Veterinary Services Market By Animal Type (Companion Animals (Dogs, Cats, Horses, and Others), Production Animals (Cattle, Poultry, Swine, and Others)), By Service Type (Medical Services (Diagnosis (In-vitro Diagnosis and In-vivo Diagnosis), Preventative Care, Treatment (Consultation, Surgery, and Others)), Non-medical Services (Pet Services and Livestock Services)), Region and Companies – Industry Segment Outlook, Market Assessment, Competition Scenario, Trends and Forecast 2025-2034

Report Overview

The Veterinary Services Market Size is expected to be worth around US$ 264.8 billion by 2034 from US$ 128.5 billion in 2024, growing at a CAGR of 7.5% during the forecast period 2025 to 2034.

Increasing pet ownership and growing awareness about animal health are major drivers of the veterinary services market. As more people treat pets as family members, the demand for veterinary care, including routine checkups, preventive treatments, and emergency services, has surged. Advances in veterinary technology, such as diagnostic imaging, telemedicine, and minimally invasive surgeries, also contribute to market growth by improving treatment accuracy and patient outcomes.

Additionally, the growing focus on animal welfare and the increasing recognition of the importance of animal healthcare in livestock farming create further opportunities for expansion. In February 2023, the veterinary practice of Dr. Paulus, based in Saarbrücken, Germany, joined forces with the IVCEvidensiaDACH Group, strengthening the company’s footprint and broadening its customer reach across the region. These strategic collaborations reflect the trend of consolidation in the veterinary services market, enabling companies to offer a wider range of services and better serve the growing number of pets and animals in need of care.

Key Takeaways

• In 2023, the market for Veterinary Services generated a revenue of US$ 128.5 billion, with a CAGR of 7.5%, and is expected to reach US$ 264.8 billion by the year 2033.
• The animal type segment is divided into companion animals and production animals, with companion animals taking the lead in 2023 with a market share of 70.3%.
• Considering service type, the market is divided into medical services and non-medical services. Among these, non-medical services held a significant share of 54.2%.
• North America led the market by securing a market share of 38.2% in 2023.

Animal Type Analysis

The companion animals segment led in 2023, claiming a market share of 70.3% owing to the increasing pet ownership and the growing focus on the well-being of pets. Companion animals, particularly dogs and cats, are now considered integral members of many households, which has led to a rise in the demand for healthcare services such as routine check-ups, vaccinations, and emergency care.

The growing awareness of pet health, coupled with increased disposable income and the humanization of pets, is likely to drive the demand for veterinary services for companion animals. Additionally, advancements in veterinary medicine, including specialized treatments and pet insurance, are anticipated to further fuel the growth of this segment, as owners seek high-quality healthcare solutions for their pets.

Service Type Analysis

The non-medical services held a significant share of 54.2% as pet owners seek comprehensive care for their animals beyond just medical treatments. Non-medical services such as grooming, boarding, and behavioral training are expected to become increasingly popular as pet ownership grows. As pets are treated more like family members, their owners are more likely to invest in services that improve their pets’ quality of life.

The increasing demand for pet grooming, wellness services, and pet daycare facilities is anticipated to contribute to the expansion of this segment. Furthermore, as urbanization increases, the need for these non-medical services, including convenience-driven offerings such as mobile grooming and pet sitting, is expected to drive further growth in the non-medical services segment.

Key Market Segments

By Animal Type

• Companion Animals
  • Dogs
  • Cats
  • Horses
  • Others
• Production Animals
  • Cattle
  • Poultry
  • Swine
  • Others

By Service Type

• Medical Services
  • Diagnosis
    • In-vitro Diagnosis
    • In-vivo Diagnosis
  • Preventative Care
  • Treatment
    • Consultation
    • Surgery
    • Others
• Non-medical Services
  • Pet Services
  • Livestock Services

Drivers

Increasing Pet Ownership and Humanization of Pets is Driving the Market

The growing trend of pet humanization and increased pet ownership significantly drives the veterinary services market. A survey conducted by the American Pet Products Association revealed that approximately 96% of adults believe an attractive smile is an important social asset, highlighting the widespread desire for cosmetic dental procedures. This heightened interest has led to a surge in demand for veterinary services. In 2023, the global veterinary services market was valued at approximately US$7.02 billion, reflecting the robust consumer interest in dental aesthetics.

