Veterinary Healthcare Market and the Common Veterinary Issues

Veterinary Healthcare Market and the Common Veterinary Issues

Pets are now a part of the family, and that means that their coughs, sniffles, and aches now worry the rest of the family. Doctors who understand animals and their needs are more in demand than ever before.Veterinary healthcare is now a growing industry. According to Market Data Forecast, in 2016 the Global Veterinary Market was valued at $27 billion and is projected to be rising at a CAGR (Compound Annual Growth Rate) of 7.94%. By 2021 the value is estimated to reach $39.56 billion.

The veterinary healthcare market is broadly spread out into two streams, both with very different challenges. The first is the pet or ‘animal companion’ market. This not only includes people who adopt animals like dogs, cats, birds, or fish but also include therapy animals or companions to help people with disabilities such as guide dogs.The other market is for farm or livestock animals. Animals on farms are raised for the meat industry, for clothing and textile needs like sheep, and for milk as well. With an ever-increasing population, increasing demand forprotein-rich food and thus livestock animals is expected.

Common Veterinary Issues

Common veterinary healthcare problems in livestock nowadays are Bovine Pasteurellosis Disease, Black Leg, Lumpy Skin Disease Disease(LSD), and Foot and Mouth Disease. These can be disastrous for the economy as well as the animal or herd.Common pet and companion animal healthcare issues that earn an increasing part of the market share worldwide are obesity, heartworm, distemper, and rabies. Both distemper and rabies can be prevented by prompt vaccination and regular updates of vaccines but are incurable at the moment.

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The global veterinary market is divided into vaccines, feed additives, and pharmaceuticals broadly.Further,feed additives are distributed into medicinal and nutritional feed additives. Feed additives are a growing industry at the moment, with the agriculture sector realizing that veterinary healthcare products like nutritionalfeed additives can assist relatively cheaply in keeping animals healthier.

Nutritional feed additives are used to improve the quality of the feed provided and to supply essential nutrients like amino acids or vitamins where they are missing. Medicinal feedadditives are used to enhance growth performance or otherwise optimize the health of the animals using hormones, immune-modulators, probiotics, enzymes, and prebiotics.

Trends in Veterinary Healthcare Market

Telemedicine Apps

With smartphones in every hand nowadays, it was inevitable that it would be co-opted for use by vets. Arn Anderson, DVM, of the Cross Timbers Veterinary Hospital in Bowie, Texas recommends theuse of FaceTime and other smartphone apps in order to tackle the challenges of a rural practice.A lot of biotechnology and veterinary healthcare startups are now looking at dedicated apps that can be aimed at the veterinary market, or the livestock market, as it is a booming industry.

Biodevices

Zoetis, the biggest animal healthcare company in the world, is also a leading innovator in the market. Their R&D is introducing automated bio-mechanical solutions to the poultry industry. This includes, they say,inovo vaccination of embryonated eggs even before hatching and identification of embryonated egg status, including live versus non-live and other related needs.

Better Protection For Dogs

Dog vaccines for H3N8 canine influenza virus are generally provided from inactive or dead flu viruses which experts posit provide only temporary protection.  Scientists led by Luis Martinez-Sobrido at the University of Rochester School of Medicine and Dentistry have developed two “live-attenuated” vaccines which should provide better and longer immunity.With dogs and cats being the biggest pet markets worldwide, improved vaccines are a massive market share, particularly when these vaccines can be made a standard part of the package.

Biotechnology is The New Market

While traditionally, veterinary healthcare market has tended to have a larger market in vaccines or pharmaceuticals, the market is trending towards smart technology in the 21st century.Biotechnology is seeing a lot of investments, as well as simple apps. Demand is driving trends in theglobal veterinary healthcare market.

Check out Market Data Forecast’s comprehensive reports with in-depth analysis about the Veterinary Healthcare Market a free research sample can also be availed. Stay tuned for trending news stories about the latest technologies and interesting Healthcare tit-bits.

 
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