Report Overview

Australia Veterinary Healthcare Market – Industry Trends & Forecast Report, 2029

Australia veterinary healthcare market size was estimated at USD 85.81 million in 2022. During the forecast period between 2023 and 2029, the size of Australia veterinary healthcare market is projected to grow at a CAGR of 8.11% reaching a value of USD 137 million by 2029. Australia veterinary healthcare market indicated a robust growth trajectory. The market witnessed an increasing demand for pet care services, driven by rising pet ownership and pet humanization trends. Pet owners were increasingly seeking advanced and specialized treatments, leading to a surge in the adoption of innovative veterinary technologies and medicines. Also, there is a growing emphasis on preventive care, wellness products, and nutritional supplements for pets. The integration of telemedicine and digital health solutions in veterinary practices also showed promise. Overall, the Australia veterinary healthcare market displayed a positive outlook with a focus on improved pet health and well-being.

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.

Growth Drivers

Rising Pet Adoption Rates

In recent years, Australia has witnessed a significant surge in pet adoption rates, which has become a key growth driver for the veterinary healthcare market. The increasing number of pet owners seeking comprehensive healthcare services for their furry companions has resulted in a growing demand for veterinary clinics, medicines, and diagnostic tools. This trend is further supported by the growing awareness among pet owners about the importance of regular check-ups and preventive care for their pets' well-being. As the love for pets continues to grow, the veterinary healthcare market in Australia is poised to expand, offering ample opportunities for industry players.

Restraints

Limited Access to Specialized Care in Rural Areas

In Australia, the veterinary healthcare market is experiencing impressive growth due to an increasing pet population, rising awareness about animal health, and advancements in veterinary treatments. However, this flourishing sector faces some potential constraints. Limited access to specialized care in remote areas, shortages of skilled veterinarians, and high costs of advanced treatments pose challenges. Also, stringent regulatory requirements and compliance standards add complexities for market players. To sustain growth and address these constraints, collaborative efforts between stakeholders, investments in telemedicine and training programs, as well as streamlined regulatory processes are essential for ensuring the continued success of the Australian veterinary healthcare market.

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

Segmental Coverage

Australia Veterinary Healthcare Market – By Product

Based on product, Australia veterinary healthcare market is bifurcated into Therapeutics and Diagnostics segments. The therapeutics segment is further classified into Vaccines, Parasiticides, Anti-infectives, and Medical Feed Additives. Also, the diagnostics segment is further subdivided into Immunodiagnostic Tests, Molecular Diagnostics, Diagnostic Imaging, and Clinical Chemistry. The largest segment in the Australian veterinary healthcare market is the Therapeutics segment, which is divided into Vaccines, Parasiticides, Anti-infectives, and Medical Feed Additives. These products aim to prevent and treat various animal health conditions. The Diagnostics segment is the second major division, comprising Immunodiagnostic Tests, Molecular Diagnostics, Diagnostic Imaging, and Clinical Chemistry. The focus on therapeutics highlights the significant demand for medical interventions to maintain animal health and prevent diseases. This indicates the prominent role of therapeutic solutions in addressing the needs of the Australian veterinary healthcare industry.

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 bifurcated into Horses, Ruminants, Swine, and Poultry segments, it is the Dogs & Cats category that stands out due to the high number of pet owners 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

Major players in the Australia veterinary healthcare 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. To grow their market share, these companies are also focusing on investing in innovations, collaborations, and expansions.

