The coronavirus (COVID-19) pandemic has affected many industries in significant ways, including the pet industry. During a survey carried out in February 2022, ** percent of respondents in the United States reported acquiring a new pet. This is an increase of **** percent compared to December 2020, when ** percent of respondents reported getting a new pet. Pet ownership during the pandemic With nationwide lockdowns forcing people to spend most of their time confined at home, approximately ** percent of Americans from all generations surveyed in 2020 reported spending more time with their pets as a result of social distancing regulations. Additionally, the pandemic had its impact on the economic situation of millions of people who may have struggled with precarious work or part-time employment that was discontinued due to lockdowns, which made many pet owners concerned about the affordability of pet food and products. In fact, younger generations like Gen Z and Millennials in the United States were more likely than Baby Boomers to be worried about pet expenses during the coronavirus pandemic in 2020. Pet industry in the United States Pet industry expenditure in the United States has witnessed remarkable growth over the years and was forecast to reach nearly *** billion U.S. dollars in 2021, up from less than half that figure only ten years prior when it was approximately ** billion U.S. dollars in 2011. Among the most prominent players in the U.S. pet industry are pet food companies Mars Petcare Inc. and Nestlé Purina Petcare, generating ** billion and ** billion U.S. dollars in revenues, respectively.

During a survey conducted in 2024, it was revealed that millennials represented the biggest share of pet owners in the United States (** percent), followed in second place by Generation X (** percent). Baby Boomer's came in third, representing some ** percent of pet owners. Pet ownership in the United States Despite some fluctuations, household penetration rates for pet ownership in the United States have generally increased over the years, going from ** percent in 1988 to approximately ** percent in 2023. With millennials constituting the largest group of pet owners in the United States, they also constituted the generational group that planned to spend the most on their pets during the holidays in 2020, with an average spending of ** U.S. dollars, compared to only ** U.S. dollars of average planned spending on pets for Baby Boomers. Pet expenditure in the U.S. Pet food and treats constituted the highest selling category for pet products in the United States, with total food and treats sales reaching **** billion U.S. dollars in 2022. Vet care and product sales were the second biggest pet market category that year, generating around **** billion U.S. dollars in sales. Generally, average annual pet expenditure was higher for dog owners than for cat owners across all pet market categories in 2020.

The share of households owning a pet in the United Kingdom remained relatively stable between 2012 and 2018, hovering around an estimated percentage of 47 to 45 percent. However, pet ownership levels peaked to an unprecedented high of 62 percent in 2022, likely as a result of the coronavirus pandemic and increased time spent at home. In 2023, this figure shrank to 57 percent.

Pet ownership in the UK With more than half of UK households owning at least one pet in 2021/22, dogs and cats were the most common household pets in that year, with an estimated 13 million dogs and 12 million cats living in homes. As of 2020, the United Kingdom was the second highest-ranking European country in terms of its dog population, preceded only by Germany.

Consumer spending on pets in the UK As the pet population in the United Kingdom increased in size, so did consumer spending on pet food and pet-related products and services. Spending on pets and related products reached almost eight billion British pounds in 2020, a notable increase from a mere 2.9 billion British pounds in 2005. Among the most expensive pet-related expenditures are veterinary and pet services, which constituted almost four billion British pounds in 2020.

The statistic shows the share of pet types owned in households in the United States in 2020. According to a survey, some ** percent of respondents owned a dog at the time of the survey, and around ** percent owned a cat.

An estimated ** million households in the United States owned at least one dog according to a 2024/25 pet owners survey, making them the most widely owned type of pet across the U.S. at this time. Cats and freshwater fish ranked in second and third places, with around ** million and ** million households owning such pets, respectively. Freshwater vs. salt water fish Freshwater fish spend most or all their lives in fresh water. Fresh water’s main difference to salt water is the level of salinity. Freshwater fish have a range of physiological adaptations to enable them to live in such conditions. As the statistic makes clear, Americans keep a large number of freshwater aquatic species at home as pets. American pet owners In 2023, around ** percent of all households in the United States owned a pet. This is a decrease from 2020, but still around a ** percent increase from 1988. It is no surprise that as more and more households own pets, pet industry expenditure has also witnessed steady growth. Expenditure reached over *** billion U.S. dollars in 2022, almost a sixfold increase from 1998. The majority of pet product sales are still made in brick-and-mortar stores, despite the rise and evolution of e-commerce in the United States.

