Veterinary Services Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2021-2031F

Companion Animals is the fastest growing sector, North America is the largest market

The Global Veterinary Services Market is poised for significant growth, projected to expand from USD 139.12 Billion in 2025 to USD 234.73 Billion by 2031, demonstrating a 9.11% CAGR. This sector encompasses professional medical care, diagnostic procedures, and preventive health management for companion animals and livestock. Its expansion is primarily fueled by the increasing global demand for high-quality animal protein, necessitating rigorous disease control, and the strengthening human-animal bond that drives pet owners to invest in comprehensive healthcare, as evidenced by Australia's pet population reaching an estimated 31.6 million animals in 2025.

Market Drivers

A major market driver is the surge in companion animal ownership and pet humanization, prompting a demand for specialized treatments like oncology, cardiology, and orthopedics, thereby expanding revenue potential beyond basic care; 94 million U.S. households owned at least one pet in 2024, according to a March 2025 report. Furthermore, the growing penetration of pet health insurance, with U.S. gross written premiums exceeding $4.7 billion in 2024, mitigates financial barriers to expensive procedures, enabling advanced veterinary care despite rising costs, which increased by 5.7% by May 2025.

Market Challenges

Despite this robust growth, the market faces a substantial challenge in the chronic veterinary workforce shortage, which creates severe operational bottlenecks by limiting clinics' capacity to increase patient throughput. This deficit of qualified professionals often restricts appointment availability and delays non-urgent procedures, preventing the industry from fully capitalizing on the escalating case volume; for instance, current projections estimate 5,000 job openings for veterinarians in Canada in 2025.

Market Trends

Concurrently, the market is undergoing structural transformation through the consolidation of independent practices into corporate networks, where large veterinary groups and private equity acquire hospitals to leverage economies of scale and standardize operations, exemplified by CVS Group completing seven acquisitions covering 15 practice sites in Australia during the 2024-2025 financial year. Additionally, Artificial Intelligence integration in diagnostic imaging is revolutionizing workflows by automating pathology detection in radiographs and cytology, offering real-time decision support that reduces diagnostic burdens and mitigates workforce shortages; IDEXX Laboratories placed nearly 2,700 units of its AI-enabled inVue Dx analyzer globally in the first half of fiscal year 2025, allowing for more efficient management of higher caseloads.

Key Market Players

• CVS Group Plc
• Mars Incorporated
• National Veterinary Associates
• Pets at Home Group PLC
• IVC Evidensia
• A Place for Rover, Inc.
• PetSmart LLC
• Airpets International

Report Scope

In this report, the Global Veterinary Services Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

Veterinary Services Market, by Animal Type:

• Companion Animals
• Production Animal

Veterinary Services Market, by Service Type:

• Medical Services
• Non-Medical Services

Veterinary Services Market, by Region:

• North America
• Europe
• Asia Pacific
• South America
• Middle East & Africa

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in the Global Veterinary Services Market.

Available Customizations:

With the given market data, the publisher offers customizations according to a company's specific needs. The following customization options are available for the report:

Company Information

• Detailed analysis and profiling of additional market players (up to five).

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