Table of Contents
Overview
New York, NY – July 24, 2025 : The global veterinary services market is poised for substantial growth. It is projected to reach approximately US$ 264.8 billion by 2034, rising from US$ 128.5 billion in 2024. This reflects a strong CAGR of 7.5% between 2025 and 2034. The market expansion is driven by several factors. Among them, increasing demand for pet healthcare services ranks highest. As pet ownership grows, so does the need for high-quality veterinary care. People are investing more in services that promote long-term animal health.
One of the major drivers of this market is the rise in pet humanization. More individuals now treat pets as family members. This emotional bond has led to a surge in demand for services like routine checkups, vaccinations, and emergency treatments. Preventive healthcare is also gaining popularity, as early detection of diseases helps reduce long-term costs. Pet parents are willing to spend more on animal health, creating a steady stream of revenue for veterinary clinics and hospitals.
Technological advancements are transforming how veterinary services are delivered. Tools like diagnostic imaging, telemedicine, and minimally invasive surgeries improve treatment outcomes. These technologies not only enhance accuracy but also reduce recovery time for animals. As a result, both pet owners and service providers benefit. The adoption of such innovations supports market growth. Clinics that invest in new tools gain a competitive edge by offering modern and efficient care. This trend is expected to accelerate in the coming years.
Animal healthcare needs are also rising in the livestock sector. Proper care of farm animals leads to better productivity and food safety. Many countries now recognize the economic importance of maintaining animal health in agriculture. Government support and regulations around animal welfare are expanding. This has prompted livestock farmers to seek professional veterinary help. Consequently, the demand for large animal services is increasing. This segment will likely contribute significantly to overall market revenue in the next decade.
Another key trend in this market is industry consolidation. In February 2023, the veterinary practice of Dr. Paulus in Germany joined the IVCEvidensiaDACH Group. This move expanded the group’s regional presence and service portfolio. Such strategic partnerships allow providers to reach more customers and deliver diverse treatments. Consolidation improves operational efficiency and customer trust. As companies merge or collaborate, they strengthen their competitive position. This shift is expected to shape the future of the veterinary services landscape globally.
Key Takeaways
- In 2024, the veterinary services market generated around US$ 128.5 billion and is projected to hit US$ 264.8 billion by 2034.
- The market is growing at a steady CAGR of 7.5%, driven by rising pet ownership and expanding demand for animal healthcare services.
- Companion animals accounted for the majority share in 2024, making up 70.3% of the market under the animal type segment.
- The market is divided into medical and non-medical services, with non-medical services holding a 54.2% market share in 2024.
- North America led the global market in 2024, capturing a 38.2% share due to advanced veterinary infrastructure and high pet care spending.
Regional Analysis
North America leads the global veterinary services market, holding the highest revenue share of 38.2%. A key driver is the rising pet ownership in the region, especially in the U.S. The U.S. market alone was valued at US$42.21 billion in 2024. Technological advancements in diagnostics and treatments also boost demand. Additionally, consolidation of veterinary practices has fueled growth. In November 2024, Southern Veterinary Partners merged with Mission Veterinary Partners, creating a US$8.6 billion group. These developments have strengthened North America’s market position in 2024.
Asia Pacific is projected to grow at the highest CAGR during the forecast period. This growth is due to increasing awareness of animal health and rising pet ownership. In 2021, the regional market earned US$14.25 billion and is forecast to reach US$23.51 billion by 2028. Government support is helping too. India’s Livestock Health and Disease Control Schemes, launched in 2022 with a US$63 million budget, aim to improve animal healthcare. Rising food-borne infections and zoonotic diseases also drive the demand for veterinary services.
Segmentation Analysis
Animal Type Analysis
In 2024, the companion animals segment dominated the veterinary services market with a 70.3% share. This was mainly due to rising pet ownership and the growing focus on pet well-being. Dogs and cats are increasingly viewed as family members, which boosts the demand for healthcare services like routine exams and emergency care. Higher disposable incomes and greater awareness of pet health also contribute to market growth. Additionally, veterinary advancements and growing use of pet insurance are expected to support continued growth in this segment.
