The turnover of Veterinary Services in Germany has shown a consistent upward trend over the past decade. In 2013, the market size was 2.69 billion Euros, reaching 5.6 billion Euros in 2023. The sector has experienced significant growth, particularly from 2019 to 2023, with the turnover rising from 3.95 billion Euros to 5.6 billion Euros. Year-on-year growth rates peaked in 2020 with an 18.13% increase, reflecting the rising demand for veterinary services during the pandemic. The Compound Annual Growth Rate (CAGR) over the past five years up to 2023 stands at 8.66%. Forecasted growth shows a continued positive trajectory with a CAGR of 4.5% for the next five years, expected to bring the market to 7.44 billion Euros by 2028.
Future trends to watch for include increased adoption of advanced veterinary technology, a rise in pet ownership, and the growing awareness of animal health. These factors are likely to sustain and possibly accelerate market growth in the coming years.
