#Pet Insurance Market Size and Growth

[aarunresearcher]

United States pet insurance market size is projected to exhibit a growth rate (CAGR) of 10.80% during ​2024-2032​. 

[marketdevelopment]

Global Pet Insurance Market size was reasonably estimated to be approximately USD 8380.29 Million in 2023 and is poised to generate revenue over USD 18785.29 Million by the end of 2030, projecting a CAGR of around 17.52% from 2023 to 2030.

Pet Insurance Market Research Report 2023

[market-insider]

Germany Pet Insurance Market Growth Attributable To Increasing Prevalence Of Acute And Chronic Pet Health Diseases

The Germany pet insurance market size is anticipated to reach USD 2.65 billion by 2030, according to a new report by Grand View Research, Inc. The regional market is expected to expand at a CAGR of 14.6% from 2022 to 2030. The market growth is attributable to the increasing prevalence of acute and chronic pet health diseases, the rising humanization of pets, and supportive government regulations. For example, liability insurance is compulsory for certain dangerous dog breeds in the states of Saarland, Bremen, Hessen, Nordrhein-Westfalen, and Baden-Wurttemberg.

The COVID-19 outbreak catalyzed the market with a surge in pet adoption and pet health concerns. Wertgarantie Group, the parent company of Agila, reported an exponential rise in the purchase of dogs and cats in Germany in 2020, amid the pandemic. This positively affected the company’s pet health insurance business with about 340,000 new contracts. However, this number contrasted the 475,000 veterinary bills processed during the period for the benefit of customers.

Gain deeper insights on the market and receive your free copy with TOC now @: Germany Pet Insurance Market Report

As pet owners are becoming increasingly concerned about their pet’s health and wellbeing, the demand for pet insurance is expected to increase over time, due to high costs of treatment and surgery, awareness about pet health & diseases, and pet humanization. In addition, changing customer requirements, digitalization in the banking & insurance sectors, and the adoption of veterinary telehealth is estimated to fuel the market growth.

Intuitive pet insurance plans, quick checkouts, and offering online management of pet plans are some of the common features offered by fully digital insurance companies or Insurtech companies in the country. These trends are expected to continue during the forecast period. As per a 2018 survey by YouGov, the majority of Germans (around 52%) indicated a preference for managing their insurance contracts via online banking. The COVID-19 pandemic has further increased this preference.

Market players are involved in providing affordable and tailored insurance products to suit the needs and budgets of pet parents. These include monthly or annual plans, plans based on coverage type, and sold through various sales channels. Barmenia Insurance, for instance, offers horse surgery insurance that provides coverage from colic protection to premium surgery costs.

The company’s dog and cat health insurance plans come in 4 variants, wherein all plans cover operations, including partial anesthesia or local anesthesia with no annual maximum. Service additions to enhance product value is another unique selling point observed in the German pet insurance market. DFV Deutsche Familienversicherung AG, for example, partnered with FirstVet to offer veterinary telemedicine services to its animal health policyholders, thus expanding its offerings. 

[creativeera]

The Middle East and Africa Animal Healthcare Market is Poised for Exponential Growth driven by Rising Pet Ownership

The Middle East and Africa animal healthcare market comprises products such as vaccines, pharmaceuticals, and feed additives used for disease prevention and treatment in livestock animals. The demand for animal healthcare products is increasing due to rising awareness about zoonotic diseases and quality animal proteins. Advances in veterinary medicine and growth of the companion animal market have also fueled the demand for veterinary services and healthcare products in the region.

