Veterinary Services Market Analysis & Forecast: 2025-2032
Global veterinary services market is estimated to be valued at USD 127.00 Bn in 2025 and is expected to reach USD 209.47 Bn by 2032, exhibiting a compound annual growth rate (CAGR) of 7.4% from 2025 to 2032.
Discover market dynamics shaping the industry: Request sample copy
The veterinary services market is expected to witness significant growth over the forecast period. The factors driving the market growth include rising pet adoption across the world, increasing awareness about animal health, and growing per capita animal healthcare expenditure. Moreover, economic prosperity in developing regions and growing trend of pet humanization is further expected to propel the demand for veterinary services. However, high costs associated with veterinary services and lack of standardization in livestock healthcare sector in developing countries may hinder the market growth.
Increasing Demand for Veterinary Services
Increasing demand for veterinary services across the globe is expected to provide significant growth opportunities for players in the veterinary services market. For instance, in February 2021, DCC Animal Hospital expanded its footprint in India with the launch of multi-specialty animal hospitals across the country to offer cutting-edge medical technologies for four-legged friends.
Get actionable strategies to beat competition: Request sample copy
Increasing Partnerships among Key Market Players
Increasing partnerships among key market is expected to drive the market growth over the forecast period. For instance, on March 22, 2024, Modern Animal, a pioneering force in redefining veterinary care, announced a partnership with DOG PPL, LA's first canine social club. This collaboration aims to revolutionize the landscape of pet wellness and community engagement to inspire, educate, and support pet parents in their quest to provide healthy and enriching experiences for their pets.
Key Takeaways from Analyst
The global veterinary services market is poised to grow significantly over the coming years. The market is primarily driven by factors such as rising pet ownership, increased animal welfare spending, and growing consumption of animal-derived food products. The awareness regarding the benefits of veterinary healthcare is increasing globally which is translating into greater spending on animal health. Furthermore, advancements in veterinary medicine, diagnostics, and treatments are enabling the better management of zoonotic and emerging diseases in livestock.
Shortage of veterinarians in developed regions and lack of adequate infrastructure for veterinary care in emerging markets remains a challenge for market growth. High costs associated with veterinary care also restrain the mass adoption of veterinary healthcare services in developing countries.
North America dominated the global veterinary services market in the historical period due to rising companion animal healthcare expenditure in the U.S. and Canada. The Asia Pacific region is expected to witness the highest growth over the forecast period due to rapid urbanization, increasing pet ownership, and rising per capita meat consumption in India and China. The Middle East and Latin America also present lucrative opportunities for market players given the increasing livestock healthcare spending and growing advocacy for animal welfare in the regions.
Market Challenges: Lack of Awareness in Developing or Under-Developed Economies
Lack of awareness in developing or under-developed economies is expected to hinder the growth of the global veterinary services market. As cats and dogs are the two most common household companion animals that can be direct or indirect source of zoonotic infections.
Market Opportunities: Favorable Government Initiatives
Favorable initiatives by governments and market players to provide veterinary services are expected to drive the growth of the global veterinary services market. For instance, in May 2020, Ministry of Fisheries, Animal Husbandry & Dairying, government of India, launched mobile veterinary units (MVUs) in order to provide veterinary services at the farmers’ doorstep. The overall aim of the ‘Livestock Health & Disease Control programme’ of the government of India is to improve animal health.
Discover high revenue pocket segments and roadmap to it: Request sample copy
Insights, By Service Type: Diagnostic Advancements Fuel Growth in Veterinary Imaging and Testing
Service type segment is sub-segmented into diagnostic tests and imaging, physical health monitoring, preventative care, and others. The diagnostic tests and imaging sub-segment is estimated to hold 45.4% of the market share in 2025, due to ongoing developments in veterinary diagnostics. Advanced imaging technologies now allow veterinarians to more accurately diagnose conditions in pets, helping drive the overall demand. CT and MRI provide clearer, higher resolution images than traditional x-rays. This enhanced visualization enables vets to detect issues that may have otherwise gone unnoticed on standard radiographs. CT and MRI are particularly useful for evaluating tumors, neurological disorders, and bone fractures. Furthermore, veterinary practices are investing in digital radiography systems, expanding the scope of on-site diagnostic capabilities. Digital radiography streamlines the imaging workflow and produces sharper images than analog systems. Portable ultrasound units are also gaining popularity for point-of-care diagnostics during examinations. Growing diagnostic needs paired with ongoing innovation in veterinary imaging technologies and laboratory testing will sustain high demand within this segment in the coming years. Advanced diagnostics enable more accurate problem detection for improved pet health outcomes.
