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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 | Jan 2016

Premium pets: Growth in advanced vet services and uptake of pet insurance boost revenue

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 11-16
2.7%
Annual Growth 16-21
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Profit
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Employment
19,360
Businesses
3,151
Industry Analysis & Industry Trends

Over the past five years, demand for veterinary services has been promoted by higher pet insurance uptake, growing awareness of animal health issues and the increasing availability of advanced surgical and diagnostic procedures for animals. Due to higher incomes and insurance levels, people have been increasingly willing to spend more on vet procedures to prolong the lives of their pets. Despite declines in dog and cat pet levels per capita in the past five years, the industry has expanded due to higher expenditure on companion animal vet care. Further increases in pet insurance levels and higher pricing over the next five years are expected to drive industry revenue growth through 2020-21... purchase to read more

Industry Report - Starting a New Business Chapter

Costs involved in establishing a private veterinary practice are influenced by the type and location of the practice, making these significant entry barriers for new firms. Although several states allow non-veterinarians to own an interest in a veterinary practice, which reduces barriers to entry, veterinarians must have a controlling interest in the practice in other locations. High equipment costs can create entry barriers as veterinary practices require extensive medical and veterinary equipment to operate. With vets carrying out more advanced medical procedures, increasingly advanced equipment is being required by industry operators. Partly offsetting these high equipment costs are lower wage costs as veterinarian graduate numbers remain high... 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 (treating companion animals and 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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