GITNUXREPORT 2026

Pet Healthcare Industry Statistics

The pet healthcare industry is rapidly expanding globally due to rising pet ownership and spending.

Rajesh Patel

Rajesh Patel

Team Lead & Senior Researcher with over 15 years of experience in market research and data analytics.

First published: Feb 13, 2026

Our Commitment to Accuracy

Rigorous fact-checking · Reputable sources · Regular updatesLearn more

Key Statistics

Statistic 1

In 2023, 70% of U.S. dog owners spent on vet care, averaging $648 per dog annually.

Statistic 2

66 million U.S. households own pets in 2023, with average annual spending on pet health at $1,200 per household.

Statistic 3

Millennial pet owners (ages 25-40) represent 32% of pet health spenders, prioritizing preventive care.

Statistic 4

48% of Gen Z pet owners purchased pet supplements in 2023, spending 15% more than average.

Statistic 5

Women account for 71% of pet health product purchases in the U.S., with average spend of $450 yearly.

Statistic 6

Urban pet owners spend 22% more on healthcare than rural, averaging $850 vs $696 in 2023.

Statistic 7

55% of cat-owning households spent over $500 on health in 2022, up from 42% in 2019.

Statistic 8

Baby boomers (55+) comprise 28% of high spenders (> $1,000/year) on pet healthcare.

Statistic 9

62% of multi-pet households allocate 40% of pet budget to health services annually.

Statistic 10

Hispanic pet owners in U.S. grew 18% in health spending from 2020-2023, reaching $2.1B.

Statistic 11

76% of U.S. households with dogs spent on preventive care in 2023, avg $350.

Statistic 12

African American pet owners increased health spending 24% to $1.2B in 2023.

Statistic 13

58% of pet owners aged 18-34 use apps for health tracking, spending 20% more.

Statistic 14

Single pet owners spend $720 avg on health vs $950 for families in 2023.

Statistic 15

49% of high-income (>100k) households spent >$800 on pet health yearly.

Statistic 16

East Coast pet owners avg $780 health spend, 18% above national avg.

Statistic 17

61% of bird owners invested in health products, avg $250 annually in 2023.

Statistic 18

LGBTQ+ pet owners 35% more likely to buy premium health foods/supplements.

Statistic 19

44% of reptile owners spent on vet care in 2023, up 12% from 2020.

Statistic 20

Average household pet health spend in Canada was CAD 1,200 in 2023.

Statistic 21

67% of millennial dog owners spent $500+ on health products 2023.

Statistic 22

53% of cat owners under 35 prioritized mental health for pets.

Statistic 23

Low-income households (<50k) spent avg $420 on pet health 2023.

Statistic 24

72% of female-led households bought flea prevention monthly.

Statistic 25

Midwest U.S. avg pet health spend $650, 5% below national.

Statistic 26

37% of senior pet owners (65+) spent on chronic care mgmt.

Statistic 27

Fish health products spending reached $180M by hobbyists 2023.

Statistic 28

51% of Asian American pet owners used premium supplements.

Statistic 29

Small business owners spent 28% more on working dog health.

Statistic 30

Mexico pet health spend per capita $45, up 14% in 2023.

Statistic 31

In 2023, the global pet healthcare market was valued at USD 28.5 billion and is projected to reach USD 45.2 billion by 2030, growing at a CAGR of 6.8%.

Statistic 32

The U.S. pet health insurance market size was estimated at USD 1.4 billion in 2022 and expected to grow at a CAGR of 18.5% from 2023 to 2030.

Statistic 33

North America dominated the pet healthcare market with a share of 38.2% in 2022, driven by high pet ownership rates.

Statistic 34

The pet veterinary services segment accounted for over 45% of the global pet healthcare market revenue in 2023.

Statistic 35

Asia Pacific pet healthcare market is anticipated to register the fastest CAGR of 7.9% during 2023-2030 due to rising pet adoption.

Statistic 36

Global pet pharmaceuticals market size stood at USD 6.8 billion in 2022 and projected to grow to USD 10.4 billion by 2030 at CAGR 5.5%.

