Veterinary Service Market Outlook: Pet Healthcare Demand and Animal Welfare Growth Opportunities

According to IMARC Group's latest research publication, The global veterinary service market size reached USD 123.3 Billion in 2025. Looking forward, IMARC Group expects the market to reach USD 179.7 Billion by 2034, exhibiting a growth rate (CAGR) of 4.15% during 2026-2034.

How AI is Reshaping the Future of Veterinary Service Market

• Automated Medical Documentation and SOAP Notes: AI-powered voice-to-text systems automatically transcribe veterinarian-client conversations into detailed medical records, cutting documentation time in half. These tools integrate seamlessly with practice management systems, allowing veterinarians to focus more on patient care rather than paperwork.
• Predictive Diagnostics and Early Disease Detection: Machine learning algorithms analyze radiographs, ultrasounds, and MRI scans to identify health issues with exceptional accuracy, often detecting diseases years before symptoms appear. AI-powered systems can predict chronic kidney disease in cats up to two years in advance by comparing patient data against thousands of historical cases.
• Personalized Treatment Planning and Drug Response Prediction: AI analyzes genetic profiles, cellular data, and biological markers to forecast how individual pets will respond to specific medications and treatments. Platforms utilizing this technology have demonstrated survival improvements of three times longer and drug response rates four times higher for certain cancers.

Explore Updated 2026 Market Trends & Analysis

Veterinary Service Industry Overview:

The veterinary service sector is experiencing significant transformation driven by surging pet ownership and changing consumer attitudes. The United States alone now has over a billion pets globally, with American households owning 89.7 million dogs and 76.3 million cats as total pet population reaches 163.6 million animals. Americans spent $157 billion on pets with $41.4 billion dedicated specifically to veterinary care, representing substantial growth as 97% of pet owners now consider their animals family members deserving premium healthcare services.

Veterinary Service Market Trends & Drivers

Rising pet ownership across demographics is fueling unprecedented demand for veterinary services nationwide. Over 66% of U.S. households now own pets, with dog-owning households comprising 45.5% of all American homes compared to just 31.6% three decades ago. Millennials lead pet ownership trends, while 86.8% of dog owners and 77.1% of cat owners maintain relationships with regular veterinary practices. Average veterinary visit costs reached $200, with dog owners spending $220 per visit and routine preventive care accounting for 81.6% of appointments. The emotional bond between pets and owners drives consistent spending even during economic uncertainty, as 77% of pet owners report economic conditions haven't impacted their commitment to pet care.

Growing awareness of preventive healthcare and specialized services is reshaping veterinary practice models across the industry. Pet insurance adoption continues accelerating with 5.7 million pets insured at year-end representing premium volumes of $3.9 billion, enabling owners to afford advanced treatments previously considered cost-prohibitive. Routine wellness visits dominate appointment types as owners prioritize vaccination schedules, dental care, and early disease detection over reactive emergency care. The industry shows rapid AI adoption with 83.8% of veterinary professionals now familiar with AI tools and 29.2% actively using them daily or weekly for tasks ranging from diagnostic imaging analysis to automated record-keeping, demonstrating the profession's enthusiasm for technology that reduces administrative burden while improving patient outcomes.

Corporate consolidation and retail integration are transforming veterinary service delivery channels nationwide. Mars Incorporated operates the largest veterinary hospital network while Petco expanded to over 280 full-service hospitals plus 1,400 weekly mobile clinics, and Walmart partnered with PetIQ to launch integrated Pet Services centers offering routine veterinary care alongside grooming. CityVet opened new clinics in McKinney while CVS Group acquired Ark Animal Services to expand its veterinary footprint. PetIQ operates wellness centers across 2,600 retail partner locations in 41 states despite closing 149 underperforming locations to optimize operations. Tractor Supply acquired Allivet to provide pharmacy services for 37 million Neighbor's Club members, while Chewy plans to open four to eight veterinary practices. These retail partnerships make veterinary care more accessible and convenient for pet owners seeking integrated shopping and healthcare experiences.

Leading Companies Operating in the Global Veterinary Service Industry:

• City Veterinary Care
• CVS (UK) Limited
• Fetch! Pet Care
• Greencross Vets
• Mars, Incorporated
• NVA General Practice
• Petco Animal Supplies, Inc.
• PetIQ, LLC
• Pets at home PLC
• Petsmart LLC

Veterinary Service Market Report Segmentation:

By Service:

• Surgery
• Diagnostic Tests and Imaging
• Physical Health Monitoring
• Others

Surgery represents the largest class, as these procedures encompass routine spaying and neutering alongside emergency interventions and specialized operations for injuries and illnesses.

By Animal Type:

• Companion Animal
• Farm Animal

Based on the animal type, the market has been segmented into companion animal and farm animal.

By End Use:

• Veterinary Clinic
• Veterinary Hospital

Veterinary clinic exhibits a clear dominance in the market owing to their role as primary contact points offering routine preventive care, vaccinations, and basic diagnostic services.

Regional Insights:

• North America (United States, Canada)
• Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
• Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
• Latin America (Brazil, Mexico, Others)
• Middle East and Africa

North America exhibits a clear dominance in the veterinary service market due to high pet ownership rates, substantial disposable income, and advanced veterinary infrastructure.

Recent News and Developments in Veterinary Service Market

• February 2024: CVS Group PLC announced the acquisition of Ark Animal Services Limited, a first opinion small animal veterinary practice operating over two sites in Mobberley near Knutsford and Northwich in Cheshire. This acquisition expands CVS Group's veterinary service footprint in the United Kingdom.
• January 2024: CityVet announced it will open its first clinic in McKinney, expanding the Dallas-based network of veterinary practices into new markets. The expansion reflects growing demand for accessible, high-quality veterinary care in suburban areas across Texas.
• October 2024: Walmart launched Pet Services centers in collaboration with PetIQ, offering routine veterinary care including vaccines, wellness exams, minor medical services, and grooming services. Walmart plans continued expansion of these integrated pet care centers nationwide.
• October 2024: Tractor Supply Company signed a definitive agreement to acquire Allivet, a privately held online pet pharmacy. The acquisition introduces convenient, low-cost pet pharmacy solutions for Tractor Supply's 37 million Neighbor's Club members who previously accessed PetRx platform services.
• August 2024: PetIQ announced a $1.5 billion public-to-private transaction with Bansk Group, marking significant private equity investment in the veterinary services sector. The company operates wellness centers across 2,600 retail partner locations in 41 states providing affordable veterinary services.

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