Veterinary Cardiology Market Size, Share & Trends Analysis Report By Animal Type (Companion, Production), By Product (Pharmaceuticals, Diagnostics), By Indication, By End Use, By Distribution Channel, By Region, And Segment Forecasts, 2024 - 2030

Veterinary Cardiology Market Size & Trends

The global veterinary cardiology market size was estimated at USD 2.64 billion in 2023 and is projected to grow at a CAGR of 8.2% from 2024 to 2030. The increasing demand forpet humanization and rising pet ownership globally has increased the demand for veterinary cardiology. Pet owners treat their pets as family members and aim to provide them with the utmost care and comfort. This includes the provision of regular healthcare services. According to the Global State of Pet Care statistics published by HealthforAnimals in September 2022, more than 50% of the world population is estimated to own a pet at home, and the pet population around the globe can amount to over a billion. The statistics further suggest that the rise of the middle class and changing family structure will likely contribute to the growing pet population.

Moreover, the increasing awareness regarding preventive health has led pet owners to spend more on their health to improve their overall well-being. According to an article published by the American Veterinary Medical Association in October 2022, the annual expenditure on veterinary visits for households owing a dog has increased to USD 362 in 2022 from USD 224 in 2020. In addition, the emphasis on preventive healthcare has encouraged pet owners to opt for pet insurance to provide their pets with better medical services. According to an article published by the Times of India in July 2022, the increasing pet adoption and maintenance in India is expected to increase pet insurance's growth by 14%. The rise in pet insurance is further expected to drive the market growth.

The market's growth can be primarily attributed to the rising prevalence of disorders in animals, increasing emphasis on animal health, and the growing popularity of pet insurance worldwide. These factors are significantly driving the escalating demand for veterinary cardiology services. For instance, according to the HealthforAnimals statistics for 2022, the increasing emphasis on monitoring companion animals and enhancing their well-being is fueling the growing demand for monitoring equipment, leading to a projected global expenditure of 4.6 billion on companion animal diagnostics in 2022.

In addition, the rising cardiac diseases in animals, primarily dogs and cats, are boosting the demand for veterinary cardiology across the globe. The Commonly Diagnosed Heart Disorders in Cats & Dogs are as follows: 

• Congenital Heart Disease (CHD)

• Valvular Degeneration

• Hypertrophic Cardiomyopathy

• Heart Arrhythmias

• Dilated Cardiomyopathy

For instance, in June 2024, the Indian Council for Agricultural published a study highlighting the incidence of cardiac arrhythmias in 435 dogs with a history of generalized diseases over one year and two months from July 2022 to September 2023. The assessment was aimed to determine the occurrence of arrhythmias and found that 114 dogs (26.21%) displayed various types, including atrial fibrillation (30.70%), ST-segment coving, sinus arrest (9.65% each), and ST-segment elevation (8.77% each). Moreover, a rising prevalence of CHD among cattle is further driving the market growth. For instance, according to the Large Animal Review (LAR) study published in June 2023, CHD is a heart condition present at birth, with a reported prevalence ranging from 0.2% to 2.7% in cattle.

Market Concentration & Characteristics

The veterinary cardiology industry exhibits a moderate level of concentration. Characteristics include rapid technological advancements, such as the integration of artificial intelligence (AI) and cardiac monitoring. The industry showcases continuous innovation and expansion fueled by rising animal healthcare expenditures, the growing prevalence of cardiac disorders, and the growing adoption of healthcare solutions.

The market is characterized by a high degree of innovation, driven by advancements in diagnostic tools, therapeutic options, and interventional procedures. Innovations in imaging technologies, such as echocardiography and cardiac MRI, have significantly improved the accuracy of diagnosing heart conditions in animals. Developing novel pharmaceuticals and biologics for treating heart diseases in pets, such as ACE inhibitors and beta-blockers, mirrors advancements in human cardiology. Minimally invasive procedures, including catheter-based interventions, are becoming more common, reducing recovery times and improving outcomes for animal patients.

The market has seen moderate mergers and acquisitions (M&A) activity, reflecting a trend toward consolidation within the broader veterinary healthcare sector. Larger companies are acquiring specialized firms to expand their product portfolios and enhance their technological capabilities. For instance, Mars Inc.'s acquisition of VCA Inc., a provider of veterinary services, included numerous specialty hospitals with cardiology services. Such M&A activities allow companies to broaden their geographic reach, leverage economies of scale, and integrate innovative technologies more efficiently. This consolidation trend also helps create integrated platforms offering comprehensive care, including specialized cardiology services.

