Market Overview

According to   Fortune Business Insights , the global   veterinary care market   is witnessing steady growth, projected to rise from  USD 41.07 billion in 2025  to  USD 59.56 billion by 2032 , registering a  CAGR of 5.45%  during the forecast period. In 2024, the market stood at  USD 39.37 billion , with  North America  holding the largest share at  37.82% , driven by advanced   pet care   infrastructure, high awareness, and increasing pet adoption.

Veterinary care encompasses the diagnosis, prevention, and treatment of diseases in animals ranging from pets like dogs and cats to livestock such as pigs and horses. This includes both general health services and specialized procedures like orthopedic surgeries and spaying/neutering. The sector also plays a critical role in mitigating zoonotic diseases—those transmissible from animals to humans.

Competitive Landscape

Leading companies are focusing on geographic expansion, innovation, and product development to strengthen their market presence. Key players include:

• Zoetis Services LLC (U.S.)
• Merck & Co., Inc. (U.S.)
• HESTER BIOSCIENCES LIMITED (India)
• Ceva (France)
• IDEXX (U.S.)
• Vetoquinol (France)
• Crown Veterinary Services Pvt. Ltd. (India)
• Antech Diagnostics, Inc. (U.S.)
• Virbac (France)
• Boehringer Ingelheim International GmbH (Germany)

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Market Dynamics

Market Drivers

1. Rising Pet Adoption Worldwide

The growing trend of pet ownership across age groups has become a significant market driver. Pets are increasingly valued for companionship, emotional support, and improved mental well-being. Developing nations like  India, Brazil, Thailand , and  Vietnam  are witnessing a surge in pet adoption, supported by online platforms spreading awareness.

According to the  American Veterinary Medical Foundation (AVMF) , between  2016 and 2020 , U.S. households owning dogs rose from  38% to 45% , while cat ownership climbed from  26% to 29%  between  2020 and 2022 . Such trends are fueling demand for preventive, diagnostic, and specialized veterinary services.

Market Restraints

1. Increasing Cost of Veterinary Services

The rising cost of veterinary care, driven by high operational expenditures, labor shortages, and regulatory pressures, is a key restraint. The  Independent Veterinary Practitioners Association  notes a  60% rise in service costs  over the past decade. As specialized care becomes more complex, the need for highly trained veterinarians raises expenses, potentially limiting access to care.

Market Opportunities

1. Integration of Advanced Technology

The integration of cutting-edge technologies such as  MRI, laparoscopy, ultrasound , and  telehealth services  is transforming animal healthcare. These innovations improve diagnosis, treatment outcomes, and client engagement. Social media is also playing a pivotal role in promoting veterinary awareness and expanding customer reach.

Key Trends

1. Increasing Focus on Animal Health Awareness

Animal health awareness campaigns by governments, NGOs, and veterinary clinics are bolstering market growth. Pet owners today are more educated on preventive healthcare, thanks to health camps, teleconsultation services, and online platforms. This growing awareness is particularly notable in emerging markets, where access to veterinary services is expanding rapidly.

Segmentation Analysis

By Animal Type

• Dogs & Cats  dominate the market due to high adoption rates and increased owner awareness regarding regular checkups and advanced treatments.
• The  horse segment  is projected to witness robust growth, aided by online adoption platforms and rising equine healthcare investments.

By Type

• Preventive and Routine Care  holds the largest market share, fueled by increasing demand for vaccinations, wellness exams, and parasite prevention.
• Diagnostic Care  is expected to grow at the  highest CAGR , with pet owners seeking early detection methods such as blood tests, biopsies, and imaging for illness prevention and management.

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Regional Insights

North America (USD 14.89 Billion in 2024)

North America leads the global veterinary care market due to high pet ownership, advanced infrastructure, and increased awareness. As per the  American Pet Products Association (APPA) ,  70% of U.S. households —about  90.5 million families —owned pets in 2021–2022. The region continues to invest in advanced diagnostic and treatment services.

Europe

Europe is projected to grow at a considerable CAGR, driven by increasing pet ownership and enhanced diagnostic capabilities in nations like  Germany, the U.K., France , and  Italy . Over  90 million households  in Europe owned pets in 2021, with cats leading in popularity.

Asia Pacific

Rapid urbanization, rising disposable income, and pet humanization trends are fueling growth in the Asia Pacific region. Countries such as  India  are seeing a boom in pet care due to favourable demographics and increased spending.

South America and Middle East & Africa

These regions are expected to experience significant growth owing to increasing pet adoption, health awareness, and support from NGOs and government-led campaigns. Countries like  Brazil ,  Argentina , and the  UAE  are emerging as key contributors to regional expansion.

Recent Developments

• December 2024 –   Mars, Incorporate, a U.S.-based company, has invested in Crown Veterinary Services to enter into India's veterinary care sector. The investment will help the company enhance its business in India and improve its customer reach.
• November 2024 –   Walmart Inc., a U.S.-based omni-channel retailer, has announced to expand its pet care services by opening five new Walmart Pet Services Centers in Georgia and Arizona. This center will offer veterinary care services such as veterinary prescription drug delivery and veterinary telehealth.

  The veterinary care market is poised for steady expansion as pet adoption continues to rise, particularly in emerging economies. Despite cost-related challenges, advancements in diagnostics and telehealth services, combined with growing animal health awareness, are expected to unlock new growth opportunities for industry players in the coming years.