The Global Middle East and Africa Animal Healthcare Market is estimated to be valued at US$ 5478.77 Bn in 2024 and is expected to exhibit a CAGR of 14% over the forecast period 2024 To 2031. Key Takeaways Key players operating in the Middle East and Africa animal healthcare market are Siegfried, Sanofi, Johnson Matthey, Mallinckrodt, Noramco, Unichem Laboratories, Arevipharma GmbH, Resonance-labs, Sun Pharmaceutical Industries Ltd., Rusan Pharma, Micro Orgo Chem, and Faran Shimi Pharmaceutical Co. These companies are actively focusing on product innovations and expansion strategies to consolidate their market presence. The Middle East And Africa Animal Healthcare Market Demand for animal healthcare products is driven by rising pet ownership and growing consumption of animal-derived food products in the region. Various public and private organizations are undertaking initiatives to promote responsible pet ownership and prevent the spread of zoonotic diseases. Major animal healthcare companies are augmenting their production capacities and distribution networks across Middle Eastern and African countries. Strategic partnerships with local players help global companies to strengthen their supply chain and improve access to remote and rural areas. Collaboration with veterinary bodies and livestock industry associations also help gain consumer trust and market penetration. Market Key Trends The Middle East And Africa Animal Healthcare Market Size and Trends of pet humanization is contributing to the growth of the companion animal healthcare market in the region.Pet owners are increasingly spending more on nutritious pet food, grooming products, accessories, insurance, and advanced medical care. Growing pet obesity and lifestyle diseases have also increased the demand for therapeutic diet food and nutraceuticals for companion animals. E-commerce platforms are further facilitating the accessibility of diverse pet care products in the region.

Porter’s Analysis Threat of new entrants: High capital requirements and ongoing R&D investments of new drugs pose substantial barriers to entry. Bargaining power of buyers: Buyers have moderate bargaining power as there are many established brands to choose from. Bargaining power of suppliers: Suppliers of raw materials and components have moderate bargaining power due to differentiated inputs required. Threat of new substitutes: Threat of new substitutes is moderate as alternative treatment options are available in case of non-performance or high prices. Competitive rivalry: Intense competition exists among existing players to gain market share through product differentiation, marketing activities and competitive pricing. Geographical Regions The Middle East and Africa animal healthcare market in terms of value is currently concentrated in countries like Saudi Arabia, South Africa, and Egypt. Rapid urbanization and rising pet ownership are driving the demand for animal healthcare products in these countries. South Africa accounts for over 25% of the total market value in the region currently due to strong beef and dairy industries. The fastest growing geographical region for the Middle East and Africa animal healthcare market is expected to be West Africa over the forecast period 2024 to 2031. Countries like Nigeria, Ghana, and Ivory Coast are projected to witness double-digit growth rates during this period led by rising livestock production, increasing awareness about animal diseases, and growing veterinary healthcare infrastructure in the region. Economic development and changing diets are supporting the expansion of the livestock sector which is supporting the animal healthcare market growth.

Get more insights on Middle East And Africa Animal Healthcare Market

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[tamanna31]

Veterinary Orthopedic Medicines Market Poised for Steady Growth in the Future

Veterinary Orthopedic Medicines Industry Overview

The global veterinary orthopedic medicines market size was estimated at USD 1.62 billion in 2023 and is expected to grow at a CAGR of 8.6% from 2024 to 2030.

The growth can be attributed to rising prevalence of orthopedic disorders in animals, the growing uptake of pet insurance, an increase in the aging animal population, and advancements in veterinary orthopedic medicines. Orthopedic issues can negatively impact an animal's quality of life by affecting the bones, muscles, and joints. Canine dysplasia of the elbow & hips and arthritis are among common conditions. Several factors contribute to orthopedic problems in animals, including aging, poor diet, and obesity. Recent studies have shown a rise in obesity among animals such as dogs and horses. For instance, an NCBI study in 2023 on horses revealed a 45% obesity rate.

Gather more insights about the market drivers, restrains and growth of the Veterinary Orthopedic Medicines Market

Stem cell therapy has recently gained popularity and generated significant interest in research & clinical settings. In veterinary medicine, stem cell therapy has been studied as a potential treatment option for various health complications such as dermatological, orthopedic, dental, etc. The use of stem cells in these diseases is still in its infancy, but the potential for stem cell therapy in veterinary medicine is extensive. For instance, StemcellX, a UK-based company, currently has two stem-cell products in the pipeline for application in dogs and horses. The veterinary orthopedic medicines market is growing due to increase in prevalence of Osteoarthritis (OA) and other Degenerative Joint Diseases (DJD) among various animals like dogs, cats, & horses, among others. According to estimates from a 2022 study in Frontiers of Veterinary Sciences, OA is the most common musculoskeletal disorder in dogs, and about 1 in 4 dogs suffer from it. Another research study from the Veterinary Ireland Journal stated that approximately 40% of all cats suffer from OA. Estimates provided by the American Animal Hospital Association (AAHA) reveal that 40% to 92% of cats experience joint pain due to OA or other DJD. Furthermore, the studies suggest possible underdiagnosis of these conditions in these animals. Figures provided by Zoetis indicate that out of the total diagnosed cases of canine OA in the US, only 33% are treated.

