Veterinary Services Market To Reach $281.93 Billion By 2033

Veterinary Services Market Growth & Trends

The global veterinary services market size is projected to reach USD 281.93 billion by 2033, according to a new report by Grand View Research, Inc. The market is expected to grow at a CAGR of 7.66% from 2025 to 2033. Some of the key factors propelling the market growth include increasing animal welfare activities, the rising need to enhance food security, increasing pet population, growing awareness about animal health & timely diagnosis & treatments, and increasing expenditure on animal healthcare services. For instance, according to the American Pet Products Association (APPA), overall spending in the U.S. pet industry was estimated at USD 136.8 billion in 2022.

This was notably greater than the USD 123.6 billion estimated in 2021. Hence, the growing expenditure is expected to boost the adoption of veterinary services in the coming years. The COVID-19 outbreak had a mixed effect on the global market. During the year 2020, the market witnessed a decline in growth rate owing to movement restrictions, nationwide lockdowns, and lesser admission rates in veterinary hospitals and other non-medical animal care centers. However, the market quickly recovered the following year, as the COVID-19 lockdowns significantly increased pet adoption rates globally, owing to people’s social isolation & psychological benefits.

For instance, as per an article published in May 2021 in Frontiers Media S.A., the UK witnessed a peek in pet adoption rates, which led to the shelters emptying during the pandemic. In addition, the coronavirus pandemic has increased the concerns over animal-to-animal and animal-to-human disease transmission risks, which, in turn, has increased the government measures on preventative care and diagnosis in livestock animals. The WHO is involved in various cross-sectoral activities to address health threats at the human-animal-ecosystem interface. The overall population of pet animals across the globe has also increased, which supports market growth.

The American Veterinary Medical Association (AVMA) reported in November 2021 that from 2016 to 2020, the companion animal population increased notably. In addition, the 2023 - 2024 survey report published by American Pet Products Association estimated that 65.1 million households in the U.S. own dogs and 46.5 million households own cats. The FEDIAF 2022 report suggested that the region had 113.6 million cats and 92.9 million dogs as of 2021. Therefore, the rising pet population and adoption of cats & dogs are among the key factors drivingthe market growth.

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Veterinary Services Market Report Highlights

• The production animals segment led the market with the largest revenue share of 58.57% in 2024, due to the essential role of veterinary services in ensuring the health, productivity, and biosecurity of livestock such as cattle, poultry, swine, sheep, goats, and aquaculture.

• The medical services segment led the market with the largest revenue share of 70.50% in 2024, due to the rising prevalence of zoonotic diseases and the extensive measures taken worldwide to manage and control outbreaks.

• North America dominated the veterinary services market with the largest revenue share of 36.95% in 2024, driven by rising pet ownership, expanding service offerings, and strategic investments from industry players.

Veterinary Services Market Segmentation

Grand View Research has segmented the global veterinary services market on the basis of animal, type, service type, and region:

Veterinary Services Animal Type Outlook (Revenue, USD Billion, 2021 - 2033)

• Companion Animals

  • Dogs

  • Cats

  • Horses

  • Others

• Production Animals

  • Cattle

  • Poultry

  • Swine

  • Others

Veterinary Services Service Type Outlook (Revenue, USD Billion, 2021 - 2033)

• Medical Services

  • Diagnosis

    • In-Vitro Diagnosis

    • In-Vivo Diagnosis

  • Preventative Care

  • Treatment

    • Consultation

    • Surgery

    • Others

• Non-Medical Services

  • Pet Services

  • Livestock Services

Veterinary Services Regional Outlook (Revenue, USD Billion, 2021 - 2033)

• North America

  • U.S.

  • Canada

  • Mexico

• Europe

  • UK

  • Germany

  • France

  • Italy

  • Spain

  • Denmark

  • Sweden

  • Norway

• Asia Pacific

  • Japan

  • India

  • China

  • South Korea

  • Australia

  • Thailand

• Latin America

  • Brazil

  • Argentina

• Middle East and Africa (MEA)

  • South Africa

  • Saudi Arabia

  • UAE

  • Kuwait

  • Qatar

  • Oman

List of Key Players of Veterinary Services Market

• 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