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 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 and wages is used as a proxy for labour. For every dollar invested in equipment and vehicles, an estimated $15.12 is required for industry wages... purchase to read more