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Veterinary Services in the US: Market Research Report

Market Research • Market Size • Industry Statistics • Industry Analysis • Industry Trends

Veterinary Services Market Research Report | NAICS 54194 | Mar 2014

Barking back: Rising pet ownership rates and industry consolidation will spur revenue growth

IBISWorld’s Veterinary Services market research report can be used to help you: understand market size and growth potential; major companies; draft business plans and pitch books; and conduct benchmarking and SWOT analysis. Our industry analysis highlights macro industry trends in the overall sector and micro trends faced by companies that do business in the industry. The industry report also provides key industry statistics and 5-year forecasts to anticipate future industry prospects so you can decide with confidence.

Report Snapshot
Market Share of Companies
Industry Statistics & Market Size
Revenue
$34bn
Annual Growth 09-14
4.5%
Annual Growth 14-19
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Profit
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Employment
305,762
Businesses
38,087
Industry Analysis & Industry Trends

Growth in pet ownership has contributed to industry expansion amid rising consolidation among operators. Revenue will remain strong in the future as more consumers own pets and demand more animal-related products. Furthermore, veterinarians will continue to specialize, increasing the cost of industry services and thus boosting profit... purchase to read more

Industry Report - Industry Analysis Chapter

Over the five years to 2014, the Veterinary Services industry benefited from growth in the number of pets, which provided a larger customer base for the industry. Nevertheless, a decline in consumers' discretionary income curbed demand for veterinarian services in 2009, as many pet owners cut their overall healthcare spending. However, many pet owners continued to view their pets as family, prompting revenue growth. According to the American Veterinary Medical Foundation (AVMF), 63.2% of pet owners considered their pets family members in 2011. This fact, coupled with the pet population growing at a faster pace compared with the human population, bolstered industry revenue... purchase to read more

 


Industry ProductsRelated ReportsTable of Contents

What is the Veterinary Services Industry?

The Veterinary Services industry includes establishments of licensed veterinary practitioners who provide medical, dental or surgical treatment for animals. The industry also includes establishments that provide laboratory and diagnostic testing services for licensed veterinary practitioners. Companies that manufacture medical supplies or pharmaceuticals for animal treatment are not included in the industry.

Industry Products
Routine examsNonsurgical proceduresPet food and productsLab servicesSurgical procedures
 
Industry Activities
Operating animal hospitalsAnimal disease testing Livestock inspecting and testing Providing small animal veterinary servicesOperating veterinary surgeons' offices Performing animal vaccinationsOperating veterinary clinicsOperating veterinary testing laboratories Providing livestock veterinary services


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