The turnover of veterinary services in France stood at 4.68 billion euros in 2023. Analysis of historical data shows a steady growth trend, with a Compound Annual Growth Rate (CAGR) of 4.03% over the last five years. Year-on-year growth has averaged around 4% over the period, indicating a robust increase in demand for veterinary services. The industry experienced a peak growth rate of 6.28% in 2020, likely influenced by increased pet adoption during the pandemic, followed by a slight deceleration in subsequent years.
Future projections estimate the turnover to reach 5.3 billion euros by 2028, with a forecasted CAGR of 1.97% over the next five years. This suggests a slowing growth trend, with an expected total growth rate of 10.24% over this period.
Future trends to watch for in the veterinary services market include:
- The impact of technological advancements, such as telemedicine and AI diagnostics, on service delivery and efficiency.
- Changing consumer behaviors, including increased spending on pet healthcare and wellness services.
- Potential regulatory changes and their impact on the industry.
- Expansion and consolidation within the veterinary services market as larger chains acquire smaller practices.
