Every challenge is an opportunity and the history of veterinary medicine
is a testament to that. While many think that veterinary medicine is a
conservative profession, the field has been going through some major changes;
not just due to the Covid-19 pandemic.
The shift in generation as Millennials become the prime consumer is a
significant change for the veterinary medicine industry. Rapid adoption of pets for companionship and
decline in birth and marriage rates fuelling the demand for pets as a substitute
for children are some new trends in the pet world. On top of that, the Covid-19
outbreak was especially tough as veterinary doctors had to adapt quickly. From
reducing the number of patients to offering online consultation, veterinary
doctors had to change their ways of conducting business.
During the pandemic, the number of pet adoption increased tremendously
across the globe. Being stuck in the house was not an easy task and having a pet
living with you gave a sense of companionship. Thus, the demand for veterinary
services boomed despite the restrictions imposed by the governments. Over the
last few years, some striking trends are being witnessed in the veterinary
market:
· Cats and dogs: Previously, dogs were more popular pets. However, cats have gained sudden popularity over the last few years. Cats demand entirely different kinds of treatment, care, and need immediate attention. This positively affected the demand for veterinary medicines.
· Pet obesity: The number of obese pets has increased drastically. Veterinary doctors have to carefully construct diet plans for pets and recommend regular exercise. In addition, they are encouraging pet owners to be more engaged with their pets and review their calorie intake as obesity can be a cause of some chronic health conditions
· Pet insurance: Although pet insurances are quite expensive owing to shots, prescribed medications, treatments, they are gaining popularity. It is observed that many veterinary facilities offer a better quality of care for pets for a higher price. Some veterinary practitioners personalized diet plans for pets to keep them fit.
· Specialty
services: Veterinary
facilities are not keen to hire specialists to offer extensive care for pets. Many
facilities offer dermatologists, surgeons, and other specialty professionals to
offer in-house services. For years, these facilities did not have a specialist
on call, which created challenges. However, with the availability of
specialists, pets get quicker, expert care.
Technological advancements in equipment: A lot of veterinary facilities have upgraded their equipment for better service. The use of digital x-ray machines and other targeted equipment make it easier to diagnose pets and offer the correct treatment. Prior to this, veterinary doctors had to rely on their judgment and traditional methods and techniques.
Apart from these, the veterinary medicine industry has witnessed several
changes such as the adoption of snakes, hamsters, and other reptiles as pets.
This has created many challenges and thus, the scope for opportunities in the
market. The rapidly changing market will open new opportunities in the coming
years.
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