Animal Hospitals and Veterinary Clinics Global Market Report 2024

The animal hospitals and veterinary clinics market size has grown strongly in recent years. It will grow from $113.97 billion in 2023 to $121.79 billion in 2024 at a compound annual growth rate (CAGR) of 6.9%. The growth witnessed in the historical period within the sector of animal hospitals, veterinary clinics, and veterinary hospitals can be ascribed to several pivotal factors. These encompass the heightened adoption of pet insurance, an upsurge in expenditures dedicated to pets, a notable increase in animal healthcare spending, and a substantial growth in the pet population.

The animal hospitals and veterinary clinics market size is expected to see strong growth in the next few years. It will grow to $157.88 billion in 2028 at a compound annual growth rate (CAGR) of 6.7%. Anticipated growth in animal hospitals and clinics is fueled by factors such as rising pet ownership, increased demand for animal-derived products, government support, and a surge in animal diseases. Key trends include mobile veterinary units, electronic health records, integration of AI in animal care, novel screening tests, and a growing emphasis on pet care e-commerce. These trends align with changing consumer preferences, technological advancements, and broader industry dynamics.

The animal hospitals and veterinary clinics market is experiencing significant growth propelled by the increasing adoption of companion pets worldwide. This surge is attributed to the trend of considering pets as integral family members, leading to higher spending on their care. Reports from the American Veterinary Medical Association and the American Society for the Prevention of Cruelty to Animals (ASPCA) have noted a correlation between the human-animal bond and increased pet expenditures. For instance, in the USA, approximately 3.2 million shelter animals are adopted annually, and Americans have spent around $17 billion on veterinary care and related services, showcasing the growing importance of pet healthcare. Similarly, Chinese pet owners are also notably spending substantial amounts, exceeding 5,000 yuan per pet. Such trends are driving the expansion of the animal hospital and veterinary clinic market in the foreseeable future.

The increasing demand for pet insurance is poised to be a significant driver for the growth of the animal hospitals and veterinary clinics market. Pet insurance offers financial coverage for certain veterinary expenses incurred in caring for pets, assisting owners in managing their pets' healthcare costs. This insurance is applicable at animal hospitals and veterinary clinics, covering various expenses such as examination fees, treatments, and medications. Notably, data from the North American Pet Health Insurance Association (NAPHIA) indicates a substantial surge in pet insurance adoption. In 2022, 5.36 million pets in North America were insured, marking a notable 21.7% increase from the previous year's 4.4 million. Consequently, the escalating demand for pet insurance is a key factor propelling the growth of the animal hospitals and veterinary clinics market.

The animal hospital and veterinary clinic market operate under stringent regulations overseen by authoritative bodies such as the Australian Pesticides and Veterinary Medicines Authority (APVMA). In Australia, the Veterinary Surgeons Act 1960, Section 24A specifically mandates the registration of veterinary premises, including clinics or hospitals, by the Veterinary Surgeons’ Board. The Board evaluates and approves the registration of these premises, ensuring their suitability for intended use and management by a qualified veterinary surgeon before granting registration. Compliance with these regulations is essential for the operation of veterinary facilities in Australia.

Numerous veterinary care service providers are leveraging big data technologies to enhance animal treatment, encompassing pets, livestock, and other animals. The utilization of big data facilitates the diagnosis and evaluation of potential diseases affecting various animals. This technology empowers veterinarians to discern diseases prevalent in diverse locations and regions among cattle and pets. For instance, Bayer Healthcare Animal has introduced applications geared towards identifying potential disease indicators in animals, streamlining the diagnosis and prompt treatment of these conditions. Notable veterinary care providers, including VCA Inc., Banfield Pet Hospitals, and Greencross Limited, are actively embracing big data analytics to address pet health concerns and effectively manage animal health issues.

Key companies in the animal hospitals and veterinary clinics market are introducing innovative solutions, such as lactate analyzers, aiming to establish a competitive advantage. Lactate analyzers are instrumental devices utilized by animal hospitals and veterinary clinics to enhance veterinary care by swiftly and accurately measuring lactate levels. For instance, in December 2022, EKF Diagnostics, a UK-based healthcare company, unveiled the Lactate scout vet. This handheld veterinary lactate analyzer caters to the requirements of veterinarians and animal welfare professionals, delivering precise lactate measurements in just 10 seconds. The device incorporates an e-paper display feature, enhancing result readability and usability for practitioners in the field.

Major companies operating in the animal hospitals and veterinary clinics market report are Mars Inc., National Veterinary Associates Inc., CVS Group PLC, Apiam Animal Health Limited, Medivet Group Limited, Pets at Home Group PLC, MSPCA-Angell, Veterinary Purchasing Co. Ltd., Greencross Vets Limited, Zabeel Veterinary Hospital, International Center for Veterinary Services, Simplyhealth Group, Paw Veterinary Clinic, Chengdu Vet Hospital, Canberra Veterinary Hospital, Shengpu Pet Hospital, Blacks Vets Dudley Hospital, Frantz Cappe, Clinique Veterinaire Metivet, Alizee Vet Clinic, Cristina Cardone, Abbey House Veterinary Hospital, The Animal Medical Center, Premier Veterinary Group PLC, Movet, Primo Veterinary Medicines Trading LLC, ANIMED Veterinary Clinic, Vetwest Animal Hospitals, Veterinary Vinohrady Brno, Centre Vétérinaire Laval, P3 Veterinary Partners, Audrain Veterinary Clinic Fuzzy, Maure, Mimados, Peru Animal Hospital, Miami County Veterinary Clinic, Cindy Fouts, Kokomo Animal Hospital, Royal Veterinary College, AL KUBARA VETERINARY MEDICINES TRADING LLC, Eurovets Veterinary Suppliers, Bryanston Veterinary Hospital (BVH), Kampala Animal Hospital.

North America was the largest region in the animal hospitals and veterinary clinics market in 2023. Asia-Pacific was the second-largest region in the global animal hospitals and veterinary clinics market. The regions covered in the animal hospitals and veterinary clinics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the animal hospitals and veterinary clinics market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Canada, Spain.

The main types of services offered by animal hospitals and veterinary clinics include consultation, surgery, medicine, and other specialized services. Veterinary doctors perform surgeries to address medical issues that animals may be facing. These services cater to a range of animals, including farm animals and companion animals, which are utilized in various sectors such as animal care, animal rescue, and other end-user applications.

The animal hospitals and veterinary clinics research report is one of a series of new reports that provides animal hospitals and veterinary clinics statistics, including animal hospitals and veterinary clinics industry global market size, regional shares, competitors with animal hospitals and veterinary clinics shares, detailed animal hospitals and veterinary clinics segments, market trends and opportunities, and any further data you may need to thrive in the animal hospitals and veterinary clinics industry. This animal hospitals and veterinary clinics 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 animal hospitals and veterinary clinics market includes revenues earned by entities by providing diagnosis, treatment, and care to patients and offering preventive healthcare schedules to improve the health condition of pets and other animals. 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.

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.


This product will be delivered within 3-5 business days.