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2025 U.S. Industry Statistics & Market Forecast - Veterinary Services
Market Size & Industry Statistics
The total U.S. industry market size for Veterinary Services:
Industry statistics cover all companies in the United States, both public and private, ranging in size from small businesses to market leaders.
In addition to revenue, the industry market analysis shows information on employees, companies, and average firm size.
Investors, banks, and business executives use growth rates and industry trends to understand the market outlook and opportunity.
| Statistics | 2020 2021 2022 2023 2024 | |
|---|---|---|
| Market Size (Total Sales/Revenue) |
Order at top of page | |
| Total Firms | ||
| Total Employees | ||
| Average Revenue Per Firm | ||
| Average Employees Per Firm | ||
| Average Revenue Per Employee | ||
Market Forecast
Market forecasts show the long term industry outlook and future growth trends. The following extended five-year forecast projects both short-term and long-term trends.
| Forecast / Industry Outlook | 2025 | 2026 | 2027 | 2028 | 2029 |
|---|---|---|---|---|---|
| Market Forecast ($ millions) | |||||
| Projected Industry Growth Rate (%) | |||||
Industry Insights
Major trends affect the Veterinary Services industry include:- Increasing use of telemedicine and telehealth
- Rising pet ownership globally
- Growing specialization in veterinary care
- Expansion of pet insurance
- Technological advancements in diagnostic tools
- Greater focus on preventive care and wellness
- Shortage of veterinary professionals
- Integration of artificial intelligence and machine learning
- Increasing costs of veterinary care
- Shift towards eco-friendly and sustainable practices
- Demand for mobile veterinary services
- Enhancements in veterinary software systems
- Growing market for veterinary pharmaceuticals and vaccines
- Increased regulation and oversight in animal welfare and care
- Expansion of services for exotic and unusual pets
Product & Services Breakdown
Research products and services in the Veterinary Services industry generating sales. Note that products are broken into categories with different levels of classification.| Product Description | Number of Companies | Sales ($ millions) | Percent of Total Sales |
|---|---|---|---|
Industry Total |
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Pet Care Services |
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Pet Grooming Services |
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Pet Boarding Services |
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Pet Funeral Services |
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Other Pet Care Services |
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Veterinary Services |
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Routine Veterinary Examinations |
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Surgical Treatment Of Animals |
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Non-Surgical Treatment Of Animals |
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Veterinary Laboratory Services |
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Veterinary Inspection And Disease Investigation Services |
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Resale Of Merchandise |
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Resale Of Other Merchandise |
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Resale Of Pet And Animal Supplies |
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All Other Receipts |
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All Other Operating Receipts |
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U.S. Geographic Distribution: Revenue Statistics by State
Market Size by State ($ millions) indicates how the industry's competition is distributed throughout the country. State-level information can identify areas with higher and lower industry market share than average.
Income Statement (Average Financial Metrics)
Financial metrics provide a snapshot view of a benchmark "average" company. Key business metrics show revenue and operating costs. The data collected covers both public and private companies.| Industry Average | Percent of Sales (Industry Benchmark) |
|
|---|---|---|
| Total Revenue | Order at top of page |
|
| Operating Revenue | ||
| Cost of Goods Sold | ||
| Gross Profit | ||
Operating Expenses | ||
| Pension, profit sharing plans, stock, annuity | ||
| Repairs | ||
| Rent paid on business property | ||
| Charitable Contributions | ||
| Depletion | ||
| Domestic production activities deduction | ||
| Advertising | ||
| Compensation of officers | ||
| Salaries and wages | ||
| Employee benefit programs | ||
| Taxes and Licenses | ||
| Bad Debts | ||
| Depreciation | ||
| Amortization | ||
| Other Operating Expenses | ||
| Total Operating Expenses | ||
| Operating Income | ||
| Non-Operating Income | ||
| EBIT (Earnings Before Interest and Taxes) | ||
| Interest Expense | ||
| Earnings Before Taxes | ||
| Income Tax | ||
| Net Profit Net Income | ||
Financial Ratio Analysis
Financial ratio information can be used to benchmark how a Veterinary Services company compares to its peers. Accounting statistics are calculated from the industry-average for income statements and balance sheets.| Profitability & Valuation Ratios | Industry Average |
|---|---|
| Company valuation can be measured based on the firm's own performance, as well as in comparison against its industry competitors. These metrics show how the average company in the Veterinary Services industry is performing. | |
| Profit Margin Gross Profit Margin, Operating Profit Margin, and Net Profit Margin. Show company earnings relative to revenues. |
|
| Return on Equity (ROE) Return on Equity (ROE) is net income as a percentage of shareholders' equity. Shareholders' Equity is defined as the company's total assets minus total liabilities. ROE shows how much profits a company generates with the money shareholders invested (or with retained earnings). |
|
| Return on Assets (ROA) Return on Assets (ROA) is net income relative to total assets. The market research on Veterinary Services measures how efficiently the company leverages its assets to generate profit. ROA is calculated as Net Income divided by Total Assets. |
|
| Liquidity Ratios | Industry Average |
|---|---|
| Bankers and suppliers use liquidity to determine creditworthiness and identify potential threats to a company's financial viability. | |
| Current Ratio Measures a firm's ability to pay its debts over the next 12 months. |
|