Regulations play a crucial role in shaping the market, influencing everything from the approval of new medications and devices to the standards of care provided. Regulatory bodies such as the European Medicines Agency (EMA) and the U.S. Food and Drug Administration (FDA) oversee the approval process for veterinary pharmaceuticals and medical devices, ensuring their safety and efficacy. Furthermore, regulations related to veterinary practice standards, such as those set by the American Veterinary Medical Association (AVMA) and the European Board of Veterinary Specialisation (EBVS), impact how cardiology services are delivered. Compliance with these regulations is essential for market players, as it affects their ability to innovate and bring new products to market. Regulatory frameworks also ensure that veterinary professionals are adequately trained and certified to perform advanced cardiology procedures.

The market is experiencing significant regional expansion, driven by increasing pet ownership, awareness of pet health, and the growing availability of advanced services. North America and Europe currently dominate the market owing to their well-established veterinary infrastructure and high expenditure on pet healthcare. Companies are expanding their operations and investing in local partnerships to tap into these burgeoning markets. For instance, Zoetis has been expanding its presence in Asia through strategic investments and partnerships, aiming to meet the rising demand for veterinary care, including cardiology services.

Animal Type Insights

The companion animals segment accounted for the largest market share of over 67.92% in 2023. The segment is primarily driven by the evolving role of pets, especially dogs, in meeting human emotional needs such as companionship and stress relief—the increasing awareness and understanding of heart disease in pets among owners and veterinarians. As pets are considered integral members of many families, there is a growing demand for specialized care, including cardiology services, to ensure the well-being and longevity of these beloved companions. Advances in veterinary medicine, particularly in diagnostic tools such as echocardiography, electrocardiography, radiography, and cardiac catheterization, have enabled more accurate and timely diagnosis of heart conditions in animals. Moreover, the expertise of board-certified cardiology specialists and ongoing research efforts in the field have improved treatment options and outcomes for pets with heart disease.

Production of animals is anticipated to grow at the fastest CAGR over the forecast period. The growth is driven by the rising focus on the health of animals raised for production purposes, such as livestock, including the need to ensure optimal health and well-being to maximize productivity and profitability in the agricultural sector. Cardiovascular diseases can significantly impact production animals' performance and overall welfare, leading to economic losses for farmers and producers. Monitoring and managing cardiac health in production animals through techniques including electrocardiography can help in the early detection of heart issues, allowing for timely intervention and treatment to maintain the health and productivity of the animals.

Product Insights

The pharmaceuticals segment dominated the market in 2023 with a share of 59.63%. The growth is driven by the increasing prevalence of cardiac diseases in pets, including conditions such as congestive heart failure, arrhythmias, and valvular disorders. As pets live longer due to improved healthcare and nutrition, they are more likely to develop age-related cardiac issues, creating a growing market for pharmaceutical interventions.

The diagnostics segment is anticipated to grow at the fastest CAGR over the forecast period. The rising prevalence of cardiovascular diseases in animals, especially in older pets, has led to a greater need for accurate and timely diagnosis. Advancements in diagnostic technologies have made it easier to detect cardiac abnormalities in animals through non-invasive procedures such as echocardiography, electrocardiography, and blood tests.

Indication Insights

The congestive heart failure segment dominated the market with a share of over 38.30% in 2023. This growth is owed to the increasing valvular heart disease and dilated cardiomyopathy, which leads to volume overload, pressure overload, or both, ultimately resulting in CHF and enlargement of the heart chambers & impaired contractility, leading to poor cardiac function and eventual CHF, respectively. In addition, arrhythmias contribute to the development of CHF by disrupting the normal electrical conduction in the heart, affecting its ability to pump effectively. Moreover, hypertension is also a typical driver of CHF in veterinary patients, as increased blood pressure puts additional strain on the heart muscle over time, leading to its deterioration and eventual failure.

