Veterinary Hospital Market Size
With a CAGR of 6.7%, Veterinary Hospital Market size was valued USD 79.1 billion in 2022 and is expected to reach USD 149.2 billion by 2032. The need for healthcare veterinary services has been driven by an increasing trend in pet ownership as well as by the always rising animal population.
To get key market trends
The demand for thorough healthcare and medical attention for animals has exploded as more homes welcome pets as natural members of their families, therefore supporting the expansion of veterinary hospitals. Furthermore, major developments in veterinary medicine have transformed treatment choices and care standards, therefore enabling more accurate diagnosis, creative therapies, and better general animal well-being. Along with improving the standard of treatment, this development has drawn more customers looking for innovative medical solutions for their cherished animals.
| Report Attribute | Details |
|---|---|
| Base Year | 2022 |
| Veterinary Hospital Market Size in 2022 | USD 79.1 Billion |
| Forecast Period | 2023 to 2032 |
| Forecast Period 2023 to 2032 CAGR | 6.7% |
| 2032 Value Projection | USD 149.2 Billion |
| Historical Data for | 2018 to 2022 |
| No. of Pages | 180 |
| Tables, Charts & Figures | 313 |
| Segments covered | Animal Type, Services, Ownership, and Region |
| Growth Drivers |
|
| Pitfalls & Challenges |
|
What are the growth opportunities in this market?
Furthermore helping to drive the growth of the market are the continuous merging of animal hospitals. Smaller practices combined into bigger, multifarious hospital networks has allowed better resource pooling, simplified operations, and increased specialization—all of which eventually results in improved service delivery and accessibility to a wider spectrum of veterinary care, so increasing the market size.
A veterinary hospital is a medical establishment offering animal-based medical treatment, care, and surgery. Veterinarians, veterinary technicians, and support staff with an eye toward animal health and well-being staff veterinary facilities, which also have medical equipment.
COVID-19 Impact
The veterinary hospital market was only marginally changed by the COVID-19 epidemic. Veterinary facilities' total income has dropped as a result of the limitations and lockdowns placed in place to stop the virus from spreading, which have decreased pet visits and non-essential operations. Due to budgetary restrictions or concern of exposure, many pet owners have postponed regular check-ups and elective procedures, which has reduced the patient count. Furthermore compromising veterinary hospitals' capacity to offer complete treatment are supply chain interruptions influencing the availability of necessary medical supplies and drugs.
Pet ownership rose, though, as the epidemic went on and people stayed more at home. Virtual consultations and telemedicine, which give a creative approach to offer non-emergency treatment and consultations remotely, also become rather popular. The epidemic made clear how important strong supply chains for veterinary goods and drugs are to satisfy changing needs of owners and pets.
Veterinary Hospital Market Trends
The pet business is exploding right now unlike it has ever done! From adorable small pets to loving cats and energetic dogs, more and more people are having furry friends. For what purpose? Well, our pockets are a bit thinner, more of us live in cities, and we now view dogs as members of our households. Consider the USA only as one example. Like 90.5 million families, a large poll by the American Pet Products Association revealed that a shockingly seventy percent of homes had a furry, feathery, or scaly buddy! And given all the new pet owners, demand for vets is explosive. People want their pets to receive the best care, from sophisticated procedures to elegant treatments, thus we are not only talking about simple visits. It is therefore not surprising that veterinary hospitals are now sprouting all over!
Veterinary Hospital Market Restraint
Hey there, pet enthusiasts! Finding great vets is getting harder as more and more individuals are treating their furry pets with first-rate attention. It seems like a race we are regretfully losing. According to a Mars Veterinary Health analysis, the U.S. is experiencing a veterinarian shortfall. 75 million animals are expected to be left without the required care by 2030. For animal hospitals, a major issue is insufficient qualified veterans. Though it's difficult when they lack hands on deck, they want to provide pets the best care available. We also need vets that know their business both inside and out as our dogs live longer and acquire more complex health concerns. This shortfall affects not only veterans but also makes it more difficult to obtain your fur baby the required treatment. And, guess what? It gets more difficult in places lacking numerous veterans as well. Ultimately, the entire veterinarian business suffers as well as our dogs.
Veterinary Hospital Market Analysis
Learn more about the key segments shaping this market
When it comes to who gets the most care at veterinary hospitals, it's all about our beloved pets and farm animals. In 2022, the furry friends took the lead, with doggies, kitties, horses, and other pals accounting for 65.4% of the business. Why such a huge lead? Well, more and more people are bringing pets into their homes as part of their families. In the U.S. alone, millions of dogs and cats find loving homes each year. And with that comes a growing need for vet care. Pet owners are also getting more serious about their furry buddies' health. They're investing in regular checkups, vaccinations, and other preventive care. They're also shelling out for special treatments and wellness programs. So, not only are there more pets out there, but they're also getting better care, which means more business for veterinary hospitals. It's a win-win for everyone involved!