| Quick Ratio (Acid Test) Calculates liquid assets relative to liabilities, excluding inventories. |
|
| Efficiency Ratios - Key Performance Indicators | Industry Average |
|---|---|
| Measure how quickly products and services sell, and effectively collections policies are implemented. | |
| Receivables Turnover Ratio If this number is low in your business when compared to the industry average in the research report, it may mean your payment terms are too lenient or that you are not doing a good enough job on collections. |
|
| Average Collection Period Based on the Receivables Turnover, this estimates the collection period in days. Calculated as 365 divided by the Receivables Turnover |
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| Inventory Turnover A low turnover rate may point to overstocking, obsolescence, or deficiencies in the product line or marketing effort. |
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| Fixed-Asset Turnover Generally, higher is better, since it indicates the business has less money tied up in fixed assets for each dollar of sales revenue. |
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Compensation & Salary Surveys for Employees
Compensation statistics provides an accurate assessment of industry-specific jobs and national salary averages. This information can be used to identify which positions are most common, and high, low, and average annual wages.| Title | Percent of Workforce | Bottom Quartile | Average (Median) Salary | Upper Quartile |
|---|---|---|---|---|
| Management Occupations | 2% | Order at top of page |
||
| Chief Executives | 0% | |||
| General and Operations Managers | 1% | |||
| Healthcare Practitioners and Technical Occupations | 41% | |||
| Healthcare Diagnosing or Treating Practitioners | 16% | |||
| Veterinarians | 16% | |||
| Veterinarians | 16% | |||
| Health Technologists and Technicians | 25% | |||
| Health Practitioner Support Technologists and Technicians | 24% | |||
| Veterinary Technologists and Technicians | 24% | |||
| Healthcare Support Occupations | 23% | |||
| Other Healthcare Support Occupations | 23% | |||
| Miscellaneous Healthcare Support Occupations | 23% | |||
| Veterinary Assistants and Laboratory Animal Caretakers | 23% | |||
| Personal Care and Service Occupations | 9% | |||
| Animal Care and Service Workers | 8% | |||
| Animal Caretakers | 8% | |||
| Animal Caretakers | 8% | |||
| Office and Administrative Support Occupations | 23% | |||
| Information and Record Clerks | 16% | |||
| Receptionists and Information Clerks | 13% | |||
| Receptionists and Information Clerks | 13% | |||
Veterinary Services Competitor Landscape & Key Companies [PREMIUM]
The most influential companies in the Veterinary Services industry and adjacent industries either have large market share or are developing new business models and methods that could disrupt the status quo. We look at leading and emerging companies in the Veterinary Services industry and adjacent sectors:| Market Leaders: Direct Competitors Companies with the largest market share, focused in this industry |
Market leaders: Diversified Competitors Largest companies that have diversified operations in this and other industries |
| Innovators: Direct Competitors Innovative, Emerging, and Disruptive Companies that may influence the future direction of the industry. |
Innovators: Diversified Competitors Innovators and Disruptors in adjacent industries that may also affect the Veterinary Services industry. |
Source:
Latest Industry News
- Celebrity Army Vet Admits To Lying About His Combat Record - Retired Army Green Beret and MMA fighter Tim Kennedy released an apology message following allegations of “stolen valor.” Kennedy specifically (07/11/2025)
- U.S. Military Delivers Over $127K in Free Veterinary Care During St. Thomas Mission - More than 1,100 no-cost veterinary services—valued at over $127,000—were delivered to St. Thomas residents through a two-week deployment of U.S. military professionals under the Department of Defense’s Innovative Readiness Training (IRT) Program, the V.I. Department of Health has announced. (07/10/2025)
- 'Real Housewives' star Erika Jayne moves on with US Army vet ‘Sheriff of Baghdad' while divorcing Tom Girardi - Erika Jayne moves on with military veteran John McPhee, known as "The Sheriff of Baghdad," while her divorce from Tom Girardi faces delays after four years. (07/10/2025)
- No Cost Medical Services Offered In Bledsoe And Rhea Counties July 11-21 - Anyone older than three years old with the ability to travel to Bledsoe County High School or Rhea County Middle School can receive medical, dental, and optometry services at no cost from July 11-21, (07/10/2025)
- U.S. Army Veterinary Corps’ Food Safety Mission Enables Warfighters to Focus on Being ‘G.I. Joe,’ without Threat of ‘GI Flow’ - Behind every meal served to a soldier, sailor, airman, Guardian, or Marine, the U.S. Army Veterinary Corps is working hard to make sure that food is safe. (07/10/2025)
- After years of combat flexing, UFC vet Tim Kennedy admits lying about stories, honors - Tim Kennedy says he's been lying about a major aspect of the military experience he's been using as his calling card. (07/10/2025)
- Mobile vet brings pet care to Spring-area homes - Swan’s a Swimmin’ Mobile Veterinary Services opened its services to the Spring community in May, owner Marissa Swan confirmed. The mobile business provides house calls for vaccines, lab work, minor injuries and illnesses as well as in-home euthanasia for dogs and cats. (07/09/2025)
- Second Chance Animal Services now offering dog grooming at Springfield location - Second Chance Animal Services has announced the addition of dog grooming services to its Springfield Community Veterinary Hospital. (07/08/2025)
- Cochranton Veterinary Hospital Rebrands as CareVet of Cochranton - Cochranton Veterinary Hospital has officially rebranded as CareVet of Cochranton, marking a significant step forward while maintaining the trusted faces and values that have served the community for years. The name change, announced June 20, signals a renewed focus on enhancing the quality and accessibility of veterinary services. (07/08/2025)
- New 24-hour vet offers emergency services in Kalamazoo County - KALAMAZOO COUNTY, MI — A new, soon to be around-the-clock, emergency vet clinic is now open in Kalamazoo County. Catering exclusively to dogs and cats, the 4,566-square-foot Emergency Veterinary Care Center opened Friday, June 20, at 6289 W. Main St. in Oshtemo Township’s Hamptons Plaza. (06/24/2025)
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