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 Threats & Opportunities

  • Veterinarians have offered a wider range of services, leading to increased revenue per visit
  • Growth in the number of households with pet insurance has greatly benefited the industry
  • Advances in medical and surgical procedures will increase the range of industry services

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    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 Analysis Chapter

    The Veterinary Services industry has expanded steadily over the past five years, largely due to solid pricing growth, and high cat and dog pet ownership numbers per capita. According to Animal Medicines Australia, 4.8 million pet dogs and 3.9 million pet cats were being kept in Australia in 2016, giving Australia one of the highest global pet ownership rates. With increased cat and dog ownership over the past five years, and despite lower total ownership rates with falls in fish and bird numbers, greater private investment and growth in establishment numbers have contributed to industry expansion. This trend, along with new advanced veterinary services and higher vet numbers, has benefit industry firms.

    ..

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    Additional Insights for the Veterinary Services Industry

    IBISWorld identifies 250 Key Success Factors for a business.The most important for the Veterinary Services Industry are

  • Provision of appropriate facilities
  • Production of goods currently favoured by the market
  • Effective cost controls
  • IBISWorld analysts also discuss how external factors such as Real household discretionary income and Demand from general insurance in the Veterinary Services industry impact industry performance..

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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 Statistics Snapshot
    Industry Structure
    Executive Summary
    Industry Performance
    Executive Summary
    Key External Drivers
  • Real household discretionary income
  • Demand from general insurance
  • High income earners
  • Demand from agriculture
  • Number of households

  • Current Performance
  • Chart: Revenue Growth

  • Industry Outlook
  • Table: Veterinary Services Industry Revenue Outlook

  • Industry Life Cycle
  • Life cycle reasons
  • Chart: Benchmarking - Veterinary Services Industry Lifecycle vs The Economy

  • Products & Markets
    Supply Chains
    Key Buying Industries
  • Investigation and Security Services
  • Zoological and Botanical Gardens
  • Horse and Dog Racing
  • Agribusiness
  • Organic Farming
  • Police and Firefighting Services

  • Key Selling Industries
  • Medical and Surgical Equipment Manufacturing
  • Pharmaceutical Product Manufacturing

  • Products & Services
  • Routine veterinary services
  • Planned veterinary services
  • Emergency veterinary services
  • Veterinary merchandise and pet products
  • Other veterinary services
  • Chart: Veterinary Services Industry Products and Services Segmentation

  • Demand Determinants
    Major Markets
  • Urban households
  • Rural households
  • Agricultural industries
  • Horse and dog racing industries
  • Other markets
  • Chart: Major Market Segmentation for the Veterinary Services Industry

  • International Trade
    Business Locations
    Chart: Business Locations by State
    Competitive Landscape
    Market Share Concentration
    Key Success Factors
    Cost Structure Benchmarks
  • Chart: Cost Structure Benchmarking – Sector vs Veterinary Services

  • Basis of Competition
  • Internal competition
  • External competition

  • Barriers to Entry
  • Table: Barrier to Entry Checklist for the Veterinary Services Industry

  • Industry Globalization
    Major Companies
    Greencross Limited
  • Table: Greencross Limited - financial performance

  • Operating Conditions
    Capital Intensity
  • Chart: Level of Capital Intensity for the Veterinary Services Industry
  • Chart: Tools of the Trade: Growth Strategies for Success

  • Technology & Systems
    Revenue Volatility
  • Chart: Volatility vs Industry Growth

  • Regulation & Policy
    Industry Assistance
    Key Statistics
    Table: Industry Data for the Veterinary Services Industry
    Includes:
  • Industry Revenue (2008-2022)
  • Industry Gross Product (2008-2022)
  • Establishments (2008-2022)
  • Businesses (2008-2022)
  • Employment (2008-2022)
  • Wages (2008-2022)

  • Table: Annual Percentage Change for Key Industry Data
    Table: Key Ratios for Industry Key Data
    Jargon & Glossary
    Animal Acupuncture
  • An animal service that uses needles, pressure, heat, diet, Chinese herbs and other techniques to diagnose, prevent and treat disease.
  • Endoscopy
  • A non-surgical medical procedure to view the internals of an animal through the insertion of an endoscope in the mouth or anus.
  • Microchipping
  • The insertion under the skin and usually into the neck of an animal that contains information, registration and identity details.
  • Nutraceuticals
  • Food products that contain health and medical benefits.
  • Oncology
  • Medical procedures and treatments associated with tumours.
  • Pathology
  • The study and analysis of blood, urine and tissues to assist in the identification of diseases.
  • Radiology
  • The use of images and x-rays to assist with disease identification.
  • Why buy this report?

    IBISWorld industry market research reports enable you to:
    • Find out about key industry trends
    • Identify threats and opportunities
    • Inform your decisions for marketing, strategy and planning
    • Quickly build competitive intelligence
    This report on Veterinary Services:
    • Provides Market Size information to assist with planning and strategic decisions.
    • Includes the necessary information to perform SWOT, PEST and STEER analysis.
    • Helps you understand market dynamics to give you a deeper understanding of industry competition and the supply chain.
    • Analyses key performance and operational metrics so that you can benchmark against your own business, that of your customers’ businesses, or your competitors’ businesses.
    The Veterinary Services market research report includes:
    • Historical data and analysis for the key drivers of this industry
    • A five-year forecast of the market and noted trends
    • Detailed research and segmentation for the main products and markets
    • An assessment of the competitive landscape and market shares for major companies
    • And of course, much more

    IBISWorld reports on thousands of industries around the world. Our clients rely on our information and data to stay up-to-date on industry trends across all industries. With this IBISWorld Industry Research Report on Veterinary Services, you can expect thoroughly researched, reliable and current information that will help you to make faster, better business decisions.

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