The arrhythmias segment is anticipated to grow at the highest CAGR over the forecast period. The growth is attributed to the growing structural heart disease, such as dilated cardiomyopathy or valvular disease, which can lead to electrical abnormalities in the heart and predispose animals to arrhythmias. Metabolic disorders such as hypothyroidism or hyperkalemia can also disrupt the normal electrical conduction system of the heart, resulting in arrhythmias. Furthermore, certain breeds are genetically predisposed to specific arrhythmias, highlighting the role of genetics in driving this segment of veterinary cardiology. Other factors, such as electrolyte imbalances, drug toxicities, and systemic diseases, including neoplasia, are likely to further contribute to the development of arrhythmias in animals.

Distribution Channel Insights

The hospital/clinic pharmacy segment dominated the market in 2023. The rising awareness among pet owners about the importance of cardiac health in animals has fueled market growth, prompting hospitals and clinics to expand their pharmacy offerings to cater to this specific niche. The partnership between industry players and healthcare providers ensures that cutting-edge medications are readily available at hospital pharmacies specializing in veterinary cardiology. For instance, in April 2023, the Columbus Zoo and Aquarium in Ohio partnered with the Great Ape Heart Project to enhance cardiac care for their great apes. This collaboration aims to improve the understanding and treatment of heart disease in great apes, particularly focusing on gorillas, orangutans, bonobos, and chimpanzees.

The e-commerce segment is anticipated to grow fastest during the forecast period. The increasing adoption of technology and digital platforms in the healthcare industry has led to a growing acceptance of online platforms for purchasing medical supplies and equipment, including those related to veterinary cardiology. The rise of telemedicine and remote consultations in veterinary care has created a need for quick and seamless access to specialized equipment such as cardiology devices. E-commerce platforms provide a convenient solution for procuring these items without physical visits to brick-and-mortar stores. This is particularly beneficial for veterinary practices located in remote areas or with limited access to specialized suppliers.

End Use Insights

The veterinary hospitals & clinics segment accounted for the largest market share in 2023. The increasing advancements in veterinary cardiology technology and treatment options have expanded the capabilities of these facilities, allowing them to offer cutting-edge diagnostic tools and innovative treatment modalities. In addition, the rising prevalence of cardiac conditions in companion animals leads to a higher caseload for veterinary cardiologists. This trend necessitates the presence of well-equipped hospitals and clinics with skilled professionals to cater to the growing number of cardiac patients.

Moreover, collaborations between veterinary cardiologists & other specialists and growing expansions within these facilities contribute to comprehensive care for animals with complex cardiac issues, further driving the growth and importance of hospitals and clinics in the market. For instance, according to MJH Life Sciences updates published in April 2024, the founder and CEO of Boulevard Veterinary (BLVD Vet), along with the co-owner and director of design, launched their first BLVD Vet location in 2015. Since then, they have expanded their chain of Chicago-based clinics to four locations in Illinois. The most recent addition is the Lakeview East clinic, which opened in February 2023. This new establishment has been recognized as winning the dvm360 2023 Hospital Design360™ Competition in the “under-8000-square-feet” category.

Regional Insights

North America veterinary cardiology market dominated the overall global market and accounted for the largest revenue share in 2023. This growth is attributed to the growing investment and increasing insurance facilities for advancing animal healthcare. For instance, a North American Pet Health Insurance Association article published its State of the Industry (SOI) Report in April 2024, highlighting significant growth in the pet insurance sector in 2023. The report revealed that the industry experienced a substantial increase of 21.9% compared to the previous year. This growth propelled the North American pet insurance industry past the USD 4 billion mark for the first time, with total premiums reaching USD 4.27 billion in 2023.

U.S. Veterinary Cardiology Market Trends

The veterinary cardiology market in the U.S. held a significant share of North America's market in 2023. The growth is attributed to the country's rising successful application of animal heart surgeries. For instance, in October 2023, the University of Florida’s College of Veterinary Medicine conducted the first open-heart surgery on a dog in the U.S. The surgery involves tightening the area around the mitral valve and repairing the chordae tendineae to reduce mitral regurgitation. Moreover, the pet insurance market in the U.S. has been experiencing significant growth in recent years. According to the PHI Direct report published in September 2023, there are approximately 5.36 million pets insured by their owners out of over 86.9 million pet-owning households in the country as of 2022. Moreover, states such as California, New York, and Florida account for more than 30% of all enrolled pets in the country. This regional concentration highlights the varying levels of adoption and acceptance of pet insurance across different parts of the U.S.

