Pet friendly: The industry will benefit from increases in the number of pet owners, coupled with rising consumer spending

Demand for the Veterinary Services industry in California has experienced strong growth over the five years to 2017, due in large to increasing numbers of pets in the state and rising consumer spending. Advancing technology and veterinary medical practices have also contributed to industry growth, as has the need for veterinary services for larger animals, such as horses and cows. Overall, in the five years to 2022, industry revenue is forecast to continue its upward trend. Such growth will be driven by continued increases in the number of pet owners, coupled with rising consumer spending...read more.

Industry Statistics & Market Size
Revenue
$4bn
Annual Growth 12-17
2.3%
Forecast Growth 17-22
Profit
Employment
35,291
Businesses
5,469

Industry Threats & Opportunities

  • Advancements in technology and veterinary medical practices have driven industry growth
  • Animals, such as cows and chickens, are subject to stringent regulations to ensure food safety, driving demand for veterinary services
  • Rising demand for meat and animal byproducts will spur demand for veterinary services
  • Industry Report - Starting a New Business Chapter

    Barriers to entry in the veterinary services industry in California are high, overall. There are few barriers to entry in the companion animal healthcare industry, but barriers to entry are higher in the veterinary laboratory segment relative to the animal hospital segment. Companies with laboratory operations can lose customers to other companies that have both animal hospital and laboratory operations. For example, animal hospitals acquired by VCA Inc. (VCA) will use VCA laboratory services almost exclusively. Therefore, hospitals acquired by VCA generally cease to be customers or potential customers of non-VCA reference laboratories.The time taken to obtain economies of scale can represent a barrier. Vet...purchase to read more.

    Additional Insights for the Veterinary Services in California Industry

    IBISWorld identifies 250 Key Success Factors for a business.The most important for the Veterinary Services in California Industry are

  • Ability to quickly adopt new technology
  • Proximity to key markets
  • Provision of appropriate facilities
  • IBISWorld analysts also discuss how external factors such as Consumer Spending in California and Number of pets (cats and dogs) in the Veterinary Services in California industry impact industry performance..

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    What's in this report

    What is the Veterinary Services in California 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 examinations
  • Laboratory services
  • Surgical treatments
  • Merchandise sales
  • Boarding services
  • Pet grooming services
  • Nonsurgical treatments
  • Industry Activities
  • Operating animal hospitals
  • Animal disease testing
  • Livestock inspecting and testing
  • Providing small animal veterinary services
  • Operating veterinary surgeons' offices
  • Performing animal vaccinations
  • Operating veterinary clinics
  • Operating veterinary testing laboratories
  • Providing livestock veterinary services
  • Table of Contents

    Industry Definition
    Main Activities
    Similar Industries
    Additional Resources
    Industry Statistics Snapshot
    Industry Structure
    Executive Summary
    Executive Summary
    Key External Drivers
  • Consumer Spending in California
  • Number of pets (cats and dogs)
  • Per capita meat consumption
  • Threat of disease in livestock

  • Current Performance
  • Number of pets with longer lifespans has grown
  • Larger animals have also driven demand
  • Business structure changes
  • Chart: Revenue Growth

  • Industry Outlook
  • Key demand drivers continued growth
  • Food safety measures will increase
  • Consolidation will bolster efficiency and profit margins
  • Table: Veterinary Services in California Industry Revenue Outlook

  • Industry Life Cycle
  • Life cycle reasons
  • Chart: Benchmarking - Veterinary Services in California Industry Lifecycle vs The Economy

  • Supply Chains
    Key Buying Industries
  • Beef Cattle Production
  • Dairy Farms
  • Livestock Ranching & Farming
  • Hog & Pig Farming
  • Sheep Farming
  • Horse & Other Equine Production
  • Meat, Beef & Poultry Processing
  • Consumers

  • Key Selling Industries
  • Inorganic Chemical Manufacturing

  • Products & Services
  • Nonsurgical treatments
  • Routine examinations
  • Laboratory services
  • Surgical treatments
  • Merchandise sales
  • Other
  • Boarding services
  • Pet grooming services
  • Chart: Veterinary Services in California Industry Products and Services Segmentation

