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Analysis of Key Market Segments Driving the Veterinary Services Market
Veterinary Services Market
Projected Market Size of the Veterinary Services Market by 2030
The veterinary services market is poised for significant growth, expected to reach $237.06 billion by 2030. This expansion corresponds to a compound annual growth rate (CAGR) of 7.4% during the forecast period. The market's upward trajectory is fueled by factors including the adoption of advanced diagnostic technologies, rising demand for mobile veterinary care, growth in genetic and pathology testing, increased focus on preventive healthcare, and the development of specialty and referral clinics. Key trends shaping this growth include the broadening availability of mobile veterinary services, growth in specialized practices, the rise of onsite and offsite laboratory testing, wider acceptance of wellness care programs, and increasing expenditure on companion animal health.
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Leading Companies Driving the Veterinary Services Market
Several major corporations dominate the veterinary services landscape, including Mars Inc., Zoetis Inc., VCA Inc., IDEXX Laboratories Inc., Qiagen N.V., Pets at Home Group PLC, BluePearl Pet Hospital, Dechra Pharmaceuticals plc, PetIQ LLC, CVS Group Plc, Banfield Pet Hospital, Neogen Corporation, Vetpartners, Greencross Limited, National Veterinary Associates Inc., Pathway Vet Alliance LLC, Ethos Veterinary Health LLC, Southern Veterinary Partners, VetCor, VetStrategy, National Veterinary Care Ltd., VetnCare, PetVet Care Centers, Kremer Veterinary Services, Armor Animal Health, Addison Biological Lab Inc., FirstVet AB, and Vetnovo.
Significant Acquisition Enhancing Veterinary Services Capacity
In October 2023, EQT AB's BPEA Private Equity Fund VIII, a Sweden-based investor specializing in animal health and healthcare services, acquired VetPartners Limited for an undisclosed sum. This strategic acquisition aims to expand VetPartners' clinical capabilities and geographic presence across Australia, New Zealand, and Singapore. Moreover, EQT plans to boost investments in diagnostic technology, recruitment, and professional development programs for veterinary teams. VetPartners Limited is an Australia-based provider offering comprehensive veterinary care through a network of general practice clinics and specialty hospitals that collectively handle millions of animal visits each year.
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Innovations Shaping the Future of Veterinary Services
Veterinary service providers are increasingly adopting innovative solutions such as virtual veterinary care platforms to enhance accessibility and improve service delivery. These telemedicine platforms allow pet owners to consult licensed veterinarians via video calls from the comfort of their homes, helping reduce wait times and broaden service reach beyond traditional clinic settings. For example, in July 2025, TelaVets Inc., a US-based veterinary technology firm, launched a virtual veterinary platform connecting pet owners nationwide with licensed veterinarians for affordable online consultations. This service offers transparent pricing, easy scheduling, and expert care from home, while integrating smoothly with standard veterinary services. However, regional differences in digital access and regulations may affect adoption rates in some locations.
Segmentation Overview of the Veterinary Services Market
The veterinary services market is divided into several segments for a detailed understanding:
1) By Type: Animal Hospitals and Veterinary Clinics, Veterinary Laboratory Testing Services
2) By Service Type: Onsite Services, Offsite Services
3) By Animal Type: Livestock, Companion Animals
4) By Expenditure Type: Public, Private
Further Subsegments Include:
- Animal Hospitals and Veterinary Clinics: General Veterinary Practices, Specialty Veterinary Hospitals, Mobile Veterinary Services, Referral Veterinary Clinics
- Veterinary Laboratory Testing Services: Diagnostic Testing, Pathology Services, Microbiology Services, Genetic Testing Services
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