Veterinary Services Market Size, Share, Growth, and Industry Analysis, By Type (Veterinary Drug, Veterinary Devices), By Application (Veterinary Clinic, Veterinary Hospital), and Regional Insights and Forecast To 2033

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VETERINARY SERVICES MARKET OVERVIEW

The Veterinary Services Market stood at USD 88.77 billion in 2024 and is set to expand to USD 92.77 billion in 2025, eventually reaching USD 126.1 billion by 2033, driven by a CAGR of 4.5%.

The clinics offer, way from basic examination and vaccination, to little mouthful dental care and oral surgery and emergency care, provide all significant to pet and human health. Similar to the services, other animal companions, livestock, and exotic animals have good health and welfare. Technological developments like outcome-based diagnostic tools, distance-based telemedicine tools, user health information-based bio-passive implantable devices provide improved ability to better target and access services. Applications include disease prevention, production optimization in the animal kingdom, and early disease outbreak diagnosis, which allow both pet owners, livestock farmers, and wild life managers to protect their animals from disease.

Many services are offered by veterinary services including basic examination, vaccination, dental treatment, surgery, emergency treatment, all of which have a role to play in the health of owners and pets. These services protect the health and sanity of companion animals, livestock and wild animals. Developments in technology, including AI-enabled diagnostic tools, telemedicine systems and implantable wearables that monitor personal health data, expand the possibility to improve service precision and provision. Applications range from disease prevention, production optimisation in the animal kingdom, and early disease detection, supported by pet owners, livestock farmers and wildlife managers who can improve animal health and production.

COVID-19 IMPACT

"Pandemic Disrupting Veterinary Services Market Operations and Reducing Non-Emergency Visits"

The global COVID-19 pandemic has been unprecedented and staggering, with the market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden market growth reflected by the rise in CAGR is attributable to the market’s growth and demand returning to pre-pandemic levels.

The COVID-19 pandemic significantly impacted the veterinary services market. Initial lockdowns disrupted clinic operations and reduced non-emergency visits. Nevertheless, the pandemic-related surge in pet adoption created long-term demand for veterinary services. Telemedicine usage sped up, facilitating remote physical encounters and maintaining continuity of care. The livestock sector faced supply chain challenges, highlighting the need for veterinary support. Post-pandemic recovery has been strong, in part due to increased sensitivity to communicable diseases of animal origin, which is attracting investment toward preventive, diagnostic, and innovative technologies.

RUSSIA-UKRAINE WAR IMPACT

"Global Supply Chain Disruptions Increasing Costs and Limiting Availability of Veterinary Drugs and Equipment"

The Russia-Ukraine war has disrupted the veterinary services market, particularly in affected regions, through damaged infrastructure and economic instability, limiting access to veterinary care. Supply chain disruptions have led to higher cost and decreased accessibility of veterinarian drugs and devices around the world. The livestock sector in conflict zones has faced challenges like reduced productivity and disease outbreaks. Yet, increased consciousness of food security and animal health has driven investment in robust veterinary technologies and international aid and support has, in part, helped to combat the crisis.

ISRAEL-HAMAS WAR IMPACT

"Regional Supply Chain Interruptions Impacting Veterinary Medicines and Equipment Availability"

The Israel-Hamas conflict has created temporary disruptions of health care, market of veterinary, in the local affected areas due to damaged infrastructure and instability which impede access to treatment. Livestock rearing and the welfare of companion animals have been suffering as a consequence of displacement and lack of resources. Furthermore, regional supply chains of veterinary medicines and supplies have been disrupted. Although the primary goal of efforts on the international stage is to mitigate certain challenges, the follow up effects have profound implications for food security, zoonotic disease control, and the requirement for sustainable veterinary infrastructure.

LATEST TREND

"Integration of Artificial Intelligence Enhancing Diagnostics and Treatment in Veterinary Services"

A significant development in the veterinary service industry is the use of artificial intelligence (AI) in diagnosis and treatment. AI-based devices, functioning as image analyzers, can improve the sensitivity of diagnosis of diseases, for example, cancers, animal fracture. Also, telemedicine services are becoming increasingly popular, allowing the possibility of the remote treatment through and providing access to veterinary care. Wearable health monitoring devices for animals are still nascent in numbers, but are providing real-time animal health-related data to support the implementation of disease prevention strategies and treatment effectiveness, and to become the market-leading technology.

