Us Pet Medical Market Size By Applications, By Type, By End-User, By Deployment & By Technology 2032
Pet Medical Market was valued at USD 18.5 Billion in 2022 and is projected to reach USD 28.0 Billion by 2030, growing at a CAGR of 6.5% from 2024 to 2030.
The United States pet medical market has experienced significant growth in recent years, driven by increased pet ownership and advancements in veterinary care. This expansion has led to notable trends and developments within the industry.
One prominent trend is the consolidation of veterinary practices by large corporations and private equity firms. Over the past decade, the cost of veterinary services in the U.S. has risen by approximately 60%. Critics argue that this consolidation reduces competition, leading to higher prices for consumers. The Federal Trade Commission has initiated investigations into potential overpricing and diminished competition resulting from these acquisitions.
Despite these challenges, companies specializing in veterinary diagnostics have reported strong financial performance. For instance, Idexx Laboratories announced a 13% increase in earnings and a 6% rise in sales during the fourth quarter of 2024. This growth is attributed to heightened demand for advanced diagnostic products, as pet owners seek more sophisticated treatments for their animals.
The pet food sector has also seen substantial activity, with major food corporations expanding their portfolios to include premium pet food brands. General Mills, for example, acquired its fifth pet food business, Whitebridge Pet Brands' North American division, for approximately $1.45 billion. This move aims to capitalize on the burgeoning premium pet food market, which is projected to grow from $150 billion in 2024 to around $200 billion by 2030.
In addition to these developments, the integration of technology into pet care has become increasingly prevalent. Wearable devices designed to monitor pets' health and activity levels are gaining popularity among pet owners. However, the effectiveness and necessity of such devices are subjects of ongoing debate within the pet care community.
Overall, the U.S. pet medical market is undergoing significant transformation, influenced by corporate consolidation, technological advancements, and evolving consumer preferences. As the industry continues to grow, stakeholders must navigate the complexities arising from these changes to ensure the well-being of pets and the satisfaction of their owners.
Get an In-Depth Research Analysis of the Global Pet Medical Market Size And Forecast [2025-2032]
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VCA
Benfield
Zoetis
IDEXX
Heska
PetMed
Ringpai
Beijing Chong'ai International Animal Hospital
MedVet
MWI
AniCura
Ruipeng Pet
Henry Schein
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By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the Global Pet Medical Market
Dogs
Cats
Other Pets
Pharmaceuticals
Diagnostic Products
Nutrition Products
Veterinary Clinics
Specialty Animal Hospitals
Mobile Veterinary Services
Pet Pharmacies
Emergency Veterinary Services
Online Retail
Offline Retail
Pet Owners
Veterinary Professionals
Pet Breeders
Animal Shelters and Rescues
Research Institutions
Global (United States, Global and Mexico)
Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia, etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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1. Introduction of the Global Pet Medical Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. Global Pet Medical Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Global Pet Medical Market, By Type
6. Global Pet Medical Market, By Application
7. Global Pet Medical Market, By Geography
Global
Europe
Asia Pacific
Rest of the World
8. Global Pet Medical Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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