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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 | Apr 2015

Pampered pets: Higher pricing drives industry revenue growth

IBISWorld’s Veterinary Services market research report is a comprehensive guide to market size and growth prospects. Our industry reports offer strategic industry analysis of the factors influencing companies, including new product developments, economic, lifestyle and demographic influences, distribution and supply chain factors and pricing issues. Full analysis accompanies our data forecasts to illustrate how the market responds to emerging industry trends.

Report Snapshot
Market Share of Companies
Industry Statistics & Market Size
Revenue
$3bn
Annual Growth 10-15
1.3%
Annual Growth 15-20
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Profit
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Employment
23,340
Businesses
3,049
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 over the next five years is expected to drive industry revenue growth.

Over the five years through 2014-15, industry revenue is estimated to increase at an annualised 1.3% as some pricing growth offsets flat volumes. This includes forecast growth of 1.8% over 2014-15, to reach $2.6 billion... purchase to read more

Industry Report - Industry SWOT Analysis Chapter

The Veterinary Services industry is in a growth 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 2.8% over the decade through 2019-20. With national GDP estimated to increase at an annualised 2.7% over the period, the industry is expected to grow at a faster rate than the economy. However, 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. This has resulted in flat aggregate cat and dog numbers in the five years through 2014-15... 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 (mainly focused on 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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