Summary

Pet owners and livestock producers are becoming more aware of the importance of regular veterinary care. This awareness is partly due to the increasing availability of information through the internet and educational campaigns by veterinary organizations. As people understand the benefits of preventive care, they are more likely to seek out veterinary services. The trend of pet ownership has been on the rise, particularly in developed countries. As people have more disposable income and as lifestyles become more sedentary, there is a growing desire for companionship, leading to increased pet ownership. This has resulted in higher demand for routine veterinary care, preventive services, grooming, and pet-related products. Veterinary medicine has seen significant advancements in recent years. This includes the development of more effective vaccines, minimally invasive surgical techniques, advanced diagnostic tools such as MRI and CT scans for pets, and even treatments like stem cell therapy for certain conditions. These advances improve the quality of care animals receive and often result in longer and healthier lives. Urbanization is a global phenomenon, and it has a direct impact on pet ownership. In urban areas, living spaces are often smaller, which makes smaller pets like cats and small dog breeds more practical. Additionally, urban lifestyles often lead to more single-person households, and pets can provide companionship. These factors contribute to higher pet ownership rates in cities, driving the demand for veterinary services. Changes in dietary preferences, including the shift towards organic and sustainably sourced food, have prompted the livestock industry to focus on animal health and welfare. Consumers are willing to pay more for products from animals that are raised in healthier conditions and without excessive use of antibiotics. This emphasis on animal welfare has led to an increased demand for veterinary services in agriculture. Technology has made veterinary services more accessible and efficient. Electronic health records (EHRs) have streamlined record-keeping and improved communication between veterinary practices and pet owners. Telemedicine has allowed for remote consultations and advice, increasing accessibility to veterinary care, especially in rural areas. Many pet owners consider their pets as family members, leading to increased spending on pet care. This includes regular health check-ups, grooming, dietary considerations, and specialized treatments to ensure pets' well-being.

According to the research report, “Global Veterinary Services Market Overview, 2028” published by Bonafide Research, the market is expected to cross USD 145.40 Billion market size, increasing from USD 100.16 Billion in 2022. The global market is forecasted to grow with 6.15% CAGR by 2023-28. Veterinarians can effectively provide high-quality treatment to a variety of animals because to the industries growing adoption of digital solutions. A veterinary clinic's digital transition allows for easy access to patient records and effective service. For example, modern technology enables veterinarians to do imaging tests, upload the images to the cloud, and share them with any pathology lab worldwide. The digitalization of clinical procedures raises the general level of veterinary imaging services' quality. Additionally, the growing connection between pet parents and their animals, rising disposable income, and expanding market penetration of various pet insurance plans allow pet parents to freely spend money on giving their animal the best veterinary care possible. The majority of clinics are using this opportunity to market ancillary veterinary services like wellness plans, pet daycare and boarding services. One of the other significant drivers of the veterinary services market growth is the rise in pet-related problems, including worries about the health, nutrition, and emergency care needs of the various animals. Among other things, veterinary services include the treatment of sick animals, regular health check-ups, neutering animals, preventative care, diagnostic and dental care for pets, pet vaccinations, artificial insemination, and animal health protection. The health and wellbeing of agricultural and companion animals are also covered by veterinary services, which also include procedures and pet consulting. The market is expected to be driven over the coming years by the increasing prevalence of zoonotic and food-borne illnesses as well as a large rise in the adoption of pet animals such dogs, cats, and horses. The market is also predicted to grow in the next years as a result of rising per capita animal health spending and rising public awareness of animal health.

The global veterinary services market is divided into five regions: North America, Europe, Asia Pacific, South America, the Middle East, and Africa. The Asia-Pacific region accounted for the highest CAGR of 8% by 2023–28. The growth of the market is being driven by increasing pet ownership, rising disposable incomes, and growing awareness of animal healthcare. The Asia Pacific region is also a major hub for the manufacturing of veterinary products and equipment. The region is home to several leading manufacturers of veterinary vaccines, drugs, and diagnostic kits. The veterinary services market in the Asia Pacific region is highly fragmented. There are a large number of small and medium-sized veterinary practices in the region. However, there are also a number of large multinational veterinary companies operating in the region. The digitalization of the veterinary services market is gaining traction in the Asia Pacific region. This is being driven by the increasing use of mobile devices and the internet. China is the largest market for veterinary services in the Asia Pacific region. China has a large and growing pool of skilled veterinarians. There are about 100,000 veterinarians in China, and the number is expected to grow in the coming years. The cost of veterinary care is rising in China. This is due to a number of factors, including the increasing cost of medical supplies and equipment, and the rising cost of labor. Technology is playing an increasingly important role in the veterinary services market. This includes the use of telemedicine, AI, and other technologies to improve the delivery of veterinary care. The veterinary services market in China is still in its early stages of development. This means that there are a number of new markets that are emerging, such as the pet insurance market and the veterinary telemedicine market.