Furthermore, University of Illinois data suggests that athletic horses are at a high risk of developing OA that causes lameness. It is estimated that over 50% of horses older than 15 years suffer from OA, and in horses over 30 years of age, this number increases to more than 80% to 90%. OA affects the performance and wellbeing of athletic horses. For early diagnosis, it is important to understand causal & developmental pathways and prescribe the right treatment. Moreover, several pet owners are opting for pet insurance to manage the health expenses of their pets. According to a February 2024 article in USA Today, 26% of surveyed Americans stated they spend between USD 51 & USD 100 a month on their dogs. The same number of people (26%) spend from USD 101 to USD 250 monthly on dog care. Ownership of a dog can cost up to USD 5,000 in some cases. About 66% of the respondents said they had to cut down on their personal expenses to meet the rising costs of owning a pet. Others have taken out loans or asked for financial assistance to pay for the care of animals.

Browse through Grand View Research's Animal Health Industry Research Reports.

The global livestock monitoring market size was estimated at USD 4.01 billion in 2023 and is anticipated to grow at a CAGR of 11.56% from 2024 to 2030. 

The North America and Europe exotic companion animal market size was estimated at USD 1.30 billion in 2023 and is projected to grow at a CAGR of 7.9% from 2024 to 2030.

Key Veterinary Orthopedic Medicines Company Insights

Some of the key players operating in the market are Zoetis Inc; Boehringer Ingelheim; Elanco Animal Health, Inc.; and Merck Animal Health (Merck & Co. Inc). Industry leaders like Zoetis, Inc.; Boehringer Ingelheim; Elanco Animal Health; American Regent, Inc.; Merck Animal Health (Merck & Co. Inc); and Vetoquinol S.A. are investing significantly in the R&D of novel medicines for musculoskeletal complications prevalent in various animals. Companies like Ardent Animal Health, LLC; VetStem, Inc.; and MEDREGO LLC are focusing on developing specialized biologics like stem cells, PRP, and other biologics to effectively combat orthopedic conditions in animals.

Zoetis is one of the leading veterinary product companies in the world. It discovers, develops, manufactures, and commercializes vaccines, medicines, diagnostics, & other technologies for the treatment of various diseases in companion animals, as well as livestock animals. It has a widespread network in over 45 countries.

Elanco Animal Health has operated in the veterinary industry for over 65 years. It is a subsidiary of the pharmaceutical products giant Elli Lilly & Company. The company is among the top four global veterinary product manufacturers, with over 200 brands and a presence in over 90 countries.

Hyalogic, Bioiberica S.A.U, and Contipro A.S. are some of the emerging market participants in the veterinary orthopedic medicines market.

Hyalogic is a company that specializes in and focuses on manufacturing products made from high-molecular-weight hyaluronic acid, which has hydrating and lubricating properties. Its product portfolio includes skin care, personal care, joint care, etc., for humans and specialized joint care products for animals.

Key Veterinary Orthopedic Medicines Companies:

The following are the leading companies in the veterinary orthopedic medicines market. These companies collectively hold the largest market share and dictate industry trends.

Zoetis Inc.

Boehringer Ingelheim

Elanco Animal Health

American Regent, Inc.

Merck Animal Health (Merck & Co. Inc)

Vetoquinol S.A.

Ceva Sante Animale

Virbac

Biogenesis Bago

Ardent Animal Health, LLC

Bioiberica S.A.U

PetVivo Holdings, Inc. (Spryng)

Contipro A.S.

VetStem, Inc.

Enso Discoveries

Contura Vet US

T-Cyte Therepeutics

MEDREGO LLC

Bimeda U.S.

Hyalogic

Hester Biosciences .

Order a free sample PDF of the Veterinary Orthopedic Medicines Market Study, published by Grand View Research.

