The production value of veterinary services in France has shown consistent growth from 2013 to 2023, standing at €4.37 billion in 2023. This period experienced annual variations, with year-on-year changes ranging from a high of 12.62% in 2013 to a more modest 3.18% in 2023. The compound annual growth rate (CAGR) over the last five years stood at 4.15%, reflecting a steady increase in production value.
Looking ahead, the forecast data from 2024 to 2028 predicts a continued upward trend in the production value of veterinary services, with the value expected to reach €5.02 billion by 2028. The forecasted five-year CAGR is more conservative at 2.21%, translating to an overall growth rate of 11.54% over this period.
Future trends to watch for:
- Technological advancements in veterinary care.
- Increased pet ownership and spending on pet health.
- Potential impacts of regulatory changes in veterinary practices.
- Growth in specialized veterinary services and telemedicine.
- Economic factors influencing consumer spending on veterinary care.
