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