VETERINARY SERVICES MARKET SEGMENTATION

By Type

Based on Type, the global market can be categorized into Veterinary Drug, Veterinary Devices.

• Veterinary Drug: This segment includes pharmaceuticals, vaccines, and feed additives. Such products have been created for the purpose of disease prevention, treatment and nutritional support with regard to companion animals and livestock' health and welfare.

• Veterinary Devices: Including diagnostic devices, surgical instruments, and monitoring devices, this component enables accurate diagnosis, efficient treatment, and better animal care outcomes by leveraging advanced technology and new approaches.

By Application

Based on application, the global market can be categorized into Veterinary Clinic, Veterinary Hospital.

• Veterinary Clinic: For routine care, diagnostics, vaccinations, and very minor treatments for animals/livestock, clinics serve as a site of localized service with customized attention and reduced time for visits.

• Veterinary Hospital: Having the ability to conduct specialized care, surgery and emergency medical treatment, hospitals, with their advanced diagnostic and treatment facilities, are primarily on a larger scale to accommodate larger scale animal health emergencies.

MARKET DYNAMICS

Market dynamics include driving and restraining factors, opportunities and challenges stating the market conditions.

Driving Factors

"Increasing Awareness of Animal Health and Welfare Driving Growth in Veterinary Services Market"

Veterinary services market growth is a consequence of the growing consciousness of animal health and welfare. Increased pet ownership, especially within urban areas, has increased the need for high quality veterinary care. Moreover, the livestock animal farmers are looking for sophisticated veterinary care to improve productivity and food safety. Public health issues such as zoonosis diseases emphasize preventive medicine and diagnostics even more like as a consequence, market penetration is being accelerated by investments in veterinary technologies, ranging from telemedicine through to new treatment modalities.

"Technological Advancements in Veterinary Care Driving Market Growth"

Technological advances in veterinary medicine are also a contributing factor to market expansion. And advances in areas including AI-powered diagnostic devices for the animal healthcare sector, wearable health monitors for companion animals, and telemedicine portals are transforming the field. Such technologies allow faster, more precise diagnosis and treatment, and thus increase efficiency and access to veterinary services. Furthermore, telemedicine is reducing the spatial limitation by providing access to high quality service also to rural and poorly populated areas. With increased affordability and wider availability, these technologies lead to the overall market growth.

Restraining Factor

"High Cost of Advanced Veterinary Technologies Restraining Market Growth"

One of the main limiting factors of market expansion is the high price of the latest veterinary technologies and therapies. While innovations such as AI diagnostics and telemedicine offer significant benefits, the initial investment required for equipment, training, and infrastructure can be prohibitive for smaller clinics and hospitals, especially in emerging markets. Furthermore, the price of innovative special medications and procedures could restrict their availability for owners of companion animals and farmers who possess a limited budget, thereby slowing the expansion and interest in veterinary services in some areas.

Opportunity

"Increasing Demand for Preventive Care and Wellness Services Driving Veterinary Services Market Growth"

A market growth opportunity has been the rise in demand for preventive care and wellness services in animals. With the rise of the educated pet owner, the trend is toward routine care, vaccinations, and even early disease detection. This trend is fuelling the adoption of advanced diagnostic tools, telemedicine, and wearable health monitoring devices. In addition, offering a wider range of pet insurance coverage offers a chance to reduce the cost of veterinary services, thus promoting regular care, and increase the market appetite.

Challenge

"Shortage of Skilled Veterinary Professionals Hindering Market Growth"

A significant challenge affecting market growth is the shortage of skilled veterinary professionals, particularly in rural or underserved areas. Increased requirements on veterinary services, driven by pet and livestock keeping, has put a limit on the capacity of current veterinarians. This shortage results in longer waiting times, accessibility limitations, and strain on the health care systems. Additionally, training and retaining skilled professionals require significant investment, which can limit service expansion and hinder the efficient delivery of advanced veterinary care, slowing overall market growth.

