Veterinary Services Market Size, Share, and Growth Forecast to 2031 | Advancements in Animal Health and Rising Pet Ownership Driving Industry Expansion

The global veterinary services market size was valued at USD 123.44 billion in 2023 and is projected to grow from USD 131.11 billion in 2024 to USD 212.25 billion by 2031, exhibiting a steady CAGR of 7.12% over the forecast period. This growth is attributed to the increasing global pet population, rising prevalence of zoonotic and chronic animal diseases, technological advancements in veterinary diagnostics, and a growing emphasis on animal welfare and preventive healthcare.

Veterinary Services Market: Key Highlights

The global veterinary services industry is undergoing rapid transformation, driven by heightened awareness of animal health, increased expenditure on companion animals, and the professionalization of veterinary care.

The adoption of advanced diagnostic tools such as AI-enabled imaging, telemedicine platforms, wearable health monitoring devices, and genetic testing is revolutionizing veterinary practices by enhancing disease detection, treatment accuracy, and overall care quality.

Moreover, the expanding livestock sector—driven by global meat and dairy demand—is fueling the need for preventive veterinary services, herd health management, and biosecurity measures. Governments worldwide are also implementing regulations to strengthen veterinary infrastructure and support sustainable animal health practices.

North America dominates the global veterinary services market due to strong pet ownership rates and a well-developed network of veterinary clinics and hospitals. Meanwhile, Asia-Pacific is emerging as the fastest-growing region, supported by rising pet adoption rates, increasing disposable income, and growing awareness about animal welfare.

Veterinary Services Market Drivers and Emerging Trends (2024–2031)

The global veterinary services market is being propelled by multiple interconnected factors — from rising pet humanization to technological innovation in diagnostics and treatment.

Market Drivers

1. Rising Pet Ownership and Expenditure:
   According to industry data, global pet ownership has surged, with more than 60% of households in developed countries owning at least one pet. As pets are increasingly treated as family members, expenditures on premium care, preventive treatments, and wellness services are growing significantly.

2. Increased Prevalence of Zoonotic and Chronic Diseases:
   The rise in infectious and chronic diseases among companion and livestock animals is boosting demand for professional veterinary care. Routine checkups, vaccination programs, and diagnostic testing are becoming essential to prevent disease outbreaks that can also impact human health.

3. Technological Advancements in Veterinary Diagnostics:
   Integration of AI, telehealth, and digital imaging is improving veterinary service accessibility and precision. Telemedicine platforms allow remote consultations and real-time monitoring, expanding service reach even in rural areas.

4. Growing Focus on Food Safety and Livestock Health:
   The livestock industry is increasingly investing in veterinary services to improve productivity, manage herd health, and ensure food safety. Global organizations like the WHO and FAO emphasize veterinary oversight to prevent zoonotic disease transmission and antimicrobial resistance.

5. Government and NGO Initiatives:
   Public health agencies and animal welfare organizations are investing in vaccination drives, veterinary training programs, and rural animal healthcare infrastructure, especially in developing economies.

Emerging Trends

1. Telemedicine and Digital Health in Veterinary Care:
   The global shift toward telehealth is now extending to the animal health industry. Veterinary telemedicine platforms enable virtual consultations, electronic prescriptions, and AI-assisted diagnosis, offering convenience and cost efficiency for pet owners.

2. AI and Data Analytics in Animal Health Monitoring:
   Artificial Intelligence is increasingly used in predictive health analysis, diagnostic imaging, and personalized treatment planning. AI-powered wearable devices and sensors track vital signs, nutrition, and activity patterns to detect anomalies early.

3. Preventive and Wellness Care:
   The veterinary industry is shifting from reactive treatments to preventive healthcare models, including wellness plans, dietary counseling, and early diagnostic screenings, which reduce long-term treatment costs and improve animal longevity.

4. Corporate Consolidation and Clinic Expansion:
   The sector is witnessing rapid consolidation, with major veterinary groups and private equity firms acquiring independent clinics. This trend enhances service standardization, technology integration, and scalability of operations.

5. Sustainability and Ethical Practices:
   Growing awareness of animal ethics and sustainability is leading to eco-friendly pharmaceutical products, reduced antibiotic usage, and improved livestock management practices aligned with global ESG (Environmental, Social, and Governance) standards.

