The global veterinary healthcare market is anticipated to grow at a significant CAGR during the forecast period. In recent decades a lot has changed in terms of availability for veterinary healthcare. The introduction of new treatments and technology in veterinary healthcare such as MRIs, laser surgery, ultrasound, echocardiography, and many more is driving the veterinary healthcare market. In modern veterinary medicine, the availability of advanced technologies in diagnostics and surgery has extended the pet’s athlete's life. Hence, the increasing adoption of healthcare for animals will drive the veterinary healthcare market during the forecast period.
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Additionally, the new healing technologies for animals are greatly promoting the veterinary healthcare industry. For instance, laser therapy is a new form of treatment for dogs with hind end pain arthritis muscle spasms or just general mobility issues. The laser penetrates the tissue at different levels and brings blood flow and circulation and supports and stimulates the body's natural healing. Additionally, a device called an SCC Loop is also used to creates a magnetic field that electromagnetic field that resonates with the cell's energy brings blood flows these healing toxin release and provide pain relief without medication.
However, healthcare is expensive for animal care as the equipment used is expensive. Therefore, the high cost associated with the treatment and diagnosis of animal health is anticipated to present a challenge in the growth of the global veterinary healthcare market.
Additionally, the cases of severe illness such as cancer are rising in the animals driving the use of professional advances, and diagnostics such as ultrasound, echocardiography, and MRIs. Hence, this is driving the growth of the veterinary healthcare industry. The prognosis for pets that caught early is often considered treatable with a good outcome; however, the progress is expensive. Therefore, the appropriate utilize advanced technologies by still making them affordable for a pet owner is the biggest challenge in the veterinary healthcare market.
Veterinary Healthcare Market- Segmentation
By Therapeutics
By Animal Type
Veterinary Healthcare Market – Segment by Region
North America
Europe
Asia-Pacific
Rest of the World