Statistic 37

U.S. pet healthcare expenditure reached $36.3 billion in 2022, up 10.4% from previous year.

Statistic 38

Europe pet healthcare market valued at EUR 7.2 billion in 2023, with diagnostics segment growing fastest at 8.2% CAGR.

Statistic 39

The over-the-counter (OTC) pet medications segment is expected to grow at 7.1% CAGR from 2023 to 2030 globally.

Statistic 40

Latin America pet healthcare market projected to reach USD 2.1 billion by 2028, growing at 6.3% CAGR.

Statistic 41

The global pet healthcare market size was valued at $25.8 billion in 2022 and is expected to expand at a CAGR of 7.4% from 2023 to 2030.

Statistic 42

U.S. veterinary diagnostics market estimated at $2.5 billion in 2023, growing 8.1% CAGR.

Statistic 43

Pet telemedicine market projected to grow from $450M in 2023 to $2.1B by 2030.

Statistic 44

Middle East & Africa pet healthcare market to reach $1.8B by 2029 at 6.7% CAGR.

Statistic 45

Surgical equipment segment in pet healthcare valued at $1.3B globally in 2023.

Statistic 46

India pet healthcare market expected to grow at 11.2% CAGR to $850M by 2028.

Statistic 47

Brazil pet care market, including health, hit $4.2B in 2023 with 9% growth.

Statistic 48

Companion animal healthcare dominated 78% of market share in 2023 globally.

Statistic 49

Digital health tools for pets market at $300M in 2023, CAGR 15% to 2030.

Statistic 50

China pet healthcare market valued at $4.5B in 2023, CAGR 12.5%.

Statistic 51

Preventive healthcare segment to grow at 8.3% CAGR to $15B by 2030.

Statistic 52

85% of market growth driven by dogs and cats in 2023 analysis.

Statistic 53

E-commerce pet health sales $6.2B in U.S. 2023, up 22%.

Statistic 54

U.S. pet insurance penetration reached 3.5% in 2023, up from 1.5% in 2019.

Statistic 55

Average annual pet insurance premium for dogs was $642 in 2023, reimbursing 80% claims.

Statistic 56

1.2 million pets insured in U.S. by 2023, with cats growing 22% YoY.

Statistic 57

Accident-only policies held 35% market share, averaging $300/year premium.

Statistic 58

74% of claims were for dogs, with average payout $1,200 per incident in 2023.

Statistic 59

Wellness add-ons increased adoption by 18%, covering vaccines and preventives.

Statistic 60

California led with 450,000 insured pets, 12% of national total in 2023.

Statistic 61

Multi-pet discounts used by 41% of policyholders, reducing premiums 10-15%.

Statistic 62

Chronic condition claims rose 27%, accounting for 45% of total reimbursements.

Statistic 63

Global pet insurance market valued at $10.2 billion in 2023, CAGR 16.4% to 2030.

Statistic 64

Pet insurance claims averaged $3,492 for surgeries in 2023.

Statistic 65

25% of policies included dental coverage, with avg claim $1,100.

Statistic 66

Florida had highest insurance density at 5.2% of pets covered 2023.

Statistic 67

Lifetime policies grew 30%, covering seniors over 10 years old.

Statistic 68

82% reimbursement rate standard, but exotic pets avg 65%.

Statistic 69

Corporate-owned insurers held 55% market share in 2023.

Statistic 70

Cat insurance claims up 21% for hereditary conditions like diabetes.

Statistic 71

Bundled home/pet policies saved 12% premium for 18% users.

Statistic 72

Australia pet insurance penetration at 6.1%, highest in APAC 2023.

Statistic 73

Denial rates for pre-existing conditions averaged 22% in claims.

Statistic 74

4.1% of U.S. dogs insured in 2023, vs 1.9% cats.

Statistic 75

Average lifetime claims payout $15,000 per insured dog.

Statistic 76

Texas insured 320,000 pets, 9% growth YoY 2023.

Statistic 77

68% of policies excluded breeding pets, per terms.

Statistic 78

Orthopedic claims 22% of total, avg $4,500 reimbursement.

Statistic 79

29% increase in senior pet policy enrollments 2023.

