Veterinary industry market overview

The global veterinary services market was valued at about USD 101,150 million in 2020, and it is expected to reach 140,285 million in 2026, with a CAGR of 5.5% over the forecast period.

Due to the recent outbreak of COVID-19, a short-term negative impact is expected on the market due to the decreased visits to veterinary hospitals and clinics. However, amid the COVID-19 pandemic, as there are stringent restrictions on travelling and strict lockdown policies globally, there is an increasing focus on veterinary telehealth services and initiatives undertaken by the government and non-government organizations for animals, which may help in driving the market growth during the pandemic. For instance, in March 2020, Wiggles, an Indian Pet care start-up, launched online veterinary consultation for pets across India.

Some facts and figures that influenced my project:

• 4,058 vet practices in the UK alone
• Vet services industry worth 42 billion and growing 1.7 billion per year
• 17.2 million pets in the UK in 2021
• The veterinary market size is worth £4 billion
• Number of veterinary businesses: 7,235
• Industry employment: 80,546
• 27.2 thousand vets in the UK in 2021

Pet owner stats:

On average 18% of owners medications cost £109 per month, £1,310.28 per year

• £25.5 billion spent on dogs per year
• £9.6 billion spent on dogs per year
• 95% of owners consider their pets as “family members”
• On average £240 is spent per month on a dog
• On average £100 is spent per month on a cat