Summary data for dogs denied entry to the United States by year, January 1, 2018—December 31,2020.

In March 2020, Americans began experiencing numerous lifestyle changes due to the COVID-19 pandemic. Some reports have suggested that pet acquisition and ownership increased during this period, and some have suggested shelters and rescues will be overwhelmed once pandemic-related restrictions are lifted and lifestyles shift yet again. In May 2021, the ASPCA hired the global market research company Ipsos to conduct a general population survey that would provide a more comprehensive picture of pet ownership and acquisition during the pandemic. Although pet owners care for a number of species, the term pet owner in this study specifically refers to those who had dogs and/or cats. One goal of the survey was to determine whether data from a sample of adults residing in the United States would corroborate findings from national shelter databases indicating that animals were not being surrendered to shelters in large numbers. Furthermore, this survey gauged individuals' concerns related to the lifting of COVID-19 restrictions, and analyses examined factors associated with pet owners indicating they were considering rehoming an animal within the next 3 months. The data showed that pet ownership did not increase during the pandemic and that pets may have been rehomed in greater numbers than occurs during more stable times. Importantly, rehomed animals were placed with friends, family members, and neighbors more frequently than they were relinquished to animal shelters and rescues. Findings associated with those who rehomed an animal during the pandemic, or were considering rehoming, suggest that animal welfare organizations have opportunities to increase pet retention by providing resources regarding pet-friendly housing and affordable veterinary options and by helping pet owners strategize how to incorporate their animals into their post-pandemic lifestyles.

Reasons for dog entry denials by country for the top ten countries of origin, United States, 2020.

In March 2020, Americans began experiencing numerous lifestyle changes due to the COVID-19 pandemic. Some reports have suggested that pet acquisition and ownership increased during this period, and some have suggested shelters and rescues will be overwhelmed once pandemic-related restrictions are lifted and lifestyles shift yet again. In May 2021, the ASPCA hired the global market research company Ipsos to conduct a general population survey that would provide a more comprehensive picture of pet ownership and acquisition during the pandemic. Although pet owners care for a number of species, the term pet owner in this study specifically refers to those who had dogs and/or cats. One goal of the survey was to determine whether data from a sample of adults residing in the United States would corroborate findings from national shelter databases indicating that animals were not being surrendered to shelters in large numbers. Furthermore, this survey gauged individuals' concerns related to the lifting of COVID-19 restrictions, and analyses examined factors associated with pet owners indicating they were considering rehoming an animal within the next 3 months. The data showed that pet ownership did not increase during the pandemic and that pets may have been rehomed in greater numbers than occurs during more stable times. Importantly, rehomed animals were placed with friends, family members, and neighbors more frequently than they were relinquished to animal shelters and rescues. Findings associated with those who rehomed an animal during the pandemic, or were considering rehoming, suggest that animal welfare organizations have opportunities to increase pet retention by providing resources regarding pet-friendly housing and affordable veterinary options and by helping pet owners strategize how to incorporate their animals into their post-pandemic lifestyles.

The coronavirus pandemic affected pet acquisition and ownership patterns in the United States, with around ** percent of surveyed dog owners reporting adopting a dog from a pet shelter, welfare, or rescue organization. ***** percent of dog owners reported becoming first-time pet owners during the survey carried out in November and December of 2020.

Descriptive statistics of the study participants by their pet ownership status (No pet, Dog, and Cat).

