Veterinary Services in the US
Demand for the Veterinary Services industry remained strong over the past five years to 2018, owing to increasing pet ownership and advancing technology and veterinary medicine that can lengthen the lives of companion animals. increased routine care visits during the five-year period, bolstered industry revenue. Additionally, with the average lifespan of companion pets on the rise, demand for routine care and chronic disease management of older companion pets increased as well. In addition, the shift to group practices will enable veterinarians to spread fixed costs and bolster average profit margins. Over the five years to 2023, industry revenue is forecast to grow. Due to an increasing amount of pet owners purchasing pet health insurance, more pet owners will be able to afford higher-cost procedures such as surgery or preventative medicine.
The Veterinary Services industry includes establishments of licensed veterinary practitioners who provide medical, dental or surgical treatment for animals. The industry also includes establishments that provide laboratory and diagnostic testing services for licensed veterinary practitioners. Companies that manufacture medical supplies or pharmaceuticals for animal treatment are not included in the industry.
This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.