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Animal Hospitals And Veterinary Clinics Market: Projections and Trends Shed Light on 8.0% CAGR and $111.58 Billion Growth by 2029
Animal Hospitals And Veterinary Clinics Market
What Is The Projected Market Size Of The Global Animal Hospitals And Veterinary Clinics Market And Its Growth Rate?
The animal hospitals and veterinary clinics market is experiencing remarkable growth due to several contributing factors:
- Market size has increased significantly from $78.2 billion in 2024 to $84.43 billion in 2025 with a CAGR of 8.0%.
- Factors like increased penetration of pet insurance, increased spending on pets, rise in animal healthcare expenditure, and increased pet population have fueled the growth during the historic period.
- Market is projected to grow to $111.58 billion in 2029 at a CAGR of 7.2% owing to increasing pet ownership, consumption of animal-derived products, supportive government initiatives, and disease prevalence among animals.
- Prominent trends include launching of mobile veterinary units, usage of electronic health records, application of artificial intelligence in animal care, introducing new screening tests for animals, and increasing emphasis on e-commerce in the pet care industry.
What Is Driving The Growth In The Animal Hospitals And Veterinary Clinics Market?
The surge in the adoption of companion pets plays a crucial role in driving the market for animal hospitals and veterinary clinics. The increasing humanization of pets as family members are pushing this adoption trend. Reports from the American Veterinary Medical Association show a correlation between the human-animal bond and pet spending. As per the American Society for the Prevention of Cruelty to Animals, around 3.2 million shelter animals are adopted each year in the USA. Americans spends approximately $17 billion annually on veterinary care in hospitals, clinics, and for food. Even in China, pet owners are observed to spend over 5,000 yuan per pet. All these factors contribute to the expected growth of the animal hospital and veterinary clinic market.
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Who Are the Key Players Driving Animal Hospitals And Veterinary Clinics Market Growth?
Significant players in the animal hospitals and veterinary clinics market include:
- Mars Inc
- National Veterinary Associates Inc
- CVS Group Plc
- Apiam Animal Health Limited
- Medivet Group Limited
- Pets at Home Group Plc
- MSPCA-Angell
- Veterinary Purchasing Co. Ltd.
- Greencross Vets Limited
- Zabeel Veterinary Hospital
- International Center for Veterinary Services
- And many others
What Are The Key Trends In The Animal Hospitals And Veterinary Clinics Market?
Distinctive market trends include:
- Launch of mobile veterinary units
- Introduction of electronic health records
- Use of artificial intelligence in animal care
- Development of new screening tests for animals
- Increasing emphasis on e-commerce in the pet care industry
What Are The Segments Of The Global Animal Hospitals And Veterinary Clinics Market?
The market is typically segmented into:
- By Type: Consultation, Surgery, Medicine, Other Types
- By Animal Type: Livestock, Companion Animals
- By End-User: Animal Care, Animal Rescue, Other End Users
Which Region Leads The Animal Hospitals And Veterinary Clinics Market?
North America emerged as the leader in the animal hospitals and veterinary clinics market in 2024, followed by Asia-Pacific. The market spans across several regions including Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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What Is Covered In The Animal Hospitals And Veterinary Clinics Market Global Market Report?
- Market Size Analysis: Analyzes the Animal Hospitals And Veterinary Clinics Market size by key regions, countries, product types, and applications.
- Key Player Focus: Focusses on key players to define their market value, share, and competitive landscape.
- Market Contribution: Evaluates contributions of different segments to the overall Animal Hospitals And Veterinary Clinics Market growth.
- Growth Trends Analysis: Examines individual growth trends and prospects.
- Growth Drivers: Details key factors, opportunities, and drivers influencing market growth.
- Industry Challenges: Analyzes the challenges and risks affecting the Animal Hospitals And Veterinary Clinics Market.
- Competitive Developments: Analyzes competitive developments such as expansions, agreements, and new product launches.
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