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Veterinary Services Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028 Segmented By Animal Type (Companion Animals, Production Animals), By Companion Animals (Dogs, Cats, Horses, Others), By Production Animals (Cattle, Poultry, Swine, Others), By Service Type (Medical Services, Non-Medical Services), By Region, Competition, Forecast and Opportunities, 2028

October 2023 | 180 pages | ID: VEDC8F06CA42EN
TechSci Research

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The Global Veterinary Services Market reached a valuation of USD 111.67 Billion in 2022 and is expected to experience strong growth in the forecast period, projecting a Compound Annual Growth Rate (CAGR) of 9.10% and expected to reach USD 187.57 Billion through 2028. This market encompasses a wide range of healthcare services provided to animals, including companion pets, livestock, and exotic species. These services encompass medical care, diagnostics, surgical procedures, vaccinations, preventive care, and wellness programs. The market is a vital component of animal health and welfare, addressing the medical needs of animals and ensuring their well-being.

Key Market Drivers:

1. Advancements in Veterinary Medicine: Significant advancements in veterinary medicine have transformed the global Veterinary Services Market, enhancing the quality of care, diagnosis, treatment options, and overall well-being of animals. These advancements include advanced diagnostic tools, minimally invasive surgical techniques, stem cell therapy, personalized medicine, telemedicine, research into animal nutrition, dental health, rehabilitation, and behavioral medicine. They have expanded the scope of services offered by veterinary practices, improving animal health outcomes.

2. Growing Focus on Preventive Care: The global Veterinary Services Market has witnessed a growing emphasis on preventive care, reflecting a shift in consumer attitudes and veterinary practices. Preventive care involves strategies and practices aimed at maintaining animal health, reducing the risk of diseases, and promoting early detection. This approach has led to regular check-ups, vaccinations, and early disease detection becoming standard practice, contributing to healthier animals and longer lifespans.

3. Nutritional and Dietary Advancements: Advances in nutritional and dietary science have played a pivotal role in the global Veterinary Services Market. These advancements have led to a better understanding of the specific dietary needs of different animal species, breeds, and individual conditions. Specialized diets, therapeutic diets, nutraceuticals, tailored diets for different life stages, and dietary strategies have optimized animal health.

4. Humanization of Pets: The humanization of pets has led to a fundamental shift in the global Veterinary Services Market. Pets are now regarded as integral family members, leading to higher demand for quality healthcare services. This trend has driven increased spending on pet healthcare, advanced treatments, diagnostics, and specialized diets to ensure pets' optimal health and well-being.

5. Pet Insurance and Financial Planning: The adoption of pet insurance and financial planning has become increasingly relevant within the Veterinary Services Market. Pet insurance policies help pet owners manage the financial aspects of veterinary care, covering various medical expenses. This trend encourages pet owners to seek comprehensive veterinary services, as it mitigates economic constraints and ensures the best possible care for animals.

Segmental Insights:

Animal Type Insights: In 2022, the Veterinary Services Market was predominantly driven by the companion animal segment, including dogs, cats, horses, and others. This is attributed to increasing pet ownership, growing awareness of pet health and nutrition, and the rising trend of pet humanization. Additionally, the production animal segment, comprising cattle, poultry, swine, and others, remains essential due to its significance in food production.

Type Insights: The non-medical services segment dominated the Veterinary Services Market in 2022 and is anticipated to continue its expansion. This growth is attributed to increased government support and various strategic initiatives implemented by key market players, which have positively influenced the segment's growth.

Regional Insights: North America held the largest revenue share in the Veterinary Services Market in 2022. This can be attributed to technological advancements, cost-effective services, and overall improvements in veterinary services, particularly in the United States and Canada. These factors have been key drivers of regional market growth.

Key Market Players
  • CVS Group Plc
  • Mars Incorporated
  • National Veterinary Associates
  • Pets at Home Group PLC
  • Greencross Vets
  • Fetch! Pet Care
  • IVC Evidensia
  • A Place for Rover, Inc.
  • PetSmart LLC
  • Airpets International
Report Scope:

In this report, the Global Veterinary Services Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:
  • Global Veterinary Services Market, By Animal Type:
  • Companion Animals
  • Production Animals
  • Global Veterinary Services Market, By Service Type:
  • Medical Services
  • Non-Medical Services
  • Global Veterinary Services Market, By Companion Animals:
  • Dogs
  • Cats
  • Horses
  • Others
  • Global Veterinary Services Market, By Production Animals:
  • Cattle
  • Poultry
  • Swine
  • Others
  • Global Veterinary Services Market, By Region:
  • North America
  • United States
  • Canada
  • Mexico
  • Europe
  • Germany
  • France
  • United Kingdom
  • Italy
  • Spain
  • Asia-Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Singapore
  • South America
  • Brazil
  • Argentina
  • Colombia
  • Middle East & Africa
  • UAE
  • Saudi Arabia
  • South Africa
Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in the Global Veterinary Services Market.

