Purring along: Operators will be able to raise prices as they offer more specialized services

The Veterinary Services industry has 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...read more.

Industry Statistics & Market Size
Revenue
$2bn
Annual Growth 12-17
1.3%
Forecast Growth 17-22
Profit
Employment
16,137
Businesses
2,187

Industry Threats & Opportunities

  • Industry operators are consolidating and transitioning to larger, group practices that offer a greater range of services
  • More veterinarians will offer high-margin, specialized services
  • An increase in the number of pets will bolster demand for routine veterinary care
  • Industry Report - Starting a New Business Chapter

    There are few barriers to entry in the Veterinary Services industry. Barriers to entry are higher in the veterinary laboratory segment relative to the animal hospital segment, and larger laboratories are likely to have a competitive cost advantage relative to smaller laboratories (due to leverage associated with high output and highly automated chemistry testing). Companies with laboratory operations can lose customers to other companies that have both animal hospital and laboratory operations.The time taken to obtain economies of scale can represent a barrier. Veterinary laboratories, for example, will operate at a loss until testing volumes reach a level that permits profitability. A b...purchase to read more.

    Additional Insights for the Veterinary Services in New York Industry

    IBISWorld identifies 250 Key Success Factors for a business.The most important for the Veterinary Services in New York 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 Per Capita Disposable Income in New York and Number of pets (cats and dogs) in the Veterinary Services in New York industry impact industry performance..

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    What's in this report

    What is the Veterinary Services in New York Industry?

    The Veterinary Services industry in New York 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
  • Surgical treatments
  • Merchandise sales
  • Laboratory services
  • Nonsurgical treatments
  • Pet grooming services
  • Boarding services
  • 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
  • Per Capita Disposable Income in New York
  • Number of pets (cats and dogs)
  • Unemployment Rate in New York
  • Per capita meat consumption

  • Current Performance
  • Pets benefit from technological advancements
  • Changing revenue streams
  • Chart: Revenue Growth

  • Industry Outlook
  • Increasing pet ownership drives demand
  • Private practice goes corporate
  • Table: Veterinary Services in New York Industry Revenue Outlook

  • Industry Life Cycle
  • Life cycle reasons
  • Chart: Benchmarking - Veterinary Services in New York 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 New York Industry Products and Services Segmentation

  • Major Markets
  • Companion animal exclusive
  • Companion animal predominant
  • Mixed animal
  • Other
  • Equine
  • Food animal predominant
  • Food animal exclusive
  • Chart: Major Market Segmentation for the Veterinary Services in New York 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 New York

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

  • VCA Inc., Banfield Pet Hospital, BluePearl Vet, IDEXX Laboratories Inc.,
  • Table: VCA Inc. - financial performance
  • Table: Banfield Pet Hospital - financial performance
  • Table: BluePearl Vet - financial performance
  • Table: IDEXX Laboratories Inc. - financial performance

  • Capital Intensity
  • Chart: Level of Capital Intensity for the Veterinary Services in New York 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 New York Industry
    Includes:
  • Industry Revenue (2008-2022)
  • Establishments (2008-2022)
  • Businesses (2008-2022)
  • Employment (2008-2022)
  • Wages (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?

    The Veterinary Services in New York industry market report contains strategic analysis of the key drivers influencing the industry. Save hours of time on research and prospecting using IBISWorld’s standardized, up-to-date reports on thousands of industries. Our industry research provides growth and profit forecasts for a five-year outlook period, presented in a clear and user-friendly format.

    IBISWorld industry market research reports enable you to:
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    • Identify threats and opportunities
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    This report on Veterinary Services in New York:
    • 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 New York 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 New York, you can expect thoroughly researched, reliable and current information that will help you to make faster, better business decisions.

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