Press release
Global Animal Hospitals And Veterinary Clinics Market to Reach $111.58 Billion by 2029, Growing at 7.2% CAGR
Animal Hospitals And Veterinary Clinics
The trend of adopting companion pets worldwide has been fuelling the market for animal hospitals and veterinary clinics. This surge in adoption can be attributed to pets being humanized, with more and more pet owners considering them as part of the family. The American Veterinary Medical Association report suggests a link between the human-animal bond's strength and pet-related expenditure. The American Society for the Prevention of Cruelty to Animals (ASPCA) states that approximately 3.2 million shelter animals are adopted annually in the USA. It was also revealed in a study that Americans have expended around $17 billion on veterinary care including hospital treatments, clinics and food. Similarly, pet owners in China have spent over 5,000 yuan per pet. Consequently, there is an anticipation of the animal hospital and veterinary clinic market expanding in the projected period.
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What is the projected compound annual growth rate (CAGR) of the animal hospitals and veterinary clinics market from 2025 to 2034, and what factors influence it?
In recent times, the market size for animal hospitals and veterinary clinics has witnessed robust growth. The market, which stood at $78.2 billion in 2024, is projected to reach $84.43 billion in 2025, indicating a compound annual growth rate (CAGR) of 8.0%. The surge during the historic period is due to factors like the expanding coverage of pet insurance, escalated spending on pet care, increased expenditure on animal health, and a rise in the pet population.
The market for animal hospitals and veterinary clinics is projected to experience significant growth in the coming years, reaching a value of $111.58 billion by 2029 with a compound annual growth rate (CAGR) of 7.2%. This positive trend in the forecast period can be attributed to several factors such as the rise in pet ownership, higher intake of animal-based products, beneficial government policies, and a surge in disease occurrence among animals. Key trends predicted during the forecast period encompass the advent of mobile veterinary services, the implementation of electronic health records for animals, the application of artificial intelligence in animal healthcare, the creation of novel animal screening tests, and a growing focus on e-commerce in the pet care sector.
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How are the latest trends influencing the growth of the animal hospitals and veterinary clinics market?
A multitude of veterinary care providers are resorting to the incorporation of big data technologies to enhance the quality of treatment offered to pets, livestock, and other animals. This advanced technology is instrumental in diagnosing and detecting possible medical conditions. Big data aids veterinarians in pinpointing the particular diseases plaguing cattle and pets in distinct localities and regions. For example, Bayer Healthcare Animal has launched applications intended to identify early signs of disease in animals, thus expediting the process of diagnosis and subsequent treatment. Key vet care providers, such as VCA Inc., Banfield Pet Hospitals, and Greencross Limited, are increasingly turning to big data analysis as a solution for pet health complications.
What are the major segments of the animal hospitals and veterinary clinics market and their role in driving growth?
The animal hospitals and veterinary clinics market covered in this report is segmented -
1) By Type: Consultation, Surgery, Medicine, Other Types
2) By Animal Type: Livestock, Companion Animals
3) By End-User: Animal Care, Animal Rescue, Other End Users
Subsegments:
1) By Consultation: Routine Check-ups, Preventive Care, Nutritional Counseling, Behavioral Consultation
2) By Surgery: Soft Tissue Surgery, Orthopedic Surgery, Emergency Surgery, Neutering And Spaying Procedures
3) By Medicine: Vaccinations, Infectious Disease Treatments, Chronic Condition Management, Pain Management
4) By Other Types: Diagnostic Services (Imaging, Lab Tests), Emergency And Critical Care, Rehabilitation And Physiotherapy, Boarding And Grooming Services
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Which regions are key players in the growth of the animal hospitals and veterinary clinics market?
North America was the largest region in the animal hospitals and veterinary clinics market in 2024. Asia-Pacific was the second-largest region in the global animal hospitals and veterinary clinics market. The regions covered in the animal hospitals and veterinary clinics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Who are the key firms paving the way for growth in the animal hospitals and veterinary clinics market?
Major companies operating 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, Simplyhealth Group, Paw Veterinary Clinic, Chengdu Vet Hospital, Canberra Veterinary Hospital, Shengpu Pet Hospital, Blacks Vets Dudley Hospital, Frantz Cappe, Clinique Veterinaire Metivet, Alizee Vet Clinic, Cristina Cardone, Abbey House Veterinary Hospital, The Animal Medical Center, Premier Veterinary Group plc, Movet, Primo Veterinary Medicines Trading LLC, ANIMED Veterinary Clinic, Vetwest Animal Hospitals, Veterinary Vinohrady Brno, Centre Vétérinaire Laval, P3 Veterinary Partners, Audrain Veterinary Clinic Fuzzy, Maure, Mimados, Peru Animal Hospital, Miami County Veterinary Clinic, Cindy Fouts, Kokomo Animal Hospital, Royal Veterinary College, AL KUBARA VETERINARY MEDICINES TRADING LLC, Eurovets Veterinary Suppliers, Bryanston Veterinary Hospital (BVH), Kampala Animal Hospital.
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What Is Covered In The Animal Hospitals And Veterinary Clinics Global Market Report?
•Market Size Forecast: Examine the animal hospitals and veterinary clinics market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the animal hospitals and veterinary clinics market for a structured understanding.
•Key Players Overview: Analyze major players in the animal hospitals and veterinary clinics market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the animal hospitals and veterinary clinics market.
•Segment Contributions: Evaluate how different segments drive overall growth in the animal hospitals and veterinary clinics market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the animal hospitals and veterinary clinics market.
•Industry Challenges: Identify potential risks and obstacles affecting the animal hospitals and veterinary clinics market.
•Competitive Landscape: Review strategic developments in the animal hospitals and veterinary clinics market, including expansions, agreements, and new product launches.
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