Veterinary Medical Devices Market to Hit $9.1 Billion by 2030 as AI and Pet Insurance Expand
Updated
Updated · Yahoo Finance · Aug 25
Veterinary Medical Devices Market to Hit $9.1 Billion by 2030 as AI and Pet Insurance Expand
1 articles · Updated · Yahoo Finance · Aug 25
Summary
$9.1 billion is the projected size of the global veterinary medical devices market by 2030, up from $6.5 billion in 2024, implying a 6.1% CAGR for 2025-2030.
Rising pet ownership and pet humanization are pushing clinics toward human-grade diagnostics and surgical tools, while broader insurance coverage is reducing owners' price sensitivity.
North America holds the largest share at 55.9%, supported by mature veterinary infrastructure and a fast-growing U.S. pet insurance market that reached $4.7 billion in premiums across 6.4 million insured pets in 2024.
AI-powered imaging, 15-minute point-of-care diagnostics, cloud-connected software, and newer tools such as handheld ultrasound and wearable monitors are driving clinic upgrade cycles and lifting device makers' revenue potential.
Asia-Pacific, Latin America and the Middle East remain the longer-term growth frontier as incomes rise and livestock production expands from a relatively underpenetrated base.