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Veterinary Service Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028
Report Format: PDF+Excel | Report ID: SR112023A5549
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Market Overview:
The global veterinary service market size reached US$ 107.5 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 148.7 Billion by 2028, exhibiting a growth rate (CAGR) of 5.15% during 2023-2028.
A veterinary service is utilized in the surveillance, early diagnosis, and treatment of animal diseases, zoonoses, and foodborne zoonotic hazards. It relies on veterinary medicinal products, such as antimicrobial agents, to minimize the likelihood of non-compliance concerning veterinary drug residues in food of animal origin and the development of antimicrobial resistance (AMR). Besides this, it assists in increasing awareness about food producers, processors and distributors, and addressing animal production food safety.
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Note: Information in the above chart consists of dummy data and is only shown here for representation purpose. Kindly contact us for the actual market size and trends.
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Veterinary Service Market Trends:
With the rising number of human pathogens originating in animals, veterinary services are presently becoming increasingly essential for protecting animals, safeguarding public health, and ensuring food safety. This, in confluence with the increasing adoption of companion animals around the world, represents one of the key factors stimulating the growth of the market. Moreover, governments of numerous countries are relaxing the telemedicine and veterinarian-client-patient relationship (VCPR) regulations on account of the coronavirus disease (COVID-19) outbreak and making telemedicine available to pet parents. It is utilized in veterinary for postoperative checks, dermatologic concerns, behavioral issues, and scheduled follow-up visits for pets with chronic diseases, thereby allowing veterinarians to prescribe the treatment without the direct examination of pets. This, coupled with recent expansions in pet services, including online pet pharmacies and food and product delivery via subscription services, is impelling the market growth. Apart from this, advances in animal health biotechnologies, such as vaccines, antimicrobials, and diagnostic tools, for minimizing the burden of diseases and improving the standards of animal health and welfare are positively influencing the market. In addition, significant growth in the livestock sector is projected to create a positive outlook for the market in the upcoming years.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global veterinary service market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on service, animal type and end use.
Breakup by Service:
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- Surgery
- Diagnostic Tests and Imaging
- Physical Health Monitoring
- Others
Breakup by Animal Type:
- Companion Animal
- Farm Animal
Breakup by End Use:
- Veterinary Clinic
- Veterinary Hospital
Breakup by Region:
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- North America
- United States
- Canada
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
- Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Others
- Latin America
- Brazil
- Mexico
- Others
- Middle East and Africa
Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players being Addison Biological Laboratory Inc., Armor Animal Health, CityVet, CVS Group PLC, Elanco Animal Health Incorporated, Ethos Veterinary Health LLC, FirstVet, Greencross Vets, Heska Corporation, Idexx Laboratories Inc., Intervet Inc. (Merck & Co. Inc.), PetIQ LLC and Pets at Home Group PLC.
Report Coverage:
| Report Features | Details |
|---|---|
| Base Year of the Analysis | 2022 |
| Historical Period | 2017-2022 |
| Forecast Period | 2023-2028 |
| Units | US$ Billion |
| Segment Coverage | Service, Animal Type, End Use, Region |
| Region Covered | Asia Pacific, Europe, North America, Latin America, Middle East and Africa |
| Countries Covered | United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico |
| Companies Covered | Addison Biological Laboratory Inc., Armor Animal Health, CityVet, CVS Group PLC, Elanco Animal Health Incorporated, Ethos Veterinary Health LLC, FirstVet, Greencross Vets, Heska Corporation, Idexx Laboratories Inc., Intervet Inc. (Merck & Co. Inc.), PetIQ LLC and Pets at Home Group PLC. |
| Customization Scope | 10% Free Customization |
| Report Price and Purchase Option | Single User License: US$ 2499 Five User License: US$ 3499 Corporate License: US$ 4499 |
| Post-Sale Analyst Support | 10-12 Weeks |
| Delivery Format | PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request) |
The global veterinary service market was valued at US$ 107.5 Billion in 2022.
We expect the global veterinary service market to exhibit a CAGR of 5.15% during 2023-2028.
The rising inclination among numerous pet parents towards veterinary services for periodic medical monitoring and animal neutering is primarily driving the global veterinary service market.
The sudden outbreak of the COVID-19 pandemic has led to the growing adoption of veterinary services that can be offered in remote locations via digital consultation systems.
Based on the service, the global veterinary service market has been segregated into surgery, diagnostic tests and imaging, physical health monitoring, and others. Among these, surgery currently holds the largest market share.
Based on the animal type, the global veterinary service market can be bifurcated into companion animal and farm animal. Currently, companion animal exhibits a clear dominance in the market.
On a regional level, the market has been classified into North America, Asia-Pacific, Europe, Latin America, and Middle East and Africa, where North America currently dominates the global market.
Some of the major players in the global veterinary service market include Addison Biological Laboratory Inc., Armor Animal Health, CityVet, CVS Group PLC, Elanco Animal Health Incorporated, Ethos Veterinary Health LLC, FirstVet, Greencross Vets, Heska Corporation, Idexx Laboratories Inc., Intervet Inc. (Merck & Co. Inc.), PetIQ LLC, and Pets at Home Group PLC.
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