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 numbers in the next five years are expected to drive industry revenue growth.
Over the five years through 2014-15, industry revenue is expected to increase at an annualised 1.9% as some pricing growth offset flat volumes. This includes an estimated 2.1% revenue growth in 2014-15 to reach $2.7... purchase to read more
Industry Report - Industry Products Chapter
Veterinary practices' activities can be divided into services provided across various animal segments and related products. These segments include companion animals, merchandise sales, farm animal treatment and other services involved in the eradication, treatment, control or prevention of diseases in animals.
Treatment of companion animals
Income from the treatment of companion animals is estimated to account for 69.0% of industry revenue in 2014-15, up from 67.0% in 2009-10 due to segment pricing increases, some volume growth and slow growth in most other segments. Over the past five years, there has been relatively fast growth in surgery, oncology and dentistry services provided for companion animals, which has promoted growth in diagnostic services... purchase to read more