Europe Veterinary Cardiology Market Trends

The veterinary cardiology market in Europe is witnessing growth fueled by greater healthcare spending and a growing advance in cardiology in veterinary practices. For instance, the CardioVet Symposium held in October 2023 by CVS Group was a significant event to advance cardiology in veterinary practice. This symposium took place at Nailcote Hall in Coventry and was attended by 100 primary care practitioners and nurses from various practices across the country. The event featured a comprehensive program covering multiple cardiology and anesthesia topics, including the staging of myxomatous mitral valve disease, arrhythmias, new techniques for treating mitral valve and congenital heart disease, and approaches to patients with cardiac conditions requiring anesthesia.

The UK veterinary cardiology market is one of the major markets in the European region. The growth is attributed to the increasing number of pet lovers and rising adoption of pets in the country. As per the PHI Direct report published in September 2023, the UK has a significant number of individuals who opt for pet insurance, with approximately 3.7 million people carrying pet insurance policies. These policies cover a total of 4.3 million pets across the country, with dogs and cats comprising the most insured animals. The pet insurance industry in the UK is experiencing steady growth, estimated at around 5% per year. This growth is reflected in the processing of over 1 million claims annually.

The veterinary cardiology market in Germany is projected to expand significantly in the forecast period. The rising incidence of cardiovascular diseases in animals is a significant market driver in Germany. According to the Purina Institute Advancing Science for Pet Health, cardiovascular diseases are common in dogs and cats, with approximately 10% of dogs and 15% of cats suffering from heart disease. The increasing prevalence of cardiovascular diseases in animals has led to a growing demand for veterinary cardiology services, including diagnosing, treating, and managing heart conditions.

Asia Pacific Veterinary Cardiology Market Trends

The veterinary cardiology market in Asia Pacific is expected to grow at the fastest CAGR from 2024 to 203. This growth can be attributed to the increasing pet ownership rates, growing awareness about pet health, and advancements in veterinary medicine, fueling the expansion of veterinary cardiology services in several countries of the region. For instance, PHI Direct stated in September 2023 that around 67% of people reside in households with at least one pet in Australia. Australians spend USD 20.76 per month for cats and USD 46.08 per month for dogs. The higher cost of dog insurance suggests owners are willing to invest more in protecting their canine companions.

India veterinary cardiology market holds a significant share of the Asia Pacific regional market revenue. This growth is owed to the presence of some key players focusing on improving the overall well-being of animals. For instance, In October 2023, Drools Pet Food Pvt introduced an initiative called ‘Drools Vet Thrive’ aimed at upgrading veterinary clinics across the country. This initiative signifies a significant step towards enhancing the quality of veterinary care and services available to pets and their owners. The primary objective of the ‘Drools Vet Thrive’ initiative is to improve the standards of veterinary clinics in the country. By upgrading these facilities, Drools aims to provide better healthcare services for pets, ensuring they receive top-notch treatment and care from qualified professionals.

The veterinary cardiology market in China is expected to grow at the fastest. The growth is attributed to theincrease in pet adoption in the country, coupled with increasing awareness regarding preventive healthcare for pets, are major drivers for the growth of the veterinary medical services market in China; for instance, according to an article published by GlobalPETS in September 2021, the number of people opting for pet insurance in the country increase from about 5,000 to more than 160,000 in five years. This shows the increasing demand for preventive healthcare services in the country.

Latin America Veterinary Cardiology Market Trends

The veterinary cardiology market in Latin America is experiencing significant growth, attributed to the rising advances in veterinary cardiology in the region. Latin America has profoundly impacted the market by fostering collaboration, education, and innovation within the field. For instance, as per the Virginia-Maryland College of Veterinary Medicine updates published in September 2023, Dr. Gerardo Carvallo, a veterinary cardiologist at the Virginia-Maryland College of Veterinary Medicine, contributed to advancing veterinary cardiology in Latin America through his efforts to establish a network of specialists and provide training opportunities for veterinarians in the region. His work has significantly impacted the field by raising awareness about cardiovascular diseases in animals and improving access to specialized care.

Brazil veterinary cardiology market is anticipated to expand in the forecast period due to increasing government initiatives to tackle animal health issues in the country. In that light, the government approved legislation in October 2022  allowing vets to provide online consultations. The step is likely to improve the accessibility of animals to veterinary services and help their well-being. In addition, in September 2023, Purina launched a new edition of the ‘Unleashed’ program, aiming to attract startups from Brazil and Mexico for the first time. The development is likely to create further opportunities for developing the veterinary medical services market in the country.

