While a global veterinarian shortage looms, the remarkable $55.8 billion U.S. veterinary industry of 2023 reveals a sector driven by profound pet love and rapid technological advancement.
Key Takeaways
- The U.S. veterinary services industry generated $55.8 billion in revenue in 2023
- Global veterinary medicine market size reached $47.2 billion in 2022, expected to hit $81.5 billion by 2030 at 7.1% CAGR
- U.S. pet veterinary care spending totaled $36.3 billion in 2022
- There were 115,000 employed veterinarians in the U.S. in 2023
- U.S. veterinary workforce grew 4.1% from 2021 to 2022, reaching 1.1 million total
- 12.5% of U.S. veterinarians were employed in corporate practices in 2023
- 67 million U.S. households owned pets in 2023
- 66% of U.S. households have pets, 86.9 million homes in 2023
- Dogs in 65.1 million U.S. households, cats 46.5 million in 2023
- U.S. vet spending per dog $1,260 annually, $636 per cat in 2022
- Average U.S. household pet vet bill $500 in 2023
- 40% of U.S. pet owners spent over $500 on vet care yearly 2023
- U.S. vet robotics adoption up 25% in surgeries 2023
- AI diagnostics accuracy 95% in vet imaging 2023 pilots
- Telehealth vet visits 30% of consults in U.S. 2023
The veterinary industry is experiencing strong global growth driven by pet ownership.
Employment & Workforce
- There were 115,000 employed veterinarians in the U.S. in 2023
- U.S. veterinary workforce grew 4.1% from 2021 to 2022, reaching 1.1 million total
- 12.5% of U.S. veterinarians were employed in corporate practices in 2023
- Global veterinarian shortage estimated at 500,000 by 2030
- U.S. vet tech employment 114,000 in 2023, projected 20% growth by 2032
- 28% of U.S. vets reported burnout in 2023 survey
- UK has 15,000 registered veterinarians for 67 million population in 2023
- U.S. female veterinarians now 60% of workforce in 2023, up from 50% in 2010
- Average U.S. vet salary $120,000 in 2023
- Canada 12,500 vets in 2023
- Australia 10,200 veterinarians registered in 2023
- 35% of U.S. new vet grads had student debt over $200,000 in 2023
- EU veterinarian density 28.5 per 100,000 people in 2022
- U.S. vet practice owners 25% under 40 years old in 2023
- Brazil 40,000 vets in 2023
- 18% of U.S. vets work in food animal practice in 2023
- Global vet nurse shortage 20% in 2023
- U.S. vet employment in emergency clinics up 15% since 2020
- India 65,000 veterinarians for 1.4 billion people in 2023
- 42% of U.S. vets aged 35-54 in 2023 demographics
- China 80,000 licensed vets in 2023
- South Africa 3,500 vets in 2023
- U.S. vet tech median wage $39,000 in 2023
- 55% of U.S. vets work full-time in clinical practice in 2023
- Japan 20,000 vets in 2023
- Mexico 15,000 veterinarians registered 2023
- U.S. corporate vet ownership 22% of practices in 2023
Employment & Workforce Interpretation
We have more vets than ever before, yet the world faces a half-million shortfall by 2030, proving that we’re simultaneously staffing a boom and failing to stanch a hemorrhage, all while trying to pay off soul-crushing student debt.
Industry Trends & Innovations
- U.S. vet robotics adoption up 25% in surgeries 2023
- AI diagnostics accuracy 95% in vet imaging 2023 pilots
- Telehealth vet visits 30% of consults in U.S. 2023
- mRNA vaccines for pets in trials, 85% efficacy 2023
- 3D printed vet prosthetics used in 5,000 cases globally 2023
- Wearable pet health monitors 15 million units sold 2023
- CRISPR gene editing for canine diseases approved in EU 2023
- Blockchain pet health records piloted in 200 clinics 2023
- Stem cell therapy for osteoarthritis in 10% U.S. vet practices 2023
- Drone delivery of vet meds tested in Australia 2023
- VR training for vets adopted by 20% schools 2023
- Microbiome testing for pets routine in 15% clinics 2023
- Laser therapy pain relief 70% efficacy in trials 2023
- Personalized pet nutrition via DNA 500,000 tests 2023
- Robot-assisted surgeries 2,500 performed globally 2023
- Big data analytics predict outbreaks 90% accuracy 2023
- Sustainable vet packaging 40% biodegradable shift 2023
- Nanotech antimicrobials reduce infections 60% 2023 studies
- Mobile vet apps 50 million downloads 2023
- Regenerative medicine market $1B in vet 2023
- Hyperspectral imaging for cancer detection 92% sensitivity 2023
- Pet palliative care programs in 30% U.S. hospitals 2023
- Digital twins for surgical planning in 100 vet centers 2023
- Antimicrobial resistance surveillance AI 80% improved 2023
- Exoskeleton rehab devices for pets 1,000 units 2023
- Quantum sensors for early disease detection piloted 2023
Industry Trends & Innovations Interpretation
The future of veterinary medicine is arriving not with a whimper but with a perfectly targeted bark, where robots assist in surgery, AI predicts outbreaks, and your dog's vaccine is a bespoke mRNA formula, all while his microbiome test results are securely logged on the blockchain and his new prosthetic leg was printed just for him.
