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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 | Jan 2016

Cat's meow: Operators will be able to raise prices as they offer more specialized services

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
$37bn
Annual Growth 11-16
4.5%
Annual Growth 16-21
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Profit
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Employment
350,619
Businesses
48,969
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

 


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
Pet grooming services Routine examinations Surgical treatmentsNonsurgical treatmentsLaboratory services Boarding services Merchandise sales
 
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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