Australia Veterinary Healthcare Market Size Set to Reach USD 137 Million By 2029

Published | 23 August 2023

Australia veterinary healthcare market is flourishing due to an increasing rate of pet adoption, rising pet healthcare expenditures, advancements in veterinary medicine and technology, growing awareness about animal health, and an expanding focus on preventive care.

BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, estimated Australia veterinary healthcare market size at USD 85.81 million in 2022. During the forecast period between 2023 and 2029, Australia veterinary healthcare market size is to grow at a robust CAGR of 8.11% reaching a value of USD 137 billion by 2029. The veterinary healthcare market in Australia showed a strong growth trend. Pet humanization tendencies and rising pet ownership rates have led to a rise in the market's need for pet care services. The rising demand for enhanced and specialized pet care led to a boom in the use of cutting-edge veterinary technologies and medications. Preventive care, wellness products, and nutritional supplements for pets are also becoming more and more popular. Additionally promising was the incorporation of telemedicine and digital health technologies in veterinary practices. With an emphasis on bettering pet health and well-being, the Australian veterinary healthcare market demonstrated a favorable outlook overall.

Australia Veterinary Healthcare Market – Overview

Veterinary healthcare is the specialized field of medicine and services focused on the well-being of animals. It encompasses preventive care, diagnosis, and treatment of illnesses and injuries in pets, livestock, wildlife, and other animals. Veterinary professionals, including veterinarians and veterinary technicians, play crucial roles in promoting animal health, disease prevention, and the human-animal bond. Services include vaccinations, surgical procedures, dental care, and nutritional counseling. Also, veterinary healthcare contributes to public health by monitoring zoonotic diseases. As animal companionship continues to grow, veterinary healthcare remains vital in ensuring the health and happiness of animals and their human caregivers.

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Impact of COVID-19 on Australia Veterinary Healthcare Market

The COVID-19 pandemic significantly impacted the Australia veterinary healthcare market, bringing both challenges and opportunities. While the veterinary industry was deemed essential, restrictions and lockdowns led to reduced foot traffic in clinics, affecting routine check-ups and elective procedures. Financial constraints faced by pet owners resulted in a decline in non-urgent medical care. However, the crisis also fostered a rise in telemedicine services and e-commerce for pet products, enhancing accessibility and remote consultations. Despite the setbacks, the market adapted to the changing landscape by incorporating digital solutions, and with the gradual recovery, it is poised for growth as pet ownership and demand for veterinary care regain momentum.

Australia Veterinary Healthcare Market – By Animal Type

By animal type, Australia veterinary healthcare market is divided into Dogs & Cats, Horses, Ruminants, Swine, and Poultry segments. This segment focuses on providing healthcare services and products for domestic pets, which are commonly found in households across the country. While the market is also categorized into Horses, Ruminants, Swine, and Poultry segments, it is the Dogs & Cats category that stands out due to the high number of owners of dogs and cats and the growing awareness of pet health and wellness. This segment's prominence reflects the strong bond between Australians and their companion animals.

Competitive Landscape

Australia veterinary healthcare market is fiercely competitive. Major companies in the market include Boehringer Ingelheim, Elanco, Merck Co. Inc., Vetoquinol SA, Virbac, Zoetis Inc., Chemvet Australia Pty Ltd, Jurox Pty Ltd, Idexx Laboratories, Abbey Animal Health Pty Ltd, QBiotics Group Limited, Ceva Animal Health Pty Ltd, Luoda Pharma Pty Ltd, and Sypharma Pty Ltd. These companies use various strategies, including increasing investments in their R&D activities, mergers, and acquisitions, joint ventures, collaborations, licensing agreements, and new product and service releases to further strengthen their position in Australia veterinary healthcare market.

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The in-depth analysis of the report provides information about growth potential, upcoming trends, and statistics of Australia Veterinary Healthcare Market. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in Australia Veterinary Healthcare Market and industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyzes the growth drivers, challenges, and competitive dynamics of the market.

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