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.
Authors:
Mariam Faizullabhoy, Gauri Wani
Frequently Asked Questions (FAQ) :
The veterinary services market reached USD 110.8 billion and is expected to grow at 7.3% CAGR during 2024-2032, driven by the rise in global pet ownership.
The general segment accounted for USD 46.9 billion in 2023 and will grow rapidly through 2032, as they ensure a large and loyal customer base.
North America veterinary services market accounted for USD 45.7 billion in 2023 and is projected to reach USD 84 billion by 2032, driven by high pet ownership rates and growing awareness and spending on pet health.
Ethos Veterinary Health LLC, Frolick Dogs LLC, Greencross Vets, IDEXX Laboratories Inc, Kathy Santo Dog Training, Mars, and Incorporated among others.