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 2020, 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 2.2% during the ten years to 2020. 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