The production value of veterinary services in Italy has exhibited significant growth over the past decade. Specifically, from 2013 to 2023, it increased from 544.1 million euros to 1430 million euros. This period saw a consistent year-on-year increase, with notable jumps in 2020 (16.11%) and smaller but steady gains up to 2023 (10.23%). Over the last two years, the veterinary services sector has experienced a growth rate of approximately 10.84% annually, leading to a strong average 5-year CAGR of 11.88% up to 2023.
Looking ahead, the forecasted data indicates continued growth, albeit at a more moderated pace. By 2028, the production value is expected to reach 2080 million euros, reflecting a 5-year CAGR of 5.93% from 2024 onwards and a total forecasted growth rate of 33.37% over this period. This suggests sustained demand and potential sector opportunities.
Future trends to watch for include increased pet ownership, advancements in veterinary technology, and growing consumer spending on pet health and wellness. These factors could drive further investment and growth in the veterinary services market in Italy.