The production animals segment is expected to remain the dominant market in the global veterinary services market for the foreseeable future. The increasing use of technology is also supporting the growth of the production animals segment in the global veterinary services market. Technology is being increasingly used in the livestock sector, such as in the use of electronic identification and traceability systems. This is making it easier to track the health of animals and to prevent the spread of diseases. The growing demand for organic and sustainable livestock production is also driving the demand for veterinary services for production animals. Organic and sustainable livestock production methods require animals to be treated with care and to be given access to adequate food and water. This means that farmers who use these methods need to have access to veterinary services to ensure that their animals are healthy. The demand for animal-based food is growing due to factors such as population growth, rising incomes, and urbanization. This is driving the demand for veterinary services for production animals. In addition the companion animals segment is expected to have the highest CAGR during the forecast period. Companion animals are increasingly being diagnosed with chronic diseases, such as diabetes, arthritis, and cancer. These diseases require regular veterinary care, which is driving the demand for veterinary services. Pet owners are increasingly demanding preventive care for their pets, such as vaccinations, dental care, and parasite control. This is driving the demand for veterinary services that focus on prevention. Telemedicine is the use of telecommunications technology to provide medical care remotely. This is becoming increasingly popular in the veterinary sector, as it makes it easier for pet owners to access veterinary care. Pet owners are increasingly demanding personalized care for their pets. This is driving the development of new veterinary services that focus on the individual needs of the animal.

The dog population comprises a wide variety of breeds, each with unique healthcare needs. This diversity necessitates a broad range of veterinary services, from preventive care to specialized treatments. Dogs can transmit zoonotic diseases to humans, such as rabies. Preventive measures, including vaccinations, are essential for public health, making veterinary services for dogs critical. Veterinary clinics may offer pet socialization and daycare services, allowing dog owners to provide mental and physical stimulation for their pets. As dogs age, they require specialized geriatric care, including monitoring for age-related diseases and pain management. Cancer is a common ailment in older dogs. Veterinary oncology services provide diagnosis and treatment options. In addition, Horses are often bred for various purposes, including racing, competition, and breeding for specific traits. Veterinary services offer reproductive services such as artificial insemination, pregnancy diagnosis, and management of reproductive disorders. Horses are often bred for various purposes, including racing, competition, and breeding for specific traits. Veterinary services offer reproductive services such as artificial insemination, pregnancy diagnosis, and management of reproductive disorders. Horses' nutritional needs vary depending on their age, activity level, and health condition. Veterinary services provide guidance on proper nutrition and dietary supplements.

A cattle farming is a cornerstone of the global agricultural industry. Cattle are raised for various purposes, including meat (beef), milk (dairy), and leather production. This global significance results in a substantial demand for veterinary services. Cattle have one of the largest populations among production animals worldwide. There are over a billion cattle globally, making them a dominant species in the livestock sector. Cattle come in numerous breeds, each with unique genetic traits and characteristics. Veterinarians play a vital role in managing the health, genetics, and reproduction of these diverse cattle breeds. The global dairy industry relies heavily on cattle for milk production. Dairy cattle require on-going healthcare for optimal milk yield and quality. Veterinary services ensure the health of these animals, including reproductive health and mastitis control. Cattle require vaccinations to protect against various diseases, such as bovine respiratory disease, foot-and-mouth disease, and brucellosis. Veterinarians administer and manage vaccination programs. In addition, the demand for poultry products, particularly chicken meat and eggs, is rising globally due to their affordability, nutritional value, and versatility in various cuisines. This demand drives the growth of poultry farming. Poultry farms are vulnerable to various diseases, including avian influenza, Newcastle disease, and coccidiosis. Veterinary services play a critical role in implementing biosecurity measures, disease surveillance, and vaccination programs to prevent and manage outbreaks. Poultry farms implement comprehensive vaccination programs to protect birds from contagious diseases. Veterinary services administer and manage these programs, ensuring flock immunity. Poultry breeding programs focus on genetic improvement to enhance traits such as growth rate, feed efficiency, and disease resistance. Veterinary services are involved in monitoring the health and reproductive performance of breeding stock.

