This report is designed for companies and decision-makers seeking actionable insights on market size, growth, trends, and competitive strategies to drive expansion and success in the Veterinary Care industry.
What is the expected value of the veterinary care market over the forecast period?
The veterinary care market size has grown strongly in recent years. It will grow from $82.04 billion in 2024 to $87.77 billion in 2025 at a compound annual growth rate (CAGR) of 7.0%. The growth in the historic period can be attributed to rising adoption of dogs, rising government initiatives for animal health, increasing pet population, increasing disposable income, and demand for veterinary diagnostics.
The veterinary care market size is expected to see strong growth in the next few years. It will grow to $113.58 billion in 2029 at a compound annual growth rate (CAGR) of 6.7%. The growth in the forecast period can be attributed to rising demand for portable devices for point-of-care (POC) services, rise in veterinary services, rising incidence of chronic diseases in pets, demand for hazard-free animal products, and increase in rabies deaths. Major trends in the forecast period include ribonucleic acid (RNA)-particle technology, innovative animal healthcare products, advancements in veterinary medicine, digital cytology technology, and technological advancements.
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What industry dynamics are acting as key growth drivers for the veterinary care market?
The increasing trend of pet adoption is expected to propel the growth of the veterinary care market going forward. Pet adoption is the process of taking responsibility for a pet from a shelter, rescue organization, or previous owner, providing them with a new, permanent home, which involves legal and ethical commitments. The increase in pet adoption can be attributed to several factors, such as social trends, urbanization, and a rise in young adults delaying parenthood. Veterinary care is crucial for pet adoption, as it provides medical treatment and preventive care to ensure the pet is healthy and addresses any immediate medical needs. For instance, in October 2023, according to the American Pet Products Association, a US-based non-profit association, there were 86.9 million US households that owned a pet, which is 66% of households in 2022. Additionally, in November 2022, according to Animal Medicines Australia, an Australia-based association representing animal health, 69% of households owned pets in Australia in 2022. Therefore, the increasing trend of pet adoption drives the veterinary care market.
What are the fastest-growing segments in the veterinary care market forecast period?
The veterinary care market covered in this report is segmented –
1) By Product: Therapeutics, Diagnostics
2) By Animal Type: Companion Animal, Production Animal
3) By Type Of Care: Primary, Emergency, Critical, Specialty Services, Others Services
4) By End-User: Veterinary Hospitals, Veterinary Clinics, Veterinary Laboratory Testing Services, Other End-User
Subsegments:
1) By Therapeutics: Anti-infective Drugs, Pain Management Medications, Vaccines, Anesthetics, Anti-inflammatory Drugs, Hormonal Therapies, Nutraceuticals And Supplements
2) By Diagnostics: In-Vitro Diagnostic Tests, Imaging Equipment (X-ray, Ultrasound, MRI), Blood Testing Kits, Fecal Analysis Kits, Rapid Test Kits, Histopathology Products, Diagnostic Imaging Software
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What are the most notable trends influencing investment in the veterinary care sector?
Major companies operating in the veterinary care market are focused on developing innovative products such as pet first-aid kits to enhance the health and well-being of animals, addressing a wide range of needs from preventive care to treatment of complex medical conditions. A pet first-aid kit is a collection of essential supplies and tools designed to provide initial care for pets in case of minor injuries or emergencies before professional veterinary help can be obtained. A well-stocked first-aid kit can be crucial in handling common pet emergencies, such as cuts, burns, or choking. For instance, in August 2023, MySimplePetLab., a US-based company that provides pet care from home or in the clinic, launched the first aid care dog kit in Target stores. This kit is designed to provide immediate relief for wounds, cuts, and minor injuries, making it an essential item for pet owners at home and while traveling. The kit includes necessary items such as a vet-approved care guide, wound cleansing, wound shield, bleed-stop powder, antiseptic wipes, antibiotic ointments, gauze pads, an instant cold pack, and more.
Which major players hold significant market share in the veterinary care sector?
Major companies operating in the veterinary care market are Cargill Incorporated, Novartis AG, Mars Incorporated, C.H. Boehringer Sohn AG & Co. KG, The Merck Group, Zoetis Inc., Elanco Animal Health Incorporated, IDEXX Laboratories Inc., Ceva Santé Animale, Phibro Animal Health Corporation, Dechra Pharmaceuticals PLC, PetVet Care Centers LLC, VetStrategy Inc., Vetoquinol, Heska Corporation, Neogen Corporation, Sequent Scientific Ltd., Animal Care Group Plc, Medivet, Hester Bioscience Limited
Which regional segments are forecasted to witness the fastest growth in the veterinary care market?
North America was the largest region in the veterinary care market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the veterinary care market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
How Can Companies Use The Veterinary Care Market Report to Drive Business Results?
This report provides actionable insights tailored for business use—not academic analysis. Companies can leverage the data to:
• Time market entry or expansion using growth forecasts and CAGR trends.
• Develop competitive products by tracking key technology shifts and user preferences.
• Tailor regional strategies with in-depth geographic data and local market dynamics.
• Benchmark and plan partnerships using competitive landscape insights.
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