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Veterinary Services in the US: Market Research Report

Market Research • Market Size • Industry Statistics • Industry Analysis • Industry Trends

Veterinary Services Market Research Report | NAICS 54194 | Jan 2017

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

IBISWorld’s Veterinary Services market research report can be used to help you: understand market size and growth potential; major companies; draft business plans and pitch books; and conduct benchmarking and SWOT analysis. Our industry analysis highlights macro industry trends in the overall sector and micro trends faced by companies that do business in the industry. The industry report also provides key industry statistics and 5-year forecasts to anticipate future industry prospects so you can decide with confidence.

Report Snapshot
Market Share of Companies
Industry Statistics & Market Size
Revenue
$39bn
Annual Growth 12-17
3.4%
Annual Growth 17-22
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Profit
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Employment
364,291
Businesses
51,838
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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Industry ProductsRelated ReportsTable of Contents

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 treatmentsNonsurgical treatmentsLaboratory services Boarding services Merchandise sales
 
Industry Activities
Operating animal hospitalsAnimal disease testing Livestock inspecting and testing Providing small animal veterinary servicesOperating veterinary surgeons' offices Performing animal vaccinationsOperating veterinary clinicsOperating veterinary testing laboratories Providing livestock veterinary services


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