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 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 12.0% 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.
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