Middle East & Africa Veterinary Cardiology Market Trends

The veterinary cardiology market in MEA is expected to grow significantly over the forecast period, with growing awareness programs for developing animal healthcare in the region. For instance, in 2023, the Middle East Animal Veterinary Conference (MEAVC) Satellite Events was organized to provide veterinarians with training opportunities in various disciplines without the need to travel outside their country. The first MEAVC Satellite Event occurred in Abu Dhabi, UAE, on March 4-5, 2023. The event focused on two disciplines: Cardiology and Anesthesiology. Renowned specialists were present to train and engage with the attending veterinarians.

Saudi Arabia veterinary cardiology market is anticipated to expand in the forecast period due to increasing advancements in veterinary medicine and technology, enabling veterinarians in Saudi Arabia to diagnose and treat cardiac conditions in animals more effectively. Moreover, government initiatives aimed at improving animal welfare standards and promoting access to quality veterinary care are also contributing to expanding the market in Saudi Arabia.

Key Veterinary Cardiology Company Insights

The global market is highly competitive. Key companies deploy strategic initiatives, such as product development, launches, and sales and marketing strategies, to increase product awareness and strengthen their market share through regional expansions and partnerships. Market players are also involved in conducting clinical testing of their products, patent applications, and increasing product penetration.

Recent Developments

• In September 2023, the University of Florida College of Veterinary Medicine introduced an open-heart dog surgery program, establishing itself as the sole provider in the United States offering mitral valve repair surgery for canines. This pioneering initiative is spearheaded by a proficient veterinary cardiac surgeon who joined the faculty at UF in July 2023. The inauguration of this open-heart surgery program at UF signifies a significant progression in veterinary care for dogs afflicted with mitral valve disease, granting them access to specialized surgical interventions previously scarce in the U.S.

• In June 2022, the FDA conditionally approved Boehringer Ingelheim Animal Health’s pimobendane oral tablets, known as Vetmedin-CA1, for postponing the development of CHF in dogs with Stage B2 preclinical myxomatous mitral valve disease (MMVD). This approval is a major achievement as it marks the first drug tailored to address canines in the preclinical phase of MMVD.

Veterinary Cardiology Market Report Scope

Global Veterinary Cardiology Market Report Segmentation

This report forecasts revenue growth at country levels and provides an analysis on the latest industry trends and opportunities in each of the sub-segments from 2018 to 2030. For this study, Grand View Research has segmented the global veterinary cardiology market report based on animal type, product, indication, end use, distribution channel, and region.

• Animal Type Outlook (Revenue, USD Million, 2018 - 2030)

  • Companion Animals

    • Dogs

    • Cats

    • Horses

    • Others

  • Production Animals

    • Cattle

    • Poultry

    • Others

• Product Outlook (Revenue, USD Million, 2018 - 2030)

  • Pharmaceuticals

    • Pimobendan

    • Spironolactone and benazepril hydrochloride

    • Others

  • Diagnostics

    • Physical exam

    • Chest X-rays

    • Electrocardiogram (ECG)

    • Others

• Indication Outlook (Revenue, USD Million, 2018 - 2030)

  • Congestive Heart Failure

  • Myocardial (Heart Muscle) Disease

  • Arrhythmias

  • Others

• End Use Outlook (Revenue, USD Million, 2018 - 2030)

  • Veterinary Hospitals & Clinics

  • Others

• Distribution Channel Outlook (Revenue, USD Million, 2018 - 2030)

  • Hospital/ Clinic Pharmacy

  • Retail

  • E-Commerce

• Region Outlook (Revenue, USD Million, 2018 - 2030)

  • North America

    • U.S.

    • Canada

    • Mexico

  • Europe

    • UK

    • Germany

    • France

    • Italy

    • Spain

    • Norway

    • Sweden

    • Denmark

  • Asia Pacific

    • Japan

    • China

    • India

    • Australia

    • South Korea

    • Thailand

  • Latin America

    • Brazil

    • Argentina

  • Middle East & Africa

    • South Africa

    • Saudi Arabia

    • UAE

    • Kuwait