Veterinary Hospital Market Trends

Veterinary Hospital Market Trends

The market is experiencing a significant upsurge, driven by the simultaneous trends of growing animal populations and increasing pet ownership. The global population of companion animals, such as dogs, cats, and small mammals, has been steadily expanding due to factors such as urbanization, improved living standards, and changing societal attitudes towards pets. For instance, according to the 2021-2022 National Pet Owners Survey conducted by the American Pet Products Association (APPA), 70% of the U.S. households, or about 90.5 million families, own a pet. This surge in animal companionship has translated into higher demand for veterinary services, ranging from routine check-ups to specialized treatments. As more households’ welcome pets into their lives, the need for comprehensive medical care and attention has intensified, spurring the expansion of veterinary hospitals.