The veterinary healthcare market in Mexico is expected to account for USD XX billion in 2021 at a CAGR of XX% from USD XX billion in 2016.
The veterinary healthcare market by diagnostics may be defined as the diagnostics tests that are carried out for the detection of various diseases in animals. These processes are executed through various methods that use blood, feces, and tissue sample from animals.
Mexico Veterinary Healthcare Market-Market Dynamics
Veterinary healthcare is gaining importance as a result of manufacturers focusing on the production of products with specialized formulations and manufacturing processes. These are essentially beneficial for animal lovers and companion animal owners.
Some of the factors driving the market are:
Some of the factors restraining the growth of Mexico’s Veterinary Healthcare market are:
Opportunities and Challenges
The increase in exports of animal products from Mexico to other countries of North America like the US and Canada and government regulations to curb the increasing price are some of the opportunities for market players. However, the declining veterinarian population and the lack of awareness about animal healthcare in the rural areas of the country pose some of the major challenges for the key players.
The Mexico veterinary market can be broadly segmented based on animal types, products, and diagnostics. Based on the animal type, the market is further segmented into farm animal health market (poultry, swine, fish, cattle, and sheep) and companion animal health (dogs, cats, horse). Based on diagnostic tools, the market is further sub-segmented into clinical chemistry, hematology tests, molecular diagnostics, diagnostic imaging and other veterinary diagnostic products. Based on the products, the market is segmented into vaccines, anti-infective, anti-parasitic, medical feed additives and other pharmaceuticals.
Some of the key players in the market are:
Key Deliverables in the Study