[healthcaremarketanalysis]

The global veterinary equipment market in terms of revenue was estimated to be worth $2.2 billion in 2023 and is poised to reach $3.2 billion by 2028, growing at a CAGR of 7.1% from 2023 to 2028. The new research study consists of an industry trend analysis of the market. The new research study consists of industry trends, pricing analysis, patent analysis, conference and webinar materials, key stakeholders, and buying behaviour in the market. The primary factors driving growth for the veterinary equipment supplies market during the projected period are advancements in veterinary technology, an increase in the population of pets and their owners, increasing demand for livestock veterinary products, rise in the need for pet insurance, an increase in the expense of animal health care, and an increase in the prevalence of diseases in animals.

[poonamcmi]

Neurodiagnostics Market Estimated to Witness High Growth Owing to Growing Geriatric Population

​The neurodiagnostics market plays a crucial role in neurological disease diagnosis and treatment monitoring. Neurological disorders such as epilepsy, Alzheimer's disease, Multiple Sclerosis, Parkinson's disease, and other neurological conditions are becoming increasingly prevalent. Neurodiagnostics help detect neurological abnormalities through neurological imaging such as MRI, EEG, and diagnostic tests. The growing geriatric population is more susceptible to neurodegenerative diseases, driving the need for neurodiagnostics.

The Global Neurodiagnostics Market is estimated to be valued at US$ 8.66 Bn in 2024 and is expected to exhibit a CAGR of 8.1% over the forecast period 2024 To 2031.

Key Takeaways Key players operating in the neurodiagnostics are Koninklijke Philips N.V, Siemens Healthcare GmbH, F. Hoffmann-La Roche Ltd, FUJIFILM Holdings Corporation, Bio-Rad Laboratories Inc., Advanced Brain Monitoring, Inc., Nihon Kohden Corporation, Mitsar Co. LTD., EMS Biomedical, Mennen Medical, Natus Medical Incorporated, Medicaid Systems, Fujirebio, FONAR Corp, ANT Neuro, NEUROLITE AG, and Atlantic Health System.

The Neurodiagnostics Market Trends  include increasing investments in R&D for biomarker-based disease diagnosis and neuroimaging. The global expansion of key players through mergers and acquisitions will further aid market growth.

The growing geriatric population is more susceptible to neurodegenerative diseases, driving the need for neurodiagnostics. Furthermore, increasing investments in R&D by key players for developing advanced diagnostic systems will boost the neurodiagnostics market over the forecast period.

Market drivers The growing geriatric population is the major driver propelling the Neurodiagnostics Market Size And Trends As per the United Nations, people aged over 60 years are projected to outnumber children under 10 years by 2050. Elderly people are more vulnerable to neurological disorders like Alzheimer's and Parkinson's disease. This will augment the demand for neurodiagnostics for early disease diagnosis and treatment monitoring. Increasing awareness about brain health and availability of reimbursement policies for neurodiagnostic tests will also boost market revenues significantly over the forecast period.

PEST Analysis Political: Regulations related to medical devices and neurological disorder treatments have an impact. Reimbursement policies by governments and insurance agencies also affect market growth. Economic: The growing insurance coverage levels and disposable incomes have boosted healthcare spending including on neurodiagnostics. Higher investments in clinical trials and R&D remain crucial. Social: Rising prevalence of neurological disorders like Alzheimers, Parkinsons, epilepsy, and stroke is a key driver. Growing awareness encourages early diagnosis through imaging techniques. Technological: Advancements in imaging modalities like MRI, CT, PET, EEG, and newer technologies like digital EEG and MEG expands diagnosis capabilities. Portable and wearable devices improve accessibility.

Geographical Regions with High Market Concentration North America accounts for the largest share in the neurodiagnostics market in terms of value, owing to the presence of major players, high healthcare expenditure, and rising neurological disorders. The United States holds a significant share in the regional market.

Fastest Growing Regional Market The Asia Pacific region is expected to witness the highest growth in the neurodiagnostics market during the forecast period. This is attributed to factors such as growing healthcare expenditure, increasing healthcare infrastructure development, and rising geriatric population in the region suffering from neurological conditions. Rapidly developing countries like China and India with huge patient pools offer high growth potential. Get More Insights On, Neurodiagnostics Market About Author: Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemical and materials, defense and aerospace, consumer goods, etc. (https://www.linkedin.com/in/money-singh-590844163)

[themarketupdate]

Global Metal Casing Market Will Hit Big Revenues In Future | Biggest Opportunity Of 2024

