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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 | Apr 2015

Barking back: Revenue will grow as a result of expanded services and growing pet numbers

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
$33bn
Annual Growth 10-15
1.9%
Annual Growth 15-20
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Profit
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Employment
351,242
Businesses
48,349
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 Locations Chapter

The location of veterinary services is influenced by the geographic spread of households, pet ownership rates (particularly dog and cat ownership), farming livestock and per capita disposable income. A greater proportion of industry activity is therefore found in regions with relatively high populations and, to a lesser extent, in regions with significant levels of farming activity.

The largest states in terms of employer establishment numbers include California (accounting for an estimated 9.5% of establishments); Texas (7.7%); Florida (6.8%) and New York (4.5%). Areas of higher per capita income and dense populations tend to favor industry operators, because residents are better able to afford pet ownership and the associated veterinary services... 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 visitsPet food Pet vitaminsSurgical 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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