Press Release: November 27, 2018
Electronic health records offer an efficient way to collect and store electronic health information about a client and their pets. Electronic health records accurately represent vital data while ensuring pet history and relevant information is always accessible and easy to use, in order to increase efficiencies as a result of allowing veterinarians to examine possible trends and long-term changes in the pet’s record.
THE BUSINESS RESEARCH COMPANY EXPECTS THE VETERINARY SERVICES MARKET TO GROW TO $126 BILLION BY 2021
North America was the largest region in the veterinary services market in 2017, accounting for almost half of the global market share.
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The chart below shows the year-on-year growth of the global veterinary services market during 2017 – 2021
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 healthcare 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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VCA was the largest player in the market, with revenues of $2.5 billion for the financial year 2016. VCA’s strategy is to acquire independent animal hospitals. VCA seeks to generate revenue growth by taking advantage of the growing number of outsourced diagnostic tests to expand in animal testing and increase its market share.
The veterinary services market is segmented into animal hospitals and veterinary clinics and veterinary laboratory testing services.
Animal hospitals and veterinary clinics provide health care facilities for non-human animals. They diagnose, treat and cure any kind of illnesses, diseases and injuries caused to the animals.
Veterinary laboratory testing services include testing non-human animal specimens to diagnose any kind of illness and later send the reports for treatment.
Veterinary Services Global Market Report 2018 is a detailed report giving a unique insight into this market. The report is priced at $4000 for an individual user. To use across your office, the price is $6000 and $8000 if you wish to use across a multinational company.
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