Latest added Global Metal Casing Market research study by Archive Market Research offers detailed outlook and elaborates market review till 2030. The market Study is segmented by key regions that are accelerating the marketization. At present, the market players are strategizing and overcoming challenges of current scenario; some of the key players in the study are Amazon Web Services, Inc. (Washington, United States),Google LLC (California, United States),IBM Corporation (New York, United States),Microsoft Corporation (Washington, United States),SAP SE (Germany),Yellow Messenger (Karnataka, India),Labiba for Artificial Intelligence LLC (Dubai, United Arab Emirates),Gupshup (Maharashtra, India),SmartBots (Texas, United States),Aivo (Córdoba, Spain),Aifa.AI (Sydney, Australia),Dogtown Media. (California, United States),Peerbits. (Gujarat, India),Master of Code Global. (California, United States),Peltarion (Stockholm, Sweden),Verloop (Karnataka, India),Crisp IM SARL (France),LiveChat, Inc. (Massachusetts, United States),ManyChat, Inc. (San Francisco, United States),Chatfuel (San Francisco, United States),PandoraBots (California, United States),Botscrew (London, UK) etc.  Click for Free Sample Report + All Related Graphs & Charts https://archivemarketresearch.com/report/pet-snacks-and-treats-market-7/sample-report The Global Metal Casing Market size was valued at USD 33.27 billion in 2023 and is projected to reach USD 41.48 billion by 2032, exhibiting a CAGR of 3.2 % during the forecasts period. The latest edition of this report you will be entitled to receive additional chapter / commentary on latest scenario, economic slowdown and COVID-19 impact on overall industry. Further it will also provide qualitative information about when industry could come back on track and what possible measures industry players are taking to deal with current situation. Each of the segment analysis table for forecast period also high % impact on growth. The Global Global Metal Casing segments and Market Data Break Down are illuminated below: {"Component: Platform/Software Development Kit and Services","Deployment: Cloud and On-premises","Application: Website, Contact Centers, Social Media and Mobile Application","Industry: Banking, Financial Services and Insurance (BFSI"}

Have Any Questions Regarding Global Global Metal Casing Market Report, Ask Our Experts@ https://archivemarketresearch.com/report/pet-snacks-and-treats-market-7/enquiry-before-buy This report will give you an unmistakable perspective on every single reality of the market without a need to allude to some other research report or an information source. Our report will give all of you the realities about the past, present, and eventual fate of the concerned Market. Thanks for reading this article, we can also provide customized report as per company’s specific needs. You can also get separate chapter wise or region wise report versions including North America, Europe or Asia.

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 https://archivemarketresearch.com/reports/global-metal-casing-market-1957  https://archivemarketresearch.com/reports/anatomic-pathology-market-3060 Contact US : Craig Francis (PR & Marketing Manager) Archive Market Research Unit No. 429, Parsonage Road Edison, NJ New Jersey USA – 08837 Phone: +1 201 565 3262, +44 161 818 8166 sales@advancemarketanalytics.com

[b2bbusiness]

Navigating the UK Personal Lines Insurance Market: Trends, Players, and What Lies Ahead

The United Kingdom boasts a robust personal lines insurance market, safeguarding individuals and their possessions. This dynamic sector caters to a variety of needs, from protecting your car and home to insuring your prized gadgets and beloved pets. Understanding the trends, key players, and future outlook of this market is crucial for both consumers seeking the right coverage and businesses aiming to capitalize on its potential.

Market Landscape: Size and Significance

The UK personal lines insurance market is a heavyweight, valued at a staggering £92.5 billion in 2023 [Insurance Times]. This translates to a significant portion of household expenditure, with Britons placing high importance on securing their personal belongings and well-being. The market is further segmented into core products like motor, home, and travel insurance, each catering to specific needs.

Shaping the Landscape: Key Trends

Several key trends are influencing the UK personal lines insurance market:

Tech-Driven Transformation: InsurTech startups are disrupting the industry with innovative solutions. Expect to see greater use of telematics (usage-based car insurance) and artificial intelligence (AI) for faster claims processing and personalized risk assessments.

Price Sensitivity and Comparison Platforms: Rising inflation is putting pressure on household budgets, leading consumers to be more price-sensitive. This trend is fueling the growth of comparison websites, allowing individuals to easily compare quotes and find the most competitive deals.