Insights, By Animal Type: Companion Animals Anchor Demand with Rising Pet Ownership
Animal type segment is sub-segmented into companion animal and farm animal. The companion animal sub-segment is estimated to hold 53.3% of the market share in 2025, due to surging pet ownership globally. People increasingly view pets as valued family members rather than just animals. This shifting perspective drives greater spending on healthcare to support companion animals' overall wellness and treatment of emergent medical issues. Dogs remain the most popular pet type worldwide. However, cat adoption is also on the rise as more people welcome feline companionship. Small mammals and other pocket pets gain followers as well. Reptiles and aquatic animals experience expanding interest too from hobbyists seeking exotic pets. Wealthier pet owners incline toward comprehensive medical insurance or direct high-cost surgical payments as newer therapies emerge. This monetizes expenditures that may have once gone uncompensated to vets. Overall, pet humanization bodes well for sustaining strong client investment in the health spans of canine, feline and other companion animal family members. Their healthcare needs anchor the veterinary services market.
Need a Different Region or Segment? Customize now
North America is the dominant region in the global veterinary services market and is estimated to hold 35.3% of the market share in 2025. The region has a highly developed veterinary infrastructure and services catering to the needs of a large companion and production animal populace. The U.S. accounts for the largest share within the North America veterinary services market with the highest number of veterinary practices, hospitals, and trained professionals. Animal health is considered as an important part of the overall healthcare domain in the region contributing notably to disease prevention, food safety, and public health. This has enabled sustained government support and funding for veterinary education, research and services over the years. The region is also a major trading hub for veterinary pharmaceuticals and vaccines supplying to other developed as well as developing economies worldwide.
Asia Pacific region has emerged as the fastest growing market for veterinary services globally in recent times. Rapidly developing veterinary infrastructure, rising animal husbandry and growing companion animal market are some of the chief growth drivers. Countries like China, India, and several Southeast Asian nations dominate the region's production animal market with a large bovine and small ruminant population. At the same time, increased pet adoption and rising per capita pet care expenditure are fueling market growth for companion animal veterinary services. The region has witnessed expansion of multinational as well as regional veterinary practices and hospitals focusing on production as well as companion animals. Asia Pacific is also an attractive market for foreign investments and international veterinary pharmaceutical companies due to its growing potential. Affordable pricing of veterinary services and products in certain countries is further propelling market growth in the region.
Veterinary Services Market Report Coverage
| Report Coverage | Details | ||
|---|---|---|---|
| Base Year: | 2024 | Market Size in 2025: | USD 127.00 Bn |
| Historical Data for: | 2020 To 2024 | Forecast Period: | 2025 To 2032 |
| Forecast Period 2025 to 2032 CAGR: | 7.4% | 2032 Value Projection: | USD 209.47 Bn |
| Geographies covered: |
|
||
| Segments covered: |
|
||
| Companies covered: |
CVS Group PLC, Greencross Vets, Ethos Veterinary Health, Idexx Laboratories Inc., Pets at Home Group PLC, CityVet Inc., FirstVet AB, Kremer Veterinary Services, Armor Animal Health (Animart), PetSmart LLC, Airpets International, Mars, Incorporated, Petiq LLC, and National Veterinary Care Ltd. |
||
| Growth Drivers: |
|
||
| Restraints & Challenges: |
|
||
Uncover macros and micros vetted on 75+ parameters: Get instant access to report
*Definition: Veterinary services mean a development used for the care and treatment of all animals where veterinary services mainly include outpatient care and minor medical procedures involving the hospitalization of less than four days. Today's veterinarians work hard to address the health and welfare needs of every species of animal. Veterinary medicine is a medical specialty that deals with the diagnosis, prevention, and treatment of diseases affecting the health of both domestic and wild animals and with the prevention of transmission of animal diseases to people.
Share
Share
About Author
Manisha Vibhute is a consultant with over 5 years of experience in market research and consulting. With a strong understanding of market dynamics, Manisha assists clients in developing effective market access strategies. She helps medical device companies navigate pricing, reimbursement, and regulatory pathways to ensure successful product launches.
Missing comfort of reading report in your local language? Find your preferred language :
Transform your Strategy with Exclusive Trending Reports :
Frequently Asked Questions
Credibility and Certifications
860519526
9001:2015
27001:2022
Need a Custom Report?
We can customize every report - free of charge - including purchasing stand-alone sections or country-level reports
Customize NowSelect a License Type
Credibility and Certifications
860519526
9001:2015
27001:2022
Joining thousands of companies around the world committed to making the Excellent Business Solutions.
View All Our Clients
US Reciprocal Tax Impact Analysis On Veterinary Services Market
Stay updated on tariff changes with expert insights and timely information
U.S.: 
U.K. : 
India :