According to Cognitive Market Research, the Pet Food market size is expected to reach USD XX Million by 2024 and is projected to grow to USD XX Million by the end of 2033, expanding at a CAGR of XX% from 2025 to 2033.

North America held the major market of more than XX% of the global revenue with a market size of USD XX million in 2023 and will grow at a compound annual growth rate (CAGR) of XX% from 2024 to 2033.
Europe accounted for a share of over XX% of the global market size of USD XX million.
Asia Pacific held a market of around XX% of the global revenue with a market size of USD XX million in 2023 and will grow at a compound annual growth rate (CAGR) of XX% from 2024 to 2033.
Latin America's market will have more than XX% of the global revenue with a market size of USD XX million in 2023 and will grow at a compound annual growth rate (CAGR) of XX% from 2024 to 2033.
Middle East and Africa held the major market of around XX% of the global revenue with a market size of USD XX million in 2023 and will grow at a compound annual growth rate (CAGR) of XX% from 2024 to 2033.

Current Scenario of the Pet Food Market

Key Drivers of the Pet Food Market

Increasing pet ownership rates have led to a greater demand for pet food-

The global demographic shift has led to an increasing trend in pet ownership. GenZ and Millenials majorly constitute the total number of pet owners. Moreover, the advent of the COVID-19 pandemic has led to a surge in the number of pet owners leading to an increased demand for pet food. According to the data published by the American Veterinary Medical Association, from 2016 and 2020, the proportion of American homes with dogs rose from 38% to 45%, but by 2022, it had bottomed off. In recent times, however, cats have gained popularity. From 25% to 26% in 2020 and then to 29% in 2022, the proportion of households with at least one cat grew marginally. Consumer spending on dogs and cats between 2020 and 2022 increased across the board. Source- https://www.avma.org/news/pet-ownership-rate-stabilizes-spending-increases

The pet food market is driven primarily by the significant increase in pet expenditure, particularly on premium pet food. Because pet owners are becoming more conscious of their pets' health and nutrition, they are becoming more willing to spend money on unique and high-quality ingredients—a trend known as premiumization. This change in customer behavior directly affects the need for a wide range of high-quality pet food ingredients. As pet owners' preferences change, manufacturers are forced to develop and improve their formulas, which drives up demand for additives that improve nutritional value, taste, and general well-being. The idea that pets are essential members of the family fuels the relationship between increased pet spending and the desire for high-quality ingredients in pet food, which leads to steady growth.In a prerecorded presentation on October 24 during the two-day AVMA Veterinary Economic and Business Forum, which was virtually held this year, Rosemary Radich, the former principal data scientist for the AVMA Veterinary Economics Division, stated, "The increase in the number of households with dogs looks large, but it occurred over a six-year period, which is pretty conservative growth." Source- (https://www.avma.org/news/pet-ownership-rate-stabilizes-spending-increases)

Awareness regarding pet health has caused a demand for organic and healthy pet food-

Owners are increasingly becoming more cognizant of their pet’s health. This has led to better diets, opting for organic pet food and customizing the pet food based on their pet’s age, health restrictions, etc. Thus, the tendency of pet owners to opt for nutritious pet food drives the demand. Owners gaining a greater understanding and awareness of pet health needs. The market for pet food ingredients is driven mostly by the significant rise in pet expenses, particularly for high-end pet food. Due to increased understanding of canine nutrition and health, pet owners are becoming more prepared to spend more on unique and high-quality ingredients—a trend known as premiumization. In a newly launched product by Hill's Pet Nutrition Pets with sensitive stomachs and skin lines can now enjoy the new MSC (Marine Stewardship Council) certified pollock and insect protein products fro...

