Spay and Neuter Market Analysis

Spay and Neuter Market Analysis

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By animal type, the spay and neuter market is classified dogs, cats, and other animals. The dogs segment is further categorized into spaying and neutering. The dog segment dominated the market in 2022, with a market share of 64.3%. With a substantial and ever-growing population of canine companions, the demand for spaying and neutering services for dogs is expected to surge. Also, increasing awareness among pet owners about the benefits of these procedures, such as curbing overpopulation, reducing health risks, and promoting responsible pet ownership has further increased the adoption of such surgeries. Moreover, veterinary clinics and animal welfare organizations have actively promoted and encouraged spaying and neutering campaigns, thereby further contributing to the segment's dominance. As a result, businesses focusing on providing spay and neuter services for dogs have flourished, thus aiding in high segmental growth.
 

By provider, the market is segmented into veterinary clinics, veterinary hospitals, and research centres and academia. The veterinary clinics segment held a revenue of USD 1,235.9 million in 2022 and is anticipated to witness significant growth over the analysis timeframe. Key factors contributing to the high share include a higher volume of patients and competitive pricing options offered by the veterinary clinics. Veterinary clinics, with their specialized expertise and state-of-the-art facilities and advanced veterinary surgical instruments have become the go-to-choice for pet owners seeking these essential procedures. Their ability to offer comprehensive pre-operative assessments, safe surgical procedures, and post-operative care has instilled confidence among pet owners, further contributing to their market dominance. Moreover, several clinics have adopted proactive marketing strategies and expanded their services to include affordable packages, fostering greater accessibility and affordability for a broader range of pet owners. As a result, the veterinary clinic segment continues to maintain its dominant market share.
 

North America dominated the spay and neuter market in 2022, with a revenue of USD 913.2 million and is anticipated to grow at a CAGR of 5.1% between 2023 – 2032. The increasing awareness coupled with the growing emphasis on animal welfare has played a pivotal role in driving the demand for spaying and neutering services across the region. Also, advancements in veterinary medicine and surgical techniques have made these procedures safer and more accessible to pet owners. Further, numerous animal welfare organizations and local authorities have been actively promoting spay and neuter campaigns to address the issue of pet overpopulation. Lastly, high expenditure on animal healthcare in the region further aids in market growth. As a result of these combined efforts, the market has witnessed high market share in the region.