Service Type Analysis
Non-medical services accounted for 54.2% of the market share in 2024. These include grooming, boarding, and behavior training, which are becoming more popular as pets are treated like family. The demand for wellness and daycare services is increasing, especially in urban areas. Mobile grooming and pet sitting are also gaining traction due to busy lifestyles. As more owners invest in enhancing their pets’ quality of life, the non-medical services segment is likely to see continued expansion in the coming years.
Key Market Segments
By Animal Type
- Companion Animals
- Dogs
- Cats
- Horses
- Others
- Production Animals
- Cattle
- Poultry
- Swine
- Others
By Service Type
- Medical Services
- Diagnosis
- In-vitro Diagnosis
- In-vivo Diagnosis
- Preventative Care
- Treatment
- Consultation
- Surgery
- Others
- Diagnosis
- Non-medical Services
- Pet Services
- Livestock Services
Key Players Analysis
Key players in the veterinary services market are focusing on expanding their service offerings and adopting advanced technologies. Many are investing in digital health tools such as telemedicine and diagnostic software to improve treatment outcomes and convenience. Strategic partnerships with pet insurance providers and animal health organizations are helping companies widen their customer base. They are also targeting emerging markets, where rising pet ownership and increasing disposable incomes are driving demand. Educational campaigns are being used to boost awareness, promote preventive care, and build trust among pet owners.
Mars Petcare, based in McLean, Virginia, is a global leader in the pet health and nutrition space. The company operates the Banfield Pet Hospital network, providing a range of preventive and emergency veterinary services. Mars Petcare is investing in digital platforms to enhance pet care access and efficiency. It strengthens its global reach through acquisitions and partnerships with local veterinary practices. With a strong focus on innovation and customer engagement, Mars Petcare is steadily expanding its footprint in the global veterinary services market.
Top Key Players in the Veterinary Services Market
- PetSmart LLC
- Petco
- Mars Inc
- IVC Evidensia
- Greencross Vets
- Fetch! Pet Care
- CVS Group Plc
- Airpets International
Emerging Trends
1. Rise in Pet Humanization
Today, many people see their pets as part of the family. This emotional bond has changed how they care for animals. Pet owners are now spending more on high-quality healthcare services. This includes preventive care, wellness checkups, and even luxury products for pets. Dogs and cats often receive the same level of attention as children in the household. As a result, veterinary clinics are seeing more demand for advanced treatments and personalized care. The market is growing as owners want the best for their furry companions. This shift is shaping the future of the veterinary services industry.
2. Growth of Telemedicine for Pets
Veterinary care is going digital. More pet owners are using video calls and mobile apps to talk to vets. This is known as telemedicine. It allows pet owners to get advice quickly and without traveling. This trend is especially helpful in rural or remote areas. It makes expert care easier to access. Many clinics now offer virtual checkups, follow-up visits, and even emergency advice online. Pet telehealth is becoming a common and trusted way to keep animals healthy. It also saves time and reduces the stress of clinic visits, especially for nervous pets.
3. Focus on Preventive and Wellness Care
More pet owners are choosing prevention over treatment. They take their pets for regular checkups and vaccinations. Dental cleaning and routine exams are also becoming more common. This shift helps detect health problems early and keeps animals healthy for longer. Preventive care reduces the risk of serious diseases and cuts down long-term costs. Pet wellness plans are also growing in popularity. These plans offer bundled services and encourage regular visits. Clinics are promoting wellness packages to build trust with pet owners and ensure pets live longer, healthier lives. It’s a win for both pets and their families.
4. Integration of Advanced Diagnostic Tools
Veterinary clinics are now using the latest diagnostic tools. These include digital X-rays, ultrasounds, and in-house lab machines. These tools help find health issues faster and with greater accuracy. Vets can now spot diseases early and create better treatment plans. Advanced diagnostics improve the chances of a full recovery for pets. This technology also helps track progress over time. It’s especially useful for chronic conditions and follow-ups. As pet care becomes more high-tech, clinics are investing in smart equipment. These upgrades help deliver better results and give pet owners more confidence in veterinary services.
5. Increasing Demand for Specialized Veterinary Services
Pet owners are now looking for specialized care. This includes services like animal dermatology, dentistry, surgery, and even physiotherapy. Pets with chronic or complex issues need expert attention. Vets who specialize in certain areas are becoming more in demand. Some clinics now offer full-service departments or refer cases to specialists. This trend is driven by the desire to give pets the same quality of care as humans. As pet health needs become more complex, the veterinary field is expanding to include niche expertise. Specialized care is raising the standard of treatment in animal health.