Households now consider pets as an integral part of the family more than ever. In recent years, a record-high pet ownership rate and shifting attitudes have boosted spending on pet care services, including transportation. The broader pet care sector has flourished as pet owners sought the best for their pets. The industry's growth trajectory was disrupted by the COVID-19 pandemic, as work-from-home settings and travel restrictions left more pet owners at home than ever before, leading revenue to sink for the first time in a decade. Yet an unprecedented spike in pet ownership during the pandemic has shifted the industry's landscape, with demand for pet transportation services outpacing supply post-COVID. Pet owners' steep spending on pets has led industry-wide revenue to expand at a CAGR of 0.7% over the past five years, totaling an estimated $2.2 billion, including an expected 0.9% increase in 2024. One in five households adopted a new pet between March 2020 and July 2021, according to the American Pet Products Association. The pet ownership spike hasn't been met by an increase in pet professionals, creating an environment where demand far exceeds supply. Pet professionals have risen rates for pet owners, many of whom have eagerly planned vacations or returned to the office, allowing profit to recover from the pandemic. Pet owners have continued to book transportation services for their pets even as inflation has tightened their wallets elsewhere. Trends in pet ownership and spending aren't anticipated to subside moving forward. Rising disposable incomes will drive growth as pet owners will take more vacations and require pet transportation services. Still, most pet owners have become dependent on pet professionals, potentially building the industry's resiliency to a downturn. In all, revenue will grow at a CAGR of 1.8% to an estimated $2.4 billion over the next five years.

IntroductionAlthough multiple studies have explored behavioral changes in pets during the strict lockdown of the COVID-19 pandemic between May and July 2020, this longitudinal study uniquely investigated the phases beyond strict lockdown. The primary objective of this research was to evaluate the pandemic’s impact on pet behavior.MethodsTo achieve this goal, we conducted an online survey, completed by pet owners residing in the United States between June 2020 (including retrospective data for February and April 2020) and December 2021. The study encompassed four distinct pandemic phases: Pre-pandemic (data collected retrospectively), Strict lockdown, Prolonged lockdown, and Re-opening.Results and discussionThe data collected from surveys completed by 3,278 pet owners across one to six time points revealed declining trends in all investigated behavior problems of both dogs and cats. Concurrently, human-animal interaction activities also showed variations across different COVID-19 phases. The association between human-animal interactions and the occurrence of behavior problems underscored the importance of not only exercise quantity but also adherence to consistent schedules, particularly for dogs, in mitigating behavior problems. Interestingly, among cats, sleeping outside the bedroom was associated with a reduced occurrence of aggression, anxiety, fear, and physiological behavior changes. However, sleep location displayed limited or no association with behavior problems in dogs. In summary, this study highlights the importance of tailoring interventions to the unique needs of each species through human-animal interactions to mitigate the occurrence of behavioral problems and enhance human-animal relationships.

Surveyed dog owners in the United States stated that they spent, on average, 442 U.S. dollars on pet food per year in 2020. In comparison, cat-owning respondents claimed to spend an average of 329 U.S. dollars on pet food on an annual basis.

Pet ownership in the United States In 2019/20, dogs and cats were the most popular American household pets. There were approximately 63.4 million dog-owning households and 42.7 million cat-owning households in the United States. Other pets living in U.S. households included freshwater fish, saltwater fish, birds, reptiles, and horses. Due to the onset of the coronavirus pandemic in 2020 and the increased time spent at home, many Americans reported acquiring new pets. In a recent survey carried out in December 2020, 10 percent of respondents in the United States reported acquiring a new pet as a result of the coronavirus pandemic.

Pet expenditures in the United States As Americans increasingly acquired more and more pets over the years, pet industry expenditure in the United States increased at an impressive rate, growing by over 500 percent between 1994 and 2020. Pet food and treats captured the biggest share of pet industry sales, followed by veterinary services and related products. In terms of pet food, the dry dog food segment generated the highest amount of sales, with around 5.3 billion U.S. dollars generated in 2020.

According to Cognitive Market Research, the global pet beds market size will be USD 4512.6 million in 2024. It will enlarge at a compound annual growth rate (CAGR) of 7% from 2024 to 2031.

