Mexico Veterinary Services Market Size & Outlook
Mexico veterinary services market, 2018-2030 (US$M)
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Mexico veterinary services market highlights
- The Mexico veterinary services market generated a revenue of USD 2,417.2 million in 2023 and is expected to reach USD 4,259.2 million by 2030.
- The Mexico market is expected to grow at a CAGR of 8.4% from 2024 to 2030.
- In terms of segment, production animals was the largest revenue generating animal type in 2023.
- Companion Animals is the most lucrative animal type segment registering the fastest growth during the forecast period.
Veterinary services market data book summary
| Market revenue in 2023 | USD 2,417.2 million |
| Market revenue in 2030 | USD 4,259.2 million |
| Growth rate | 8.4% (CAGR from 2023 to 2030) |
| Largest segment | Production animals |
| Fastest growing segment | Companion Animals |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Companion Animals, Production Animals |
| Key market players worldwide | CVS Group PLC, National Veterinary Associates, Pets at Home Group PLC, Greencross Vets, Fetch Pet Care, IVC Evidensia, PetSmart, Airpets International |
Other key industry trends
- In terms of revenue, Mexico accounted for 1.9% of the global veterinary services market in 2023.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In Latin America, Brazil veterinary services market is projected to lead the regional market in terms of revenue in 2030.
- Argentina is the fastest growing regional market in Latin America and is projected to reach USD 2,010.3 million by 2030.
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Veterinary Services Market Scope
Veterinary Services Market Companies
| Name | Profile | # Employees | HQ | Website |
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Mexico veterinary services market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to veterinary services market will help companies and investors design strategic landscapes.
Production animals was the largest segment with a revenue share of 58.45% in 2023. Horizon Databook has segmented the Mexico veterinary services market based on companion animals, production animals covering the revenue growth of each sub-segment from 2018 to 2030.
In Mexico, dogs are the most preferred pets, with the growing popularity of cats in recent years. As per Merck KGaA, dog breeds like Labrador Retrievers, Terriers, Toy Poodles, and Miniature Schnauzers have a higher risk of developing chronic diseases such as diabetes.
Therefore, growing pet health concerns, rising awareness about diseases in pets, and growing pet expenditure are expected to contribute to market growth over the forecast period. Furthermore, the country has a presence of veterinary hospitals with increasingly growing veterinarian communities. According to the Pet Food Industry, Mexico currently has over 35,000 veterinarians, with a large portion of them focusing on livestock species.
The article also suggests that the country has over 8,000 private veterinary clinics nationwide. The veterinary channel holds a sizable share in terms of medicine sales as veterinarians are significantly influencing pet product recommendations on a large scale. The Pet Food Industry research team confirms that veterinarians in Mexico recommend pet product brands providing the best commercial gain along with an attractive quality-price ratio.
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Our clientele includes a mix of veterinary services market companies, investment firms, advisory firms & academic institutions.
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Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
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The rest of the revenue is generated working with academic and research not-for-profit institutes. We do our bit of pro-bono by working with these institutions at subsidized rates.
Horizon Databook provides a detailed overview of country-level data and insights on the Mexico veterinary services market , including forecasts for subscribers. This country databook contains high-level insights into Mexico veterinary services market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Mexico veterinary services market size, by animal type, 2018-2030 (US$M)
Mexico Veterinary Services Market Outlook Share, 2023 & 2030 (US$M)
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