Summary
Major players in the spay and neuter market are CVS Group Plc, VetPartners Group Limited, Ethos Veterinary Health LLC, PetIQ, Covetrus, Inc., Zoetis Inc., VCA Animal Hospitals, Veritas Veterinary Partners, AniCura AB, and Dash Solutions.
The global spay and neuter market is expected to grow from $2.11 billion in 2022 to $2.24 billion in 2023 at a compound annual growth rate (CAGR) of 5.8%.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, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The spay and neuter market is expected to reach $2.6 billion in 2027 at a CAGR of 4.7%.
The spay and neuter market include revenues earned by entities by ovariohysterectomy, orchiectomy, hysterectomy, and vasectomy.The market value includes the value of related goods sold by the service provider or included within the service offering.
Only goods and services traded between entities or sold to end consumers are included. The value of goods in this market includes related services sold by the creators of the goods.
Spay and neuter are medical procedures performed on cats and dogs to prevent them from reproducing. A spay is defined as the process of removing the ovaries, fallopian tubes, and uterus from a female cat or dog while a neuter is defined as the process of removing the testes from a male dog or cat.
North America was the largest region in the spay and neuter market in 2022.Asia-Pacific is expected to be the fastest-growing region in the forecast period.
The regions covered in spay and neuter report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main animal types of spay and neuter are dogs, cats, and other animals.A dog can be defined as a four-legged animal that is a pet animal, for guarding, or for hunting purposes.
The various provider types include veterinary clinics and hospitals, others. These are used by various end-users such as animal welfare groups, and pet owners.
An increase in pet adoption will propel the growth of the spay and neuter market going forward.Animal adoption is defined as acquiring animals through rescue groups instead of purchasing them from pet shops or breeders.
Spaying and neutering are used by animals for protection against various diseases and medical conditions and from unwanted births. For instance, in 2021, according to Chewy, Inc., a US-based online retailer of pet food and other products, there were around 977,202 pets adopted in the US in 2021, which resulted in the highest adoption rate of 61% in the past six years. For another instance, in November 2022, according to a national survey of pets and people published by Animal Medicines Australia (AMA), an Australia-based industry body representing the leaders of the animal health industry in Australia, in 2022, 48% of households had dogs, up from 40% in 2019. According to the 2021–2022 APPA National Pet Owners Survey, 90.5 million American households, or about 70% of all houses, have a pet. Therefore, the rise in the rate of animal adoption is driving the growth of the spay and neuter market.
Product innovations are a key trend gaining popularity in the spay and neuter market.Major market players are concentrating their efforts on introducing new and advanced products to strengthen their position in the market.
For instance, in July 2022, Virbac, a France-based animal health products and pharmaceuticals company launched VETERINARY HPM®, which is a unique nutritional line of food products specifically for spayed and neutered pets. This line of food products is made with special resources to provide nutritional value for pets after undergoing spaying and neutering procedures.
In February 2021, Auburn Valley Humane Society, a US-based animal shelter, merged with Northwest Spay & Neuter Center.This merger positively affected animal lives in Washington and increased the stabilized funding streams for total animal impact in the state.
The merger helped the organizations to diversify, to become more financially stable, and increased the breadth of granting and funding eligibility of the organizations. Northwest Spay & Neuter Center is a US-based center that offers affordable spay and neuter services.
The countries covered in the spay and neuter market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The spay and neuter market research report is one of a series of new reports that provides spay and neuter market statistics, including spay and neuter industry global market size, regional shares, competitors with a spay and neuter market share, detailed spay and neuter market segments, market trends and opportunities, and any further data you may need to thrive in the spay and neuter industry. This spay and neuter market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
