The veterinary market - Italy

The veterinary market includes all services and products intended for the care, diagnosis, prevention and welfare of animals, both companion and farm animals. This sector includes the activities carried out by outpatient clinics, clinics, veterinary hospitals, and diagnostic laboratories, as well as the distribution and sale of medicines and products specifically for animals. Its relevance is not only economic, but also health and social, as veterinarians work to protect animal health and, indirectly, public health, particularly in the control of zoonoses. Globally, the sector reached $110.8 billion in 2023 and will grow to $208.89 billion in 2032 (CAGR 7.3%). In Europe, the market was worth $10.73 billion in 2023 and will grow to $14.98 billion by 2028 (CAGR 6.9%). In Italy, the total value of the veterinary market in 2024 is estimated at €2 billion, of which 71% is attributed to services (€1,437.6 million) and 29% to products (€580 million). Veterinary services in Italy grew by 75.7 percent between 2018 and 2023. The sector consists of more than 17,900 companies (+56% since 2012) and employs more than 22,000 people, with a structure dominated by freelancers and small businesses (88.7%). Demand is driven by the growing "humanization" of pets, increased adoptions and the aging of the pet population, as well as the spread of veterinary insurance (€1.3 billion potential market). However, 68% of facilities report refusal of care due to high costs, particularly for advanced diagnostics (80%) and specialized surgery (60%). Average fees for a first visit range from €39 to €50, with prices increasing by 12 percent between 2018 and 2024. The value chain includes ancillary services such as grooming, training, pet-sitting, and reproduction, but at the center remains veterinary clinical activity. Facilities are concentrated in outpatient clinics (89.7 percent up to 75 square meters), while clinics account for a smaller but growing share. Major players include San Marco Veterinary Clinic (€14.9M in 2023), Gregorio VII Center (€8.2M), and Vet Hospital Firenze (€6M). The market is regulated by Italian and European regulations, including Reg. (EU) 2019/6 on veterinary medicines, with a focus on combating antimicrobial resistance and drug traceability.