The availability of a diverse range of whitening products, from over-the-counter options like toothpaste and strips to professional treatments, caters to varying consumer preferences and budgets, further fueling market growth. This trend underscores the importance of aesthetic enhancements in modern society and their impact on the dental care industry. As more individuals seek ways to improve their appearance, the demand for teeth whitening solutions is expected to continue rising. The continued interest in self-care and cosmetic improvement will further drive the market’s expansion.

Restraints

Health Concerns and Potential Side Effects are Restraining the Market

Despite the popularity of teeth whitening, concerns regarding health implications and potential side effects pose challenges to market growth. Some consumers experience tooth sensitivity, gum irritation, and enamel damage as adverse reactions to whitening agents. The American Dental Association has highlighted the importance of consulting with dental professionals before undergoing whitening treatments to mitigate these risks. These health concerns can lead to hesitancy among consumers, limiting the widespread adoption of whitening products and services.

Additionally, the availability of numerous over-the-counter whitening products with varying efficacy and safety profiles adds to the complexity, making it difficult for consumers to make informed choices. Addressing these issues requires increased consumer education on safe whitening practices and the development of products with improved safety profiles, aiming to alleviate concerns and promote market growth. Without solutions to these health-related challenges, the potential for broader market adoption may remain restricted. A more informed consumer base and better regulation of whitening products could help reduce these barriers.

Opportunities

Technological Advancements in Whitening Products are Creating Growth Opportunities

Advancements in whitening technology present significant growth opportunities in the market. The development of light-activated whitening devices, utilizing Light-Emitting Diode (LED) technology, has enhanced the speed and effectiveness of whitening treatments. These devices offer expedited and noticeable results compared to traditional methods, attracting consumers seeking efficient solutions.

Additionally, the integration of Augmented Reality (AR) in teeth whitening applications allows users to visualize potential outcomes, enhancing engagement and satisfaction. These technological innovations not only improve the efficacy of whitening treatments but also enhance the overall consumer experience, driving market expansion.

As whitening devices become more sophisticated, consumers can expect better results with reduced treatment time and enhanced safety. The market for light whitening devices is experiencing substantial growth, with projections indicating a significant increase in market share during the forecast period. These innovations are expected to significantly expand the range of teeth whitening options available to consumers.

Impact of Macroeconomic / Geopolitical Factors

Macroeconomic and geopolitical factors significantly influence the veterinary services market. Economic downturns can lead to reduced disposable income, prompting pet owners to cut back on discretionary spending, including veterinary care. Conversely, economic growth often results in increased spending on pets, benefiting the market. Geopolitical stability fosters investment in veterinary infrastructure, enhancing service availability.

However, geopolitical tensions can disrupt supply chains for veterinary medicines and equipment, challenging service delivery. Regulatory changes, such as stricter controls on veterinary pharmaceuticals, can affect market dynamics by influencing pricing and availability. Additionally, cultural shifts towards pet humanization drive demand for advanced veterinary services, positively impacting the market.

Balancing these factors is crucial; while some pose challenges, the overall trend towards increased pet care expenditure presents significant growth opportunities for the veterinary services sector. The ongoing innovation in veterinary technologies and increasing consumer demand for aesthetic improvements will continue to support market growth, even amid external economic and geopolitical uncertainties.

Trends

Personalized Whitening Solutions are a Recent Trend in the Market

A notable recent trend in the teeth whitening market is the shift towards personalized whitening solutions. Consumers increasingly seek products and treatments tailored to their individual needs, considering factors such as tooth sensitivity, desired whitening level, and treatment duration. This trend has led to the development of customizable whitening trays, personalized whitening gels, and at-home kits that allow users to adjust the intensity of whitening agents.

Dental professionals are also offering personalized treatment plans, combining in-office procedures with take-home products to achieve optimal results. This move towards personalization reflects a broader consumer preference for products and services that align with their specific preferences and requirements, influencing purchasing decisions and fostering brand loyalty.