Available Customizations:

Global Veterinary Services Market report with the given market data, Tech Sci Research offers customizations according to a company's specific needs. The following customization options are available for the report:

Company Information
  • Detailed analysis and profiling of additional market players (up to five).
1. PRODUCT OVERVIEW

1.1. Market Definition
1.2. Scope of the Market
  1.2.1. Markets Covered
  1.2.2. Years Considered for Study
  1.2.3. Key Market Segmentations

2. RESEARCH METHODOLOGY

2.1. Objective of the Study
2.2. Baseline Methodology
2.3. Key Industry Partners
2.4. Major Association and Secondary Animal Types
2.5. Forecasting Methodology
2.6. Data Triangulation & Validation
2.7. Assumptions and Limitations

3. EXECUTIVE SUMMARY

3.1. Overview of the Market
3.2. Overview of Key Market Segmentations
3.3. Overview of Key Market Players
3.4. Overview of Key Regions/Countries
3.5. Overview of Market Drivers, Challenges, and Trends

4. VOICE OF CUSTOMER


5. GLOBAL VETERINARY SERVICES MARKET OUTLOOK

5.1. Market Size & Forecast
  5.1.1. By Value
5.2. Market Share & Forecast
  5.2.1. By Animal Type (Companion Animals, Production Animals)
    5.2.1.1. By Companion Animals (Dogs, Cats, Horses, Others)
    5.2.1.2. By Production Animals (Cattle, Poultry, Swine, Others)
  5.2.2. By Service Type (Medical Services, Non-Medical Services)
  5.2.3. By Region (North America, Europe, Asia Pacific, South America, Middle East & Africa)
  5.2.4. By Company (2022)
5.3. Product Market Map
  5.3.1. By Animal Type
  5.3.2. By Type
  5.3.3. By Region

6. NORTH AMERICA VETERINARY SERVICES MARKET OUTLOOK

6.1. Market Size & Forecast
  6.1.1. By Value
6.2. Market Share & Forecast
  6.2.1. By Animal Type
  6.2.2. By Type
  6.2.3. By Country
6.3. North America: Country Analysis
  6.3.1. United States Veterinary Services Market Outlook
    6.3.1.1. Market Size & Forecast
      6.3.1.1.1. By Value
    6.3.1.2. Market Share & Forecast
      6.3.1.2.1. By Animal Type
      6.3.1.2.2. By Type
  6.3.2. Canada Veterinary Services Market Outlook
    6.3.2.1. Market Size & Forecast
      6.3.2.1.1. By Value
    6.3.2.2. Market Share & Forecast
      6.3.2.2.1. By Animal Type
      6.3.2.2.2. By Type
  6.3.3. Mexico Veterinary Services Market Outlook
    6.3.3.1. Market Size & Forecast
      6.3.3.1.1. By Value
    6.3.3.2. Market Share & Forecast
      6.3.3.2.1. By Animal Type
      6.3.3.2.2. By Type

7. EUROPE VETERINARY SERVICES MARKET OUTLOOK

7.1. Market Size & Forecast
  7.1.1. By Value
7.2. Market Share & Forecast
  7.2.1. By Animal Type
  7.2.2. By Type
  7.2.3. By Country
7.3. Europe: Country Analysis
  7.3.1. Germany Veterinary Services Market Outlook
    7.3.1.1. Market Size & Forecast
      7.3.1.1.1. By Value
    7.3.1.2. Market Share & Forecast
      7.3.1.2.1. By Animal Type
      7.3.1.2.2. By Type
  7.3.2. France Veterinary Services Market Outlook
    7.3.2.1. Market Size & Forecast
      7.3.2.1.1. By Value
    7.3.2.2. Market Share & Forecast
      7.3.2.2.1. By Animal Type
      7.3.2.2.2. By Type
  7.3.3. United Kingdom Veterinary Services Market Outlook
    7.3.3.1. Market Size & Forecast
      7.3.3.1.1. By Value
    7.3.3.2. Market Share & Forecast
      7.3.3.2.1. By Animal Type
      7.3.3.2.2. By Type
  7.3.4. Italy Veterinary Services Market Outlook
    7.3.4.1. Market Size & Forecast
      7.3.4.1.1. By Value
    7.3.4.2. Market Share & Forecast
      7.3.4.2.1. By Animal Type
      7.3.4.2.2. By Type
  7.3.5. Spain Veterinary Services Market Outlook
    7.3.5.1. Market Size & Forecast
      7.3.5.1.1. By Value
    7.3.5.2. Market Share & Forecast
      7.3.5.2.1. By Animal Type
      7.3.5.2.2. By Type

