Industry Analysis & Industry Trends
The Veterinary Services industry remained resilient over the past five years, largely because many pet owners have regarded their pet expenditures as vital, which has boosted revenue. In the coming years, thanks to an increasing amount of pet owners purchasing pet health insurance, more pet owners will be able to afford high-cost procedures, such as surgery. Furthermore, demand for veterinary services will increase in line with pets living longer... purchase to read more
Industry Report - Industry Analysis Chapter
Over the past five years, the Veterinary Services industry has benefited from a growing number of pets, which has provided a larger customer base for the industry. According to the latest American Veterinary Medical Association (AVMA) study, about 63.2% of pet owners considered their pets as family members. This trend, coupled with the pet population growing at a faster pace than the human population from 2011 to 2016, has bolstered industry revenue. As more veterinarians have specialized in a particular field of medicine, such as internal medicine or surgery, the cost for many veterinary services rose.
For instance, many pet owners were willing to pay for improvements in pet healthcare, such as diagnostic testing and surgical procedures... purchase to read more