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Veterinary Hospital Market Size

Report ID: GMI6569
Published Date: Aug 2023
Report Format: PDF

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Veterinary Hospital Market Size

Veterinary Hospital Market size was valued at USD 79.1 billion in 2022 and is expected to reach USD 149.2 billion by 2032, registering a CAGR of 6.7% between 2023 - 2032. The continually growing animal population, coupled with an upward trend in pet ownership, has propelled the demand for healthcare veterinary services.

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As more households embrace pets as integral members of their families, the need for comprehensive healthcare and medical attention for animals has surged, consequently fuelling the growth of veterinary hospitals. Moreover, significant advancements in veterinary medicine have revolutionized treatment options and care standards, allowing for more accurate diagnoses, innovative therapies, and improved overall animal well-being. This progress has not only elevated the quality of care but also attracted a wider clientele seeking cutting-edge medical solutions for their beloved pets.

Veterinary Hospital Market Report Attributes
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:	Growing animal population and rising pet ownership Advancements in veterinary medicine Consolidation of animal hospitals
Pitfalls & Challenges:	Shortage of skilled veterinarians Limited access in remote areas

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Additionally, the ongoing consolidation of animal hospitals has contributed to the market's expansion. The merging of smaller practices into larger, multifaceted hospital networks has enabled greater resource pooling, streamlined operations, and enhanced specialization, ultimately resulting in enhanced service delivery and accessibility to a broader spectrum of veterinary care, thereby boosting the market size.

A veterinary hospital is a medical facility that provides medical care, treatment, and surgery for animals. Veterinary hospitals are equipped with medical equipment and staffed by veterinarians, veterinary technicians, and support staff who specialize in the health and well-being of animals.

Authors: Mariam Faizullabhoy, Gauri Wani

Frequently Asked Questions (FAQ) :

The global veterinary hospitals industry value was over USD 79 billion in 2022 and will reach USD 149.2 billion by 2032, registering a CAGR of 6.7% between 2023 - 2032.

The companion animals segment share was 65.4% in 2022 owing to the rising number of households adopting companion animals as beloved members of the family.

North America veterinary hospitals market value was USD 31.3 billion in 2022 and will record around 7% between 2023-2032, attributed to factors such as heightened awareness of animal healthcare, increasing pet ownership in the region, and advancements in medical technology.

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, and Belltowne Veterinary Center among others.