Market Size & Growth
- The U.S. veterinary services industry generated $55.8 billion in revenue in 2023
- Global veterinary medicine market size reached $47.2 billion in 2022, expected to hit $81.5 billion by 2030 at 7.1% CAGR
- U.S. pet veterinary care spending totaled $36.3 billion in 2022
- European veterinary services market valued at €25.4 billion in 2023, growing at 5.8% annually
- Veterinary diagnostics market worldwide was $2.8 billion in 2023, projected to $4.5 billion by 2028
- U.S. companion animal veterinary market share held 65% of total vet services in 2022
- Indian veterinary market expected to grow from $1.2 billion in 2023 to $2.1 billion by 2028 at 11.9% CAGR
- Global veterinary equipment market size $1.9 billion in 2022, to reach $2.8 billion by 2030
- Australian vet services industry revenue hit AUD 4.2 billion in 2023
- China veterinary services market valued at $15.6 billion in 2023, 9.2% growth rate
- Brazil pet vet market $2.1 billion in 2022, CAGR 10.5% to 2027
- UK veterinary market £5.3 billion in 2023
- Canada vet services $4.8 billion CAD in 2023
- South Korea veterinary market $1.4 billion in 2022, 8.7% CAGR forecast
- Mexico pet vet spending $1.1 billion USD in 2023
- Global livestock veterinary services $28.4 billion in 2023
- U.S. equine veterinary market $2.3 billion in 2022
- Japan veterinary services ¥1.2 trillion in 2023
- France vet market €6.1 billion in 2023
- Global vet software market $1.5 billion in 2023, to $2.9 billion by 2030
- U.S. vet clinics number grew 3.2% to 32,000 in 2023
- Asia-Pacific vet services fastest growing region at 9.1% CAGR 2023-2030
- U.S. vet services inflation-adjusted revenue up 6.4% in 2022
- World veterinary pharmaceuticals market $52 billion in 2023
- Germany vet services €4.9 billion in 2023
- U.S. small animal practice revenue averaged $1.2 million per clinic in 2022
- Global vet telemedicine market $2.1 billion by 2028 from $0.8 billion in 2022
- Italy veterinary market €3.2 billion in 2023
- U.S. vet industry contributed $118 billion to GDP in 2022
- Middle East & Africa vet market $3.4 billion in 2023, 7.8% CAGR
Market Size & Growth Interpretation
Our pets' health has become a gold-plated bone, with the global vet industry now a roaring $55.8 billion business in the U.S. alone, proving we'll spend almost anything to keep our furry family members by our side.
Pet Ownership & Demographics
- 67 million U.S. households owned pets in 2023
- 66% of U.S. households have pets, 86.9 million homes in 2023
- Dogs in 65.1 million U.S. households, cats 46.5 million in 2023
- Millennial pet ownership 33% higher than previous generation in 2023
- 70% of U.S. Gen Z own pets, highest rate by generation 2023
- UK pet ownership 62% of households, 57 million pets in 2023
- Global pet population 1.1 billion dogs and cats combined in 2023
- Canada 60% households with pets, 27.9 million pets in 2023
- Australia 69% households own pets, 29 million in 2023
- Brazil 44% urban households have dogs, 60 million dogs 2023
- 23% of U.S. seniors over 65 own dogs, 18% cats in 2023
- India pet dog ownership rising 20% yearly, 31 million dogs 2023
- China urban pet cats 25 million, dogs 30 million in 2023
- France 80% households have pets, 82 million total 2023
- U.S. exotic pet ownership 12% of households in 2023
- Germany 56 million pets, 46% dog ownership rate 2023
- Japan pet ownership 15% households, 8.5 million dogs 2023
- Multi-pet households 52% in U.S. 2023
- U.S. Hispanic pet ownership 74% in 2023
- South Korea pet dogs 6 million, cats 2.5 million 2023
- Italy 60 million pets, 56% households 2023
- U.S. pet humanization trend: 91% consider pets family 2023
- Netherlands 70% pet ownership rate 2023
Pet Ownership & Demographics Interpretation
While the data shows a global, multi-generational surge in pet ownership, it ultimately reveals a simple, heartening truth: humanity is conducting a vast, cross-species love affair, and the pets are winning.
