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Figures from the United States, Brazil and Australia point to continued growth in veterinary services, medicines and other pet-health products, prompting companies to invest and expand their offerings. Growth varies by market, and US data also shows fewer clinic visits and weaker sales of products at practices, highlighting affordability and access concerns.
Veterinary care and pet-health products are drawing investment and business expansion as spending rises in several major markets, according to figures compiled by GlobalPETS. The report points to growth in the United States, Brazil and Australia, while also documenting cost concerns and signs of reduced access to veterinary care in the US.
In the United States, veterinary care generated $40 billion in 2025, making it the pet sector’s second-largest revenue category, according to the American Pet Products Association (APPA). Revenue grew 2.5% from 2024 and was nearly 21% higher than five years earlier. APPA also reported that US subscription purchases of pet medicines rose 14% last year, though it does not publish a separate total for medication sales. The report says inflation remains relevant: the accumulated annual inflation rate for the US veterinary category was 5.1% in July.
US practice data presents a more mixed picture. The American Veterinary Medical Association (AVMA) recorded a 3.3% increase in practice revenue from August 2025 to August 2026, alongside a 2.1% fall in visits. Services revenue rose 2.8%, but product sales at practices fell 3.3% compared with the previous year. Those figures suggest revenue growth is not necessarily translating into more appointments or stronger in-clinic product sales.
In Brazil, veterinary products reached R$12.8 billion in 2025, up 7.9% year over year, Sindan said. Cat and dog products accounted for R$3.2 billion, or about a quarter of the total. For 2026, Abempet forecasts veterinary product revenue of R$8.63 billion, up 5.1%, and veterinary service revenue of R$8.56 billion, up 4.6%. Both forecasts exceed the association’s 4.2% projection for overall pet-market growth. In Australia, health products generated AU$2.8 billion between March 2024 and March 2025, while veterinary services brought in AU$1.9 billion, according to Animal Medicines Australia (AMA).
Growth Meets Affordability Pressures
For companies, the figures offer a commercial reason to add products, services and business capacity in pet health. GlobalPETS describes investment, acquisitions and broader offerings as ways the industry is responding to rising spending. The data does not identify which companies are making specific deals or quantify the returns, but it shows that health categories represent a substantial part of the pet economy in the markets covered.
For pet owners, growth does not necessarily mean care is becoming easier to obtain. In the US, practice revenue rose while visits fell, a gap the report says exposes access challenges, particularly for lower-income owners. Higher prices can also contribute to revenue growth, so sales figures alone cannot show whether owners are receiving more care or paying more for similar services. The mix of revenue and visit data matters when judging whether market expansion is improving access.
Australia’s figures show the breadth of the category: medicines, parasite treatments and supplements sit alongside clinical care, insurance and alternative treatments. AMA says health-related categories together made up 29.6% of Australia’s pet-market revenue, 46.5% above the figure reported in 2016. That long-run rise indicates expanding commercial weight, though the data does not establish how much reflects price changes, more use, or shifts in the products counted.
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Three Markets, Different Signals
The report draws on national industry associations and veterinary bodies, whose data cover different periods and categories. The figures should not be treated as a single global measure: US practice revenues and visits, Brazilian veterinary-product sales, and Australian spending across products and services use distinct definitions and time windows.
Brazil’s cat-and-dog share of veterinary product revenue was lower than in 2024, but Sindan linked that change to faster growth in livestock sectors, especially cattle and poultry, rather than a direct decline in companion-animal sales. The segment’s share was 17% in 2015, compared with about 25% in 2025. Meanwhile, AMA reported that the share of surveyed cats receiving at least one veterinary consultation rose from 69% in 2022 to 75% in 2025; for dogs, it rose from 84% to 89%. The figures came from a survey of 2,450 pet owners conducted in February and March 2025, and many visits were for routine checks and vaccinations.
Comparable data is limited elsewhere. France’s veterinary medicines association says the organization that published species-level sales data ceased operations in 2023, leaving no newer series. Historical figures show the pet segment’s share of veterinary medicine sales rose from around 30% in 2002 to more than 55% in 2022. Germany reported veterinary revenue of €6.52 billion in 2024, up 5.7% from 2023 and 76% above 2018, but those figures do not establish a current trend beyond that period.
Limits in the Available Data
The data does not show how much reported revenue growth comes from increased use, higher prices, inflation, or changes in the products and services counted. The US figures also cover different measures: APPA’s 2025 market revenue, subscription medicine purchases, and AVMA practice revenue and visit data from August 2025 to August 2026. They should not be combined into one measure of demand.
It is also unclear how many owners are delaying or forgoing care, and the supplied figures do not quantify that impact by income. Brazil’s 2026 numbers are forecasts, not final results, while French sector data is outdated. GlobalPETS describes companies investing, acquiring businesses and expanding offerings, but the supplied report does not name deals or provide company-level spending, plans or outcomes.
Tracking Forecasts and Access
The next test for the industry will be whether the projected Brazilian growth is borne out in final 2026 results and whether services and products continue to outpace overall market growth. Updated data from national associations and veterinary bodies will help show whether expansion is sustained across markets, rather than concentrated in particular categories or periods.
In the US, further practice data could clarify whether the fall in visits persists and how services and product sales develop. For owners and businesses, the key unresolved measure is access: revenue trends need to be read alongside appointment use, affordability and the costs of treatment. The report does not specify forthcoming company announcements or acquisition dates.
Key Questions
What is driving investment in pet healthcare?
GlobalPETS links company investment, acquisitions and expanded offerings to rising spending on veterinary care, medicines and supplements. The report does not provide company-level investment totals or name specific transactions.
Which markets show growth in veterinary-related spending?
The report cites growth in the United States, Brazil and Australia. Their figures cover different categories and periods, so they are not directly comparable as a single measure.
Does higher veterinary revenue mean more pets are receiving care?
Not necessarily. In US data, practice revenue rose 3.3% from August 2025 to August 2026 while visits fell 2.1%. Revenue can rise for reasons that do not involve more appointments, including higher prices.
What is forecast for Brazil in 2026?
Abempet estimates veterinary product sales will reach R$8.63 billion, up 5.1% year over year, and veterinary services will reach R$8.56 billion, up 4.6%. These are forecasts based on first-quarter sales, not final results.
Source: globalpetindustry.com
