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 SWOT Analysis Chapter
The Veterinary Services industry is currently in the growth phase of its life cycle. Industry value added (IVA), which measures an industry's contribution to the overall economy, is expected to grow at an annualized rate of 2.9% during the 10 years to 2021. Comparatively, US GDP is anticipated to rise at an average annual rate of 2.2% during the 10-year period. Overall, the industry has benefited from growing pet ownership, mounting awareness of animal health issues and the availability of advanced surgical and diagnostic procedures.
As the advent of new technologies continues to migrate from the human healthcare sector to veterinary medicine, the industry has exhibited growth in line with being able to address more pet ailments... purchase to read more