Veterinary Services Market Report 2025

The veterinary services market size has grown strongly in recent years. It will grow from $156.4 billion in 2024 to $168.86 billion in 2025 at a compound annual growth rate (CAGR) of 8%. The growth in the historic period can be attributed to the growth of pet ownership trends, humanization of pets, urbanization and population density, and companion animal insurance.

The veterinary services market size is expected to see strong growth in the next few years. It will grow to $223.15 billion in 2029 at a compound annual growth rate (CAGR) of 7.2%. The growth in the forecast period can be attributed to preventive and wellness services, specialized veterinary care, one health approach, e-commerce in pet pharmaceuticals, and global pandemic impact. Major trends in the forecast period include technological innovations, telemedicine and remote consultations, advancements in veterinary medicine, telehealth for pets, and a focus on preventive care.

Global meat production is expected to increase during the forecast period, which will support the growth of the veterinary services market. For example, in February 2024, UK government livestock statistics indicated that total meat production in 2022 reached 4.2 million tonnes, marking an 18% increase compared to a decade earlier. Red meat production rose in 2022, with mutton and lamb showing the largest increase at 2.9%. The rising production of meat products, driven by a growing population, will lead to increased demand for feed additives in the livestock industry, thereby boosting the veterinary services market.

The increasing adoption of companion animals is expected to drive the growth of the veterinary services market. Companion animals refer to domesticated or domestic-bred animals whose physical, emotional, behavioral, and social needs are met as housemates or close companions to humans. Veterinary services are crucial for diagnosing and treating health issues in companion animals, ensuring their well-being, and preventing the spread of zoonotic diseases. For instance, in July 2024, U.S.-based Insurance Zebra reported that in 2023, 3.2 million dogs were admitted to shelters across America, reflecting a 0.2% increase from 2022. Additionally, approximately 44.5% of households owned a dog as a pet in 2022. Therefore, the rising adoption of companion animals is contributing to the growth of the veterinary services market.

Telemedicine is gaining popularity as it allows pet owners to access quality care from remote locations, representing a subset of telehealth encompassing both clinical and non-clinical elements of the healthcare system. This technology facilitates direct communication between veterinarians and clients through various communication systems, such as phones, email, and video conferencing technologies. Additionally, telemedicine contributes to enhancing existing veterinarian-client-patient relationships, addressing the demand driven by busy lifestyles and consumers' preference for personalized services. Several veterinary clinics offering telemedicine services include Televet, Fuzzy Pet Health, and Healthpets.

Major companies are strategically focusing on developing partnerships to enhance their revenues. Such collaborations offer various advantages, including access to new technologies, expanded customer choices, global service capabilities, collaborative platforms, and service integration. A notable example is the partnership between GlobalVetLink, a US-based provider of software services and informatics solutions in the animal field, and Veterinary Innovative Partners in September 2022. This collaboration aims to streamline clinic processes by implementing the GlobalVetLink Compliance Assistant platform. Veterinary Innovative Partners seeks to enhance efficiency in managing animal health certificates and other compliance documents required for pet travel through this platform, which is a comprehensive Software-as-a-Service (SaaS) designed to streamline animal health compliance across all veterinary practices.

Major companies operating in the veterinary services market include Mars Inc., Zoetis Inc., VCA Inc., IDEXX Laboratories Inc., Qiagen N.V., Pets at Home Group PLC, BluePearl Pet Hospital, Dechra Pharmaceuticals plc, PetIQ LLC, CVS Group Plc, Banfield Pet Hospital, Neogen Corporation, Vetpartners, Greencross Limited, National Veterinary Associates Inc., Pathway Vet Alliance LLC, Ethos Veterinary Health LLC, Southern Veterinary Partners, VetCor, VetStrategy, National Veterinary Care Ltd., VetnCare, PetVet Care Centers, Kremer Veterinary Services, Armor Animal Health, Addison Biological Lab Inc., FirstVet AB, Vetnovo.

North America was the largest region in the veterinary services market in 2024. Asia-Pacific was the second-largest region in the veterinary services market. The regions covered in the veterinary services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the veterinary services market report are Australia, China, India, Indonesia, Japan, South Korea, Bangladesh, Thailand, Vietnam, Malaysia, Singapore, Philippines, Hong Kong, New Zealand, USA, Canada, Mexico, Brazil, Chile, Argentina, Colombia, Peru, France, Germany, UK, Austria, Belgium, Denmark, Finland, Ireland, Italy, Netherlands, Norway, Portugal, Spain, Sweden, Switzerland, Russia, Czech Republic, Poland, Romania, Ukraine, Saudi Arabia, Israel, Iran, Turkey, UAE, Egypt, Nigeria, South Africa.

The veterinary services market includes revenues earned by entities by providing treatment for ill animals, prevention of production-limiting conditions, distribution of medicines, vaccinations, and other products. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

Veterinary services encompass the provision of medical care to pets, farm animals, and animals residing in zoos and wildlife parks. These services, delivered through animal hospitals and veterinary clinics, involve consultations, treatments, and the administration of curative medicines aimed at enhancing the health and life cycles of animals.

The primary categories of veterinary services include animal hospitals, veterinary clinics, and veterinary laboratory testing services. Veterinary laboratory testing services focus on testing animals for various diseases, offering both onsite and offsite testing options for both livestock and companion animals. Expenditure on these services can be attributed to both public and private sectors.

The veterinary services research report is one of a series of new reports that provides veterinary services statistics, including veterinary services industry global market size, regional shares, competitors with veterinary services share, detailed veterinary services segments, market trends and opportunities, and any further data you may need to thrive in the veterinary services industry. This veterinary services research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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