Japan Veterinary Healthcare Market Size and Future Opportunities...

Japan Veterinary Healthcare Market Size and Future Opportunities Till 2033: SPER Market Research

نشر بتاريخ 2024-06-21 05:15:37

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A field of medicine known as "veterinary healthcare" deals with the diagnosis, treatment, and prevention of diseases in animals. It also describes the duties of a practitioner who treats ill or injured animals or who tries to stop the spread of infectious diseases from one pet to another. Veterinarians provide veterinary services, veterinary medicine, and veterinary medical equipment to a wide range of animal patients, including dogs, cats, horses, pigs, poultry, and other ruminant and ruminant species.

According to SPER market research, ‘Japan Veterinary Healthcare Market Size- By Product, By Animal Type - Regional Outlook, Competitive Strategies and Segment Forecast to 2033’ state that the Japan Veterinary Healthcare Market is predicted to reach USD 4.55 billion by 2033 with a CAGR of 7.07%.

Growth Drivers: According to statistics from the Japan Pet Food Association, the number of dogs and cats owned increased by 15% in 2020 over the year before, 2019. Demand rose at a number of pet retailers, private breeders, nonprofit rescue groups, and animal shelters. Therefore, the Japanese veterinary healthcare market may see long-term expansion driven by increased pet adoption. The Japanese veterinary healthcare market is being driven by the threat of zoonotic infections. In addition to investing in R&D and transfer in veterinary health, Inter-Governmental Organizations and food producers are putting health promotion initiatives into action through vaccinations and surveillance.

Technology advancements that lead to better animal treatment and a rise in pet ownership are also responsible for the growth of the Japanese veterinary healthcare sector.

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Challenges: Numerous challenges impact the efficacy and expansion of the Japanese veterinary healthcare market. The aging veterinarian population is a significant problem since it creates a shortage of skilled professionals who can provide animals with excellent care. The scarcity of veterinary doctors is made worse by the fact that younger generations are less likely to pursue careers in the area due to its difficulty and lack of financial rewards. There are also gaps in the healthcare system because many pet owners struggle to pay for prescription medications and veterinary treatment. In addition, the stringent legal framework and licensing standards in Japan may pose challenges for aspiring veterinary practitioners as well as for the adoption of innovative medical practices and technological developments.

Impact of COVID-19 on Japan Veterinary Healthcare Market

Japan's veterinary healthcare business is among the several economic sectors affected by the COVID-19 epidemic. Maintaining good cleanliness and avoiding disease transmission between pet owners and their animals is recommended. Carrying animal goods to markets, such meat, eggs, and milk, has proven to be challenging. Nowadays, cattle are not allowed to cross borders during certain seasons. Pet adoption increased throughout the pandemic. Dog and cat ownership grew by 15% between 2019 and 2020, according to a 2020 Japan Pet Food Association poll.

Japan Veterinary Healthcare Market Key Players:

Additionally, some of the market key players are; FUJIFILM Holdings Corporation, Kyoritsu Seiyaku Corporation (Carus Animal Health), Merck & Co., Inc., NIHON NOHYAKU CO.,LTD., NIPPON ZENYAKU KOGYO CO., LTD., Nisseiken Co., Ltd., Sumitomo Dainippon Pharma Co., Ltd, Virbac, Zoetis Inc.

Our in-depth analysis of the Japan Veterinary Healthcare Market includes the following segments:

By Product: