U.S. dominates global veterinary services market
A research firm estimates the pet and livestock total at $41 billion in 2017.
The United States is home to the world’s largest pet care veterinary services market, according to a new report from the international firm The Business Research Co.
The report, “Veterinary Services Global Market 2018,” set the U.S. segment at $13.5 billion in 2017. The pet care number was far short of the $27.5 billion U.S. market for livestock veterinary services.
China’s livestock segment, by comparison, was worth $5.5 billion in 2017.
Germany was the only nation in the report where pet care veterinary services surpassed livestock services. The split was 54 percent to 46 percent.
“North America’s dominance in the veterinary services market is largely generated in the USA,” the research firm stated. “As a percentage of GDP, however, both the U.K. and Australia spend a little more than the USA.
“In contrast, China, which has by far the largest animal population in the world, at 6.35 billion animals, spends less than 1 percent of GDP on veterinary services.”
More information on the full report and the cost is available at http://bit.ly/2mcsMPE.