US Veterinary Healthcare Market
During the forecast period 2019-2025, the US Veterinary Healthcare market is anticipated to record a CAGR of around 5%.
Veterinary drugs are related to animal treatment, diagnosis and disease prevention. It includes a range of wild and domestic animal species.
US Veterinary Healthcare Market Risk of Emerging Zoonosis:
The increasing intake of meat, for chicken and pork, increases the exposure of hazardous pathogenic foodstuffs.
The E. Coli and Salmonella infections cause severe illnesses in humans and can sometimes even be deadly during intensive manufacturing.
There is also a danger of fresh influenza virus strains emerging owing to the lengthy distance transport of livestock.
The farms are often located in the same region, with concentration of restricted livestock that could increase the danger of avian influenza being transferred to pigs. Re-assorting the virus can lead to fresh strains and human infections.
Furthermore, these farms improve the danger of virus strains spreading and mixing. Intensive farming methods pose a danger of these bacteria in the food as stressed animals become more infectious.
The threat of zoonotic diseases boosts the veterinary healthcare industry.
Intergovernmental organizations, as well as food production, are reforming their health through monitoring and vaccination, investing in research and development and transferring to veterinary health.
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Additionally, advanced technology that leads to developments in animal health is also accountable for the rise of the US veterinary healthcare market.
Growing Costs of Animal Testing and Veterinary Services:
Advances in veterinary care have come at a high price over the previous few years. For instance, according to the North American Pet Insurance Association, a trade group, only 1-2% of the total United States pet population was insured by the end of 2015.
Very few are therefore insured, and the remaining pet owners have to pay their own pockets. But the US has spent a record USD 15.4 billion of vet facilities in 2015, up from USD 8.6 billion in 2005, as expenses continue to grow.
Costs are growing and numerous illnesses and accidents are diagnosed as MRIs, which were previously unavailable for everyone, except for well financed university hospitals.
The MRI machines are accessible in many clinics, and veterinarians use the trials as normal diagnostic and treating treatments for cancer, epilepsy, damage and so on, but testing costs more than USD 1000 as MRI machines are extremely helpful and essential diagnostic equipment. As a result, increased costs of animal testing and veterinary services hamper market growth.
In addition, the absence of facilities, financing and use of counterfeit medicinal products restrict veterinary market development.
Vaccines is projected to lead the Market:
The US veterinary health market segment Vaccines should register a healthy CAGR over the expected forecast period, due to the presence of good health infrastructure in the country, and positive R&D trends are also evolving.
US Veterinary Healthcare Key Developments in the Market:
A modified-live vaccine, efficient in reducing the respiratory and reproductive porcine syndrome PRRS of respiratory type in piglets two weeks or older New Respiratory PRRS Vaccine
US Veterinary Healthcare Market Key Players:
- Zoetis animal healthcare
- Merck
- Elanco
- Bayer healthcare
- Ceva Animal Health Inc.
- Virbac
- Boehringer Ingelheim
- Abaxis
- others
Reasons to Purchase this US Veterinary Healthcare Market Report:
Present and future US Veterinary Healthcare Market prospects for the advanced and developing markets Analysis of different market prospects with the assistance of Porter’s five-string assessment the segment expected to dominate the market regions expected to be the strongest in development during the current year.
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