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. People are increasingly willing to spend more on vet procedures to prolong the lives of their pets. Despite declines in dog and cat 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 growth.
Over the five years through 2013-14, industry revenue is expected to increase at an annualised rate of 2.0% as some pricing growth offset declining volumes. This includes revenue growth in 2013-14 of an estimated 2.0% in 2013-14, to total $2.6 billion... purchase to read more
Industry Report - Industry Investment Chapter
The Veterinary Services industry is highly labour-intensive. Veterinary practices generally have moderate equipment requirements, mainly comprised of examination and surgical items, and rely on skilled professional treatments and analysis of animal symptoms. A significant portion of service provision mainly requires labour inputs by veterinarians and veterinarian nurses.
IBISWorld calculates the capital intensity level from the industry's cost structure. Depreciation is used as a proxy for capital, with total industry wages used as a proxy for labour. These show that for each $1.00 invested in equipment and vehicles, approximately $14.51 is required for industry wages... purchase to read more