Overview

Smooth operating: An increase in pet insurance has boosted revenue, despite lower pet numbers

The Veterinary Services in New Zealand market research report provides key industry analysis and industry statistics, measures market size, analyzes current and future industry trends and shows market share for the industry’s largest companies. IBISWorld publishes the largest collection of industry reports so you can see an industry’s supply chain, economic drivers and key buyers and markets.

REPORT SNAPSHOT

Industry Analysis & Industry Trends

The Veterinary Services industry has grown steadily over the past five years. Although pet ownership rates have declined, higher-priced procedures due to the increased uptake of pet insurance, and greater demand from the agricultural sector have supported industry growth. According to The New Zealand Companion Animal Council, there were over 4.6 million pets, or companion animals, in New Zealand in 2015. An estimated 64.0% of New Zealand households own a pet, second only to the Unites States (65.0%). However, the ownership rate in New Zealand has decreased from 68.0% in 2011, or 5.0 million companion animals, with falls in the average number of cats, dogs and fish per household.

Despite the drop in pet ownership, industry revenue is projected to increase at an annualised 2.7%...

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What is the Veterinary Services in New Zealand industry?

The geographic distribution of veterinary practices is influenced by population trends and animal production in the agricultural sector. Cities with large populations tend to attract large numbers of veterinary clinics to service the household sector. However, with Auckland projected to account for 23.1% of veterinary establishments in 2017-18, and 34.4% of New Zealand's population, it is likely that the higher population density of the city means that fewer veterinarians service a greater number of clients than the national average. This is expected to result in higher profit margins for these veterinary clinics, despite higher rent and wage costs.

The opposite of this distribution trend is seen in Waikato, which is anticipated to account for 15.9% o...

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New Zealand Special Report

Products & Brands

Major products in this industry
Routine veterinary services
Planned veterinary services
Emergency veterinary services
Other veterinary services
Veterinary merchandise and pet products

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
Major Markets

Globalisation & Trade

Business Locations
Competitive Landscape
Market Share Concentration
Key Success Factors
Cost Structure Benchmarks
Barriers to Entry

Major Companies

Operating Conditions

Capital Intensity

Key Statistics

Industry Data
Annual Change
Key Ratios

Jargon & Glossary

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