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What fueled the previous growth in the veterinary services market?

Over the past few years, the veterinary services market has seen substantial growth. It’s anticipated to rise from $156.4 billion in 2024 to $168.86 billion in 2025, showcasing a compound annual growth rate (CAGR) of 8.0%. This growth could be a result of various factors, such as increased pet ownership trends, treating pets more like family members, the effect of urbanization and population density, and the prevalence of insurance for companion animals.

What will be the veterinary services market size in the future?

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What main drivers are fueling expansion in the veterinary services market?

During the forecast period, global meat production is projected to increase, fueling the expansion of the veterinary services market. According to UK livestock statistics provided by the government in February 2024, meat production retained a consistent figure of 4.2 million tonnes in 2022, exhibiting a growth of 18% compared to ten years prior. Reflecting a significant surge in 2022, production of red meat, particularly mutton and lamb, saw the largest augmentation at 2.9%. Due to the escalading production of meat products facilitated by a growing population, feed additives in the livestock industry will face increased demand, thereby stimulating the veterinary services market.

What key areas define the segmentation of the global 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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Who are the dominant players expanding their reach 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

How are evolving market trends shaping veterinary services Strategies?

Prominent firms functioning in the domain of veterinary services encompass 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, and Vetnovo.

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Which regions are emerging as leaders in the veterinary services market?

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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