North America held the majority market share for more than 40% of the global revenue with a market size of USD 1805 million in 2024 and will prosper at a compound annual growth rate (CAGR) of 5.2% from 2024 to 2031.
Europe accounted for a market share of over 30% of the global revenue with a market size of USD 1353.8 million.
Asia Pacific held a market share of around 23% of the global revenue with a market size of USD 1037.9 million in 2024 and will thrive at a compound annual growth rate (CAGR) of 9% from 2024 to 2031.
Latin America had a market share of more than 5% of the global revenue with a market size of USD 225.6 million in 2024 and will flourish at a compound annual growth rate (CAGR) of 6.4% from 2024 to 2031.
Middle East & Africa had a market share of around 2% of the global revenue and was estimated at a market size of USD 90.3 million in 2024 and will heighten at a compound annual growth rate (CAGR) of 6.7% from 2024 to 2031.
The anti-rip fabric is the fastest-growing material type category of the pet beds industry.

Market Dynamics of Pet Beds Market

Key Drivers for Pet Beds Market

Increased Pet Ownership Rates and Demand for Pet Care Products to Propel Market Growth

The rising trend of pet adoption, especially among millennials and urban dwellers, is a major driver for the pet beds market expansion. People are now viewing pets as part of the family, leading to an increase in pet ownership. For example, the American Pet Products Association (APPA) sponsored the National Pet Owners Survey, which found that more than 70% of American households, or 90.5 million families, adopted a pet in 2021 and 2022. Similarly, in June 2021, the European Pet Food Federation (FEDIAF) presented its annual assessment of the pet population, which estimated that 88 million European households have a pet. In 2020, households in this region owned almost 90 million dogs. This surge in pet adoption, particularly in developed and developing regions, results in higher demand for various pet care products, including pet beds. Pet owners are willing to invest in quality products that enhance their well-being. With pets becoming more integrated into family life, the demand for comfortable, durable, and stylish pet beds continues to rise, fueling the market's growth.

(Source:https://recovery-realty.com/pet-ownership-statistics-latest-numbers-and-trends-in-2024/) (Source:https://europeanpetfood.org/_/news/new-fediaf-data-confirms-european-pet-ownership-strong-with-88-million-households-benefitting-from-pet-ownership/#:~:text=Brussels%2C%2021%20June%202021%20%E2%80%93%20Today,is%20now%20worth%2021.8%20billion.)

Rising Disposable Incomes Leading to Increased Market Spending on Pet Care Products

As global disposable incomes rise, pet owners are more willing to spend on premium and luxury pet products, including pet beds. This trend is particularly evident in developed markets such as North America and Europe, where pet humanization is a strong trend, and owners are more inclined to treat their pets as family members. With increased financial freedom, consumers are investing in high-quality pet beds, which offer benefits such as better comfort, orthopedic support, and longer durability. The rise in disposable incomes is also contributing to the growth of specialized pet beds, such as memory foam and heated options, catering to pets with special needs. This economic shift encourages pet owners to opt for higher-end products rather than budget alternatives, thereby driving the demand for premium pet beds in the market.

Restraint Factor for the Pet Beds Market

High Manufacturing Costs of Premium and Eco-Friendly Pet Beds to Limit Market Expansion

The production of high-quality and eco-friendly pet beds often involves the use of premium materials, such as organic fabrics, memory foam, or recycled materials. These materials tend to be more expensive than standard bedding materials, leading to higher production costs. Thus, manufacturers may face challenges in pricing their products competitively, particularly in price-sensitive markets. The higher costs associated with eco-friendly pet beds could limit their appeal to a smaller segment of consumers who are willing to pay a premium for sustainabil...