8. ASIA-PACIFIC VETERINARY SERVICES MARKET OUTLOOK

8.1. Market Size & Forecast
  8.1.1. By Value
8.2. Market Share & Forecast
  8.2.1. By Animal Type
  8.2.2. By Type
  8.2.3. By Country
8.3. Asia-Pacific: Country Analysis
  8.3.1. China Veterinary Services Market Outlook
    8.3.1.1. Market Size & Forecast
      8.3.1.1.1. By Value
    8.3.1.2. Market Share & Forecast
      8.3.1.2.1. By Animal Type
      8.3.1.2.2. By Type
  8.3.2. Japan Veterinary Services Market Outlook
    8.3.2.1. Market Size & Forecast
      8.3.2.1.1. By Value
    8.3.2.2. Market Share & Forecast
      8.3.2.2.1. By Animal Type
      8.3.2.2.2. By Type
  8.3.3. India Veterinary Services Market Outlook
    8.3.3.1. Market Size & Forecast
      8.3.3.1.1. By Value
    8.3.3.2. Market Share & Forecast
      8.3.3.2.1. By Animal Type
      8.3.3.2.2. By Type
  8.3.4. South Korea Veterinary Services Market Outlook
    8.3.4.1. Market Size & Forecast
      8.3.4.1.1. By Value
    8.3.4.2. Market Share & Forecast
      8.3.4.2.1. By Animal Type
      8.3.4.2.2. By Type
  8.3.5. Australia Veterinary Services Market Outlook
    8.3.5.1. Market Size & Forecast
      8.3.5.1.1. By Value
    8.3.5.2. Market Share & Forecast
      8.3.5.2.1. By Animal Type
      8.3.5.2.2. By Type

9. SOUTH AMERICA VETERINARY SERVICES MARKET OUTLOOK

9.1. Market Size & Forecast
  9.1.1. By Value
9.2. Market Share & Forecast
  9.2.1. By Animal Type
  9.2.2. By Type
  9.2.3. By Country
9.3. South America: Country Analysis
  9.3.1. Brazil Veterinary Services Market Outlook
    9.3.1.1. Market Size & Forecast
      9.3.1.1.1. By Value
    9.3.1.2. Market Share & Forecast
      9.3.1.2.1. By Animal Type
      9.3.1.2.2. By Type
  9.3.2. Argentina Veterinary Services Market Outlook
    9.3.2.1. Market Size & Forecast
      9.3.2.1.1. By Value
    9.3.2.2. Market Share & Forecast
      9.3.2.2.1. By Animal Type
      9.3.2.2.2. By Type
  9.3.3. Colombia Veterinary Services Market Outlook
    9.3.3.1. Market Size & Forecast
      9.3.3.1.1. By Value
    9.3.3.2. Market Share & Forecast
      9.3.3.2.1. By Animal Type
      9.3.3.2.2. By Type

10. MIDDLE EAST AND AFRICA VETERINARY SERVICES MARKET OUTLOOK

10.1. Market Size & Forecast
  10.1.1. By Value
10.2. Market Share & Forecast
  10.2.1. By Animal Type
  10.2.2. By Application
  10.2.3. By Animal Type
  10.2.4. By Country
10.3. MEA: Country Analysis
  10.3.1. UAE Veterinary Services Market Outlook
    10.3.1.1. Market Size & Forecast
      10.3.1.1.1. By Value
    10.3.1.2. Market Share & Forecast
      10.3.1.2.1. By Animal Type
      10.3.1.2.2. By Type
  10.3.2. Saudi Arabia Veterinary Services Market Outlook
    10.3.2.1. Market Size & Forecast
      10.3.2.1.1. By Value
    10.3.2.2. Market Share & Forecast
      10.3.2.2.1. By Animal Type
      10.3.2.2.2. By Type
  10.3.3. South Africa Veterinary Services Market Outlook
    10.3.3.1. Market Size & Forecast
      10.3.3.1.1. By Value
    10.3.3.2. Market Share & Forecast
      10.3.3.2.1. By Animal Type
      10.3.3.2.2. By Type

11. MARKET DYNAMICS

11.1. Drivers
11.2. Challenges

12. MARKET TRENDS & DEVELOPMENTS

12.1. Merger & Acquisition
12.2. Product Development
12.3. Recent Developments

13. COMPETITIVE LANDSCAPE

13.1. Business Overview
13.2. Company Snapshot
13.3. Products & Services
13.4. Financials (As Reported)
13.5. Recent Developments
  13.5.1. CVS Group Plc
  13.5.2. Mars Incorporated
  13.5.3. National Veterinary Associates
  13.5.4. Pets at Home Group PLC
  13.5.5. Greencross Vets
  13.5.6. Fetch! Pet Care
  13.5.7. IVC Evidensia
  13.5.8. A Place for Rover, Inc.
  13.5.9. PetSmart LLC
  13.5.10. Airpets International

14. STRATEGIC RECOMMENDATIONS


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