Global Veterinary Care Market Outlook to 2030

Global Veterinary Care Market Overview

• The Global Veterinary Care Market was valued at USD 87.3 billion, driven by the rising awareness regarding animal health and increasing pet ownership globally. The market has experienced growth due to increased demand for veterinary services across companion animals and livestock. The sector's expansion is propelled by continuous advancements in veterinary diagnostics, treatments, and preventive care. The growing investment in veterinary pharmaceuticals and the rise of animal welfare organizations further contribute to this market's growth.
• The veterinary care market is dominated by regions such as North America and Europe, with the U.S. and Germany playing a pivotal role. North America's dominance stems from its high pet ownership rates, advanced veterinary infrastructure, and government regulations promoting animal welfare. In Europe, countries like Germany are known for their strong presence in livestock farming and veterinary innovations, contributing to market dominance. These regions have advanced healthcare services, a large base of skilled veterinary professionals, and growing expenditure on animal health.
• Governments across the globe are strengthening regulations governing veterinary practice to ensure animal health and welfare. In 2023, the World Organisation for Animal Health reported that 120 countries updated their veterinary practice laws, ensuring stricter standards in diagnostic procedures, pharmaceutical usage, and treatment methods. These regulations aim to enhance the quality of care and reduce malpractices in the veterinary sector. Veterinary practitioners are also required to undergo continuous professional development (CPD) to stay updated with the latest advancements in the field.

Global Veterinary Care Market Segmentation

• By Service Type: The Global Veterinary Care Market is segmented by service type into diagnostic services, surgical services, preventive care, and therapeutic services. Diagnostic services, including imaging and lab tests, hold a dominant market share due to the increased focus on early disease detection and prevention. With the growing emphasis on preventive care, animal owners increasingly seek veterinary diagnostics to ensure the well-being of pets and livestock.

• By Animal Type: The market is segmented by animal type into companion animals (dogs, cats, horses) and livestock animals (cattle, swine, poultry). Companion animals account for the largest share in this segment, driven by the growing trend of pet humanization and increased pet ownership. The surge in pet insurance and willingness to spend on advanced veterinary care further propels this segment.
• By Region: Geographically, the veterinary care market is segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. North America remains the dominant region, owing to its advanced veterinary infrastructure, strong pet insurance market, and high spending on animal health. The presence of major industry players and high awareness of animal welfare also contribute to the market's leadership in this region.

Global Veterinary Care Market Competitive Landscape

The Global Veterinary Care Market is highly consolidated with a few key players dominating the space. These companies are engaged in developing new diagnostics, therapeutic products, and veterinary software solutions. The competition is driven by continuous innovation and expansion into emerging markets.

Global Veterinary Care Market Analysis

Global Veterinary Care Market Growth Drivers

• Increase in Pet Ownership and Pet Humanization: The rise in pet ownership, driven by urbanization and lifestyle changes, is one of the growth factors fueling the veterinary care market. According to a recent report by the World Bank, nearly 1.4 billion pets are owned globally, with the trend of pet humanization increasing rapidly. This phenomenon, wherein pets are seen as family members, has contributed to increased spending on veterinary services, health check-ups, and specialized treatments. In countries like the United States, the number of households with pets has grown by over 68 million in recent years, indicating strong demand for veterinary care services.
• Rising Focus on Animal Health and Welfare: Government and non-government organizations across the globe are placing an increasing focus on animal health and welfare. The FAO reported that animal health programs were implemented in over 90 countries in 2023, with the number of veterinarians worldwide reaching 550,000. This growing attention has resulted in higher demand for veterinary care services, especially in livestock management, where the prevention of zoonotic diseases is critical. Programs like One Health have integrated animal, human, and environmental health, further expanding the need for veterinary professionals and services.
• Growth in Livestock Care Demand: The livestock industry, contributing over 40% to the global agricultural output, has fueled the demand for veterinary services. In 2023, the number of livestock, including cattle, poultry, and sheep, surpassed 33 billion, according to the World Bank. This growth has been coupled with increasing awareness regarding livestock disease management, vaccination, and nutrition, driving the need for veterinary services. In countries like India and China, livestock health programs have become central to national economic strategies, resulting in a substantial rise in veterinary care spending.

Global Veterinary Care Market Challenges

• High Costs of Veterinary Services: Veterinary care services, especially advanced treatments, remain prohibitively expensive for many pet owners. The average veterinary bill for surgical procedures can range from $1,000 to $5,000 in developed economies, making access to care challenging for a segment of the population. According to the World Bank, rising costs in medical equipment and pharmaceutical supplies contribute to the increased service prices, posing a barrier for both pet owners and livestock farmers in maintaining optimal animal health.
• Lack of Veterinary Infrastructure in Developing Regions: While the demand for veterinary care is rising globally, several developing countries still struggle with inadequate infrastructure to support the required services. The FAO reported that over 40% of low-income countries face veterinary service shortages, with many regions having fewer than 10 veterinarians per million livestock. This scarcity affects not only companion animal care but also livestock health management, which is crucial for food security and economic stability. Expanding infrastructure, particularly in rural areas, remains a key challenge in bridging the service gap.

Global Veterinary Care Market Future Outlook

Over the next few years, the Global Veterinary Care Market is expected to witness robust growth, fueled by technological advancements in diagnostic tools, the expansion of telemedicine, and increasing pet ownership across emerging markets. The rise in demand for preventive care, along with advancements in veterinary software solutions, will drive further market growth. The ongoing focus on animal welfare and the rising incidence of zoonotic diseases are additional factors influencing the market.

Global Veterinary Care Market Opportunities

• Telemedicine in Veterinary Care: Telemedicine is emerging as a vital tool in veterinary care, particularly in regions with limited access to in-person veterinary services. The World Organisation for Animal Health reports that telemedicine services expanded by over 50% in the past two years in Europe and North America. This model allows veterinarians to diagnose and offer advice remotely, reducing the burden on physical clinics and increasing access to care. With the global expansion of digital healthcare platforms, telemedicine presents a growth opportunity in improving veterinary service accessibility.
• Growth in Veterinary Pharmaceuticals and Vaccines: The veterinary pharmaceuticals and vaccines market is experiencing growth, driven by increasing investments in research and development. According to the FAO, global animal vaccine production surpassed 4.5 billion doses in 2022, addressing the rise in zoonotic diseases and livestock management challenges. The pharmaceutical sector is also innovating in areas such as companion animal therapeutics, with more than 300 new veterinary drugs approved by regulatory agencies worldwide. This expansion offers immense growth potential for veterinary care providers looking to expand their services.