Statistic 80

UK pet insurance market £2.4B premiums in 2023.

Statistic 81

Fraud detection prevented £50M in false claims 2023.

Statistic 82

Group employer pet insurance covered 500k pets 2023.

Statistic 83

Cancer claims 18% of payouts, avg $8,200 per case.

Statistic 84

Global pet vaccines market size was USD 1.18 billion in 2022, projected to reach USD 1.98 billion by 2031 at CAGR 5.9%.

Statistic 85

Flea and tick products generated $3.4 billion in U.S. sales in 2023.

Statistic 86

Pet pain management drugs market expected to grow at 7.2% CAGR to $2.1B by 2028.

Statistic 87

Nutraceuticals for pets reached $1.5 billion globally in 2023, with joint health leading.

Statistic 88

CBD pet products sales hit $1.05 billion in 2023, up 40% YoY.

Statistic 89

Heartworm preventives prescribed to 65% of at-risk dogs, costing $120/year average.

Statistic 90

Oncology drugs for pets generated $450 million in 2023, growing 12% annually.

Statistic 91

Probiotics for pets market valued at $620 million in 2023, CAGR 8.5% forecast.

Statistic 92

Ophthalmic pet drugs segment to reach $1.2 billion by 2030 at 6.4% CAGR.

Statistic 93

Anthelmintics (dewormers) market for pets $1.2B in 2023 globally.

Statistic 94

Dermatology products for pets reached $900M sales in 2023.

Statistic 95

Stem cell therapies for pets generated $150M revenue in 2023.

Statistic 96

Appetite stimulants for cats sold 2.5M units in U.S. 2023.

Statistic 97

Antibiotic use in pets declined 8% due to stewardship programs.

Statistic 98

Behavioral meds prescribed to 12% of dogs, $400M market.

Statistic 99

Wearable health monitors for pets sold 1.8M units, $250M revenue.

Statistic 100

Allergy treatments for pets up 16%, $650M global sales 2023.

Statistic 101

Regenerative medicine in vet ortho $200M in 2023.

Statistic 102

Vaccine adverse events reported 0.02% of 50M doses in 2023.

Statistic 103

Pet diabetes treatments market $550M globally 2023.

Statistic 104

Anti-emetic drugs for pets $320M sales in 2023.

Statistic 105

Laser therapy devices in clinics 45,000 units sold.

Statistic 106

Omega-3 supplements for pets $450M market 2023.

Statistic 107

Antimicrobial resistance monitored in 85% vet pharmacies.

Statistic 108

Custom compounded meds for pets 1.2M prescriptions.

Statistic 109

At-home test kits for pets sold 3M units, $180M.

Statistic 110

Sedatives/anesthetics market $750M for vet use 2023.

Statistic 111

Probiotic efficacy studies showed 78% gut health improvement.

Statistic 112

Growth hormone therapies for pets emerging at $50M.

Statistic 113

23% of U.S. pet owners used telehealth vet services in 2023, saving average 15% on costs.

Statistic 114

There were 114,000 veterinarians in the U.S. in 2023, with demand exceeding supply by 12%.

Statistic 115

Average vet visit cost for dogs rose to $132 in 2023, up 8% from 2022.

Statistic 116

41% of vet clinics offered wellness plans in 2023, covering 75% of routine care costs.

Statistic 117

Emergency vet services utilization increased 19% post-COVID, averaging $1,200 per visit.

Statistic 118

67% of vets reported shortage of specialists in oncology for pets in 2023 survey.

Statistic 119

Mobile vet services grew 25% in 2023, serving 12 million pet visits annually.

Statistic 120

Dental procedures accounted for 28% of all vet surgeries in 2023, costing average $850.

Statistic 121

52% of veterinary practices adopted electronic health records by end of 2023.

Statistic 122

Spay/neuter surgeries performed 6.2 million times in U.S. shelters in 2023.

Statistic 123

75% of U.S. vets faced staffing shortages in 2023, delaying 20% of appointments.

Statistic 124

Orthopedic surgeries for pets increased 15% to 450,000 procedures in 2023.

Statistic 125

39% of clinics used AI diagnostics tools, improving accuracy by 22%.

