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A GlobalPETS report finds veterinary services and pet health products gaining revenue across several markets, prompting companies to invest, acquire businesses and expand offerings. Growth is uneven: US practice sales rose while visits fell, whereas Australian owners reported more veterinary consultations. The figures describe market trends, but do not establish how much growth comes from higher prices, increased use or other factors.
Companies in the pet industry are investing, acquiring businesses and expanding products as spending on veterinary care, medicines and supplements grows in several markets, according to a GlobalPETS report, amid uneven market conditions. The data show expansion in the US, Brazil and Australia, but also different patterns in access and use: US veterinary sales increased even as clinic visits declined.
In the US, the American Pet Products Association reported $40 billion in veterinary-care revenue in 2025, the second-highest revenue category in the country’s pet sector. The category grew 2.5% year over year and nearly 21% over five years. The report cautions that inflation is part of the longer-term increase: US veterinary-category inflation was 5.1% in July, though the supplied material does not specify the year for that figure. APPA does not break out medication sales, but reported that subscription purchases of these products rose 14% last year, as US pet sales shift further online.
US practice data point to a tension between higher revenue and access. The American Veterinary Medical Association recorded a 3.3% increase in practice sales from August 2025 to August 2026, alongside a 2.1% decline in visits. Service revenue at clinics rose 2.8%, while product sales at practices fell 3.3% compared with the previous year. The figures do not establish why visits fell, but the report identifies affordability and access, particularly for lower-income owners, as concerns.
Brazil’s veterinary-products industry grew 7.9% in 2025 to R$12.8 billion, according to the National Union of the Animal Health Products Industry (Sindan). Cat and dog products accounted for R$3.2 billion, or a quarter of the market. Abempet projects 2026 growth of 5.1% for veterinary products and 4.6% for veterinary services, above its 4.2% forecast for the pet market overall, as the pet industry expands support for early-stage startups. In Australia, health products generated AU$2.8 billion in the year to 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 point to a sizeable and expanding market for clinical services, medicines, parasite treatments and supplements. Growth in these categories can support investment, acquisitions and wider product ranges, the report says, although it does not identify individual deals or quantify investment attributable to the trends.
For pet owners, rising revenue does not necessarily mean care is becoming more accessible. In the US, practice sales increased while visits declined, a combination that could reflect higher prices, a different mix of services or other factors; the figures alone cannot determine the cause. The distinction matters because spending totals measure market revenue, not whether households can afford needed treatment or whether animals are receiving more care.
The market also varies by country. Australia’s reported increase in consultations suggests a different pattern from the US visit data, while Brazil’s growth forecasts indicate continued expansion across both products and services. Companies weighing where to expand need to account for local demand, prices and access rather than treating global growth as uniform.
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Three Markets, Different Signals
The figures come from national associations and cover different periods and definitions, so they are not directly comparable. US veterinary care is reported as a pet-sector revenue category; Brazil’s figures cover veterinary products and services; Australia’s healthcare-products total includes medicines, flea, worm and tick treatments, and dietary supplements. The report also notes that some countries lack current, detailed industry data.
Australia’s AMA survey of 2,450 pet owners, conducted in February and March 2025, found that the share of cats receiving at least one veterinary consultation rose from 69% in 2022 to 75% in 2025. For dogs, the share increased from 84% to 89%. AMA attributed the rise mainly to routine check-ups and vaccinations. These survey results describe reported visits, not total spending or the reasons each owner sought care.
Brazil’s companion-animal products represented 25% of veterinary-products revenue in 2025, down slightly in market share from 2024. Sindan said the change reflected faster growth in animal-production sectors, particularly cattle and poultry, rather than a direct decline in cat and dog products. The report’s figures thus show how a segment’s share can fall even while the wider market grows.
What the Revenue Figures Miss
The report does not establish how much of reported revenue growth comes from higher prices, greater treatment use, product mix or other causes. The US inflation figure is given as 5.1% for July, but the source material does not identify the year. Nor does the report provide a detailed breakdown of US medication sales; the 14% increase applies specifically to subscription purchases.
National data are incomplete and use different categories and time windows. In France, Deleu told GlobalPETS that updated species-level veterinary-medicine sales data are unavailable after the relevant association ceased operations in 2023. The available historical series runs through 2022. The report does not provide enough detail to determine how representative the listed markets are of the global industry or to compare their figures on a consistent basis.
The US visit decline also has no confirmed explanation in the supplied data. The report raises affordability and access as concerns, but it does not show that cost alone caused fewer visits or identify which groups accounted for the change.
Watch 2026 Sales and Visits
The next useful indicators will be full-year 2026 results and updated practice-visit data, particularly whether Brazil’s projected product and service growth is realized and whether US visits recover or continue to fall. Abempet’s 2026 figures are estimates based on first-quarter sales, not final results.
New country-level reporting could also clarify how much growth reflects prices versus more care or product purchases. Until comparable data are available, the current figures support a finding of expansion in several markets, but not a single explanation for it or a conclusion that access is improving everywhere.
Key Questions
What is driving pet-health investment?
The report links company investment, acquisitions and expanded offerings to rising spending on veterinary care, medicines and supplements. It does not quantify how much investment is tied to any one product or market.
Are veterinary markets growing everywhere?
The report documents growth in the US, Brazil and Australia, but says performance varies by market and current data are missing or outdated in some countries. The figures should not be read as a uniform global trend.
Why is US veterinary revenue rising while visits are falling?
The data do not explain the difference. From August 2025 to August 2026, US practice sales rose 3.3% while visits declined 2.1%; prices, service mix or other factors may contribute, but the report does not establish the cause.
What is projected for Brazil in 2026?
Abempet estimates veterinary-product sales will grow 5.1% and veterinary services 4.6% year over year. These are forecasts based on first-quarter sales, not final annual totals.
Do higher market revenues mean pets are receiving more care?
Not necessarily. Revenue can rise for reasons other than an increase in visits, and the US figures show sales growth alongside fewer visits. Australia reported higher shares of cats and dogs receiving consultations, but those results cover a separate market and survey period.
Source: globalpetindustry.com