As the market continues to evolve, the demand for personalized whitening solutions is expected to grow, prompting companies to innovate and offer more customized options to meet consumer expectations. This trend towards personalization aligns with the broader shift towards individualized and bespoke experiences across various consumer goods sectors. The growth of personalized solutions is set to further drive the market in the coming years.

Regional Analysis

North America is leading the Veterinary Services Market

North America dominated the market with the highest revenue share of 38.2% owing to several key factors. A significant contributor was the increasing pet ownership in the region, leading to a higher demand for veterinary care. For instance, the US veterinary services market was valued at approximately US$42.21 billion in 2023, with projections indicating continued growth.

Technological advancements in veterinary diagnostics and treatments also played a crucial role, enhancing the quality of care and attracting more pet owners. Moreover, the consolidation of veterinary practices contributed to market growth; in November 2024, private equity firms Silver Lake and Shore Capital facilitated a merger between Southern Veterinary Partners and Mission Veterinary Partners, creating a significant veterinary care group valued at US$8.6 billion.

Additionally, the increasing awareness of animal health and welfare among pet owners led to more frequent veterinary visits, further boosting the market. These factors collectively resulted in a robust growth trajectory for North America’s veterinary services market in 2024.

The Asia Pacific region is expected to experience the highest CAGR during the forecast period

Asia Pacific is expected to grow with the fastest CAGR owing to the increasing demand for veterinary care services, driven by rising awareness regarding animal health and welfare. For example, the Asia Pacific veterinary care market generated a revenue of US$14.25 billion in 2021 and is expected to reach US$23.51 billion by 2028. Government initiatives also play a role; in May 2022, the Central Government of India implemented the Livestock Health and Disease Control Schemes with a budget of Rs 525 crores (US$63 million) to control economically essential livestock diseases.

These initiatives are expected to enhance the quality of veterinary services, attracting more pet owners and contributing to market growth. Additionally, the increasing incidence of food-borne infections and zoonotic diseases in the region has heightened the demand for veterinary services, further propelling market expansion. These factors are likely to contribute to the significant growth of the veterinary services market in the Asia-Pacific region during the forecast period.

Key Regions and Countries

• North America
  • US
  • Canada
• Europe
  • Germany
  • France
  • The UK
  • Spain
  • Italy
  • Russia
  • Netherland
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • South Korea
  • India
  • Australia
  • New Zealand
  • Singapore
  • Thailand
  • Vietnam
  • Rest of APAC
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • South Africa
  • Saudi Arabia
  • UAE
  • Rest of MEA

Key Players Analysis

Key players in the veterinary services market focus on expanding service offerings, technological integration, and geographic expansion to fuel growth. They invest in digital health solutions, such as telemedicine and advanced diagnostic tools, to enhance pet care and improve treatment efficiency. Companies also build strategic partnerships with pet insurance providers and animal health organizations to broaden their customer base. They expand into emerging markets, where increasing pet ownership and rising disposable incomes drive demand for veterinary care. Additionally, continuous education and awareness campaigns help build consumer trust and promote preventive care.

Mars Petcare, headquartered in McLean, Virginia, is a global leader in pet health and nutrition. The company provides a wide range of veterinary services through its Banfield Pet Hospital network, offering preventive and emergency care for pets. Mars Petcare focuses on innovation by integrating digital health platforms and expanding access to veterinary care worldwide. Through strategic acquisitions and partnerships with veterinary practices and pet care providers, the company continues to strengthen its position in the veterinary services market.

Top Key Players in the Veterinary Services Market

• PetSmart LLC
• Petco
• Mars Inc
• IVC Evidensia
• Greencross Vets
• Fetch! Pet Care
• CVS Group Plc
• Airpets International

Recent Developments

• In June 2022, Mars Inc. unveiled the MARS PETCARE BIOBANK, aiming to conduct the most extensive real-world study of its kind. This initiative is designed to advance the diagnosis, prevention, and treatment of pet diseases.
• In April 2023, Petco introduced its “Clean Grooming Initiative,” offering grooming services and products free from parabens, phthalates, and chemical dyes. This made Petco the first omnichannel pet retailer in the US to offer specialized clean grooming services and products across its 1,350 pet care centers.

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