Australia Veterinary Healthcare Market Insights Forecasts to 2033

• The Australia Veterinary Healthcare Market Size was valued at USD 94.00 Million in 2023.
• The Market is Growing at a CAGR of 8.23% from 2023 to 2033
• The Australia Veterinary Healthcare Market Size is Expected to Reach USD 207.26 Million by 2033

The Australia Veterinary Healthcare Market is Anticipated to Reach USD 207.26 Million by 2033, growing at a CAGR of 8.23% from 2023 to 2033.

Market Overview

The branch of medicine which primarily focuses on the management, diagnosis, treatment, and prevention of illness, injury, and disorders in animals is known as veterinary healthcare. Veterinary professionals such as veterinarians and veterinary technicians, greatly aid in promoting animal health, disease prevention, and the human-animal bond. The services offered by them are vaccinations, surgeries, dental care, and dietary advice. Moreover, veterinary care monitors zoonotic diseases, which benefits public health. Even though animal companionship grows, veterinary care is still crucial in maintaining the health and well-being of the animals and the people taking care of them. An increase in the number of pets or companion animals, an increase in pet rates, developments in veterinary medicine, increased awareness of animal health, and increased spending by pet owners on medical services and goods are some of the factors due to which the Australian veterinary healthcare market expands. For instance, Australia's National Action Plan for Production Animal Health launched, an ambitious national plan called Animal Plan 2022–2027 that aims to improve animal health procedures and put Australia's livestock sectors in a position to satisfy new demands and trends in a cutthroat market. It will indirectly support the communities that depend on and support the animal industries.

Report Coverage

This research report categorizes the market for the Australia veterinary healthcare market based on various segments and regions forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the Australia veterinary healthcare market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the Australia veterinary healthcare market.

Driving Factors

The primary factors which help to drive the Australia veterinary healthcare market are the rising incidence of zoonotic and foodborne illness, the growing trend of pet adoption in the country, the increasing consumption of meat and milk in the region, and the veterinary healthcare market’s exponential growth. An increase in demand for animal pharmaceuticals that boost animals, immune systems, increased pet adoption, and increased awareness of the importance of maintaining animal health are some of the reasons that have increased the spending on animals over the past few decades. All of these factors have anticipated the increased sales of animal healthcare products such as medications, animal feed, and vaccines will increase significantly.

Restraining Factors

The growing regulatory restrictions on the use of antibiotics, the lack of awareness in emerging regions, the lack of qualified veterinarians, the high expense of cutting-edge treatments, and limited access to specialized care in rural areas, and the rising cost of animal testing are the factors that hamper the Australia veterinary healthcare market.

Market Segmentation

The Australia veterinary healthcare market share is classified into product and animal type.

• The therapeutics segment is expected to hold the largest market share through the forecast period.

The Australia veterinary healthcare market is segmented by product into therapeutics and diagnostics. Among these, the therapeutics segment is expected to hold the largest market share through the forecast period. The therapeutic segment includes vaccines, anti-infectives, parasiticides, and medical feed additives. Various health conditions are treated and prevented by them.

• The dogs & cats segment is expected to dominate the Australia veterinary healthcare market during the forecast period.       

Based on the animal type, the Australia veterinary healthcare market is divided into dogs & cats, horses, ruminants, swine, and poultry. Among these, the dogs & cats segment is expected to dominate the Australia veterinary healthcare market during the forecast period. This is attributed to many people having pets and because pet health and wellness are becoming more and more popular. Australians’ close relationship with their pets is a reflection of popularity.

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the Australia veterinary healthcare market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

List of Key Companies

• 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
• Others

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting And Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Market Segment

This study forecasts revenue at Australia, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the Australia veterinary healthcare market based on the below-mentioned segments:

Australia Veterinary Healthcare Market, By Product

• Therapeutics
• Diagnostics

Australia Veterinary Healthcare Market, By Animal Type

• Dogs & Cats
• Horses
• Ruminants
• Swine
• Poultry