( MENAFN - Straits Research) Introduction Veterinary medicine encompasses preventing, treating, managing, and diagnosing animal diseases, disorders, and injuries. It involves animal husbandry, breeding, nutrition research, and product development. The scope of veterinary medicine is vast, as it incorporates all animal species, both domesticated and companion, and many diseases that can affect different species.
Veterinary medicine is widely practiced both with and without professional supervision. A veterinary physician (a veterinarian, veterinary surgeon, or "vet") typically manages professional care; however, veterinary nurses, technicians, and assistants are frequently involved. Market Dynamics Growing Rates of Pet Ownership Drives the Global Market The increase in pet ownership drives the demand for improved care for companion animals, increasing the total expenditure on pets.
As estimated by the American Pet Products Association, the pet industry in the United States has experienced a significant expenditure increase. In 2019, the total expenditures in the pet industry increased by USD 5.2 billion compared to 2018.
Nearly 67% of American households have a companion. The rising prevalence of pet insurance in developed nations also drives up the pet ownership rate. Countries such as Brazil, China, and Ukraine also invest heavily in animal health.
Consequently, the increase in the number of companion animals and expenditures drives the expansion of the veterinary medicine i.