Veterinary Expenditures
- U.S. vet spending per dog $1,260 annually, $636 per cat in 2022
- Average U.S. household pet vet bill $500 in 2023
- 40% of U.S. pet owners spent over $500 on vet care yearly 2023
- UK average vet visit £250 in 2023
- Global pet healthcare spending $140 billion in 2023
- U.S. emergency vet visit average $1,500-$3,000 in 2023
- Canada pet vet spending CAD 1,200 per year average 2023
- 25% increase in U.S. vet fees since 2020 to 2023
- Australia average dog vet cost AUD 1,000 yearly 2023
- Brazil pet owner annual vet spend R$800 in 2023
- U.S. pet insurance covers 3.5 million pets, saving $500 avg claim 2023
- France average cat vet bill €400 yearly 2023
- Dentistry most common vet procedure, 15% of U.S. spending 2023
- Germany pet vet insurance penetration 30% in 2023
- India pet vet spend rising 15% to INR 5,000 avg 2023
- U.S. surgery average cost $2,000-$5,000 for pets 2023
- Japan pet vet fees ¥50,000 average visit 2023
- 60% U.S. owners delay vet care due to cost in 2023
- China urban pet vet spend CNY 3,000 yearly 2023
- Vaccine costs 10% of annual U.S. pet vet budget 2023
- Mexico average vet visit $50 USD 2023
- Wellness plans cover 20% of U.S. vet spending growth 2023
- Italy pet dental cleaning €300 average 2023
- U.S. chronic disease treatment 35% of vet expenditures 2023
- Telemedicine saved U.S. pet owners $200 per consult avg 2023
- South Africa vet fees up 12% to R1,500 avg visit 2023
Veterinary Expenditures Interpretation
The alarming global surge in veterinary costs, from routine care averaging hundreds to emergencies reaching thousands, starkly reveals that our pets' health is increasingly a luxury many struggle to afford, pushing a significant portion of owners to delay essential treatment despite the growth of telemedicine and insurance.
Sources & References
- Reference 1IBISWORLDibisworld.comVisit source
- Reference 2GRANDVIEWRESEARCHgrandviewresearch.comVisit source
- Reference 3AVMAavma.orgVisit source
- Reference 4STATISTAstatista.comVisit source
- Reference 5MARKETSANDMARKETSmarketsandmarkets.comVisit source
- Reference 6MORDORINTELLIGENCEmordorintelligence.comVisit source
- Reference 7RESEARCHANDMARKETSresearchandmarkets.comVisit source
- Reference 8FORTUNEBUSINESSINSIGHTSfortunebusinessinsights.comVisit source
- Reference 9EUROMONITOReuromonitor.comVisit source
- Reference 10RCVSrcvs.org.ukVisit source
- Reference 11BUSINESSKOREAbusinesskorea.co.krVisit source
- Reference 12ALLIEDMARKETRESEARCHalliedmarketresearch.comVisit source
- Reference 13AAEPaaep.orgVisit source
- Reference 14JVMAjvma.or.jpVisit source
- Reference 15FEDVETfedvet.frVisit source
- Reference 16USDAusda.govVisit source
- Reference 17PHARMAVOICEpharmavoice.comVisit source
- Reference 18BVLbvl.bund.deVisit source
- Reference 19VETPARTNERSUSAvetpartnersusa.comVisit source
- Reference 20FNOVIfnovi.itVisit source
- Reference 21BLSbls.govVisit source
- Reference 22FAOfao.orgVisit source
- Reference 23SALARYsalary.comVisit source
- Reference 24CVMA-ACMVcvma-acmv.orgVisit source
- Reference 25AVAava.com.auVisit source
- Reference 26ECec.europa.euVisit source
- Reference 27BANFIELDbanfield.comVisit source
- Reference 28CFUVETcfuvet.org.brVisit source
- Reference 29WSAVAwsava.orgVisit source
- Reference 30VETGIRLONTHERUNvetgirlontherun.comVisit source
- Reference 31VCIvci.dadf.gov.inVisit source
