Industry Analysis & Industry Trends
Demand for veterinary services has been promoted by growing awareness of animal health issues and the increasing availability of advanced surgical and diagnostic procedures for animals. Due to higher incomes, people have been increasingly willing to spend more on vet procedures to prolong the lives of their pets. Despite flat growth in dog and cat pet populations in the past five years, the industry has expanded due to higher expenditure on companion animal vet care. Increased pet ownership numbers in the next five years are expected to drive industry revenue growth.
Over the five years through 2014-15, industry revenue is expected to increase at an annualised 1.9% as some pricing growth offset flat volumes. This includes an estimated 2.1% revenue growth in 2014-15 to reach $2.7... purchase to read more
Industry Report - Industry Key Buyers Chapter
The industry displays very low concentration, as establishments tend to be small, independent operations. ABS data (Counts of Australian Businesses, including Entries and Exits, 2012-13) shows that veterinarian businesses with 19 and fewer employees accounted for 94.4% of industry enterprises as at 30 June 2013 (latest available data), with a similar percentage expected in 2014-15. However, industry concentration is increasing. Greencross Limited, a company that listed on the Australian Stock Exchange in mid-2007, has become the largest operator in the industry... purchase to read more