PUBLISHER: Grand View Research | PRODUCT CODE: 2040847
PUBLISHER: Grand View Research | PRODUCT CODE: 2040847
The global veterinary services market size was estimated at USD 156.3 billion in 2025 and is projected to reach USD 292.8 billion by 2033, growing at a CAGR of 8.1% from 2026 to 2033. The industry is advancing, driven by rising pet ownership and spending on animal healthcare, rising prevalence of chronic and infectious diseases in pets and livestock, and advancements in diagnostics and treatment technologies.
Growing demand for preventive care, wellness services, and specialized veterinary expertise is accelerating market growth. For instance, in September 2025, SignalPET introduced SignalPET 360°, a comprehensive radiology solution designed to streamline veterinary diagnostics. The platform integrates AI-powered immediate triage, a complete AI Report modeled after radiologist reports, and 24/7 access to board-certified radiologists, all in one system. By merging AI technology with radiologist expertise, the platform enables clinics to work more efficiently, make more confident decisions, and provide better patient care.
The veterinary services market is witnessing strong growth, driven by the rapid rise in pet ownership and the increasing focus on preventive healthcare. In 2024, 66% of U.S. households (86.9 million homes) owned a pet, with dogs and cats making up the majority. This surge in pet adoption has driven demand for routine veterinary checkups, diagnostics, and preventive services, as pet owners increasingly view animals as family members. Spending reflects this trend-pet-related expenditures reached USD 150.6 billion in 2024, up from USD 147.0 billion in 2023, with diagnostics gaining a growing share. For example, IDEXX's 2024 survey revealed that 73% of Millennials and 71% of Gen Z pet parents support annual wellness diagnostics, underscoring a generational shift toward proactive health management.
The market is further supported by increasing pet lifespans and the growing healthcare needs of senior animals. IDEXX reported that the average lifespan of dogs rose from 11.6 years in 2010 to 13.4 years in 2024, while cats now live up to 14.4 years on average. With age, diagnostic demand rises significantly-per-patient diagnostic revenue grows from USD 50 in puppies and kittens to USD 170 in geriatric pets, reaching as high as USD 395 in wellness-focused practices. This trend highlights diagnostics' central role in managing chronic and age-related conditions such as kidney disease, cancer, and orthopedic disorders, fueling steady revenue growth for veterinary providers.
Another key driver is expanding pet insurance, which lowers financial barriers to diagnostics. In January 2026, Progressive Insurance launched pet insurance for cats and dogs, offering accident, illness, and optional wellness coverage. It has been available across most U.S. states, with plans averaging USD 47 monthly, helping manage unexpected veterinary expenses. Similarly, the North American Pet Health Insurance Association (NAPHIA) reported that pet insurance premiums surpassed USD 4.27 billion in 2023, reflecting rising demand for comprehensive coverage. Insurance-driven affordability increases uptake of advanced diagnostic tools and strengthens early disease detection and preventive care adoption. In addition to companion animals, equine insurance plans also expand diagnostic coverage for conditions such as lameness and metabolic issues, broadening opportunities within the market.
Global Veterinary Services Market Report Segmentation
This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2021 to 2033. For this study, Grand View Research has segmented the global veterinary services market report based on animal, service, and region.