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

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 Statistics & Market Size
Revenue
$39bn
Annual Growth 12-17
3.8%
Forecast Growth 17-22
Profit
Employment
375,650
Businesses
49,930
Market Share of Companies

Industry Threats & Opportunities

  • Industry operators are consolidating and transitioning to larger, group practices that offer a greater range of services
  • Demand for government-licensed meat inspectors rose moderately over the past five years
  • Rising participation in pet insurance will improve pet owners’ ability to afford pet care
  • Industry Report - Industry Key Buyers Chapter

    The Veterinary Services industry is highly fragmented with over 50,000 establishment facilities in 2017. The four largest players in this industry are estimated to account for less than 13.0% of industry revenue in 2017. Although many animal hospitals are single-site, sole-practitioner facilities, veterinarians are gravitating toward larger, multi-doctor animal hospitals that provide state-of-the-art facilities, treatments, methods and pharmaceuticals to enhance the services they can provide their clients. According to data from the AVMA, 38.1% of private practices were solo practices in 2009 (latest data available). Industry concentration increased in recent years due to acquisition activity, particularly by industry players VCA Antech Inc. and IDEXX Laboratories Inc...purchase to read more.

    Additional Insights for the Veterinary Services Industry

    IBISWorld identifies 250 Key Success Factors for a business.The most important for the Veterinary Services 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 Number of pets (cats and dogs) and Per capita disposable income in the Veterinary Services industry impact industry performance..

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    What's in this report

    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 treatments
  • Nonsurgical treatments
  • Laboratory services
  • Boarding services
  • Merchandise sales
  • 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
  • Number of pets (cats and dogs)
  • Per capita disposable income
  • Per capita meat consumption
  • Threat of disease in livestock
  • National unemployment rate
  • Technological change for the Generic Pharmaceutical Manufacturing industry

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

  • Industry Outlook
  • Growth segments
  • Food safety demand to rise
  • Private practice goes corporate
  • Table: Veterinary Services Industry Revenue Outlook

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

  • Demand Determinants
  • Agricultural demand
  • Domestic demand

  • Major Markets
  • Companion animal exclusive practices
  • Companion animal predominate practices
  • Food animal exclusive practices/predominate practices
  • Mixed animal practices
  • Other
  • Equine
  • Chart: Major Market Segmentation for the Veterinary Services Industry

  • International Trade
    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

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

  • Industry Globalization
    VCA Inc.,
  • Table: VCA Inc. - financial performance

  • Capital Intensity
  • Chart: Level of Capital Intensity for the Veterinary Services 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 Industry
    Includes:
  • Industry Revenue (2008-2022)
  • Industry Gross Product (2008-2022)
  • Establishments (2008-2022)
  • Businesses (2008-2022)
  • Employment (2008-2022)
  • Wages (2008-2022)
  • Number of pets (2008-2022)

  • Table: Annual Percentage Change for Key Industry Data
    Table: Key Ratios for Industry Key Data
    Table: Industry Financial Ratios
    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 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:
    • 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:
    • 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 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, you can expect thoroughly researched, reliable and current information that will help you to make faster, better business decisions.

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