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VETERINARY SERVICES MARKET REGIONAL INSIGHTS

• North America

North America is a key market for veterinary services, driven by a high level of pet ownership, advanced healthcare infrastructure, and rising awareness of animal welfare. Demand for veterinary services is strongest in the United States because of the continual boom in the number of owned companion animals and the continual use of novel veterinary technologies such as telemedicine, and artificial intelligence-based diagnostics. Furthermore, this area's commitment to both food security and animal livestock health continues to provide a boost to the need for both these veterinary services, in the companion animal and in an animal livestock context.

• Europe

Europe is a significant market for veterinary services, driven by strong pet ownership, livestock farming, and a focus on animal welfare. With increasing awareness for preventive medicine efforts made in conjunction with advances in veterinary technology, the need for more specialized and readily available services is apparent. The domain's focus on food safety and disease prevention, especially in the agricultural area, contributes substantially to veterinary services market share expansion. Furthermore, the growing subscription rate for pet insurance and the development of telemedicine which facilitate access to veterinary care at a lower cost are contributing to an increased availability of veterinary care throughout Europe.

• Asia

Asia is a developing market for veterinary care due to rapid urbanisation, and uptake in pet ownership, and improved understanding of animal health. The expanding middle class and disposable income are pushing the demand for sophisticated veterinary medicine, such as diagnostics and/or preventive care. In China and India livestock farming is a major factor, creating demand for veterinary services in order to maintain animal welfare and food safety. Additionally, technology developments, such as telemedicine wearable health monitors, are advancing at the same rate, and therefore the market is expanding.

KEY INDUSTRY PLAYERS

"Key Industry Players Shaping the Market Through Innovation and Market Expansion"

The veterinary services market is significantly influenced by key industry players that play a pivotal role in driving market dynamics and shaping consumer preferences. These key players possess extensive retail networks and online platforms, providing consumers with easy access to a wide variety of wardrobe options. Their strong global presence and brand recognition have contributed to increased consumer trust and loyalty, driving product adoption. Moreover, these industry giants continually invest in research and development, introducing innovative designs, materials, and smart features in cloth wardrobes, catering to evolving consumer needs and preferences. The collective efforts of these major players significantly impact the competitive landscape and future trajectory of the market.

Major stakeholders in the veterinary services market consist of Zoetis, Mars Petcare, and VCA Inc. These are companies seeking to grow the size of their portfolios by acquiring and partnering in order to expand service offerings. For example, Zoetis continues to develop innovative veterinary drugs and vaccines, while Mars Petcare invests in digital health technologies like telemedicine platforms. VCA Inc. is now extending its veterinary hospital network in order to improve access and ensure a large customer base. These companies are also putting research and development at the top to keep up with new animal health trends and technologies.

List of Veterinary Services Companies

• Abaxis (U.S.)
• VCA (U.S.)
• Benfield Pet Hospital (U.S.)
• Greencross Vets (Australia)
• CVS Group (UK)
• The Bergh Memorial Animal Hospital (U.S.)
• The Animal Medical Center (U.S.)

KEY INDUSTRY DEVELOPMENTS

July 2022: Zoetis declared the purchase of Jorgensen Labs, a premier veterinary instrument supplier, in order to cover and enhance the categories of diagnostic and surgical procedures. With this acquisition, Zoetis can expand its portfolio within the veterinary instrument industry, with a perspective to enhance animal welfare with sophisticated tools and technologies. The shift enhances Zoetis' position in the global veterinary market and supports the company's philosophy to increase integrated solution in animal health encompassing diagnostics, therapies, and monitoring devices.

REPORT COVERAGE

The study encompasses a comprehensive SWOT analysis and provides insights into future developments within the market. It examines various factors that contribute to the growth of the market, exploring a wide range of market categories and potential applications that may impact its trajectory in the coming years. The analysis takes into account both current trends and historical turning points, providing a holistic understanding of the market's components and identifying potential areas for growth.

In this report, a detailed study of the veterinary services market is presented, including segmentation of the market according to the type (veterinary drugs and devices) and to the application (veterinary clinics and hospitals). It explains the driving and limiting factors affecting market growth, including technological developments, growing pet ownership and burdens such as high service price. Regional and local dynamics are also considered in the report, particularly in North America, Europe, and Asia. It provides data on industry participants, how they are defending market share, and recent market trends from 2020 to 2024.