The Business Research Company’s report on the Veterinary Services Market provides insights into the global market size, growth rate, regional distribution, competitive landscape, key segments, emerging trends, and strategic opportunities.
How are market drivers shaping the future growth trajectory of the veterinary services industry?
Global meat production is expected to rise in the forecast period, supporting the growth of the veterinary services market. For instance, in February 2024, according to the government of UK Livestock statistics, total meat production in 2022 remained at 4.2 million tonnes, 18% higher than a decade earlier. Red meat production increased in 2022, with mutton and lamb production showing the largest increase (2.9%). The rising production of meat products supported by the growing population will increase the demand for feed additives in the livestock industry, driving the veterinary services market.
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What is the estimated market size of the veterinary services sector by 2029, based on current forecasts?
The veterinary services market size has grown strongly in recent years. It will grow from $156.4 billion in 2024 to $168.86 billion in 2025 at a compound annual growth rate (CAGR) of 8.0%. The growth in the historic period can be attributed to the growth of pet ownership trends, humanization of pets, urbanization and population density, and companion animal insurance.
The veterinary services market size is expected to see strong growth in the next few years. It will grow to $223.15 billion in 2029 at a compound annual growth rate (CAGR) of 7.2%. The growth in the forecast period can be attributed to preventive and wellness services, specialized veterinary care, one health approach, e-commerce in pet pharmaceuticals, and global pandemic impact. Major trends in the forecast period include technological innovations, telemedicine and remote consultations, advancements in veterinary medicine, telehealth for pets, and a focus on preventive care.
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#Who are the top players in the veterinary services market?
Major companies operating in the veterinary services market include Mars Inc., Zoetis Inc., VCA Inc., IDEXX Laboratories Inc., Qiagen N.V., Pets at Home Group PLC, BluePearl Pet Hospital, Dechra Pharmaceuticals plc, PetIQ LLC, CVS Group Plc, Banfield Pet Hospital, Neogen Corporation, Vetpartners, Greencross Limited, National Veterinary Associates Inc., Pathway Vet Alliance LLC, Ethos Veterinary Health LLC, Southern Veterinary Partners, VetCor, VetStrategy, National Veterinary Care Ltd., VetnCare, PetVet Care Centers, Kremer Veterinary Services, Armor Animal Health, Addison Biological Lab Inc., FirstVet AB, Vetnovo
#What are the major trends in the veterinary services market?
Telemedicine is gaining traction as this technology enables pet owners to get access to quality care from remote locations. Telemedicine is a subset of telehealth that includes remote clinical and non-clinical elements of the healthcare system. It refers to the direct communication between veterinarians and clients via communication systems such as phones, mail, and video conferencing technologies. This technology also helps in improving existing veterinarian-client-patient relationships. Busy lifestyles and consumers’ preference for personalized services are driving the demand for telemedicine services. For instance, some of the veterinary clinics offering telemedicine include Televet, Fuzzy Pet Health, and Healthpets.
Which geography holds the highest veterinary services market share?
North America was the largest region in the veterinary services market in 2024. Asia-Pacific was the second-largest region in the veterinary services market. The regions covered in the veterinary services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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How do different segments contribute to the overall expansion of the veterinary services market?
The veterinary services market covered in this report is segmented –
1) By Type: Animal Hospitals And Veterinary Clinics, Veterinary Laboratory Testing Services
2) By Type Of Service: Onsite, Offsite
3) By Type Of Animal: Livestock, Companion Animals
4) By Type Of Expenditure: Public, Private
Subsegments:
1) By Animal Hospitals And Veterinary Clinics: General Veterinary Practices, Specialty Veterinary Hospitals, Mobile Veterinary Services, Referral Veterinary Clinics
2) By Veterinary Laboratory Testing Services: Diagnostic Testing, Pathology Services, Microbiology Services, Genetic Testing Services
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What defines the structure and scope of the veterinary services market?
Veterinary services refer to a type of service that is engaged in providing veterinary services to pets, farm animals, and animals kept in zoos and wildlife parks, including animal hospitals and veterinary clinics that provide consultation services, treatment, and curative medicines to animals to improve their health and life cycles.
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