Market Segmentation

By Service Type

• Diagnostic Services

• Preventive Care

• Therapeutic and Surgical Services

• Dental Care

• Emergency & Critical Care

• Others (Wellness & Nutrition Counseling)

By Animal Type

• Companion Animals (Dogs, Cats, Horses, Others)

• Livestock Animals (Cattle, Poultry, Swine, Sheep, and Goats)

By End User

• Veterinary Hospitals and Clinics

• Diagnostic Laboratories

• Mobile Veterinary Units

• Research Institutes

• Home Care Services

Regional Insights

North America

North America held the largest share of the global veterinary services market in 2024, led by the United States and Canada. High pet adoption rates, strong pet insurance penetration, and availability of advanced healthcare infrastructure contribute to the region’s dominance. Major players continue to invest in digital veterinary platforms and advanced treatment technologies.

Europe

Europe is a key market driven by robust government policies promoting animal health, widespread availability of veterinary professionals, and strong awareness of zoonotic diseases. The U.K., Germany, and France are leading markets due to well-established veterinary networks and supportive animal welfare legislation.

Asia-Pacific

Asia-Pacific is projected to witness the highest CAGR during the forecast period. Rapid urbanization, rising disposable income, and increasing awareness about companion animal care in countries such as China, India, Japan, and Australia are driving market expansion. Government initiatives for livestock immunization and veterinary education further strengthen regional growth.

Latin America

Latin America is emerging as a growing market supported by a large livestock base, agricultural development, and gradual improvements in veterinary infrastructure. Brazil and Mexico are key contributors, with rising investments in animal vaccination and disease control programs.

Middle East & Africa

MEA is witnessing steady growth, fueled by government-funded veterinary programs, livestock farming expansion, and increased adoption of modern diagnostic tools. The UAE and South Africa are prominent regional markets due to ongoing modernization of veterinary clinics and animal welfare initiatives.

Competitive Landscape

The global veterinary services market is highly competitive and fragmented, with key players focusing on service expansion, technological innovation, and strategic acquisitions to strengthen market presence.

Key Companies Include:

• Mars Veterinary Health

• VCA Animal Hospitals

• Banfield Pet Hospital

• CVS Group plc

• National Veterinary Associates (NVA)

• Idexx Laboratories, Inc.

• Zoetis Services LLC

• Greencross Vets

• VetPartners Pty Ltd.

• PetIQ, Inc.

These companies are actively investing in digital platforms, AI-driven diagnostics, and telemedicine solutions to enhance operational efficiency and provide seamless client experiences. Collaborations with universities, biotechnology firms, and insurance companies are also driving innovation and service accessibility.

Future Outlook: Veterinary Services Market Trends to 2031

The future of the global veterinary services market looks promising as animal health becomes an integral component of global healthcare ecosystems. With advancements in diagnostics, biotechnology, and digital health, veterinary care is evolving from traditional clinical models to connected, data-driven systems.

Key trends shaping the future include:

• Expansion of pet insurance coverage enabling access to high-quality treatments.

• Growing integration of genomics and precision medicine in animal diagnostics.

• Rising adoption of AI-driven veterinary management platforms for clinical decision support.

• Increased focus on livestock productivity and disease prevention through vaccination and data analytics.

• Stronger emphasis on cross-sector collaboration between public health and veterinary medicine (One Health approach).

As sustainability, ethics, and innovation become central to veterinary care, the industry will continue its robust trajectory toward a USD 212.25 billion global market by 2031.

Kings Research Says

The Veterinary Services Market is set to play a pivotal role in promoting global animal health, food safety, and sustainable livestock management. Rising consumer expectations, digital transformation, and the integration of smart healthcare technologies are redefining the veterinary landscape.

Kings Research highlights that the synergy between AI, IoT, and veterinary science will lead to early disease detection, optimized treatment plans, and improved outcomes for both companion and livestock animals.

Organizations and clinics that invest early in technology-driven, preventive, and sustainable veterinary practices will be best positioned to capture emerging growth opportunities and navigate the evolving dynamics of global animal healthcare.

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