Focus on Customer Experience: Customers are demanding a seamless and user-friendly experience. Insurers are prioritizing user-friendly interfaces, UK Personal Lines Insurance Market mobile apps, and streamlined claims processes to enhance customer satisfaction.

Sustainability Considerations: The growing emphasis on environmental responsibility is extending to the insurance sector. Some insurers are offering discounts for eco-friendly cars and homes with sustainable features.

Heavyweights of the Market: Leading Players

The UK personal lines insurance market is a competitive landscape, with a mix of established players and innovative challengers. Here are some key names to know:

Traditional Powerhouses: Aviva, Admiral, and Direct Line remain dominant forces, offering a comprehensive range of personal lines insurance products.

Challenger Brands: InsurTech startups like LV= Gita and Cuvva are making waves with their tech-driven approach and focus on specific niches like pet insurance.

Retailer Partnerships: Many high-street retailers and supermarkets have partnered with established insurers to offer co-branded insurance products, expanding reach and convenience for consumers.

Looking Ahead: The Future of UK Personal Lines Insurance

The future of the UK personal lines insurance market is brimming with possibilities:

Hyper-Personalization: Expect insurers to leverage data and analytics to offer hyper-personalized policies catering to individual risk profiles and driving habits.

Usage-Based Models: Pay-as-you-go and usage-based insurance models will gain traction, catering to consumers who value flexible coverage options.

Cybersecurity Concerns: As dependence on technology grows, cyber insurance will become increasingly important, protecting individuals from online threats and data breaches.

Regulatory Landscape: Regulatory changes aimed at fair pricing and transparency will continue to shape the market, ensuring a level playing field for consumers.

Buy the Full Report for More Driver Insights into the UK Personal Lines Insurance Market

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[petnews2day]

Pet Insurance Market to See Booming Growth 2024-2031 with Key

New Post has been published on https://petn.ws/3OA0v

Pet Insurance Market to See Booming Growth 2024-2031 with Key

Pet Insurance Market A new report titled “Pet Insurance Market” Trends, Share, Size, Growth, Opportunity and Forecast 2024-2031, by Coherent Market Insights offers a comprehensive analysis of the industry, which comprises insights on the market analysis. The report also includes competitor and regional analysis, and contemporary advancements in the market. global pet insurance market was […]

See full article at https://petn.ws/3OA0v #PetInsuranceNews

[deshpandeisha]

The Growing Field of Animal Ultrasound: A Game Changer in Veterinary Medicine

The global animal ultrasound market size reached USD 286.2 Million in 2020 and is expected to register a revenue CAGR of 8.2% during the forecast period, according to latest analysis by Emergen Research. Increasing number of companion animals and rising demand for pet insurance are some key factors projected to support market revenue growth between 2021 and 2028.

In addition, increasing number of veterinary doctors in developed and developing countries is expected to boost revenue growth of the market going ahead.Increasing number of veterinarians has also resultedin increasingnumberof new treatment facilities, which is expected to boost demand for various treatmentequipment for animals, including animal ultrasound devices.In addition, veterinarians' incomes in developed countries have significantly risen in recent years, and this is strengthening their purchasing power, which is expected to boostadoption of animalultrasound devices in private clinics.

Request a Sample Report with Table of Contents and Figures to click Here: https://www.emergenresearch.com/request-sample/866

Competitive Terrain:

The section on the competitive landscape offers valuable and actionable insights related to the business sphere of the Animal Ultrasound market, covering extensive profiling of the key market players. The report offers information about market share, product portfolio, pricing analysis, and strategic alliances such as mergers and acquisitions, joint ventures, collaborations, partnerships, product launches and brand promotions, among others. The report also discusses the initiatives taken by the key companies to combat the impact of the COVID-19 pandemic.

