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Industry Landscape
The veterinary industry is experiencing robust growth, driven by increasing pet ownership, humanization of pets, and advancements in veterinary medicine. Technology integration, efficient practice management solutions, and a focus on specialized care are key trends. The market is competitive with both large distributors and specialized providers.
Total Assets Under Management (AUM)
US Veterinary Services Market Size in United States
~Unknown
(Unknown% CAGR)
No specific growth rate information available from the provided context.
Further research is needed to determine the exact annual growth rate.
Breakdown of factors is unavailable without growth data.
Total Addressable Market
Unknown
Market Growth Stage
Pace of Market Growth
Emerging Technologies
Telemedicine & Remote Monitoring
Enables veterinarians to provide consultations and monitor animal health remotely, improving access to care and practice efficiency.
AI-Powered Diagnostics
Utilizes artificial intelligence to analyze medical images and data, leading to faster and more accurate disease detection in animals.
Personalized Veterinary Medicine
Leverages genetic and molecular data to tailor treatments and preventative care specifically to individual animals, enhancing efficacy.
Impactful Policy Frameworks
Veterinarian-Client-Patient Relationship (VCPR) Flexibilities (2020-2023, ongoing)
During and post-COVID-19 pandemic, many states relaxed VCPR requirements to allow for telemedicine, though some temporary waivers have expired or been made permanent with certain stipulations.
This policy enables Covetrus to expand its telehealth offerings and digital platforms, facilitating remote consultations and increasing efficiency for veterinary practices.
Controlled Substances Act (CSA) and Telemedicine (Ongoing Discussion)
The Drug Enforcement Administration (DEA) is continuously evaluating how controlled substances can be prescribed via telemedicine, impacting prescribing practices without an initial in-person exam.
Changes in CSA regulations directly affect the inventory and dispensing solutions Covetrus provides, requiring adaptability in their practice management software and supply chain.
Veterinary Feed Directive (VFD) - FDA (2017)
The FDA's Veterinary Feed Directive requires veterinary oversight for medically important antimicrobials administered in animal feed and drinking water to address antimicrobial resistance.
This regulation influences the demand and distribution of certain pharmaceutical products, requiring Covetrus to ensure compliance for its veterinary supply chain and educational resources.
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