Scope of the Report

By Product

• Therapeutics

1. Vaccines

2. Parasiticides

3. Anti-infectives

4. Medical Feed Additives

5. Other Therapeutics

• Diagnostics

1. Immunodiagnostic Tests

2. Molecular Diagnostics

3. Diagnostic Imaging

4. Clinical Chemistry

5. Other Diagnostics

By Animal Type

• Dogs & Cats

• Horses

• Ruminants

• Swine

• Poultry

• Other Animal Types

1. Research Framework
   1. Research Objective
   2. Product Overview
   3. Market Segmentation
2. Executive Summary
3. Australia Veterinary Healthcare Market Insights
   1. Industry Value Chain Analysis
   2. DROC Analysis
      1. Growth Drivers
         1. Increase in Animal Adoption Coupled with Increasing Awareness about Animal Healthcare
         2. Advanced Technology in Animal Healthcare
      2. Restraints
         1. Use of Counterfeit Medicines
         2. Increasing Costs of Animal Testing and Veterinary Care
      3. Opportunities
         1. Increasing Pet Spending
         2. Growing demand for specialized veterinary services
      4. Challenges
         1. Changing Consumer Expectations
   3. Technological Advancements/Recent Developments
   4. Regulatory Framework
   5. Porter’s Five Forces Analysis
      1. Bargaining Power of Suppliers
      2. Bargaining Power of Buyers
      3. Threat of New Entrants
      4. Threat of Substitutes
      5. Intensity of Rivalry
4. Australia Veterinary Healthcare Market Overview
   1. Market Size & Forecast (TAM) by Value, 2019–2029
      1. By Value (USD Million)
   2. Market Share & Forecast
      1. By Product
         1. Therapeutics
            1. Vaccines
            2. Parasiticides
            3. Anti-infectives
            4. Medical Feed Additives
            5. Other Therapeutics
         2. Diagnostics
            1. Immunodiagnostic Tests
            2. Molecular Diagnostics
            3. Diagnostic Imaging
            4. Clinical Chemistry
            5. Other Diagnostics
      2. By Animal Type
         1. Dogs and Cats
         2. Horses
         3. Ruminants
         4. Swine
         5. Poultry
         6. Other Animal Types
5. Competitive Landscape
   1. List of Key Players and Their Offerings
   2. Australia Veterinary Healthcare Company Market Share Analysis, 2022
   3. Competitive Benchmarking, By Operating Parameters
   4. Key Strategic Development (Mergers, Acquisitions, Partnerships, and others)
6. Impact of Covid-19 on Australia Veterinary Healthcare Market
7. Company Profile (Company Overview, Financial Matrix, Competitive landscape, Key Personnel, Key Competitors, Contact Address, and Strategic Outlook)
   1. Boehringer Ingelheim
   2. Elanco
   3. Merck Co. Inc.
   4. Vetoquinol SA
   5.  Virbac
   6. Zoetis Inc.
   7. Chemvet Australia Pty Ltd
   8. Jurox Pty Ltd
   9. Idexx Laboratories
   10. Abbey Animal Health Pty Ltd
   11. QBiotics Group Limited
   12. Ceva Animal Health Pty Ltd
   13. Luoda Pharma Pty Ltd
   14. Sypharma Pty Ltd
   15. Other Prominent Players
8. Key Strategic Recommendations
9. Research Methodology
   1. Qualitative Research
      1. Primary & Secondary Research
   2. Quantitative Research
   3. Market Breakdown & Data Triangulation
      1. Secondary Research
      2. Primary Research
   4. Breakdown of Primary Research Respondents, By Region
   5. Assumptions & Limitations

*Financial information in case of non-listed companies will be provided as per availability

**The segmentation and the companies are subjected to modifications based on in-depth secondary for the final deliverable

List of Figures

Figure 1   Australia Veterinary Healthcare Market Segmentation

Figure 2   Australia Veterinary Healthcare Market Value Chain Analysis

Figure 3   Company Market Share Analysis, 2022

Figure 4   Australia Veterinary Healthcare Market Size, By Value (USD Million), 2019–2029

Figure 5   Australia Veterinary Healthcare Market Share, By Product, By Value, 2019–2029

Figure 6   Australia Veterinary Healthcare Market Share, By Animal Type, By Value, 2019–2029

List of Tables

Table 1        Australia Veterinary Healthcare Market Size, By Product, By Value, 2019–2029

Table 2        Australia Veterinary Healthcare Market Size, By Animal Type, By Value, 2019–2029

Table 3        Boehringer Ingelheim Company Overview

Table 4        Boehringer Ingelheim Financial Overview

Table 5        Elanco Company Overview

Table 6        Elanco Financial Overview

Table 7        Merck Co. Inc. Company Overview

Table 8        Merck Co. Inc. Financial Overview

Table 9        Vetoquinol SA Company Overview

Table 10      Vetoquinol SA Financial Overview

Table 11      Virbac Company Overview

Table 12      Virbac Financial Overview

Table 13      Zoetis Inc. Company Overview

Table 14      Zoetis Inc. Financial Overview

Table 15      Chemvet Australia Pty Ltd Company Overview

Table 16      Chemvet Australia Pty Ltd Financial Overview

Table 17      Jurox Pty Ltd Company Overview

Table 18      Jurox Pty Ltd Financial Overview

Table 19      Idexx Laboratories Company Overview

Table 20      Idexx Laboratories Financial Overview

Table 21      Abbey Animal Health Pty Ltd Company Overview

Table 22      Abbey Animal Health Pty Ltd Financial Overview

Table 23      QBiotics Group Limited Company Overview

Table 24      QBiotics Group Limited Financial Overview

Table 25      Ceva Animal Health Pty Ltd Company Overview

Table 26      Ceva Animal Health Pty Ltd Financial Overview

Table 27      Luoda Pharma Pty Ltd Company Overview

Table 28      Luoda Pharma Pty Ltd Financial Overview

Table 28      Sypharma Pty Ltd Company Overview

Table 29      Sypharma Pty Ltd Financial Overview