Statistic 126

Routine checkups averaged 65 million visits for dogs in U.S. 2023.

Statistic 127

Cancer diagnoses in dogs rose 11%, with 6 million cases estimated 2023.

Statistic 128

28% of vets offered holistic/alternative therapies in 2023 practices.

Statistic 129

Pharmacy sales at vet clinics totaled $8.5B in U.S. 2023.

Statistic 130

Equine vet services grew 7%, serving 7 million horses in 2023.

Statistic 131

Lab testing volume up 14% to 120 million tests for pets in 2023.

Statistic 132

UK had 32,000 vet surgeons in 2023, ratio 1:280 pets.

Statistic 133

Vaccination rates for pets reached 92% in urban vets 2023.

Statistic 134

46% increase in dermatology consults for pets post-2022.

Statistic 135

Average radiology cost per pet $250, used in 35% visits.

Statistic 136

19,000 vet techs graduated in U.S. 2023, shortage persists.

Statistic 137

Obesity treatments for pets up 23%, 1 in 3 dogs affected.

Statistic 138

64% of practices integrated nutrition counseling services.

Statistic 139

Ultrasound procedures 2.1M for pets in 2023 U.S.

Statistic 140

31% of vets specialized in exotics, serving 15M pets.

Statistic 141

Boarding with health checks generated $2.8B revenue 2023.

Statistic 142

Telehealth claims processed 4.5M, avg cost $75/session.

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Imagine a sprawling industry growing faster than a puppy on a growth spurt, where Americans alone spent over $36 billion last year ensuring their furry family members live longer, healthier lives.

Key Takeaways

  • In 2023, the global pet healthcare market was valued at USD 28.5 billion and is projected to reach USD 45.2 billion by 2030, growing at a CAGR of 6.8%.
  • The U.S. pet health insurance market size was estimated at USD 1.4 billion in 2022 and expected to grow at a CAGR of 18.5% from 2023 to 2030.
  • North America dominated the pet healthcare market with a share of 38.2% in 2022, driven by high pet ownership rates.
  • In 2023, 70% of U.S. dog owners spent on vet care, averaging $648 per dog annually.
  • 66 million U.S. households own pets in 2023, with average annual spending on pet health at $1,200 per household.
  • Millennial pet owners (ages 25-40) represent 32% of pet health spenders, prioritizing preventive care.
  • 23% of U.S. pet owners used telehealth vet services in 2023, saving average 15% on costs.
  • There were 114,000 veterinarians in the U.S. in 2023, with demand exceeding supply by 12%.
  • Average vet visit cost for dogs rose to $132 in 2023, up 8% from 2022.
  • U.S. pet insurance penetration reached 3.5% in 2023, up from 1.5% in 2019.
  • Average annual pet insurance premium for dogs was $642 in 2023, reimbursing 80% claims.
  • 1.2 million pets insured in U.S. by 2023, with cats growing 22% YoY.
  • Global pet vaccines market size was USD 1.18 billion in 2022, projected to reach USD 1.98 billion by 2031 at CAGR 5.9%.
  • Flea and tick products generated $3.4 billion in U.S. sales in 2023.
  • Pet pain management drugs market expected to grow at 7.2% CAGR to $2.1B by 2028.

The pet healthcare industry is rapidly expanding globally due to rising pet ownership and spending.

