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Veterinary Services in Australia: Market Research Report

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

Veterinary Services Market Research Report | ANZSIC M6970 | Jul 2015

Animal lovers: Higher numbers of veterinary graduates are lowering the average industry wage

IBISWorld’s Veterinary Services market research report provides the latest industry statistics and industry trends, allowing you to identify the products and customers driving revenue growth and profitability. The industry report identifies the leading companies and offers strategic industry analysis of the key factors influencing the market.

Report Snapshot
Market Share of Companies
Industry Statistics & Market Size
Revenue
$3bn
Annual Growth 11-16
2.7%
Annual Growth 16-21
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Profit
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Employment
18,360
Businesses
3,151
Industry Analysis & Industry Trends

Demand for veterinary services has been promoted by higher pet insurance uptake, growing awareness of animal health issues and the increasing availability of advanced surgical and diagnostic procedures for animals. Due to higher incomes and insurance levels, people have been increasingly willing to spend more on vet procedures to prolong the lives of their pets. Despite declines in dog and cat pet levels per capita in the past five years, the industry has expanded due to higher expenditure on companion animal vet care. Further increases in pet insurance levels and higher pricing over the next five years are expected to drive industry revenue growth through 2020-21.

Over the five years through 2015-16, industry revenue is projected to increase at an annualised 2.7%... purchase to read more

Industry Report - Industry SWOT Analysis Chapter

The Veterinary Services industry is in a mature phase of its life cycle. Industry value added, which is the industry's contribution to Australia's GDP, is estimated to increase at an annualised 2.2% over the decade through 2020-21. With national GDP estimated to increase at an annualised 2.8% over the period, the industry is expected to grow at a slower rate than the economy. Industry growth has benefited from higher pet insurance levels, greater demand for imaging and diagnostic services, and pricing increases. However, industry growth has been limited due to a decline in pet ownership per capita in the past five years, partly due to a trend toward medium- to high-density living. More households are also reluctant to take on the financial commitment of dog or cat ownership... purchase to read more

 


Industry ProductsRelated ReportsTable of Contents

What is the Veterinary Services Industry?

The industry is made up of veterinary practitioners and animal hospitals. Veterinarians are skilled in medicine and surgery pertaining to animals. Private veterinary practice can be divided into rural practice (treating companion animals and farm animals) and town practice (mainly treating companion animals).

Industry Products
Routine veterinary servicesPlanned veterinary servicesEmergency veterinary servicesVeterinary merchandise and pet productsOther veterinary services
 
Industry Activities
Animal clinic operationAnimal hospital operationAnimal pathology servicesAnimal quarantine station operationSpaying servicesVeterinary clinic operationVeterinary surgery


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