Learn more about the key segments shaping this market
The veterinary hospital scene is like a big pie, and it's cut into different slices based on the services they offer. These slices include general vet stuff, like checkups and shots, as well as more specialized services like surgery and diagnostics. Out of all the slices, the biggest one by far is general veterinary services. Why? Well, more and more people are getting pets, and they're taking better care of them than ever before. Plus, there are a lot of new and fancy vet treatments out there, and people are willing to pay for them. So, vets are beefing up their general services, offering everything from regular checkups to vaccinations. Technology is also playing a big role in the growth of the vet hospital industry. It's making it easier for vets to diagnose and treat animals, and it's also making it more convenient for pet owners to get the care they need.
When it comes to the world of animal care, veterinary hospitals come in two main flavorsthose owned by private businesses and those run by government agencies. The private sector is currently the bigger fish, with a market value of about $48.4 billion in 2022. And it's expected to keep growing steadily, at a rate of 7.2% per year, until 2032. Why the surge in popularity? Well, people are getting more well-off and spending more money on their furry friends. And with the trend toward premium pet care, private veterinary hospitals are stepping up their game to offer top-notch services. Another driving force is the rise of mobile pet care hospitals. These on-the-go clinics bring vet services right to your doorstep. For example, there's Premium Vet Care in Florida, which has mobile vets ready to provide a wide range of care for your beloved companion animals.
Looking for region specific data?
Hey there, animal lovers! North America has been a superstar in the veterinary hospital game, raking in a whopping $31.3 billion in 2022. And get thisthey're projected to keep growing by 7% every year until 2032. That's like a super-charged zoomie! Why is North America so paw-some? Well, it's a combination of things. People are getting more and more into caring for their furry friends, bringing in more pets than ever before. Plus, science is always coming up with new and amazing ways to keep our companions healthy and happy. And let's not forget the dedication of all those amazing veterinary hospitals. They're equipped with the latest and greatest tools and staffed with experts who are passionate about giving your pets the best possible care. They're setting the bar high when it comes to helping our four-legged family members live long, happy lives. So, mark my wordsNorth America is going to keep being a leader in the veterinary hospital industry. They're committed to providing exceptional care and setting new standards for animal well-being. It's an exciting time to be a pet parent!
Veterinary Hospital Market Share
Major market players operating in the veterinary hospital market include
- CVS Group Plc
- Greencross Vets
- National Veterinary Associates, Inc. (NVA)
- Pets at Home Group PLC
- Mars Incorporated
- Animal Hospital, Inc.
- All Pets Veterinary Hospital
- Innovative Petcare
- Blaine Central Veterinary Clinic
- Belltowne Veterinary Center
These industry players majorly adopt various strategies including collaborations, acquisitions, mergers, and partnerships to create a global footprint and sustain market competition.
Veterinary Hospital Industry News
- In May 2023, CVS acquired Top Vets Ltd., which trades as Riverside Veterinary Practice, also known as Riverside Vets. This helped the company to expand its local business.
- In March 2021, CVS Group acquired Market Hall Vets, a first opinion practice operating three sites across Carmarthenshire in southwest Wales. This helped the company to expand its business.
The veterinary hospital market research report includes an in-depth coverage of the industry with estimates & forecast in terms of revenue in USD from 2018 to 2032, for the following segments
Click here to Buy Section of this Report
By Animal Type
- Companion animals
- Dogs
- Cats
- Horses
- Other companion animals
- Farm animals
- Cattle
- Swine
- Poultry
- Other farm animals
By Services
- General veterinary services
- Diagnostic services
- Surgical services
- Other services
By Ownership
- Private
- Public
The above information is provided for the following regions and countries
- North America
- U.S.
- Canada
- Europe
- Germany
- UK
- France
- Spain
- Italy
- Rest of Europe
- Asia Pacific
- Japan
- China
- India
- Australia
- Rest of Asia Pacific
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- South Africa
- Saudi Arabia
- Rest of MEA
Related Reports
FAQ'S
For a single, multi and corporate client license, the report will be available in PDF format. Sample report would be given you in excel format. For more questions please contact:
Within 24 to 48 hrs.
You can contact Sales team (sales@marketinsightsresearch.com) and they will direct you on email
You can order a report by selecting payment methods, which is bank wire or online payment through any Debit/Credit card, Razor pay or PayPal.
Discounts are available.
Hard Copy