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 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, 2011-12) shows that veterinarian businesses with 19 and fewer employees accounted for 90.0% of industry enterprises as at 30 June 2012 (latest available data), with a similar percentage expected in 2013-14. 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