The leading market contenders listed in the report are:

IDEXX Laboratories, Inc., Carestream Health, Inc., Fujifilm Holdings Corporation, Esaote SpA, GE Healthcare, Heska Corporation, Diagnostic Imaging Systems, Inc., Clarius Mobile Health Corp., DRAMIÑSKI S.A., and Hallmarq Veterinary Imaging Limited

Click to access the Report Study, Read key highlights of the Report and Look at Projected Trends: https://www.emergenresearch.com/industry-report/animal-ultrasound-market

Emergen Research has segmented the global Animal Ultrasound market on the basis of type, application, end-use, and region:

Segments Covered in this report are:

Animal Type Outlook (Revenue, USD Million; 2018–2028)

Large Animals

Small Companion Animals

Imaging Type Outlook (Revenue, USD Million; 2018–2028)

Doppler Imaging

2D Ultrasound Imaging

3D & 4D Ultrasound Imaging

Scanner Type Outlook (Revenue, USD Million; 2018–2028)

Handheld Ultrasound Scanners

Cart-based Ultrasound Scanners

The various regions analyzed in the report include:

North America (U.S., Canada)

Europe (U.K., Italy, Germany, France, Rest of EU)

Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)

Latin America (Chile, Brazil, Argentina, Rest of Latin America)

Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)

Key Objectives of the Report:

Analysis and estimation of the Animal Ultrasound Market size and share for the projected period of 2022-2030

Extensive analysis of the key players of the market by SWOT analysis and Porter’s Five Forces analysis to impart a clear understanding of the competitive landscape

Study of current and emerging trends, restraints, drivers, opportunities, challenges, growth prospects, and risks of the global Animal Ultrasound Market

Analysis of the growth prospects for the stakeholders and investors through the study of the promising segments

Strategic recommendations to the established players and new entrants to capitalize on the emerging growth opportunities

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[twbcx]

Trends & influences of the Indian Pet Market – by Rakesh Shukla,  VOSD™ Corporation

Overview

The Indian pet market has experienced significant growth over the past five years, driven by increasing pet ownership, urbanization, rising disposable incomes, and changing social attitudes towards pets. This report provides a comprehensive analysis of the companion animal market in India, with particular focus on dogs, detailing the primary segments, market size, trends, key drivers, and influencing phenomena.

Market Segments

The Indian pet market can be divided into several primary segments:

Pet Food

Veterinary Care

Grooming and Accessories

Pet Pharmaceuticals

Pet Services

Pet Food

The pet food segment is the largest in the Indian pet market. According to the “Euromonitor International Report,” the pet food market in India was valued at approximately INR 2,500 crore in 2020, with an annual growth rate of around 13%. The segment includes dry food, wet food, and treats, with premium and specialized diets becoming increasingly popular.

Veterinary Care

The veterinary care segment includes routine check-ups, vaccinations, surgeries, and preventive care. The “IMARC Group Report” estimates this segment to be valued at INR 1,000 crore in 2021, with a growth rate of 10% per annum. The rise of pet insurance and digital veterinary services has also contributed to this growth.

Grooming and Accessories

This segment covers grooming products, toys, clothing, and accessories. It was valued at INR 800 crore in 2021, growing at an 11% annual rate according to the “TechSci Research Report”. Increased humanization of pets has driven demand for premium grooming products and accessories.

Pet Pharmaceuticals

Pet pharmaceuticals include medicines, supplements, and vaccines. The “Mordor Intelligence Report” indicates this market segment was valued at INR 700 crore in 2020 and is growing at a rate of 9% annually. Increasing awareness about pet health and wellness has spurred growth in this segment.

Pet Services

This segment includes boarding, training, pet sitting, and pet transportation. According to “Research and Markets,” the pet services market was valued at INR 500 crore in 2021, growing at a 12% annual rate. The increasing number of dual-income households has fueled demand for these services.

Market Size and Trends

The overall companion animal market in India, focusing on dogs, has shown robust growth. The total market size in 2021 was estimated to be INR 5,500 crore, with a compound annual growth rate (CAGR) of around 12% over the past five years.

Rising Premiumization: There is a noticeable trend towards premium products, especially in pet food and grooming segments. Owners are willing to spend more on high-quality, nutritious food and premium grooming products.

Increasing Pet Adoption: Adoption rates have surged, driven by greater awareness and changing societal norms. This has led to increased demand for veterinary services and pet pharmaceuticals.

Growth of E-commerce: Online platforms like Amazon, Flipkart, and specialized pet stores like Heads Up For Tails have seen significant growth, offering convenience and a wide range of products.

Digital Veterinary Services: Telehealth services for pets have become popular, especially during the COVID-19 pandemic, allowing for remote consultations and care.

Humanization of Pets: Pets are increasingly seen as family members, driving demand for higher quality food, better healthcare, and luxury accessories.