The Physical Health Monitoring segment's dominance in the global veterinary services market. There is a growing emphasis on preventive healthcare for animals, similar to the focus on preventive medicine in human healthcare. Physical health monitoring is a cornerstone of preventive care, involving regular check-ups, assessments, and early disease detection. Physical health monitoring encompasses a range of comprehensive assessments, including physical examinations, vital sign measurements (e.g., temperature, heart rate, respiratory rate), and body condition scoring. These assessments provide a holistic view of an animal's health. Regular physical health monitoring helps veterinarians detect early signs of disease or health issues. Early intervention can prevent the progression of diseases, reduce treatment costs, and improve outcomes. Animals, like humans, can develop chronic diseases such as diabetes, arthritis, and heart disease. On-going physical health monitoring is essential for managing these conditions and adjusting treatment plans as needed. Obesity is a prevalent issue in companion animals. Regular physical health assessments include monitoring body condition and weight, allowing veterinarians to provide guidance on weight management and dietary adjustments. In addition, there is a growing demand for advanced diagnostic tools and technologies in veterinary medicine, similar to the trends in human healthcare. Veterinarians increasingly rely on diagnostic tests and imaging to accurately assess and diagnose health conditions in animals. Diagnostic tests and imaging play a crucial role in the early detection of diseases, infections, and health issues in animals. Early diagnosis allows for timely intervention and improved treatment outcomes. In production animal farming, such as poultry, swine, and cattle, routine diagnostic testing is essential for disease surveillance and control. Timely detection of diseases can prevent outbreaks and economic losses.

Based on end user, the market is divided into Veterinary Hospital, Veterinary Clinic, Outdoors/ Ambulatory and Online. Veterinary hospitals are equipped with advanced medical equipment and facilities, making them well-suited for diagnosing and treating a wide range of animal health conditions. They offer comprehensive medical services, including surgery, imaging, laboratory testing, and specialized care. Veterinary hospitals are equipped with advanced medical equipment and facilities, making them well-suited for diagnosing and treating a wide range of animal health conditions. They offer comprehensive medical services, including surgery, imaging, laboratory testing, and specialized care. Veterinary hospitals employ specialists with expertise in various fields, including surgery, cardiology, oncology, neurology, and dermatology. This specialization allows for in-depth diagnosis and treatment of complex cases. Veterinary hospitals offer advanced imaging services, including X-rays, ultrasound, CT scans, and MRI. These diagnostic tools aid in the accurate assessment of health conditions. In addition, online veterinary services offer unparalleled convenience and accessibility to pet owners and livestock farmers. These services can be accessed from the comfort of one's home or farm, eliminating the need for travel to a physical location. Telemedicine and online consultations have gained prominence, especially in remote or underserved areas. Pet owners and farmers can seek advice from qualified veterinarians without geographical constraints. Behavioural issues in pets are common concerns. Online consultations with veterinary behaviourists can help address these issues, providing guidance and solutions to pet owners. Online consultations allow pet owners and farmers to seek second opinions from veterinarians with diverse expertise, ensuring a comprehensive assessment of their animals' health.

Key Players Insights:

IDEXX Laboratories Inc, Mars Incorporated , Neogen Corporation, Zoetis Inc , Boehringer Ingelheim, Virbac, Dechra Pharmaceuticals plc , Elanco Animal Health Incorporated, CVS Group plc , Phibro Animal Health Corporation.

Considered in this report
• Geography: Global
• Historic year: 2017
• Base year: 2022
• Estimated year: 2023
• Forecast year: 2028

Aspects covered in this report

• Global Veterinary Services with its value and forecast along with its segments
• Country-wise Veterinary Services market analysis
• Various drivers and challenges
• On-going trends and developments
• Top profiled companies
• Strategic recommendation

Regions & Countries covered in the report:

• North America
• Europe
• Asia-Pacific
• South America
• Middle-East & Africa

By Animal Type

• Production Animals
• Companion Animals

By Companion Animals

• Dogs
• Cats
• Horses
• Others

By Production Animals

• Cattle
• Poultry
• Swine
• Others

By service Type

• Physical Health Monitoring
• Surgery
• Diagnostic Tests& imaging
• Artificial Insemination
• Grooming
• Vaccination
• Others (Biosecurity, Dental Care, etc.)

By End User

• Veterinary Hospital
• Veterinary Clinic
• outdoors/ Ambulatory
• online

The approach of the report:

This report consists of a combined approach of primary and secondary research. Initially, secondary research was used to get an understanding of the market and list the companies that are present in it. The secondary research consists of third-party sources such as press releases, annual reports of companies, and government-generated reports and databases. After gathering the data from secondary sources, primary research was conducted by conducting telephone interviews with the leading players about how the market is functioning and then conducting trade calls with dealers and distributors of the market. Post this; we have started making primary calls to consumers by equally segmenting them in regional aspects, tier aspects, age group, and gender. Once we have primary data with us, we can start verifying the details obtained from secondary sources.

Intended audience

This report can be useful to industry consultants, manufacturers, suppliers, associations and organizations related to the Veterinary Services industry, government bodies, and other stakeholders to align their market-centric strategies. In addition to marketing and presentations, it will also increase competitive knowledge about the industry.




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