Austin, Aug. 13, 2025 (GLOBE NEWSWIRE) — Veterinary Hospital Market Size & Growth Analysis
According to SNS Insider, the global Veterinary Hospital Market was valued at USD 58 billion in 2023 and is anticipated to reach USD 107.73 billion by 2032, growing at a CAGR of 7.13% over the forecast period of 2024–2032. The U.S. veterinary hospital market reached USD 16.74 billion in 2023 and is set to maintain a robust 6.92% CAGR, supported by increased pet adoption, higher spending on animal wellness, and rapid integration of advanced diagnostics and treatment facilities.
The sector’s growth is fueled by an expanding range of specialty services, including oncology, orthopedics, cardiology, and advanced imaging for companion animals. The surge in insurance coverage for pets and heightened awareness about preventive care are further amplifying demand.
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Market Overview
Veterinary hospitals have evolved into full-service care facilities equipped with advanced diagnostic laboratories, imaging systems, surgical theaters, and intensive care units. As pet owners increasingly view their animals as family members, the demand for high-quality, specialized veterinary care continues to surge.
North America remains a leader, with the U.S. market benefitting from a dense network of state-of-the-art veterinary hospitals, strong pet insurance penetration, and a thriving veterinary services workforce. Europe is seeing rapid modernization of veterinary facilities, while Asia-Pacific emerges as a lucrative growth hub due to urbanization and rising middle-class pet ownership.
Major Players Analysis Listed in this Report are:
- Covetrus (Prescription Management Software, Diagnostic Imaging Equipment)
- Medtronic (Pulse Oximeters, Ventilators)
- B. Braun Vet Care GmbH (Infusion Pumps, Surgical Instruments)
- Avante Animal Health (Surgical Tables, Anesthesia Machines)
- Shenzhen Mindray Animal Medical Technology Co., LTD. (Patient Monitors, Ultrasound Systems)
- Midmark Corporation (Examination Tables, Dental Operatory Equipment)
- Vetland Medical Sales & Services, LLC (Anesthesia Systems, Monitoring Equipment)
- Masimo (Pulse Oximetry Devices, Capnography Monitors)
- Dispomed Ltd (Veterinary Dental Units, Anesthesia Machines)
- Nonin (Pulse Oximeters, CO2 Detectors)
- IDEXX Laboratories (Catalyst Dx Chemistry Analyzer, ProCyte Dx Hematology Analyzer)
- Lojer (Hospital Beds, Operating Tables)
- Stryker Corporation (Surgical Equipment, Imaging Systems)
- Karl Storz Endoskope (Endoscopy Equipment, Surgical Instruments)
- SunTech Medical, Inc. (Vet40 Surgical Vital Signs Monitor, Blood Pressure Monitors)
- ARVS (Veterinary Medical Equipment, Technical Services)
- DRE Veterinary (now Avante Animal Health) (Surgical Equipment, Imaging Systems)
- Hygia Health Services (Reusable Medical Devices, Sterilization Services)
- SafeAir AG (Air Purification Systems, Surgical Smoke Evacuators)
- HyperBranch Medical Technology, Inc. (Surgical Sealants, Adhesion Barriers)
Veterinary Hospital Market Report Scope
| Report Attributes | Details |
| Market Size in 2023 | US$ 58 billion |
| Market Size by 2032 | US$ 107.73 billion |
| CAGR | CAGR of 23.44% From 2024 to 2032 |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Data | 2020-2022 |
| Regional Analysis | North America (US, Canada, Mexico), Europe (Germany, France, UK, Italy, Spain, Poland, Turkey, Rest of Europe), Asia Pacific (China, India, Japan, South Korea, Singapore, Australia, Rest of Asia Pacific), Middle East & Africa (UAE, Saudi Arabia, Qatar, South Africa, Rest of Middle East & Africa), Latin America (Brazil, Argentina, Rest of Latin America) |
Segment Analysis
By Animal:
The companion animals segment is further segmented as dogs, companion cats, and others (birds, rabbits, etc.) the companion animals segment dominated the market in 2023 with a share of around 62% due to a rise in adoption rates of dogs and cats, strong awareness towards pet well-being, and higher per capita spending on veterinary services. However, providing advanced treatment options like minimally invasive surgeries and chronic disease management means putting requests for companion pets in high demand. Equine care is the fastest-growing segment, driven by growing expenditures in premium horse healthcare of sports, recreational, and stud horses.
By Type:
In 2023, the medicine segment had a market share of 45% due to its deployment in preventive as well as therapeutic drugs like vaccines, antibiotics, and antiparasitics. Chronic diseases are a source of great revenue, but the dominance is driven by increased awareness of preventive care and chronic disease management. An increasing number of surgical procedures supported by new technologies in veterinary surgery techniques and the availability of 3D printing for prosthetics is the fastest growing segment, with a focus on orthopedic and dental surgeries.
By Sector:
The private sector dominated the veterinary hospital market, accounting for 64% of it in 2023 on the back higher infrastructure quality and diagnostic facilities as well as specialized care available at these facilities as against public institutions For example, the fastest-growing segment is outside of commercial veterinary practices e.g. public veterinary hospitals on the back of increased govt funding and animal welfare programs such as mobile clinic programs or rural animal health initiatives.
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Veterinary Hospital Market Segmentation
By Type
- Medicine
- Surgery
- Consultation
By Animal
- Companion Animals
- Farm Animals
By Sector
Regional Analysis
North America accounted for the largest share of the veterinary hospital market in 2023 on account of factors such as strong trends in pet ownership, high disposable income levels, and an early adoption of new technologies in veterinary hospitals. Asia-Pacific is a rapidly growing region, owed to up surging pet adoption in urban areas as well as increasing disposable income and high investment from the government in veterinary healthcare infrastructure.
Recent Developments
- February 2024: The U.S. Department of Agriculture has declared that it will be taking additional measures to enhance the animal health infrastructure, including the creation and expansion of veterinary hospitals to both augment current facilities and create new services.
- March 2024: Mars Veterinary Health implemented AI-based diagnostic imaging tools in all of its hospitals, providing faster and more accurate diagnostics.
- January 2024: Zoetis announced a collaboration with a major veterinary chain to launch advanced telehealth platforms that are connected to in-hospital services.
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Table of Contents – Major Key Points
Specific USP Offerings for Veterinary Hospital Market Report
- Veterinary Telehealth & Remote Diagnostics Potential – Outlook of telemedicine penetration in veterinary care, and future revenue channels.
- Forestalls Care Penetration Index – Measurement of uptake of niche services such as oncology, cardiology, orthopedics, and exotic animal care across geographies.
- Veterinary Infrastructure Modernization Tracker – Measuring upshift in hospital facility improvements as well as technology integration and service expansion.
- Pet Insurance Impact Analysis– A comprehensive examination of the effect of higher pet insurance take-up on the spending habits in veterinary hospitals.
- AI & Robotics in Veterinary Surgery– Scrutinizing Profitability, Cost-effectiveness, and Adoption of Robotic-assisted and AI-driven Surgeries.
- Sustainability & Green Hospital Practices – Monitoring eco-friendly veterinary practices and the cost savings benefits in the future.
- Client Retention & Loyalty Program Benchmarking– Evaluating what veterinary hospitals are doing in the way of memberships, preventive care packages, and loyalty benefits to ensure client retention.
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