Consumer Demographics & Spending

  • In 2023, 70% of U.S. dog owners spent on vet care, averaging $648 per dog annually.
  • 66 million U.S. households own pets in 2023, with average annual spending on pet health at $1,200 per household.
  • Millennial pet owners (ages 25-40) represent 32% of pet health spenders, prioritizing preventive care.
  • 48% of Gen Z pet owners purchased pet supplements in 2023, spending 15% more than average.
  • Women account for 71% of pet health product purchases in the U.S., with average spend of $450 yearly.
  • Urban pet owners spend 22% more on healthcare than rural, averaging $850 vs $696 in 2023.
  • 55% of cat-owning households spent over $500 on health in 2022, up from 42% in 2019.
  • Baby boomers (55+) comprise 28% of high spenders (> $1,000/year) on pet healthcare.
  • 62% of multi-pet households allocate 40% of pet budget to health services annually.
  • Hispanic pet owners in U.S. grew 18% in health spending from 2020-2023, reaching $2.1B.
  • 76% of U.S. households with dogs spent on preventive care in 2023, avg $350.
  • African American pet owners increased health spending 24% to $1.2B in 2023.
  • 58% of pet owners aged 18-34 use apps for health tracking, spending 20% more.
  • Single pet owners spend $720 avg on health vs $950 for families in 2023.
  • 49% of high-income (>100k) households spent >$800 on pet health yearly.
  • East Coast pet owners avg $780 health spend, 18% above national avg.
  • 61% of bird owners invested in health products, avg $250 annually in 2023.
  • LGBTQ+ pet owners 35% more likely to buy premium health foods/supplements.
  • 44% of reptile owners spent on vet care in 2023, up 12% from 2020.
  • Average household pet health spend in Canada was CAD 1,200 in 2023.
  • 67% of millennial dog owners spent $500+ on health products 2023.
  • 53% of cat owners under 35 prioritized mental health for pets.
  • Low-income households (<50k) spent avg $420 on pet health 2023.
  • 72% of female-led households bought flea prevention monthly.
  • Midwest U.S. avg pet health spend $650, 5% below national.
  • 37% of senior pet owners (65+) spent on chronic care mgmt.
  • Fish health products spending reached $180M by hobbyists 2023.
  • 51% of Asian American pet owners used premium supplements.
  • Small business owners spent 28% more on working dog health.
  • Mexico pet health spend per capita $45, up 14% in 2023.

Consumer Demographics & Spending Interpretation

The modern pet healthcare market reveals a clear, yet costly, truth: from millennials' obsession with prevention to Gen Z's supplement fixation and women dominating the purchases, the humanization of pets has created a diverse and booming economy where love, it seems, is measured in diagnostics and premium kibble.

Market Size & Growth

  • In 2023, the global pet healthcare market was valued at USD 28.5 billion and is projected to reach USD 45.2 billion by 2030, growing at a CAGR of 6.8%.
  • The U.S. pet health insurance market size was estimated at USD 1.4 billion in 2022 and expected to grow at a CAGR of 18.5% from 2023 to 2030.
  • North America dominated the pet healthcare market with a share of 38.2% in 2022, driven by high pet ownership rates.
  • The pet veterinary services segment accounted for over 45% of the global pet healthcare market revenue in 2023.
  • Asia Pacific pet healthcare market is anticipated to register the fastest CAGR of 7.9% during 2023-2030 due to rising pet adoption.
  • Global pet pharmaceuticals market size stood at USD 6.8 billion in 2022 and projected to grow to USD 10.4 billion by 2030 at CAGR 5.5%.
  • U.S. pet healthcare expenditure reached $36.3 billion in 2022, up 10.4% from previous year.
  • Europe pet healthcare market valued at EUR 7.2 billion in 2023, with diagnostics segment growing fastest at 8.2% CAGR.
  • The over-the-counter (OTC) pet medications segment is expected to grow at 7.1% CAGR from 2023 to 2030 globally.
  • Latin America pet healthcare market projected to reach USD 2.1 billion by 2028, growing at 6.3% CAGR.
  • The global pet healthcare market size was valued at $25.8 billion in 2022 and is expected to expand at a CAGR of 7.4% from 2023 to 2030.
  • U.S. veterinary diagnostics market estimated at $2.5 billion in 2023, growing 8.1% CAGR.
  • Pet telemedicine market projected to grow from $450M in 2023 to $2.1B by 2030.
  • Middle East & Africa pet healthcare market to reach $1.8B by 2029 at 6.7% CAGR.
  • Surgical equipment segment in pet healthcare valued at $1.3B globally in 2023.
  • India pet healthcare market expected to grow at 11.2% CAGR to $850M by 2028.
  • Brazil pet care market, including health, hit $4.2B in 2023 with 9% growth.
  • Companion animal healthcare dominated 78% of market share in 2023 globally.
  • Digital health tools for pets market at $300M in 2023, CAGR 15% to 2030.
  • China pet healthcare market valued at $4.5B in 2023, CAGR 12.5%.
  • Preventive healthcare segment to grow at 8.3% CAGR to $15B by 2030.
  • 85% of market growth driven by dogs and cats in 2023 analysis.
  • E-commerce pet health sales $6.2B in U.S. 2023, up 22%.

