PUBLISHER: The Business Research Company | PRODUCT CODE: 1414597
PUBLISHER: The Business Research Company | PRODUCT CODE: 1414597
“Spay And Neuter Global Market Report 2024 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on spay and neuter market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for spay and neuter? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The spay and neuter market global report ” from The Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
Spaying and neutering are surgical procedures conducted on cats and dogs to prevent their reproduction. The process of spaying involves the removal of the ovaries, fallopian tubes, and uterus from a female cat or dog. Neutering, on the other hand, entails the removal of the testes from a male dog or cat.
The primary recipients of spaying and neutering procedures are dogs, cats, and various other animals. Dogs, which are four-legged animals commonly kept as pets, for guarding purposes, or utilized in hunting activities, are a significant focus of these procedures.Multiple providers offer spay and neuter services, including veterinary clinics, hospitals, and other establishments. These services cater to a diverse range of end-users, including animal welfare groups and individual pet owners who seek to manage animal populations and promote responsible pet ownership.
The spay and neuter market research report is one of a series of new reports from The Business Research Company 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.
The spay and neuter market size has grown strongly in recent years. It will grow from $2.24 billion in 2023 to $2.36 billion in 2024 at a compound annual growth rate (CAGR) of 5.5%. The expansion witnessed in the historical period can be ascribed to various business drivers. These include the rising pet population, successful public awareness campaigns, regulatory initiatives shaping the industry landscape, advancements in veterinary practices, heightened awareness of animal welfare issues, and the imperative to address challenges associated with pet overpopulation. These factors collectively contributed to the growth observed during the specified historical timeframe.
The spay and neuter market size is expected to see steady growth in the next few years. It will grow to $2.83 billion in 2028 at a compound annual growth rate (CAGR) of 4.7%. The anticipated growth in the forecast period can be linked to a range of factors, including global health concerns, the proliferation of mobile clinics, educational programs, government backing, and collaborative efforts with nonprofits. Notable trends expected in this period encompass advancements in veterinary procedures driven by technology, an upswing in public awareness and educational initiatives, governmental and non-governmental organization (NGO) interventions, an increased emphasis on animal welfare, and innovations in sterilization methods. These trends collectively contribute to the projected growth in the forecasted timeframe.
The anticipated growth in the spay and neuter market is poised to be fueled by the increasing trend of pet adoption. Pet adoption, characterized by acquiring animals through rescue groups rather than traditional sources such as pet shops or breeders, has gained prominence. Spaying and neutering procedures are integral to ensuring the health and well-being of adopted animals, protecting them from various diseases and medical conditions while also preventing unplanned births. For example, in 2021, Chewy, Inc., a leading US-based online retailer of pet products, reported a significant rise in pet adoptions, with approximately 977,202 pets adopted in the US, marking the highest adoption rate in the past six years. Similarly, findings from a national survey by Animal Medicines Australia (AMA) in November 2022 revealed that 48% of households in Australia had dogs, reflecting the increasing prevalence of pet adoption. With around 70% of all US households having a pet, as per the 2021-2022 APPA National Pet Owners Survey, the surge in animal adoption rates is a key driver propelling the growth of the spay and neuter market.
The influential factor contributing to the growth of the spay and neuter market is the rising population of stray dogs. Stray dogs, also known as street dogs or free-ranging urban dogs, are those not confined to a specific home or location and inhabit public areas. Spaying and neutering procedures play a vital role in addressing the challenges posed by stray dogs, effectively controlling pet overpopulation and mitigating the issue of homeless animals. Veterinarians and animal welfare organizations often recommend these procedures as a responsible means to control pet overpopulation and reduce the number of animals without homes. For instance, a report from the State of Pet Homelessness Index of India in 2021 estimated that around 80 million homeless cats and dogs in India reside in shelters or on the streets. The country also leads in the number of rabies cases, with 18,000-20,000 deaths annually. Consequently, the mounting population of stray dogs serves as a significant driver for the growth of the spay and neuter market.
A prominent trend in the spay and neuter market is the emphasis on product innovations, with major players channeling efforts into introducing advanced products to bolster their market positions. An illustrative example is Virbac, a France-based animal health products and pharmaceuticals company, which launched VETERINARY HPM in July 2022. This unique nutritional line of food products is specifically designed for spayed and neutered pets, utilizing special resources to provide tailored nutritional value post-surgery.
Strategic partnerships and collaborations are key strategies adopted by major companies and organizations in the spay and neuter market to launch innovative services and gain a competitive advantage. These collaborations often involve partnerships between diverse entities such as veterinary clinics, animal welfare groups, and government agencies, aiming to provide affordable or free spaying and neutering services for pet owners. In a notable instance from October 2023, Santa Clarita, a US-based city, collaborated with the Los Angeles County Department of Animal Care and Control (DACC) and Simi Valley Non-Profit Clinic to initiate a low-cost mobile spay and neuter service targeting the Newhall Community Center. This initiative aligns with the city's commitment to enhance the health and well-being of its animal population, complying with relevant municipal codes. The mobile clinic, stationed at the Newhall Community Center every Monday, aims to provide affordable pet care to individuals in need of financial assistance.
In February 2021, Auburn Valley Humane Society, a US-based animal shelter, merged with Northwest Spay & Neuter Center, leading to positive outcomes for animal lives in Washington. This strategic move enhanced financial stability, diversified services, and expanded eligibility for grants and funding, contributing to the overall growth and effectiveness of both organizations. Northwest Spay & Neuter Center, known for offering affordable spay and neuter services, became an integral part of the expanded and impactful initiatives facilitated by the merger.
Major companies operating in the spay and neuter market report are CVS Group Plc, VetPartners Group Limited, Ethos Veterinary Health LLC, PetIQ, Covetrus Inc., Zoetis Inc., VCA Animal Hospitals Incorporated, Veritas Veterinary Partners, AniCura AB, Dash Solutions, Companions Spay & Neuter, Petco Animal Supplies Inc., Naoi Animal Hospital, Houston Humane Society, East Valley Veterinary Clinic, Animal Spay-Neuter Clinic, Chisholm Trail Veterinary Clinic, Low-Cost Spay/Neuter Clinics - NHSPCA, Oakdale Veterinary Group, PetIQ, Queen City Animal Hospital, Suveto Veterinary Health Hospital, Thornhill Veterinary Clinic, Veritas Veterinary Partners, VetPartners Group Limited, Willow Rock Pet Hospital, Zoetis Inc.
North America was the largest region in the spay and neuter market in 2023. Asia-Pacific is expected to be the fastest-growing region in the global spay and neuter market report during the forecast period. The regions covered in the spay and neuter market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The countries covered in the spay and neuter market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain
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.
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.