Global Veterinary Services Market

Global Veterinary Services Market Size, Share, Growth Analysis, By Service type(Diagnostic tests, imaging), By Animal type(Companion animals, production animals) - Industry Forecast 2024-2031

Report ID: SQMIG35I2225 | Region: Global | Published Date: July, 2036
Pages: 157 | Tables: 64 | Figures: 75

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FAQs

Veterinary Services Market size was valued at USD 23 billion in 2019 and is poised to grow from USD 24.97 billion in 2023 to USD 42.59 billion by 2031, growing at a CAGR of 6.9% in the forecast period (2024-2031).

Global veterinary services market is a highly competitive and also fragmented in developed and developing economies. Innovations, mergers, and acquisitions, collaborations and partnerships are adopted by these players to thrive in the competitive market. The prime market share is distributed among the few top players, and these players are shifting their focus on technological advancements, in order to gain the maximum market share. 'Mars Incorporated', 'Zoetis Inc.', 'IDEXX Laboratories, Inc.', 'Dechra Pharmaceuticals PLC', 'Virbac SA', 'Merck & Co., Inc.', 'Boehringer Ingelheim Animal Health GmbH', 'VCA Inc.', 'Elanco Animal Health Incorporated', 'Heska Corporation', 'Animalcare Group plc', 'Royal Canin', 'Ceva Santé Animale', 'Idexx Laboratories, Inc.', 'Nutreco N.V.', 'Patterson Companies, Inc.', 'Covetrus, Inc.', 'Kindred Biosciences, Inc.', 'Henry Schein Animal Health', 'Phibro Animal Health Corporation'

Growing pet health awareness and rising demand for effective medical care are expected to drive growth in the global veterinary services market during the forecast period. For example, the Federation of Indian Animal Protection Organization (FIAPO) has been working to ensure animal welfare in India by collaborating with several animal rights protection organizations and activists. Furthermore, the federation has addressed a wide range of animal welfare issues through public awareness campaigns and lobbying.

Availability of the advanced products or services by market players is expected to support in the growth of the global veterinary services market. In June 2022, PetSmart announced the release of PetSmart Veterinary Services (PVS) to come up with a complete solution for veterinarians to open their own franchised practice and connect pet parents with local, trusted veterinarians and more convenient vet hospital spot within PetSmart stores.

Global veterinary services market is dominated by North America and the region is expected to experience significant growth during the forecast period (2022 – 2028). U.S. has emerged as a significant contributor to market growth in North America because of high adoption of pets and expenditure for their proper health care. According to the National Pet Owners Survey 2021-2022, conducted by the American Pet Products Association (APPA), around 70% of United States households own a pet, which equates to 90.5 million homes, including 45.3 million cats and 69 million dogs.

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