Market Size & Growth Interpretation

While the data makes it clear we're spending tens of billions globally to keep our pets healthy, one might cynically observe that the veterinary services sector has successfully convinced pet owners that unconditional love now carries a hefty co-pay.

Pet Insurance

  • U.S. pet insurance penetration reached 3.5% in 2023, up from 1.5% in 2019.
  • Average annual pet insurance premium for dogs was $642 in 2023, reimbursing 80% claims.
  • 1.2 million pets insured in U.S. by 2023, with cats growing 22% YoY.
  • Accident-only policies held 35% market share, averaging $300/year premium.
  • 74% of claims were for dogs, with average payout $1,200 per incident in 2023.
  • Wellness add-ons increased adoption by 18%, covering vaccines and preventives.
  • California led with 450,000 insured pets, 12% of national total in 2023.
  • Multi-pet discounts used by 41% of policyholders, reducing premiums 10-15%.
  • Chronic condition claims rose 27%, accounting for 45% of total reimbursements.
  • Global pet insurance market valued at $10.2 billion in 2023, CAGR 16.4% to 2030.
  • Pet insurance claims averaged $3,492 for surgeries in 2023.
  • 25% of policies included dental coverage, with avg claim $1,100.
  • Florida had highest insurance density at 5.2% of pets covered 2023.
  • Lifetime policies grew 30%, covering seniors over 10 years old.
  • 82% reimbursement rate standard, but exotic pets avg 65%.
  • Corporate-owned insurers held 55% market share in 2023.
  • Cat insurance claims up 21% for hereditary conditions like diabetes.
  • Bundled home/pet policies saved 12% premium for 18% users.
  • Australia pet insurance penetration at 6.1%, highest in APAC 2023.
  • Denial rates for pre-existing conditions averaged 22% in claims.
  • 4.1% of U.S. dogs insured in 2023, vs 1.9% cats.
  • Average lifetime claims payout $15,000 per insured dog.
  • Texas insured 320,000 pets, 9% growth YoY 2023.
  • 68% of policies excluded breeding pets, per terms.
  • Orthopedic claims 22% of total, avg $4,500 reimbursement.
  • 29% increase in senior pet policy enrollments 2023.
  • UK pet insurance market £2.4B premiums in 2023.
  • Fraud detection prevented £50M in false claims 2023.
  • Group employer pet insurance covered 500k pets 2023.
  • Cancer claims 18% of payouts, avg $8,200 per case.

Pet Insurance Interpretation

While America's pets are increasingly trading belly rubs for insurance cards, with coverage doubling since 2019, the industry's booming growth reveals a serious, costly love affair where dog surgeries average $3,500 and chronic conditions now drain nearly half of all payouts, proving that securing a policy is becoming less of a luxury and more of a necessary act of financial defense for devoted owners.

