Veterinary Hospital Market Overview

The global veterinary hospital market was valued at USD 61.64 billion in 2024 and is projected to reach USD 92.51 billion by 2030, expanding at a compound annual growth rate (CAGR) of 7.1% from 2025 to 2030. Key factors driving this growth include increasing consolidation within the veterinary hospital sector, a rising companion animal population, growing rates of pet adoption, heightened awareness of animal health, and the expanding adoption of pet insurance.

For instance, pet insurance company Trupanion reported in its 2023 Annual Report that pet insurance enrollments reached 1.71 million, marking a 26% increase from 0.52 million in 2018. Pet insurance policies typically cover a range of services, including diagnostics and treatments for injuries and illnesses. Most providers offer coverage for consultation fees, medication, surgery, hospitalization, and diagnostic tests such as X-rays, CT scans, and MRIs, which are often costly. By covering these expenses, pet insurance allows pet owners to access veterinary services more affordably. Furthermore, some comprehensive policies offer lifetime animal coverage. As the financial burden of veterinary care is reduced, more pet owners are seeking routine and preventive care for their pets, thereby fueling market growth.

The rise in pet ownership has also led to increased awareness about animal health. In countries such as the United States, public health campaigns like National Pet Week help educate owners about animal wellness. Additionally, stricter regulations to prevent animal diseases and governmental initiatives to promote veterinary hospital services are further contributing to market expansion.

Global regulatory bodies are also taking action. For example, OIE International Standards—under the framework of the World Trade Organization (WTO)—provide guidelines to enhance animal health services and facilitate international health protocols. These standards help identify, monitor, and control the spread of infectious agents while ensuring that non-compliant products are rejected from trade. Such measures are expected to improve service penetration and bolster demand for veterinary hospitals globally.

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Moreover, the ongoing trend of pet humanization has spurred a global rise in pet insurance enrollments. With conditions like diabetes becoming more common among pets, treatment often involves repeated visits and long-term medication, such as insulin injections. To reduce out-of-pocket expenses, pet owners are increasingly turning to insurance. This, in turn, has driven demand for advanced veterinary hospital infrastructure and services. Reflecting this trend, CVS Group, one of the UK’s largest veterinary hospital networks, invested GBP 13.5 million (USD 17.5 million) in October 2024 to launch a new hospital in Bristol.

Key Market Trends & Insights

• North America held the largest revenue share in 2024, accounting for 36.97% of the global market.
• The Asia Pacific region is expected to witness robust growth during the forecast period.
• By animal type, companion animals dominated with a 63.58% market share in 2024.
• In terms of treatment type, the medicine segment led with 44.98% of the market share.
• The private sector accounted for 65.89% of the market in 2024.

Market Size & Forecast

• 2024 Market Size: USD 61.64 Billion
• 2030 Projected Market Size: USD 92.51 Billion
• CAGR (2025–2030): 7.1%
• Leading Region (2024): North America

Competitive Landscape

The veterinary hospital market is moderately competitive and highly fragmented, with distinct regional leaders in each country. While several companies operate across multiple regions, no single player dominates globally. Companies in this space are focusing on R&D, expanding their product and service portfolios, and enhancing distribution channels. Mergers, acquisitions, service expansions, and new hospital launches are common strategies aimed at increasing market share.

Leading Veterinary Hospital Companies

• The Animal Medical Center
• VCA Animal Hospitals
• VetStrategy
• Royal Veterinary College (RVC)
• École Nationale Vétérinaire d'Alfort (ENVA)
• Tierärztliche Hochschule Hannover (TiHo)
• Beijing Xintiandi International Animal Hospital
• MaxPetZ
• Daktari Animal Hospital
• SASH Vets
• HVM Brasil
• OVAH South Africa
• CVS Group
• Greencross Vets
• National Veterinary Associates, Inc. (NVA)
• Pets at Home Group PLC
• Animal Hospital, Inc.
• All Pets Veterinary Hospital

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Conclusion

The veterinary hospital market is poised for steady growth, driven by the increasing prevalence of pet ownership, the growing adoption of pet insurance, and heightened awareness of animal health. Regulatory support and ongoing investments in hospital infrastructure are further strengthening the market landscape. With a projected CAGR of 7.1%, the market is expected to reach USD 92.51 billion by 2030, signaling strong demand for accessible, high-quality veterinary services worldwide.