Europe’s Veterinary Services industry’s revenue is anticipated to expand at a compound annual rate of 1.3% to €34.9 billion over the five years through 2025. Revenue expansion has been driven by a surge in pet ownership since the COVID-19 outbreak, growing awareness of animal health and the growing availability of advanced surgical and diagnostic procedures for animals. As individuals spent prolonged periods at home during lockdowns, many were driven to purchase pets. In turn, demand for veterinary services for insurance and health checks climbed. The industry has undergone sizeable consolidation activity over the past decade, driven by private equity-backed veterinary companies achieving significant expansion into emerging sectors and regions by acquiring small practices. High agricultural income, rising pet ownership and improving consumer sentiment have strongly contributed to steady revenue growth since 2020. The expansion in prices and pet products has led to vet service providers lifting their prices, contributing to revenue growth of an estimated 2.3% in 2025. Revenue is expected to grow at a compound annual rate of 5.9% over the five years through 2030 to €46.5 billion. Pet owners typically view spending on their pet's veterinary care as essential, so spending is generally resilient to fluctuations in income. As pet ownership rates continue to climb, along with rising rates of obesity and related health issues for pets, demand for Veterinary Services will follow suit. Technological progress in human healthcare will trickle down and enhance veterinary services, fostering further growth. Wearable health monitoring devices for livestock and companion animals are gaining traction across Europe, facilitating real-time health tracking and predictive analytics. This innovation is expected to boost the industry's profitability by preventing disease outbreaks and optimising herd management for livestock.

According to Cognitive Market Research, the global Veterinary Surgical Instruments market size is USD XX million in 2023 and will expand at a compound annual growth rate (CAGR) of 21.20% from 2024 to 2031.

The global Veterinary Surgical Instruments market will expand significantly by XX% CAGR between 2024 to 2031.
North America held the major market of more than XX% of the global revenue with a market size of USD XX million in 2023 and will grow at a compound annual growth rate (CAGR) of XX% from 2024 to 2031.
Europe accounted for a share of over XX% of the global market size of USD XX million.
Asia Pacific held a market of around XX% of the global revenue with a market size of USD XX million in 2023 and will grow at a compound annual growth rate (CAGR) of XX% from 2024 to 2031.
Latin America's market will have more than XX% of the global revenue with a market size of USD XX million in 2023 and will grow at a compound annual growth rate (CAGR) of XX% from 2024 to 2031.
Middle East and Africa held the major market of around XX% of the global revenue with a market size of USD XX million in 2023 and will grow at a compound annual growth rate (CAGR) of XX% from 2024 to 2031.
The Handheld devices segment is set to rise due to technological developments for this surgical equipment and rising costs associated with animal healthcare. 
The veterinary surgical instruments market is driven by increasing pet ownership rates, awareness regarding pet health, the growing issue of obesity among pets, increasing awareness regarding pet’s oral health, and growing awareness about the benefits of neutering and sterilizing pets. 
The Large Animal segment held the highest Veterinary Surgical Instruments market revenue share in 2023.

Current Scenario of the Veterinary Surgical Instruments Market

Key Drivers of the Veterinary Surgical Instruments Market

Increasing pet ownership rates have led to a greater demand for high-quality pet healthcare-

The global demographic shift has led to an increasing trend in pet ownership. GenZ and Millenials majorly constitute the total number of pet owners. Moreover, the advent of the COVID-19 pandemic has led to a surge in the number of pet owners leading to an increased incidence of surgical procedures. According to the data published by the American Veterinary Medical Association, from 2016 and 2020, the proportion of American homes with dogs rose from 38% to 45%, but by 2022, it had bottomed off. In recent times, however, cats have gained popularity. From 25% to 26% in 2020 and then to 29% in 2022, the proportion of households with at least one cat grew marginally. Consumer spending on dogs and cats between 2020 and 2022 increased across the board.