Key Drivers

Several key drivers have influenced the growth of the Indian pet market:

Rising Disposable Income: Higher disposable incomes have enabled more households to afford pets and spend on premium products and services.

Urbanization: Urban living conditions and smaller family units have contributed to increased pet adoption.

Awareness and Education: Greater awareness about pet health, nutrition, and wellness has led to higher spending on veterinary care and pharmaceuticals.

Social Media Influence: Pet owners are increasingly influenced by social media, leading to trends in pet fashion, grooming, and unique pet services.

COVID-19 Impact: The pandemic saw a rise in pet adoption as people sought companionship during lockdowns. It also accelerated the adoption of digital services and e-commerce for pet products.

Influencing Phenomena

Several phenomena have influenced the Indian pet market:

Regulatory Changes: Policies regarding pet importation, breeding standards, and veterinary practices have shaped the market dynamics.

Technological Advancements: Innovations in pet care products, telehealth, and e-commerce platforms have transformed how pet services are delivered and consumed.

Environmental Concerns: There is a growing trend towards sustainable and eco-friendly pet products as consumers become more environmentally conscious.

Cultural Shifts: Changing cultural attitudes towards pets as part of the family unit have driven market growth across all segments.

Conclusion

The Indian pet market, particularly for dogs, is poised for continued growth, driven by rising incomes, urbanization, and the increasing humanization of pets. With robust growth across all segments, from pet food to veterinary care and services, the market offers substantial opportunities for businesses and investors. The impact of digital transformation and changing consumer behavior will further shape the future of this dynamic market.

About the Author: Rakesh Shukla, a BTech & MBA, has spent 30 years creating many multimillion-dollar world-class software products & businesses. Rakesh manages a portfolio of successful startups –  in IT, PetTech, and RetailTech including VOSD™ Vet & Pet Corporation, TWBcx™, The Better Company™ & inStore™ Retail. VOSD™ Corporation includes Vet2Trade™, VOSD AI™, VOSD Advance Vet Care™, and VOSD-on-Wheels™ which together fund VOSD Foundation™ — the world’s largest dog rescue.

[market-insider]

Veterinary Hospitals Market Dynamics: Evaluating Market Size, Share, and Growth Forecast

The global veterinary hospitals market size is expected to reach USD 123.8 billion by 2030, expanding at a CAGR of 5.80% from 2023 to 2030, according to a new report by Grand View Research, Inc. The growing pet population is boosting the demand for veterinary clinics and hospitals around the world. Additionally, the COVID-19 pandemic lockdown restrictions led to a rise in the demand for companion animals. For instance, the number of pets in the UK has significantly increased. According to a recent survey conducted by the Pet Food Manufacturers Association, there are currently over 24 million cats and dogs living in the United Kingdom. The market is being driven by the increase in pet ownership, not just in the short term when kittens and puppies need shots, initial checkups, or neutering, but also considerably in the long term as they age into animals needing more veterinarian treatment and care.

Veterinary Hospitals Market Report Highlights

By animal type, the companion animal segment accounted for the largest revenue share in 2022. This is owing to the relatively stable ownership rate of dogs & cats in developed countries like the U.S. and increased expenditure on veterinary care

Based on type, the medicine segment dominated the market in 2022, owing to its significant distribution in veterinary pharmacies

Based on the sector, the private segment dominated the market in 2022. These hospitals offer well-maintained and advanced services at a relatively low price than private hospitals

North America accounted for a 43.4% share of the market in 2022 and is expected to grow over the forecast period. This growth is majorly due to high companion animal ownership rates, favorable government regulations, and increasing adoption of pet insurance for veterinary care

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The rapidly aging pet population and the availability of advanced pet care options are among the key factors likely to drive expenditure on pets by owners, which is the primary source of revenue growth for veterinary hospitals. Establishment requirements for veterinary hospitals are expected to improve mainly due to the high demand for animal care services for pets & animals food. With the increasing number of pets and pet owners, the focus on animal safety has grown in recent years. Rising concerns and increasing awareness about chronic diseases in companion animals have resulted in high expenditure on pet health. Large spending on animal care is expected to further boost veterinary visits and medication sales in hospitals. Owners are concerned about their pets and consult veterinarians for treatment of several health issues at an early stage. This is further boosting the demand for efficient treatment options, driving the market.