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 Locations Chapter
The location of veterinary practices is mainly influenced by the distribution of the population, as this affects demand for vet services catering to companion animals. Cities account for a high proportion of industry revenue and enterprise numbers due to urban populations using a high level of vet services. Other location influences are the distribution of livestock farming activity, which affects the demand for services catering to farm animals, the location of horse and dog racing businesses, and the location of veterinary schools.
With a high population and large number of businesses along the eastern seaboard, New South Wales, Victoria and Queensland are estimated to account for 78.7% of industry revenue and 77.7% of industry enterprises in 2014-15... purchase to read more