Just as the title says, how should I become a vet and save my pets from bleeding to death? I got bandages, but I cannot seem to apply them on any of my tamed pets, even if they are injured and bleeding badly.
You can’t bandage them by this time 
Maybe at some point in the future you will be able to do this…
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Thanks for the info. That is rather unfortunate.
On the brighter side, the tougher animals seem to be capable of surviving some injuries as their bleeding kind of stops on their own. After leaving them in a safe environment for a couple of days, they seem to heal back themselves. I guess that is all that could be done for now. But just as Bjo mentioned, the PC cannot speed up the healing process.
It just pains me to stand there and witness my cows bleed while I am holding bandages in my hands and there is nothing that I could do.
For now, the most you can do to heal injured animals is using healing spells from Magiclysm, Arcana, or the like. As far as I know, there aren’t any spells to actually stop the bleeding; the most you can do is restore the injured animal’s HP to keep it from dying until the bleeding stops.