Veterinary Services Market – By Type (General, Specialty, Emergency), Service (Diagnostic Tests & Imaging, Physical Health Monitoring, Surgery, Vaccination, Grooming, Boarding, Daycare), Animal Type (Companion, Livestock) – Global Forecast 2024 – 2032

Veterinary Services Market Size

Veterinary Services Market size reached USD 110.8 billion in 2023 and is expected to grow at a CAGR of 7.3% from 2024 and 2032. This growth is mainly driven by a rise in global pet ownership, especially in cities where pets are seen as family members. This change has led to higher spending on pet health and wellness, as owners want the best care for their pets.
 

Increased awareness about animal health also boosts the market. Pet owners today have access to a lot of information through digital platforms and social media, making them more aware of the need for preventive care and regular check-ups. This awareness is increasing the demand for various veterinary services, from routine vaccinations to advanced diagnostic tests. The livestock sector also significantly contributes to the demand for veterinary services. With the global demand for animal products like meat, milk, and eggs rising, there is a greater need for effective health management of livestock. Veterinary services are essential for maintaining the health and productivity of livestock, which supports food safety and security.
 

Veterinary services include medical care and treatment for pets and livestock. These services cover preventive care like vaccinations, diagnostics, and surgeries. Veterinary services aim to ensure the health and well-being of animals, prevent and treat diseases, and manage injuries. They also offer specialized care, such as reproductive and nutritional advice, which helps improve the overall health and productivity of animals in different settings.

 

Veterinary Services Market Trends

• Advancements in veterinary medicine are driving the growth of the market. As technology and medical knowledge improve, veterinary care capabilities expand, significantly impacting the industry.
   
• One notable advancement is in diagnostic tools and technologies. Modern veterinary practices now use advanced imaging techniques like digital X-rays, ultrasound, MRI, and CT scans, allowing for more accurate and early diagnosis of various conditions.
   
• These advanced diagnostic tools help veterinarians detect diseases and health issues that were previously hard to identify, leading to more effective treatment plans and better outcomes for pets.
   
• Another significant advancement is the rise of telemedicine and telehealth services in veterinary care. With the increasing use of digital technologies, veterinarians can now offer remote consultations, follow-up appointments, and even diagnostic services through telehealth platforms.
   
• These advancements not only improve health outcomes for pets but also increase the demand for a wider range of veterinary services, driving the market's growth.
   

Veterinary Services Market Analysis

Based on type, the market is segmented into general services, specialty services, and emergency services. The general services segment accounted for USD 46.9 billion in 2023.
 

• General services include vaccinations, regular health check-ups, deworming, and flea and tick prevention, which are essential for pets and livestock.
   
• These services also cover grooming, pet daycare, and pet fitness care, meeting most basic veterinary needs, both medical and non-medical.
   
• This wide range of services ensures a large and loyal customer base, strengthening the general services segment's top position in the market.
   
• Additionally, the constant demand for these preventive measures, along with their affordability and accessibility, drives the segment's growth.
   

Based on service, the veterinary services market is classified into diagnostic tests & imaging, physical health monitoring, surgery, vaccination, grooming, pet boarding & daycare, pet fitness, and other services. The diagnostic tests and imaging segment held highest market share of 30.4% in 2023.
 

• Advanced technologies like X-rays, MRIs, and CT scans, along with detailed lab tests, are crucial for diagnosing and monitoring various animal health issues. Continuous improvements in these technologies boost their effectiveness, leading to higher adoption and demand.
   
• The focus on preventive care, the rise in animal diseases, and the increased consumption of animal products are driving the growth of this segment.
   

Based on animal type, the veterinary services market is bifurcated into companion animals and livestock animals. The companion animals segment dominated the global market and is expected to grow at 7.2% CAGR from 2024 – 2032.
 

• As pets are increasingly seen as family members, there is a growing demand for regular and thorough veterinary care, including routine check-ups and advanced treatments.
   
• The growth of pet insurance has made veterinary care more affordable, encouraging pet owners to use a wider range of services. As more pet owners buy insurance, they are more likely to seek comprehensive care for their pets, further boosting market demand.
   

