinarians Market Report Highlights

• Factors such as increasing consumption of meats, growing pet adoption rate, and mandatory vaccination are expected to boost demand for veterinary medicine and expertise, which, in turn, will fuel the demand for veterinarians
• Moreover, rising incidence of cancer, especially in canines, is expected to provide a growth platform for the market. As mentioned in the Veterinary Cancer Society press release, cancer is the leading cause of death in companions registered 32.0% and 47.0% of deaths in cats and dogs respectively
• The private segment emerged as the largest revenue-generating segment of the market in 2020. Increased private practitioner across the country due to high compensation rate as compared to public practices or academic profession is a key contributor for the segment dominance throughout the forecast period
• The companion animal exclusive practice amongst the private sector dominated the market in 2020. There is an exponential increase in companion animal adoption as people are spending more time at home and alone during the COVID-19 pandemic. Increasing spending on pet ranging from food to veterinary care along with surging adoption is expected to positively influence market growth