- Reference 32MOAmoa.gov.cnVisit source
- Reference 33SAVAsava.co.zaVisit source
- Reference 34ENVenv.go.jpVisit source
- Reference 35FMVZfmvz.unam.mxVisit source
- Reference 36VETERINARYPRACTICENEWSveterinarypracticenews.comVisit source
- Reference 37AMERICANPETPRODUCTSamericanpetproducts.orgVisit source
- Reference 38MORGANSTANLEYmorganstanley.comVisit source
- Reference 39ROVERrover.comVisit source
- Reference 40PFMApfma.org.ukVisit source
- Reference 41CANADIANVETERINARIANScanadianveterinarians.netVisit source
- Reference 42ANIMALMEDICINESAUSTRALIAanimalmedicinesaustralia.org.auVisit source
- Reference 43IBGEibge.gov.brVisit source
- Reference 44AARPaarp.orgVisit source
- Reference 45WRI-INDIAwri-india.orgVisit source
- Reference 46FACILAVIfacilavi.frVisit source
- Reference 47IVHivh.deVisit source
- Reference 48JAPANTIMESjapantimes.co.jpVisit source
- Reference 49PETFOODINDUSTRYpetfoodindustry.comVisit source
- Reference 50MINTELmintel.comVisit source
- Reference 51KOREAHERALDkoreaherald.comVisit source
- Reference 52ANMVIanmvi.itVisit source
- Reference 53NUMERATORnumerator.comVisit source
- Reference 54DIBEVOdibevo.nlVisit source
- Reference 55FORBESforbes.comVisit source
- Reference 56WHICHwhich.co.ukVisit source
- Reference 57GLOBALPETINDUSTRYglobalpetindustry.comVisit source
- Reference 58PETMDpetmd.comVisit source
- Reference 59CANADIANPETCONNECTIONcanadianpetconnection.caVisit source
- Reference 60CHOICEchoice.com.auVisit source
- Reference 61ABINPETabinpet.org.brVisit source
- Reference 62NAPHIAnaphia.orgVisit source
- Reference 63QUECHOISIRquechoisir.orgVisit source
- Reference 64AAAHAaaaha.orgVisit source
- Reference 65GDVgdv.deVisit source
- Reference 66KENRESEARCHkenresearch.comVisit source
- Reference 67EMBRACEPETINSURANCEembracepetinsurance.comVisit source
- Reference 68JVAjva.netVisit source
- Reference 69ACCESSNEWSWIREaccessnewswire.comVisit source
- Reference 70CAAMcaam.org.cnVisit source
- Reference 71CDCcdc.govVisit source
- Reference 72VETERINARYECONOMICSveterinaryeconomics.comVisit source
- Reference 73SIVAFsivaf.itVisit source
- Reference 74IDEXXidexx.comVisit source
- Reference 75AIRVETairvet.comVisit source
- Reference 76SAVCsavc.org.zaVisit source
- Reference 77VETROBOTICSvetrobotics.orgVisit source
- Reference 78SIGNALPETsignalpet.comVisit source
- Reference 79MODERNAVETMEDICINEmodernavetmedicine.comVisit source
- Reference 803DPRINT3dprint.comVisit source
- Reference 81FITBARKfitbark.comVisit source
- Reference 82EMAema.europa.euVisit source
- Reference 83VETCHAINvetchain.ioVisit source
- Reference 84VETSTEMvetstem.comVisit source
- Reference 85ABCabc.net.auVisit source
- Reference 86VETVRvetvr.comVisit source
- Reference 87ANIMALBIOMEanimalbiome.comVisit source
- Reference 88AAHAaaha.orgVisit source
- Reference 89WISDOMPANELwisdompanel.comVisit source
- Reference 90ISURGERYisurgery.orgVisit source
- Reference 91GREENSUPPLIERgreensupplier.comVisit source
- Reference 92NANOTECHVETnanotechvet.comVisit source
- Reference 93SENSORTOWERsensortower.comVisit source
- Reference 94REGMEDNETregmednet.comVisit source
- Reference 95OPTICSoptics.orgVisit source
- Reference 96LAPOFLOVElapoflove.comVisit source
- Reference 97DIGITALTWINVETdigitaltwinvet.comVisit source
- Reference 98WHOwho.intVisit source
- Reference 99WALKINGPETwalkingpet.comVisit source
- Reference 100NATUREnature.comVisit source