Japan Veterinary Healthcare Market Analysis Covering Size, Share, Growth, Trends and Upcoming OpportunitiesForecast 2022-2031

The Japan Veterinary Healthcare Market was valued at USD 1881.31 million, and it is expected to reach USD 3014.14 million, registering a CAGR of 8.57%. The outbreak of COVID-19 has impacted all industries including Japan’s veterinary healthcare market. Pet parents are advised to keep a safe distance from their pets in order to reduce the risk of contamination and maintain hygiene. There has been difficulty in moving animal products such as milk, eggs, meat to markets. The restriction were been implemented on the seasonal border crossing with ruminants.

Pet adoptions increased during this pandemic situation. A 2020 survey conducted by the Japan Pet Food Association found a 15 percent increase in dog and cat ownership compared with the previous year 2019. There were an estimated 8.49 million dogs and 9.64 million cats being kept as pets in Japan as of October 2020. Several animal shelters, non-profit rescue organizations, private breeders, and pet stores observed increased consumer demand. Thus, the rising adoption of pets may drive the growth of the Japanese veterinary healthcare market in the longer term.

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The risk from zoonotic diseases is fueling the market for Japan veterinary healthcare. Inter-Governmental Organizations and food production are making reforms to ensure health by the process of surveillance and vaccination, investing in R&D, and transfer with respect to vet health. Additionally, advanced technology leading to innovations in animal healthcare, increase in ownership of pet animals and increasing awareness about the health of animals consumed as food are also the factors responsible for the growth of Japan veterinary healthcare market.

Key Market Trends

Vaccine by Theapeitics Segment holds the major share in Japan Veterinary Healthcare Market

Vaccines are comprised of viruses, bacteria, or other disease-causing organisms that have been killed or altered so that they cannot cause any disease, thus, boosting immunity. New advanced vaccines have been manufactured containing genetically engineered components derived from those disease agents.

The vaccines segment is expected to be driven by innovations in vaccines, growing awareness of animal health, increasing investments by government bodies and associations, increasing demand for animal protein, including milk, meat, eggs, and fish, and rising healthcare expenditure for companion animals.

A strong foothold of key market players offering a wide range of products in the arena of veterinary vaccine is likely to fuel the segmental growth over upcoming years. For instance, Kyoritsu seiyaku Corporation is offering vaccines namely Canivac KC-3 for Prevention of canine adenovirus (type 2) infection, canine parainfluenza & canine Bordetella infection and Felivac 3 for the prevention of feline viral rhinotracheitis, feline calicivirus infection, and feline panleukopenia. Thus, the easy availability of such product will likely boost the growth of this segment over the forecast period.

Japan Veterinary Healthcare Market Analysis Covering Size, Share, Growth, Trends and Upcoming
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