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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 | May 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
3.9%
Annual Growth 16-21
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Profit
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Employment
365,951
Businesses
48,573
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 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 2.9% during the 10 years to 2021. Comparatively, US GDP is anticipated to rise at an average annual rate of 2.2% during the 10-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
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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