The global spay and neuter market is on an upward trajectory, projected to increase from $2.11 billion in 2022 to $2.24 billion in 2023, showcasing a noteworthy compound annual growth rate (CAGR) of 5.8%. This growth is poised to continue, with the spay and neuter market anticipated to reach $2.6 billion in 2027, sustaining a CAGR of 4.7%.
Leading players in the spay and neuter market include 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.
Spaying and neutering are essential medical procedures for cats and dogs to prevent reproduction. Spaying involves the removal of the ovaries, fallopian tubes, and uterus in females, while neutering involves the removal of testes in males.
The primary animal types for spay and neuter procedures include dogs, cats, and other animals. These services are provided by veterinary clinics, hospitals, and other providers, serving various end-users, including animal welfare groups and pet owners.
The spay and neuter market research report offers comprehensive statistics, including global market size, regional shares, and competitor insights. It provides detailed segmentation, market trends, and opportunities, providing valuable information for success in the spay and neuter industry.
A key trend in the spay and neuter market is product innovation. Major market players are introducing new and advanced products to strengthen their market position. For example, in July 2022, France-based animal health products company Virbac launched VETERINARY HPM, a unique line of nutritional products tailored for spayed and neutered pets, addressing their specific nutritional needs.
In February 2021, Auburn Valley Humane Society, a US-based animal shelter, merged with Northwest Spay & Neuter Center, positively impacting animal lives in Washington. This merger enhanced financial stability, diversified operations, and increased granting and funding opportunities.
North America led the spay and neuter market in 2022, with the Asia-Pacific region projected to be the fastest-growing segment in the forecast period. The report covers regions such as Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa, including countries like Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA.
The growing trend of pet adoption is expected to drive spay and neuter market growth. In 2021, the US witnessed a record high of 977,202 pet adoptions, reflecting a 61% adoption rate over the past six years. Similarly, in Australia, 48% of households had dogs in 2022, up from 40% in 2019, showcasing the rising popularity of pet ownership.
The spay and neuter market encompasses revenues generated through ovariohysterectomy, orchiectomy, hysterectomy, and vasectomy procedures. The market value also includes associated goods and services offered by service providers. It focuses on goods and services traded between entities or sold to end consumers.
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