6. Expansion of Pet Insurance
Pet insurance is becoming more common. More owners are buying plans to cover vet costs. This helps them afford expensive treatments without financial stress. Insurance also encourages people to take their pets for regular checkups. Some plans cover dental cleanings, surgeries, and even emergency care. As medical options grow, so does the cost. Insurance helps manage these expenses. It gives pet owners peace of mind. Clinics also benefit from timely payments through insurance providers. This trend supports better health outcomes and regular care. As awareness grows, more pet owners are expected to buy coverage.
Use Cases
1. Routine Health Check-Ups
Regular health check-ups are essential for pets. Veterinary clinics offer exams to monitor a pet’s overall health. These visits help detect problems early before they become serious. Vets check weight, heart rate, and look for any signs of illness. They also update vaccinations during these check-ups. This helps protect pets from common diseases. Both young and older animals benefit from routine visits. Early detection saves money and improves outcomes. These appointments also give pet owners a chance to ask questions. A strong relationship between the vet and pet owner improves care. Overall, regular exams are a key part of a healthy life for pets.
2. Emergency and Critical Care
Emergency services are vital when pets face accidents or sudden illness. Clinics with 24/7 availability provide urgent care during these times. Common emergencies include poisoning, trauma, or breathing problems. Some pets may suffer from heatstroke or sudden collapse. Vets use advanced tools to stabilize pets quickly. Fast action can save lives. These clinics often have critical care units with trained staff. Pet owners rely on these services in stressful situations. They bring peace of mind, knowing help is always available. Emergency care is an important part of the veterinary services market, especially in urban areas where demand is high.
3. Surgical Procedures
Veterinarians perform many types of surgeries. Common ones include spaying and neutering. These help control the pet population and improve behavior. More advanced surgeries are also offered. These include tumor removal, broken bone repair, or eye surgery. Each procedure is done with care and precision. Clinics use modern equipment to ensure safety. Pain management is a top priority before, during, and after surgery. Some pets need surgery to live a longer, healthier life. Vets also give recovery plans to help pets heal well. Surgical services show how advanced and specialized veterinary care has become today.
4. Dental Care for Pets
Dental health is very important for animals. Poor dental care can lead to infections and other problems. Vets offer cleanings, tooth removal, and gum treatment. These help prevent serious diseases later. Bad breath, swollen gums, or loss of appetite are signs of dental issues. Regular check-ups can catch these early. Clinics use safe tools and gentle methods. Dental services are now part of routine pet care. Many clinics even offer special dental plans. Good oral health keeps pets happier and healthier. Pet owners are becoming more aware of this need. That’s why demand for dental care is growing.
5. Treatment of Chronic Conditions
Many pets suffer from long-term health problems. Common issues include diabetes, arthritis, skin allergies, and kidney disease. These need regular treatment and monitoring. Vets create care plans to manage these conditions. They may include medications, diet changes, or exercise routines. Follow-up visits are important to track progress. Pet owners work closely with their vets to manage symptoms. This helps improve the pet’s quality of life. Chronic condition management has become a big part of veterinary care. With better tools and knowledge, pets live longer. These services show how veterinary care now focuses on long-term wellness.
6. Behavioral Consultation
Pets sometimes show difficult behaviors. These can include aggression, fear, or separation anxiety. Vets and behavior specialists offer help through consultations. They observe the pet and suggest changes at home. They may recommend training, routines, or calming aids. Behavior issues affect a pet’s quality of life. They also strain the bond between pet and owner. With expert help, many of these issues can be managed. Some clinics even offer group classes for training. These services are in demand as more people seek well-behaved pets. Behavioral care is now seen as part of overall pet health.
Conclusion
In conclusion, the veterinary services market is on a strong growth path, driven by rising pet ownership, better awareness of animal health, and new technologies. As pets become part of the family, owners are spending more on preventive care, advanced treatments, and wellness services. The growing need for livestock health management also supports market expansion. Innovations like telemedicine and diagnostic tools are changing how care is delivered. At the same time, industry consolidation and pet insurance are making services more accessible. With strong demand across both developed and emerging regions, the future of veterinary care looks promising. Clinics that adapt to these trends will continue to grow and meet changing customer needs.
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