Demand for veterinary services has been promoted by 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 the lives of their pets. Despite declines in dog and cat pet levels per capita in the past five years, the industry has expanded due to higher expenditure on companion animal vet care. Further increases in pet insurance levels and higher pricing over the next five years are expected to drive industry revenue growth through 2020-21.
The industry is made up of veterinary practitioners and animal hospitals. Veterinarians are skilled in medicine and surgery pertaining to animals. Private veterinary practice can be divided into rural practice (treating companion animals and farm animals) and town practice (mainly treating companion animals).
The report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecast, growth rates and an analysis of the industry key players and their market shares.
