Veterinary Services in the US - Industry Market Research Report

August 2021 •
39 pages •
Report ID: 199103 •
Format: PDF

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Animal house: Demand is increasing in line with greater pet ownership and lifespans

Abstract

Veterinary Services in the US
Demand for the Veterinary Services industry has remained strong over the five years to 2019 due to increasing pet ownership and advancing technology and veterinary medicine that has lengthened the lifespan of many companion animals. Improving medical technologies and procedures have enabled veterinarians to purchase enhanced diagnostic tools to perform specialized medical procedures in-house. As a result, many practices now offer ophthalmology, internal medicine, surgery and dentistry, among other specialty services. Over the five years to 2024, industry revenue is forecast to grow. As more pet owners purchase pet health insurance, they will likely continue to be able to afford high-cost procedures such as surgery or preventative medicine. Furthermore, demand for veterinary services is expected to increase in line with continued growth in pet ownership and longer pet lifespans.

The Veterinary Services industry includes establishments of licensed veterinary practitioners that 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.

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