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Veterinary Services Market by Type (General services, Specialty services, Emergency services), by Service (Diagnostic tests and imaging, Physical health monitoring, Surgery, Vaccination, Grooming, Pet boarding and daycare, Pet fitness, Other services), by Animal Type (Companion animals, Livestock animals), by North America (U.S., Canada), by Europe (Germany, UK, France, Spain, Italy, Netherlands, Rest of Europe), by Asia Pacific (China, Japan, India, Australia, South Korea, Rest of Asia Pacific), by Latin America (Brazil, Mexico, Rest of Latin America), by Middle East and Africa (South Africa, Saudi Arabia, UAE, Rest of Middle East and Africa) Forecast 2025-2033
The size of the Veterinary Services Market was valued at USD 110.8 Billion in 2023 and is projected to reach USD 181.44 Billion by 2032, with an expected CAGR of 7.3% during the forecast period. The Veterinary Services Market provides medical care for animals, such as pets, farm animals, and wildlife. This market covers a broad array of services such as diagnostics, surgeries, preventative care, vaccines, and emergency treatments provided by vets, clinics, and animal hospitals. The need for veterinary services is increasing due to the rise in pet ownership globally, greater recognition of animal health, and the growing demand for animal healthcare in the livestock industry. Moreover, the market is experiencing growth thanks to innovations in veterinary medicine like telemedicine, tailored treatments, and AI utilization in diagnostics. Due to increasing worries about zoonotic diseases and the crucial role of animal health in ensuring food security, the veterinary services market is undergoing substantial growth. The demand for veterinary services is projected to rise as the pet population grows and the livestock sector works towards enhancing productivity and animal well-being. Additionally, an increase in disposable incomes and a transition towards better quality care for pets and livestock are also contributing to the growth.
The market landscape is consolidated, with a few key players accounting for a substantial share. These companies prioritize research and development to advance their service offerings and secure market leadership. Innovation is an inherent characteristic of the industry, characterized by ongoing breakthroughs in diagnostic methods, surgical procedures, and pet care solutions. Stringent regulations ensure the well-being and ethical treatment of animals within the industry.
The surge in pet insurance policies has fostered greater accessibility to veterinary services for pet owners. Telemedicine has emerged as a growing trend, facilitating remote consultations and timely medical guidance for pets. The burgeoning demand for specialized veterinary services, such as oncology, cardiology, and dermatology, continues to redefine the market landscape.
North America, particularly the U.S., accounts for a significant share of the Veterinary Services Market due to a large pet population, high adoption rates, and advanced veterinary infrastructure. Companion animals, such as dogs and cats, dominate the market, although livestock animal services are also growing in importance. In terms of services, diagnostic tests and imaging, physical health monitoring, and vaccination are the most sought-after services.
This report provides a comprehensive analysis of the Veterinary Services Market, including market size, market share, and growth prospects. It covers market trends, drivers, challenges, and the competitive landscape. The report also includes regional insights and key developments in the industry.
The market is poised for continued expansion, projected to reach a staggering 166.9 Billion by 2028. Companion animal services hold immense growth potential, fueled by the rising popularity of pet ownership and growing awareness of pet welfare. Livestock animal services are also expected to experience growth, driven by the demand for safe and wholesome food products.
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Animal Type:
In April 2024, Chewy Inc. opened its first veterinary practice, Chewy Vet Care, expanding its offerings into veterinary services.
Aspects | Details |
---|---|
Study Period | 2019-2033 |
Base Year | 2024 |
Estimated Year | 2025 |
Forecast Period | 2025-2033 |
Historical Period | 2019-2024 |
Growth Rate | CAGR of 7.3% from 2019-2033 |
Segmentation |
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Note* : In applicable scenarios
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