Overview

Premium pet provisions: Revenue rises with the uptake of pet insurance and new service offerings

IBISWorld’s Veterinary Services market research report offers insightful industry analysis and research into the market at the national level. IBISWorld’s in-depth industry market research is presented in a logical and consistent format. The industry report contains key industry statistics, market size, industry trends, and growth and profit forecasts for a 5-year outlook period.

REPORT SNAPSHOT

Market Share of Companies
Industry Statistics & Market Size
Revenue
$3bn
Annual Growth
2012 - 2017
3.1%
Annual Growth
2017 - 2022
Profit
Employment
19,720
Business
3,249

Industry Analysis & Industry Trends

Several factors have promoted demand for the Veterinary Services industry over the past five years. These include 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 their pets' lives. With low growth in dog and cat pet ownership per capita over the past five years, and despite falls in fish and bird numbers, the industry has expanded due to higher expenditure on companion animal vet care. Further increases in pet insurance and higher pricing over the next five years are expected to drive industry revenue growth further through 2021-22...

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Industry Report - Industry SWOT Analysis Chapter

The Veterinary Services industry is in a mature phase of its life cycle. Industry value added, which is the industry's contribution to Australia's GDP, is estimated to increase at an annualised 2.2% over the decade through 2021-22. With national GDP estimated to increase at an annualised 2.5% over the period, the industry is expected to grow at a slower rate than the economy. Industry growth has benefited from higher pet insurance levels, greater demand for imaging and diagnostic services, and pricing increases. However, industry growth has been limited due to a decline in pet ownership per capita in the past five years, due to falls in fish and bird numbers, and partly due to a trend toward medium- to high-density living. Som..

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Industry Products

What is the Veterinary Services Industry?

The industry includes veterinary practitioners and animal hospitals. Veterinarians are skilled in medicine and surgery relating to animals. Private veterinary practices can be divided into rural practices (treating companion animals and farm animals) and town practices (mainly treating companion animals).

Industry Products
Routine veterinary services
Planned veterinary services
Emergency veterinary services
Veterinary merchandise and pet products
Other veterinary services
Industry Activities
Animal clinic operation
Animal hospital operation
Animal pathology services
Animal quarantine station operation
Spaying services
Veterinary clinic operation
Veterinary surgery

Table of Contents

About this Industry

Industry Definition
Main Activities
Similar Industries
Additional Resources

Industry at a Glance

Industry Performance

Executive Summary
Key External Drivers
Current Performance
Industry Outlook
Industry Life Cycle

Products & Markets

Supply Chain
Products & Services
Demand Determinants
Major Markets
International Trade
Business Locations

Competitive Landscape

Market Share Concentration
Key Success Factors
Cost Structure Benchmarks
Basis of Competition
Barriers to Entry
industry Globalisation

Major Companies

Operating Conditions

Capital Intensity
Technology & Systems
Revenue Volatility
Regulation & Policy
Industry Assistance

Key Statistics

Industry Data
Annual Change
Key Ratios

Jargon & Glossary

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