The Use Of Electronic Health Records Is Trending In The Animal Hospitals And Veterinary Clinics Market
The Business Research Company's animal hospitals and veterinary clinics market research report expands on key drivers, trends, and growth opportunities in the market.
LONDON, Sept. 29, 2022 /PRNewswire/ -- The use of electronic health records (EHR) is trending in the animal hospitals and veterinary clinics market. These offer an efficient way to collect and store electronic health information about a client's pet or livestock. Electronic health records accurately represent vital data while ensuring pet history and relevant information which is always accessible and easy to use, in order to increase efficiencies. This allows veterinarians to examine possible trends and long-term changes in the pet's record. For instance, in February 2022, DCC (Dogs Cats & Companions) Animal Hospital, an Indian veterinary hospital, has launched its flagship proprietary app 'PetConnect', offering the first-ever comprehensive and reliable medical history and records database for pets, marking its foray into PetTech with an investment of INR80 million ($1.00 million) to INR90 million ($1.13 million) in the project.
The global animal hospitals and veterinary clinics market size grew from $95.94 billion in 2021 to $106.2 billion in 2022 at a compound annual growth rate (CAGR) of 10.7%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, effecting many markets across the globe. The global animal hospitals and veterinary clinics market growth is expected to reach $138.37 billion in 2026 at a CAGR of 6.8%.
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The Rising Prevalence Of Zoonotic Diseases Is A Major Driver For The Animal Hospitals And Veterinary Clinics Market
As per the animal hospitals and veterinary clinics market analysis, the increasing prevalence of zoonotic diseases is expected to propel the growth of the animal hospitals and veterinary clinics market during the forecast period. People living adjacent to wilderness areas or in semi-urban areas with higher numbers of wild animals are at risk of disease from animals such as rats, foxes or raccoons. Urbanization and the destruction of natural habitats increase the risk of zoonotic diseases by increasing contact between humans and wild animals.
The Shortage Of Veterinarians Is Limiting The Growth Of The Animal Hospitals And Veterinary Clinics Market
A shortage of veterinarians is restraining the growth of the animal hospitals and veterinary clinics market during the forecast period. The veterinary shortage has put a huge amount of pressure on professionals. In the long term, changes in pay, work-life balance, and client expectations have driven dissatisfaction. In the short term, the pandemic has increased practice inefficiency, and therefore backlogs, exacerbating shortages. For instance, in March 2022, according to an American weekly magazine that specializes in celebrity news and human-interest stories, with an average of 2,500-2,600 graduates becoming veterinarians each year, there is an estimated 15,000 veterinarian shortage for U.S. animals by 2030.
Animal Hospitals And Veterinary Clinics Market Segments
The global animal hospitals and veterinary clinics market is segmented -
1) By Type: Consultation, Surgery, Medicine, Other Types
2) By Animal Type: Farm Animals, Companion Animals
3) By End User: Animal Care, Animal Rescue, Other End Users
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