  • Major Markets
  • Companion animal exclusive practices
  • Companion animal predominant practices
  • Food animal exclusive and predominant practices
  • Mixed animal practices
  • Other
  • Equine
  • Chart: Major Market Segmentation for the Veterinary Services in California Industry

  • Business Locations
    Chart: Business Locations by State
    Market Share Concentration
    Key Success Factors
    Cost Structure Benchmarks
    ProfitWagesPurchasesRent and UtilitiesOther costs
  • Chart: Cost Structure Benchmarking – Sector vs Veterinary Services in California

  • Basis of Competition
    Barriers to Entry
  • Table: Barrier to Entry Checklist for the Veterinary Services in California Industry

  • VCA Inc., Banfield Pet Hospital, IDEXX Laboratories Inc., National Veterinary Associates,
  • Table: VCA Inc. - financial performance
  • Table: Banfield Pet Hospital - financial performance
  • Table: IDEXX Laboratories Inc. - financial performance
  • Table: National Veterinary Associates - financial performance

  • Capital Intensity
  • Chart: Level of Capital Intensity for the Veterinary Services in California Industry
  • Chart: Tools of the Trade: Growth Strategies for Success

  • Technology & Systems
    Revenue Volatility
  • Chart: Volatility vs Industry Growth

  • Regulation & Policy
    Industry Assistance
    Table: Industry Data for the Veterinary Services in California Industry
    Includes:
  • Industry Revenue (2008-2022)
  • Establishments (2008-2022)
  • Businesses (2008-2022)
  • Employment (2008-2022)
  • Wages (2008-2022)
  • Number of Pets in California (2008-2022)

  • Table: Annual Percentage Change for Key Industry Data
    Table: Key Ratios for Industry Key Data
    Bovine Spongiform Encephalopathy (Bse)
  • A fatal disease among cattle, also known as mad cow disease, that affects the central nervous system and causes staggering and agitation.
  • Dermatology
  • The branch of medicine dealing with the skin and its diseases.
  • Diagnostic
  • Identifying a particular disease.
  • Equine
  • Being related to horses.
  • Livestock
  • One or more domesticated animals raised in an agricultural setting to produce commodities such as food, fiber and labor.
  • Ophthalmology
  • The branch of medicine concerned with the eye and its diseases.
  • Orthopedics
  • The branch of medical science concerned with disorders or deformities of the spine and joints.
  • What Our Customers Say

    Why buy this report?

    IBISWorld’s Veterinary Services in California Industry Research Report contains up-to-date data and analysis, allowing you to identify the strengths and potential weaknesses of major companies in the industry. Build your credibility with clients and prospects by sharing insights into the current and emerging trends driving their industry. Our market research gives you the tools to win new business and keep existing clients.

    IBISWorld industry market research reports enable you to:
    • Find out about key industry trends
    • Identify threats and opportunities
    • Inform your decisions for marketing, strategy and planning
    • Quickly build competitive intelligence
    This report on Veterinary Services in California:
    • Provides Market Size information to assist with planning and strategic decisions.
    • Includes the necessary information to perform SWOT, PEST and STEER analysis.
    • Helps you understand market dynamics to give you a deeper understanding of industry competition and the supply chain.
    • Analyses key performance and operational metrics so that you can benchmark against your own business, that of your customers’ businesses, or your competitors’ businesses.
    The Veterinary Services in California market research report includes:
    • Historical data and analysis for the key drivers of this industry
    • A five-year forecast of the market and noted trends
    • Detailed research and segmentation for the main products and markets
    • An assessment of the competitive landscape and market shares for major companies
    • And of course, much more

    IBISWorld reports on thousands of industries around the world. Our clients rely on our information and data to stay up-to-date on industry trends across all industries. With this IBISWorld Industry Research Report on Veterinary Services in California, you can expect thoroughly researched, reliable and current information that will help you to make faster, better business decisions.

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