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Veterinary Services in Belgium - Market Size, Industry Analysis, Trends and Forecasts (2024-2029)

BE-M75 March 2024 Factsheet

Revenue

€1.1bn

2019-2024 0.3 %
2024-2029 X.X %

Employees

4,492

2019-2024 1.4 %
2024-2029 X.X %

Businesses

4,492

2019-2024 1.4 %
2024-2029 X.X %

Wages

€XX.Xm

2019-2024 X.X %
2024-2029 X.X %

Veterinary Services in Belgium market size outlook

Total value and annual change from from 2014-2029. Includes 5-year outlook.

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About Factsheets

Industry Statistics and Rankings

How does this industry perform in Belgium compared to Europe?

Country Benchmarking

Industry Data Belgium

Ranking are out of 37 European countries for which IBISWorld provides country-level factsheets.

Revenue
#7 In Europe
Business
#8 In Europe
Employees
#15 In Europe
Wages
#20 In Europe

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The Veterinary Services industry’s revenue is anticipated to expand at a compound annual rate of 0.2% to €32.9 billion over the five years through 2024. Revenue expansion has been driven by a surge in pet ownership in response to the COVID-19 outbreak, growing awareness for animal health and the growing availability of advanced surgical and diagnostic procedures for animals. Individuals spent prolonged periods at home during lockdowns, driving many to buy pets. In turn, demand for veterinary services for insurance and health checks climbed.

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Enterprises
Number of businesses in 2024

Biggest companies in the Veterinary Services in Belgium

Company
Market Share (%)
2024
Revenue (€m)
2024
Profit (€m)
2024
Profit Margin (%)
2024
Independent Vetcare Ltd
3,047.0
1,175.0
38.6
Pets at Home Group plc
1,539.4
155.7
10.1
VetPartners Group Ltd
798.4
57.0
7.1

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Top Questions Answered in this Report

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What is the market size of the Veterinary Services industry in Belgium in 2024?

The market size of the Veterinary Services industry in Belgium is €1.1bn in 2024.

How many businesses are there in the Veterinary Services in Belgium industry in 2024?

There are 4,492 businesses in the Veterinary Services industry in Belgium, which has declined at a CAGR of 1.4 % between 2019 and 2024.

Has the Veterinary Services industry in Belgium grown or declined over the past 5 years?

The market size of the Veterinary Services industry in Belgium has been declining at a CAGR of 0.3 % between 2019 and 2024.

What is the forecast growth of the Veterinary Services industry in Belgium over the next 5 years?

Over the next five years, the Veterinary Services industry in Belgium is expected to grow.

What are the biggest companies in the Veterinary Services market in Belgium?

The biggest companies operating in the Veterinary Services market in Belgium are Independent Vetcare Ltd, Pets at Home Group plc and VetPartners Group Ltd

What does the Veterinary Services in Belgium include?

Veterinary care for farm animals and Veterinary care for pets are part of the Veterinary Services industry.

Which companies have the highest market share in the Veterinary Services in Belgium?

The company holding the most market share in Belgium is Independent Vetcare Ltd.

How competitive is the Veterinary Services industry in Belgium?

The level of competition is moderate and steady in the Veterinary Services industry in Belgium.

Related Industries

This industry is covered in 37 countries

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Table of Contents

About this industry

Industry definition

This industry provides healthcare and control activities for animals and pets. Activities are carried out by qualified veterinary surgeons in veterinary hospitals, on farms or in surgeries. The industry also includes animal ambulance activities.

Related Terms

Avian InfluenzaEndoscopyCompanion Antimals

What's included in this industry?

Veterinary care for farm animals Veterinary care for pets Veterinary care for zoo animals

Companies

Independent Vetcare LtdPets at Home Group plcVetPartners Group Ltd

Industry Code

ISIC 2006

75 - Veterinary activities in Belgium

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Performance

Revenue Highlights

Trends
  • Revenue
  • 2024 Revenue CAGR
  • Revenue Volatility

Employment Highlights

Trends
  • Employees
  • Employees per Business
  • Revenue per Employee

Business Highlights

Trends
  • Businesses
  • Employees per Business
  • Revenue per Business

Profit Highlights

Trends
  • Total Profit
  • Profit Margin
  • Profit per Business

Current Performance

Charts
  • Revenue
  • Employees
  • Business
  • Profit
Analysis

What's driving current industry performance in the Veterinary Services in Belgium industry?


Outlook

Analysis

What's driving the Veterinary Services in Belgium industry outlook?


Volatility

Analysis

What influences volatility in the Veterinary Services in Belgium industry?

Charts
  • Industry Volatility vs. Revenue Growth Matrix

Life Cycle

Analysis

What determines the industry life cycle stage in the Veterinary Services in Belgium industry?