North America veterinary services market accounted for USD 45.7 billion in 2023 and is projected to reach USD 84 billion by 2032.
 

• High pet ownership rates and growing awareness and spending on pet health are driving the North American market. This focus on pet health increases the demand for various veterinary services, from routine check-ups to emergency treatments.
   
• Advancements in veterinary technology and medicine, such as better diagnostic tools and new treatments, improve the quality of care and increase the demand for advanced services. The combination of rising pet ownership, higher health spending, and technological progress is driving market growth and shaping its future.
   

The U.S. veterinary services market in 2023 was valued at USD 43.3 billion and is anticipated to grow at 7.1% CAGR.
 

• The U.S. market is growing significantly due to more pet insurance coverage and higher demand for geriatric pet care. Pet insurance reduces the financial burden of treatments, allowing for more comprehensive and frequent care.
   
• As pets age, they need more frequent and specialized medical attention. Older pets often require ongoing management of health conditions like chronic diseases and mobility issues, increasing the demand for geriatric veterinary services.
   
• These factors together drive market growth by ensuring more pets receive timely and advanced medical care.
   

China veterinary services market is expected to showcase remarkable growth over the analysis period.
 

• China's large livestock sector, including pigs, poultry, and cattle, needs extensive veterinary care for disease management, productivity improvement, and food safety. This demand for advanced veterinary services drives market growth. As the livestock industry continues to expand, the need for specialized veterinary care will further increase.
   
• Government initiatives and regulations aimed at improving animal health and food safety standards also contribute to the rising demand for veterinary services in China.
   

India is expected to witness growth at considerable rate in global veterinary services market.
 

• The Indian government is enhancing animal health and welfare by funding veterinary infrastructure, disease control programs, and veterinary education. These efforts are expanding and improving veterinary services.
   
• Moreover, the adoption of advanced veterinary technologies, such as diagnostic tools and telemedicine, is improving the quality and accessibility of veterinary services in India, supporting market growth.
   

Veterinary Services Market Share

The market is dynamic and multifaceted, featuring a mix of large, established players and smaller, specialized providers. The market is characterized by ongoing consolidation, with mergers and acquisitions driving the expansion and integration of services among key players. Additionally, increasing investment in technology, such as advanced diagnostic tools and electronic health records, is a key competitive factor, enabling providers to offer cutting-edge care and improve operational efficiencies.
 

Veterinary Services Market Companies

Prominent players operating in the veterinary services industry include:

• Animal Medical Center of Plainfield
• Camp Bow Wow
• CVS Group plc.
• Ethos Veterinary Health LLC
• Frolick Dogs LLC
• Greencross Vets.
• IDEXX Laboratories Inc.
• Kathy Santo Dog Training
• Mars, Incorporated
• PetIQ, LLC
• Pets Yoga
• Pinogy Corporation & Memphis TN
• VetPartners
• Vetcor
• Zoetis Inc.
   

Veterinary Services Industry News:

• In April 2024, Chewy Inc. opened its first veterinary practice, Chewy Vet Care. This move allowed the company to enter a new market and increase revenue.
   

The veterinary services market research report includes an in-depth coverage of the industry with estimates & forecast in terms of revenue in USD Million from 2021 – 2032 for the following segments:

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Market, By Type

• General services
• Specialty services
• Emergency services

Market, By Service

• Diagnostic tests and imaging
• Physical health monitoring
• Surgery
• Vaccination
• Grooming
• Pet boarding and daycare
• Pet fitness
• Other services

Market, By Animal Type

• Companion animals
  • Dogs
  • Cats
  • Horses
  • Other companion animals 
• Livestock animals
  • Cattle
  • Swine
  • Poultry
  • Sheep & goats

The above information is provided for the following regions and countries:

• North America
  • U.S.
  • Canada 
• Europe
  • Germany
  • UK
  • France
  • Spain
  • Italy
  • Netherlands
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • Australia
  • South Korea
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East and Africa
  • South Africa
  • Saudi Arabia
  • UAE
  • Rest of Middle East and Africa