Rabid growth: An expanding pet population will increase demand for industry services

The Veterinary Services industry has exhibited moderate volatility over the past five years. Demand for veterinary services from the agricultural sector contracted. At the same time, demand for routine veterinary care fluctuated significantly over the period. Over the next five years, industry operators will benefit from rising veterinary costs. However, the number of veterinary visits is expected to decline due to more nutritious pet diets and the use of more effective vaccines cutting into the number of veterinary visits required to maintain pet health. Nevertheless, industry revenue is anticipated to grow as the industry becomes more specialized (e.g. through pet oncology and neurology)...read more.

Industry Statistics & Market Size
Annual Growth 13-18
Forecast Growth 18-23
Market Share of Companies

Industry Threats & Opportunities

  • Improving consumer confidence and booming livestock production have boosted demand for vet services
  • A niche market of veterinarians has continued to work with livestock and farm animals
  • Pet treatments that were once reserved for humans will likely become a pet care mainstay
  • Industry Report - Industry Analysis Chapter

    The Veterinary Services industry in Canada has performed strongly for much of the past five years. As the national unemployment rate has declined to a four-decade low and per capita disposable income has increased, consumers have been more willing to spend on the wellbeing of their pets. At the same time, demand for routine veterinary care has fluctuated significantly. However, according to a survey by the Ontario Veterinarian Medical Association, only 40.0% of pet owners took their pet to the veterinarian when they thought their pet was in poor health, compared with 25.0% of pet owners foregoing veterinary care altogether. The seemingly low vet visitation rate has been mitigated by the growth in the overall companion pets population in Canada. Acc...purchase to read more.

    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

  • Proximity to key markets
  • Provision of appropriate facilities
  • Effective cost controls
  • IBISWorld analysts also discuss how external factors such as Per capita disposable income and Demand from pet stores in the Veterinary Services industry impact industry performance..

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    What's in this report

    What is the Veterinary Services Industry?

    Operators in this industry provide medical, dental and surgical treatments for animals. This industry also provides laboratory and diagnostic testing for licensed veterinary practitioners. Companies that manufacture medical supplies or pharmaceuticals for animals are not included in this industry.

    Industry Products
  • Routine exams
  • Nonsurgical procedures
  • Surgical procedures
  • Laboratory and diagnostic testing
  • Pet products and food
  • Pet-care services
  • Industry Activities
  • Operating animal hospitals
  • Animal disease testing
  • Livestock inspecting and testing
  • Providing small animal veterinary services
  • Operating veterinary surgeons' offices
  • Performing animal vaccinations
  • Operating veterinary clinics
  • Operating veterinary testing laboratories
  • Providing livestock veterinary services
  • Table of Contents

    Industry Definition
    Main Activities
    Similar Industries
    Additional Resources
    Industry Statistics Snapshot
    Industry Structure
    Executive Summary
    Executive Summary
    Key External Drivers
  • Per capita disposable income
  • Demand from pet stores
  • Research and development expenditure
  • National unemployment rate

  • Current Performance
  • Rising competition
  • Sustained demand
  • Industry landscape
  • Chart: Revenue Growth

  • Industry Outlook
  • More of the same
  • Protecting pets and their owners
  • Table: Veterinary Services Industry Revenue Outlook

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

  • Supply Chains
    Key Buying Industries
  • Beef Cattle Production in Canada
  • Dairy Farms in Canada
  • Hog & Pig Farming in Canada
  • Consumers in Canada

  • Key Selling Industries
  • Brand-Name Pharmaceutical Manufacturing in Canada
  • Generic Pharmaceutical Manufacturing in Canada
  • Inorganic Chemical Manufacturing in Canada

  • Products & Services
  • Nonsurgical procedures
  • Routine exams
  • Laboratory and diagnostic testing
  • Surgical procedures
  • Pet products and food
  • Pet-care services
  • Other
  • Chart: Veterinary Services Industry Products and Services Segmentation

  • Demand Determinants
  • Agricultural demand
  • Domesticated demand

  • Major Markets
  • Companion animal practices
  • Mixed animal practices
  • Food animal practices
  • Chart: Major Market Segmentation for the Veterinary Services Industry

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

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

  • Industry Globalization
    VCA Antech Inc.,
  • Table: VCA Antech Inc. - financial performance

  • 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
    Table: Industry Data for the Veterinary Services Industry
  • Industry Revenue (2009-2023)
  • Industry Gross Product (2009-2023)
  • Establishments (2009-2023)
  • Businesses (2009-2023)
  • Employment (2009-2023)
  • Wages (2009-2023)
  • Demand from animal feed production (2009-2023)

  • Table: Annual Percentage Change for Key Industry Data
    Table: Key Ratios for Industry Key Data
    Bovine Spongiform Encephalopathy (Bse)
  • A fatal disease among cattle, also known as mad cow disease, that affects the central nervous system and causes staggering and agitation.
  • Diagnostic
  • Identifying a particular disease.
  • Equine
  • Being related to horses.
  • Livestock
  • One or more domesticated animals raised in an agricultural setting to produce commodities such as food, fibre and labour.
  • What Our Customers Say

    Why buy this report?

    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.

    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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