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 Analysis Chapter
The Veterinary Services industry is expected to generate revenue of $2.6 billion in 2013-14, up 2.0% from the previous year. Over the five years through 2013-14, industry revenue is expected to increase at an annualised 2.0%. Increased private investment and growth in establishment numbers have improved access to veterinary services, which, along with new advanced veterinary services, has contributed to industry revenue growth. However, a decline in the animal population has limited industry growth in the past five years. Higher industry wages and increased industry competition have contributed to lower industry profit (which is currently at an estimated 11.2% of industry revenue), down from 13.5% in 2008-09... purchase to read more