The Veterinary Surgical Instruments market is driven primarily by the significant increase in pet expenditure, particularly on premium pet healthcare. Since pet owners are becoming more conscious of their pets' health and nutrition, they are becoming more willing to spend money on advanced and high-quality ingredients—a trend known as premiumization. This change in customer behavior directly affects the need for a wide range of high-quality surgical procedures for pets. As pet owners' preferences change, manufacturers are forced to develop and improve their formulas, which drives up demand for additives that improve nutritional value, taste, and general well-being. The idea that pets are essential members of the family fuels the relationship between increased pet spending and the desire for high-quality healthcare, which leads to steady growth. In a prerecorded presentation on October 24 during the two-day AVMA Veterinary Economic and Business Forum, which was virtually held this year, Rosemary Radich, the former principal data scientist for the AVMA Veterinary Economics Division, stated, "The increase in the number of households with dogs looks large, but it occurred over a six-year period, which is pretty conservative growth."

Thus, increasing pet ownership rates have led to a greater demand for high-quality pet healthcare.

Awareness regarding pet health has led to market expansion for Veterinary Surgical Instruments-

Owners are increasingly becoming more cognizant of their pet’s health. This has led to better diets, opting for organic pet food, increased spending on pet healthcare, etc. Thus, the tendency of pet owners ...

Europe’s Veterinary Services industry’s revenue is anticipated to expand at a compound annual rate of 1.3% to €34.9 billion over the five years through 2025. Revenue expansion has been driven by a surge in pet ownership since the COVID-19 outbreak, growing awareness of animal health and the growing availability of advanced surgical and diagnostic procedures for animals. As individuals spent prolonged periods at home during lockdowns, many were driven to purchase pets. In turn, demand for veterinary services for insurance and health checks climbed. The industry has undergone sizeable consolidation activity over the past decade, driven by private equity-backed veterinary companies achieving significant expansion into emerging sectors and regions by acquiring small practices. High agricultural income, rising pet ownership and improving consumer sentiment have strongly contributed to steady revenue growth since 2020. The expansion in prices and pet products has led to vet service providers lifting their prices, contributing to revenue growth of an estimated 2.3% in 2025. Revenue is expected to grow at a compound annual rate of 5.9% over the five years through 2030 to €46.5 billion. Pet owners typically view spending on their pet's veterinary care as essential, so spending is generally resilient to fluctuations in income. As pet ownership rates continue to climb, along with rising rates of obesity and related health issues for pets, demand for Veterinary Services will follow suit. Technological progress in human healthcare will trickle down and enhance veterinary services, fostering further growth. Wearable health monitoring devices for livestock and companion animals are gaining traction across Europe, facilitating real-time health tracking and predictive analytics. This innovation is expected to boost the industry's profitability by preventing disease outbreaks and optimising herd management for livestock.

Europe’s Veterinary Services industry’s revenue is anticipated to expand at a compound annual rate of 1.3% to €34.9 billion over the five years through 2025. Revenue expansion has been driven by a surge in pet ownership since the COVID-19 outbreak, growing awareness of animal health and the growing availability of advanced surgical and diagnostic procedures for animals. As individuals spent prolonged periods at home during lockdowns, many were driven to purchase pets. In turn, demand for veterinary services for insurance and health checks climbed. The industry has undergone sizeable consolidation activity over the past decade, driven by private equity-backed veterinary companies achieving significant expansion into emerging sectors and regions by acquiring small practices. High agricultural income, rising pet ownership and improving consumer sentiment have strongly contributed to steady revenue growth since 2020. The expansion in prices and pet products has led to vet service providers lifting their prices, contributing to revenue growth of an estimated 2.3% in 2025. Revenue is expected to grow at a compound annual rate of 5.9% over the five years through 2030 to €46.5 billion. Pet owners typically view spending on their pet's veterinary care as essential, so spending is generally resilient to fluctuations in income. As pet ownership rates continue to climb, along with rising rates of obesity and related health issues for pets, demand for Veterinary Services will follow suit. Technological progress in human healthcare will trickle down and enhance veterinary services, fostering further growth. Wearable health monitoring devices for livestock and companion animals are gaining traction across Europe, facilitating real-time health tracking and predictive analytics. This innovation is expected to boost the industry's profitability by preventing disease outbreaks and optimising herd management for livestock.