Global veterinary services market is estimated to be valued at USD 136.65 Bn in 2026 and is expected to reach USD 228.19 Bn by 2033, exhibiting a compound annual growth rate (CAGR) of 7.6% from 2026 to 2033.
During the course of the forecast period, increased pet health awareness and need for efficient medical care are anticipated to propel market expansion for veterinary services globally. For instance, the Federation of Indian Animal Protection Organization (FIAPO) has collaborated with numerous local activists and animal rights organizations to promote animal welfare in India. Also, the federation has been advocating for a variety of animal welfare concerns through lobbying and awareness campaigns. Rising animal diseases and zoonotic diseases are anticipated to fuel market growth for veterinary services globally over the next years.
The Veterinary Services Market is characterized by increased pet ownership, higher expenditure on veterinary care, awareness about preventive care and improvement in veterinary diagnostics & tele-veterinary. Growth in the market is hindered by high costs involved in the treatment, lack of accessibility to veterinary services in rural areas and shortage of professional staff. There exist many opportunities including insurance for pets, tele-veterinary services, provision of specialty care for animals and building of veterinary infrastructure. Economic recessions, increase in operating cost, labor issues and stringent regulations are among the major threats facing the industry.
The Diagnosed Tests & Imaging is the prominent segment under the Service Type segment which is expected to dominate the Veterinary Services Market with 46.4% market share in 2026. Growing use of latest veterinary diagnostic techniques such as CT scan, MRI, Digital Radiography, and Portable Ultrasound has been driving the growth in this segment. Growing emphasis on timely diagnosis and better treatments through enhanced techniques have contributed towards the rising demand for diagnostics tests in veterinary practices.
The Companion Animals will constitute the maximum share of the market in terms of animal type with an estimated 54.3% market share in 2026. Factors like growing number of pets in households, trends related to humanization of pets and increased expenditure on preventive care, diagnostics procedures, and advanced surgery will drive the growth in this segment. With pets being increasingly treated as members of the household by their owners, the trend of seeking veterinary care has been increasing significantly across the globe.
Regionally, North America will be a leading market and will possess a market share of around 35.3% in 2026, due to developed veterinary facilities, higher expenditure on pet healthcare, supportive government policies, and wide availability of veterinary hospitals and clinics. On the other hand, the Asia Pacific region will emerge as the fastest growing region because of developed veterinary facilities, growing livestock numbers, increased pet adoption, growing disposable incomes, and increased awareness about animal healthcare.
Prominent Players in the Veterinary Services market include:
-
CVS Group PLC
Company Overview
- Headquarters: Diss, Norfolk, U.K.
- Establishment Year: 1999
- Employee Strength: Over 8,800 employees
- Leadership: Mr. Richard Fairman, Chief Executive Officer
- Core Services/Products: Veterinary practices, referral hospitals, diagnostic laboratories, pet crematoria, pet insurance, veterinary medicines, and online pet retail services.
SWOT Analysis
- Strengths
- Extensive network of veterinary practices and referral hospitals across the U.K. and Australia.
- Diversified service portfolio including diagnostics, insurance, laboratories, and pet aftercare services.
- Weaknesses
- Significant dependence on the U.K. veterinary services market.
- High labor costs due to reliance on veterinary professionals.
- Opportunities
- Expansion of telemedicine and digital veterinary services.
- Growing pet ownership and increasing expenditure on companion animal healthcare.
- Threats
- Ongoing shortage of veterinarians and veterinary nurses.
- Regulatory changes affecting veterinary practice ownership and operations.
-
IDEXX Laboratories Inc.
Company Overview
- Headquarters: Westbrook, Maine, U.S.
- Establishment Year: 1983
- Employee Strength: Approximately 11,000 employees
- Leadership: Mr. Jay Mazelsky, President and Chief Executive Officer
- Core Services/Products: Veterinary diagnostics, reference laboratory services, veterinary software, diagnostic instruments, water testing solutions, and livestock diagnostics.
SWOT Analysis
- Strengths
- Leading firm for veterinary diagnostics and possesses a sound business model.
- Broader spectrum of diagnostic products and tools.
- Weaknesses
- Sales performance is highly sensitive to companion animal healthcare spending.
- High prices may create hurdles in cost-sensitive markets.
- Opportunities
- Higher pet adoption rate throughout the globe.
- Market potential for veterinary healthcare products in developing nations.
- Threats
- Tougher competition from other firms in veterinary diagnostic services.
- Economic recession and decreased spending on pet health care.
-
Greencross Vets
Company Overview
- Headquarters: Woolloongabba, Queensland, Australia
- Establishment Year: 1994
- Employee Strength: Over 6,000 employees
- Leadership: Mr. Glen Richards, Founder; Executive leadership managed through Greencross Pet Wellness Company
- Core Services/Products: Veterinary services, specialty and emergency veterinary care, pet wellness services, pet retail, and grooming.
SWOT Analysis
- Strengths
- One of the leading veterinary networks in Australia.
- High level of integration between veterinary and pet services.
- Weaknesses
- Mainly based in the Australian market.
- High overhead costs for clinic development.
- Opportunities
- Increasing numbers of pet owners and expenditures on pet care products in Australia.
- Development of specialized and emergency veterinary services.
- Threats
- Labor shortages in the veterinary industry.
- Increasing labor costs and costs related to facilities.
-
Ethos Veterinary Health
Company Overview
- Headquarters: Woburn, Massachusetts, U.S.
- Establishment Year: 2014
- Employee Strength: Over 1,500 employees
- Leadership: Mr. Brian Cassell, Chief Executive Officer
- Core Services/Products: Specialty veterinary care, emergency services, oncology, surgery, neurology, cardiology, and advanced diagnostics.
SWOT Analysis
- Strengths
- Reputable for specialty and emergency care veterinary facilities.
- Numerous referral hospitals within North America.
- Weaknesses
- Dependent on specialty care services.
- Lack of an international presence.
- Opportunities
- Growing need for sophisticated veterinary treatments.
- Growth via acquisition and hospital partnerships.
- Threats
- Shortage of board-certified specialists in veterinary care.
- Intense competition from other specialty veterinary firms.
-
Pets at Home Group PLC
Company Overview
- Headquarters: Handforth, Cheshire, U.K.
- Establishment Year: 1991
- Employee Strength: Approximately 18,000 employees
- Leadership: Ms. Lyssa McGowan, Chief Executive Officer
- Core Services/Products: Veterinary services, pet retail, grooming, pet insurance, subscription pet care plans, and pet nutrition products.
SWOT Analysis
- Strengths
- Well-known brand in the U.K. pet care industry.
- Ecosystem that includes both retail and veterinary service sectors.
- Weaknesses
- Vulnerable to changes in consumer expenditure in the U.K.
- Highly dependent on retail outlets.
- Opportunities
- Development of pet healthcare subscription plans.
- Development of digital pet healthcare services.