Charts
  • Industry Life Cycle Matrix

Products and Markets

Highlights

Trends
  • Largest Market
  • Product Innovation

Key Takeaways

COVID-19 disruptions lead to unprecedented growth in pet ownership. The surge in dog and cat ownership rates during the COVID-19 outbreak led to a higher demand for planned and routine veterinary services, significantly enhancing revenue.

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Products and Services

Charts
  • Products and Services Segmentation
Analysis

How are the Veterinary Services in Belgium industry's products and services performing?

Analysis

What are innovations in the Veterinary Services in Belgium industry's products and services?


Major Markets

Charts
  • Major Market Segmentation
Analysis

What influences demand in the Veterinary Services in Belgium industry?


International Trade

Highlights

  • Total Imports into Belgium
  • Total Exports into Belgium
Heat maps
  • Industry Concentration of Imports by Country
  • Industry Concentration of Exports by Country
Data Tables

Value and annual change (%) included

  • Number of Imports and Exports by European Country (2024)

Competitive Forces

Highlights

Trends
  • Concentration
  • Competition
  • Barriers to Entry
  • Substitutes
  • Buyer Power
  • Supplier Power

Key Takeaways

The industry’s regional focus limits concentration. Veterinary services are very much dependent on geographic proximity to the customer or patient.

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Supply Chain

Charts

Buyer and supply industries

Geographic Breakdown

Business Locations

Heat maps
  • Share of Total Industry Establishments by Region (2024)
Data Tables
  • Number of Establishments by Region (2024)
Charts
  • Share of Establishments vs. Population of Each Region
Analysis

What regions are businesses in the Veterinary Services in Belgium located?

Companies

Data Tables

Top 8 companies by market share:

  • Market share (2024)
  • Revenue (2024)
  • Profit (2024)
  • Profit margin (2024)

External Environment

Highlights

Trends
  • Regulation & Policy
  • Assistance

Key Takeaways

Veterinary surgeons must register before setting up shop. Veterinary surgeons must ensure they have licences and accreditations before performing surgery on animals.

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External Drivers

Analysis

What demographic and macroeconomic factors impact the Veterinary Services in Belgium industry?

Financial Benchmarks

Highlights

Trends
  • Profit Margin
  • Average Wage
  • Largest Cost

Key Takeaways

Rising pet ownership benefits profitability. An increase in dog and cat ownership and elevated pet-related spending has meant profit has remained healthy.

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Cost Structure

Charts
  • Share of Economy vs. Investment Matrix
  • Industry Cost Structure Benchmarks:
    • Marketing
    • Depreciation
    • Profit
    • Purchases
    • Wages
    • Rent
    • Utilities
    • Other
Analysis

What trends impact cost in the Veterinary Services in Belgium industry?


Key Ratios

Data tables
  • IVA/Revenue (2014-2029)
  • Imports/Demand (2014-2029)
  • Exports/Revenue (2014-2029)
  • Revenue per Employee (2014-2029)
  • Wages/Revenue (2014-2029)
  • Employees per Establishment (2014-2029)
  • Average Wage (2014-2029)

Country Benchmarks

European Leaders & Laggards

Data Tables

Top and boottom five countries listed for each:

  • Revenue Growth (2024)
  • Business Growth (2024)
  • Job Growth (2024)

European Country Performance

Data Tables

Rankings available for 37 countries. Statistics ranked include:

  • IVA/Revenue (2024)
  • Imports/Demand (2024)
  • Exports/Revenue (2024)
  • Revenue per Employee (2024)
  • Wages/Revenue (2024)
  • Employees per Establishment (2024)
  • Average Wage (2024)

Structural Comparison

Data Tables

Trends in 37 countries benchmarked against trends in Europe

  • Concentration
  • Competition
  • Barriers to Entry
  • Buyer Power
  • Supplier Power
  • Volatility
  • Capital Intensity
  • Innovation
  • Life Cycle

Key Statistics

Industry Data

Data Tables

Including values and annual change:

  • Revenue (2014-2029)
  • IVA (2014-2029)
  • Establishments (2014-2029)
  • Enterprises (2014-2029)
  • Employment (2014-2029)
  • Exports (2014-2029)
  • Imports (2014-2029)
  • Wages (2014-2029)

Methodology

Where does IBISWorld source its data?

IBISWorld is a world-leading provider of business information, with reports on 5,000+ industries in Australia, New Zealand, North America, Europe and China. Our expert industry analysts start with official, verified and publicly available sources of data to build an accurate picture of each industry.

Each industry report incorporates data and research from government databases, industry-specific sources, industry contacts, and IBISWorld's proprietary database of statistics and analysis to provide balanced, independent and accurate insights. 

IBISWorld prides itself on being a trusted, independent source of data, with over 50 years of experience building and maintaining rich datasets and forecasting tools.

To learn more about specific data sources used by IBISWorld's analysts globally, including how industry data forecasts are produced, visit our Help Center.