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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 | Sep 2014

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

IBISWorld’s Veterinary Services market research report offers insightful industry analysis and research into the market at the national level. IBISWorld’s in-depth industry market research is presented in a logical and consistent format. The industry report contains key industry statistics, market size, industry trends, and growth and profit forecasts for a 5-year outlook period.

Report Snapshot
Market Share of Companies
Industry Statistics & Market Size
Revenue
$34bn
Annual Growth 09-14
3.1%
Annual Growth 14-19
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Profit
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Employment
305,762
Businesses
38,087
Industry Analysis & Industry Trends

The Veterinary Services industry remained resilient over the past five years, largely due to many pet owners regarding their pet expenditures as vital, thereby boosting revenue. In addition, the pet population is growing at a faster pace than the human population, supporting the industry. However, the number of routine veterinary visits is waning, threatening growth. In the five years to 2019, industry revenue is forecast to grow. As more pet owners purchase pet health insurance, more pet owners will be able to afford high-cost procedures, bolstering revenue. The number of pets is also expected to rise, increasing demand for veterinary care... purchase to read more

Industry Report - Industry SWOT Analysis Chapter

The Veterinary Services industry is currently in the growth phase of its life cycle. Industry value added (IVA), which measures an industry's contribution to the overall economy, is expected to grow at an annualized rate of 2.0% during the ten years to 2019. Comparatively, US GDP is anticipated to rise at an average annual rate of 2.5% during the ten-year period. Overall, the industry has benefited from growing pet ownership, mounting awareness of animal health issues and the availability of advanced surgical and diagnostic procedures.

As the advent of new technologies continues to migrate from the human healthcare sector to veterinary medicine, the industry has exhibited growth in line with being able to address more pet ailments... 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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