Pharmaceuticals & Products

  • Global pet vaccines market size was USD 1.18 billion in 2022, projected to reach USD 1.98 billion by 2031 at CAGR 5.9%.
  • Flea and tick products generated $3.4 billion in U.S. sales in 2023.
  • Pet pain management drugs market expected to grow at 7.2% CAGR to $2.1B by 2028.
  • Nutraceuticals for pets reached $1.5 billion globally in 2023, with joint health leading.
  • CBD pet products sales hit $1.05 billion in 2023, up 40% YoY.
  • Heartworm preventives prescribed to 65% of at-risk dogs, costing $120/year average.
  • Oncology drugs for pets generated $450 million in 2023, growing 12% annually.
  • Probiotics for pets market valued at $620 million in 2023, CAGR 8.5% forecast.
  • Ophthalmic pet drugs segment to reach $1.2 billion by 2030 at 6.4% CAGR.
  • Anthelmintics (dewormers) market for pets $1.2B in 2023 globally.
  • Dermatology products for pets reached $900M sales in 2023.
  • Stem cell therapies for pets generated $150M revenue in 2023.
  • Appetite stimulants for cats sold 2.5M units in U.S. 2023.
  • Antibiotic use in pets declined 8% due to stewardship programs.
  • Behavioral meds prescribed to 12% of dogs, $400M market.
  • Wearable health monitors for pets sold 1.8M units, $250M revenue.
  • Allergy treatments for pets up 16%, $650M global sales 2023.
  • Regenerative medicine in vet ortho $200M in 2023.
  • Vaccine adverse events reported 0.02% of 50M doses in 2023.
  • Pet diabetes treatments market $550M globally 2023.
  • Anti-emetic drugs for pets $320M sales in 2023.
  • Laser therapy devices in clinics 45,000 units sold.
  • Omega-3 supplements for pets $450M market 2023.
  • Antimicrobial resistance monitored in 85% vet pharmacies.
  • Custom compounded meds for pets 1.2M prescriptions.
  • At-home test kits for pets sold 3M units, $180M.
  • Sedatives/anesthetics market $750M for vet use 2023.
  • Probiotic efficacy studies showed 78% gut health improvement.
  • Growth hormone therapies for pets emerging at $50M.

Pharmaceuticals & Products Interpretation

While our pets' love remains priceless, the staggering billions we spend on everything from their vaccines and CBD treats to their cancer care and wearable tech prove we're investing in a simple, profound truth: a longer, healthier life together is worth every penny.

Veterinary Services

  • 23% of U.S. pet owners used telehealth vet services in 2023, saving average 15% on costs.
  • There were 114,000 veterinarians in the U.S. in 2023, with demand exceeding supply by 12%.
  • Average vet visit cost for dogs rose to $132 in 2023, up 8% from 2022.
  • 41% of vet clinics offered wellness plans in 2023, covering 75% of routine care costs.
  • Emergency vet services utilization increased 19% post-COVID, averaging $1,200 per visit.
  • 67% of vets reported shortage of specialists in oncology for pets in 2023 survey.
  • Mobile vet services grew 25% in 2023, serving 12 million pet visits annually.
  • Dental procedures accounted for 28% of all vet surgeries in 2023, costing average $850.
  • 52% of veterinary practices adopted electronic health records by end of 2023.
  • Spay/neuter surgeries performed 6.2 million times in U.S. shelters in 2023.
  • 75% of U.S. vets faced staffing shortages in 2023, delaying 20% of appointments.
  • Orthopedic surgeries for pets increased 15% to 450,000 procedures in 2023.
  • 39% of clinics used AI diagnostics tools, improving accuracy by 22%.
  • Routine checkups averaged 65 million visits for dogs in U.S. 2023.
  • Cancer diagnoses in dogs rose 11%, with 6 million cases estimated 2023.
  • 28% of vets offered holistic/alternative therapies in 2023 practices.
  • Pharmacy sales at vet clinics totaled $8.5B in U.S. 2023.
  • Equine vet services grew 7%, serving 7 million horses in 2023.
  • Lab testing volume up 14% to 120 million tests for pets in 2023.
  • UK had 32,000 vet surgeons in 2023, ratio 1:280 pets.
  • Vaccination rates for pets reached 92% in urban vets 2023.
  • 46% increase in dermatology consults for pets post-2022.
  • Average radiology cost per pet $250, used in 35% visits.
  • 19,000 vet techs graduated in U.S. 2023, shortage persists.
  • Obesity treatments for pets up 23%, 1 in 3 dogs affected.
  • 64% of practices integrated nutrition counseling services.
  • Ultrasound procedures 2.1M for pets in 2023 U.S.
  • 31% of vets specialized in exotics, serving 15M pets.
  • Boarding with health checks generated $2.8B revenue 2023.
  • Telehealth claims processed 4.5M, avg cost $75/session.

Veterinary Services Interpretation

While nearly a quarter of pet owners turned to telehealth for modest savings, the industry is straining under severe staffing shortages and rising costs, revealing a system where affordable routine care exists alongside a critical, understaffed need for advanced treatments like cancer and emergency services.

Sources & References